Choosing the right current account plays a pivotal role in the efficient financial management of your business. Kotak Mahindra Bank and HDFC Bank offer a variety of current accounts for various startup needs, SMEs, and large enterprises. This detailed overview provides a comparison between Kotak vs HDFC current account features, charges, and benefits.
| Bank | Account Type | Minimum AQB | Non-Maintenance Charges (Per Quarter) |
|---|---|---|---|
| Kotak Mahindra Bank | Neo | ₹10,000 | ₹1,500 |
| Kotak Mahindra Bank | Edge | ₹25,000 | ₹1,500 |
| Kotak Mahindra Bank | Pro | ₹50,000 | ₹2,500 |
| Kotak Mahindra Bank | Astra 15 | ₹15,00,000 | ₹5,000 |
| HDFC Bank | Regular | ₹10,000 | ₹1,500 |
| HDFC Bank | Premium | ₹25,000 | ₹1,800 |
| HDFC Bank | Plus | ₹1,00,000 | ₹1,500 (if AQB ≥ ₹50,000); ₹6,000 (if AQB < ₹50,000) |
| HDFC Bank | Ascent | ₹50,000 (Metro/Urban); ₹25,000 (Semi-Urban/Rural) | ₹3,000 |
| Feature | Kotak Mahindra Bank | HDFC Bank |
|---|---|---|
| Minimum AQB | ₹10,000 - ₹15,00,000 | ₹10,000 - ₹1,00,000 |
| Non-Maintenance Charges | ₹1,500 - ₹5,000 per quarter | ₹1,500 - ₹6,000 per quarter |
| Cash Deposit Limit | Up to ₹1 Cr/month (based on account type) | Up to ₹50 Cr/month (based on account type) |
| Cheque Book Charges | First 25 leaves free; ₹2–₹3 per leaf thereafter | ₹2-₹3 per leaf; free leaves based on AMB |
| Digital Banking Features | ActivMoney, Video KYC, Net Banking | ChatBanking, EVA Chatbot, MyBusiness |
| Customer Support | Phone, Email, Branches | WhatsApp, EVA Chatbot, Branches |
Both Kotak Mahindra Bank and HDFC Bank provide a range of current accounts for diverse customer needs. Kotak Mahindra's current Bank accounts offer features like ActivMoney, efficient fund management, and a simple online onboarding process via Video KYC. Alternatively, HDFC Bank's current account comes with features like ChatBanking on WhatsApp and the EVA chatbot for digital convenience. Before choosing any of the above, you should carefully evaluate factors like minimum balance requirements, transaction caps, digital banking capabilities, and branch proximity.
