Bandhan Bank Current Account

• Instant money transfer
• 24x7 ATM withdrawals
• Attractive rate of interest

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Bandhan Bank is relatively new to the Indian banking field. The bank was established in December 2014 and is owned by one of the country’s largest microfinance organisations. The bank has grown at an exponentially high rate since its establishment and now caters to the banking needs of over 13 million customers. It offers customers a wide range of financial products and services that come with a host of benefits.

One of the products that Bandhan Bank offers its account holders is the current account. A current account is a type of bank account that provides account holders with high liquidity. The account is most often held by business people who require a steady cash flow to run their operations. The account has high limits on the number of cash deposits and transactions that can be made to the account in a given month.

Bandhan Bank has 5 variants of the current account, each of which has been designed keeping in mind the financial requirements of the prospective account holder. The features and benefits of these accounts are as follows:

Biz Standard Current Account

• The monthly average balance requirement for this account is Rs.5,000.
• A penalty fee of Rs.300 is charged for non-maintenance of the monthly average balance.
• Account holders are provided with 50 free cheque leaves on a monthly basis.
• Biz Standard Current Account holders are allowed to make unlimited cash withdrawals.
• Account holders are provided a free debit card on opening their account. No annual maintenance fee is charged for the first year.
• SMS alerts and monthly email statements are sent to the account holder for transactions carried out against their account.
• Account holders have a monthly deposit limit of Rs.5 lakh.

Biz Premium Current Account

• The average monthly average balance requirement for the Biz Premium Current Account is Rs.1 lakh.
• Account holders are charged a penalty fee of Rs.2,500 for non-maintenance of the monthly average balance.
• Account holders receive free SMS and email alerts on transactions made against their account.
• The bank provides account holders 500 free multicity cheque leaves each month.
• Sole proprietors and individuals are provided a free ATM/debit card on opening their account.
• Biz Premium Current Account holders receive free SMS and email alerts on transactions made against their account.
• Bandhan Bank Biz Premium Current Account holders can make unlimited cash withdrawals at any of the bank’s ATMs. Additionally, account holders are provided with 50 free ATM transactions at other bank ATMs.
• Account holders have the added benefit of availing the bank’s 24-hour customer care facility.
• The bank provides customers with the opportunity to attend seminars and workshops on trade and commerce, finance, and banking.

Biz Advantage Current Account

• The average monthly average balance requirement for this account is Rs.25,000.
• Account holders are charged a penalty fee of Rs.1,000 for non-maintenance of the monthly average balance.
• Account holders have the benefit of making free cash deposits up to Rs.15 lakh per month.
• Account holders can make unlimited cash withdrawals using their Bandhan Bank ATM card.
• The bank issues account holders with 200 free at par cheque leaves every month.
• Standing instructions can be set for regular transactions made against the account.
• The account comes with a nomination facility.
• Account holders can make 15 free NEFT and RTGS transactions every month.
• The bank provides account holders with Demand Draft and Pay Order facilities.
• Account holders can avail the bank’s 24-hour customer care facility to resolve any issues with their account.

Biz TASC Current Account

• Account holders are expected to maintain a monthly average balance of Rs.25,000.
• There are no charges levied for non-maintenance of the monthly average balance.
• Biz TASC Current Account holders can avail 500 free cheque leaves every month.
• This account permits account holders to make unlimited cash withdrawals from their home bank branch.
• Account holders receive free SMS alerts and monthly email statements for transactions made against their account.
• Account holders can make up to 100 free internet banking transactions each month.
• Demand Drafts and Pay Orders are issued to the account holder at a discounted rate.
• The Biz TASC Current Account is best ideal for Section 25 companies and entities, Societies, Associations, Trusts,Clubs, and NGOs.

Biz GOS Current Account

• The GOS Current Account is a zero balance account.
• Account holders are provided with free Pay Orders and Demand Drafts.
• GOS Current Account holders receive free unlimited cheque leaves from the bank.
• The bank provides account holders with free SMS alerts for transactions made against their account.
• GOS Current Account holders can make unlimited cash withdrawals at the account holder’s home branch.
• Cheque collection, cheque clearing, and funds transfer services are provided to the account holder free of charge.
• This account is best suited for government organisations.

Bandhan Bank has created its current accounts with the intention of catering to almost every type of account holder. This factor combined with the benefits that each account type receives, makes the current accounts offered by Bandhan Bank ideal for almost any individual.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.