HDFC Bank Smart Up Solutions for Startups

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

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HDFC Bank is one of India’s leading private sector banks. Established over 2 decades ago, the bank has branches all over the country and offers its customers a wide range of financial services.

Of the many products that HDFC Bank offers its customers, the current account is one that is quite popular. A current account is a type of bank account that has comparatively higher limits on the withdrawals and deposits made to the account. This type of account is often used by individuals who run their own businesses and require high liquidity.

HDFC Bank has a wide range of current accounts that it offers its customers. Each of these accounts have been carefully crafted to meet the business needs of the account holder in question. HDFC’s Smart Up Solutions for Startups is one among the many variants of the current accounts that it offers. The account has been developed with the intention of catering to individuals who need assistance with their startups.

Features and benefits

The following are the features and benefits of the Smart Up Solutions for Startups current account:

• Account holders have the choice of opting for one of two variants of this account: the SmartUp Alpha and the SmartUp Max. The SmartUp Max is the one that is usually preferred by customers.
• The SmartUp Alpha gives account holders the benefit of free cash deposits up to 12 times the account’s monthly average balance or up to 25 free transactions a month. The SmartUp Max, on the other hand, provides account holders with free cash deposits up to 12 times the account’s monthly average balance or up to 60 free transactions a month.
• SmartUp Alpha account holders receive a Platinum debit card on opening their account. The account holder is eligible to receive Re.1 cash back on every Rs.100 spent on their debit card. SmartUp max account holders receive 10% discounts on purchases made on their Times Debit card. Additionally, they also earn 2 points on every Rs.150 spent on their debit card.
• Account holders have the benefit of receiving a credit limit of 75% of the value of their fixed deposit.
• Services required by startups such as logistics, public relations, and digital marketing are provided to account holders at a discounted rate.
• The bank also provides account holders with special rates on forex cards and connections to customers, peers, and investors.
• Account holders can use the bank’s services to make bulk payments to vendors and employee salaries.
• The bank provides its collection facilities at discounted rates for its Smart Up Solutions for Startups current account holders.
• Account holders can avail the bank’s eCMS facilities and make electronic transfers in real time.

HDFC Bank provides its current account holders with a number of privileges and benefits. These benefits combined with the bank’s superior customer service makes the account ideal for individuals who are starting new businesses.

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