Choosing the best current account for business in India is essential for business success. Current accounts are a crucial part of entrepreneurs, startups, and established companies. A current account offers you seamless business transactions, with features like high transaction limits, digital banking, and other specialized services. This blog helps you choose the right current account by comparing Kotak mahindra bank current account vs HDFC current account, ICICI vs Kotak mahindra bank current account comparison. So you can find out thebest current account for business in India.
Kotak mahindra bank current account Mahindra Bank offers a range of current accounts, including Neo, Edge, Pro, Startup Regular, Startup Premium, Ace, Elite, Astra 05, Astra 15, Global Trade, Orange, and the Kotak mahindra bank current account 811 Digital Current Account. Here is a comparison between them based on various crucial factors:
| Account Type | Minimum AQB | Cash Deposit Limit | Key Features | Non-Maintenance Charges |
|---|---|---|---|---|
| Kotak mahindra bank current account 811 Digital | ₹0 (Kotak mahindra bank current Account mahindra bank current Account zero balance current account; Kotak mahindra bank current Account mahindra bank current Account 811 current account balance limit: ₹1,00,000 for limited KYC, no limit for full KYC) | Up to ₹5 lakh/month | Fully digital, free VISA ATM access, virtual debit card | None |
| Neo | ₹10,000 | Up to ₹2 lakh/month | Free first cheque book, SMS alerts at nominal charge | ₹300-₹600/quarter (est.) |
| Edge | ₹25,000 | Up to ₹4 lakh/month | Free email alerts, free DDs at Kotak mahindra bank current Account mahindra bank current Account branches | ₹500-₹1,000/quarter (est.) |
| Pro | ₹50,000 | Up to ₹6 lakh/month | Dedicated Relationship Manager, better forex rates | ₹500-₹1,000/quarter (est.) |
| Startup Regular | ₹50,000 | Up to 5x previous month's average credit balance or ₹5 lakh, whichever is higher | 12-month non-maintenance charge waiver, 8 free home-banking services | None for first 12 months |
| Elite | ₹1,00,000 | Up to ₹10 lakh/month | Free outward cheque returns, cash/cheque pickup on call | ₹1,000-₹2,000/quarter (est.) |
| Astra 15 | ₹15,00,000 | ₹Not specified (high limits expected) | Unlimited free DDs, waiver of outward cheque return charges | ₹5,000+/quarter (est.) |
HDFC Bank offers 14 current account variants, including Regular, Premium, Supreme, Ultima, and SmartUp. These accounts cater to different startups and businesses. Here is a comparison between them:
| Account Type | Minimum AQB | Cash Deposit Limit | Key Features | Non-Maintenance Charges |
|---|---|---|---|---|
| Regular | ₹10,000 | Up to ₹2 lakh/month or 25 transactions | 100 free cheque leaves/month per ₹1 lakh maintained | ₹300–₹600/quarter (est.) |
| Premium | ₹25,000 | Up to ₹3 lakh/month or 25 transactionsh | Free local/intercity cheque collection, 100 free cheque leaves | ₹500-₹1,000/quarter (est.) |
| Supreme | ₹50,000 | Up to ₹10 lakh/month or 25 transactions | 30 free DDs/POs per month, free RTGS/NEFT | ₹1,000–₹2,000/quarter (est.) |
| Ultima | ₹2,00,000 | Up to ₹50 lakh/month or 50 transactions | Dedicated Relationship Manager, better forex rates | ₹2,000-₹5,000/quarter (est.) |
| SmartUp (Startups) | ₹25,000 | Up to ₹5 lakh/month or 25 transactions | Digital invoicing, competitive trade/forex rates | ₹500–₹1,000/quarter (est.) |
ICICI Bank provides accounts like Smart Business Account 2.0 (Silver, Gold, Platinum), iStartup 2.0, Classic 2.0, and One Globe Trade, designed for small businesses, startups, and international traders. Here is the comparison:
| Account Type | Minimum AQB | Cash Deposit Limit | Key Features | Non-Maintenance Charges |
|---|---|---|---|---|
| Smart Business 2.0 Silver | ₹50,000 | Up to 10x AQB or ₹1.2 crore (lower) | Free cheque collection, RTGS/NEFT, loan fee concessions | ₹2,000-₹3,000/quarter |
| Smart Business 2.0 Gold | ₹1,00,000 | Up to 10x AQB or ₹1.2 crore (lower) | Higher transaction limits, priority services | ₹2,500-₹3,500/quarter |
| iStartup 2.0 | ₹25,000 (NIL for first 12 months) | Up to ₹50 lakh/month | Free for LLPs/companies/OPCs, digital tools | None for first 12 months |
| Classic 2.0 | ₹25,000 | Up to 10x AQB or ₹25 lakh (lower) | Suitable for local businesses, free RTGS/NEFT | ₹1,000–₹2,000/quarter |
| One Globe Trade | ₹50,000 or $5,000 throughput | Not specified (high limits for trade) | Forex/trade services, business counseling | ₹2,000-₹3,000/quarter |
Both Kotak mahindra bank current account and HDFC Current Accounts have their unique qualities that make them stand out. Kotak mahindra bank current accounts stands as a good choice for Startups and SMEs due to the Kotak mahindra bank current account zero balance current account and the ActivMoney feature. On the other hand, HDFC is the right choice for Large businesses and startups.
| Criteria | Kotak mahindra bank current Account | HDFC | Winner |
|---|---|---|---|
| Minimum AQB | ₹0 (Kotak mahindra bank current Account 811) to ₹15,00,000 (Astra 15) | ₹10,000 (Regular) to ₹2,00,000 (Ultima) | Kotak mahindra bank current account (zero-balance option) |
| Cash Deposit Limit | ₹2 lakh (Neo) to ₹10 lakh (Elite) | ₹2 lakh (Regular) to ₹50 lakh (Ultima) | HDFC (higher limits) |
| Fees | Startup waivers, free NEFT/RTGS, ₹5/₹1,000 for excess deposits | First-quarter waiver, free cheque leaves with balance, 25–50 transaction limits | Kotak mahindra bank current account (startup-friendly) |
| Services | ActivMoney, Forex Live, POS solutions, overdraft up to ₹15 lakh | SmartHub Vyapaar, invoicing, pre-approved loans | Kotak mahindra bank current account (auto-sweep unique) |
| Accessibility | Smaller branch network | Extensive branch/ATM network | HDFC |
Kotak mahindra bank current account is the best choice for Startups and SMEs with moderate needs, while ICICI Current Accounts seem a good choice for High-volume businesses.
| Criteria | Kotak mahindra bank current Account | ICICI | Winner |
|---|---|---|---|
| Minimum AQB | ₹0 (Kotak mahindra bank current Account 811) to ₹15,00,000 | ₹25,000 (Classic/iStartup) to ₹2,00,000, NIL for iStartup first year | Kotak mahindra bank current account (zero-balance option) |
| Cash Deposit Limit | ₹2 lakh (Neo) to ₹10 lakh (Elite) | Up to ₹1.2 crore (Smart Business Silver), ₹50 lakh (iStartup) | ICICI (higher limits) |
| Fees | Startup waivers, lower penalties | Higher non-maintenance charges (₹2,000-₹3,500), strict AQB rules | Kotak mahindra bank current account (cost-effective) |
| Services | ActivMoney, Forex Live, POS solutions | iBizz, InstaBIZ, business counseling, overdraft up to ₹5 crore | ICICI (advanced platforms) |
| Accessibility | Smaller branch network | Extensive branch/ATM network | ICICI |
Choosing the right current account can make a big difference for your business. Kotak mahindra bank current Account mahindra bank current Account Mahindra, HDFC, and ICICI offer competitive features. Here is a comparison of Kotak mahindra bank current Account mahindra bank current Account Mahindra, HDFC, and ICICI Bank, based on minimum balance, digital onboarding, and other factors, to help you find the best current account.
| Feature | Kotak mahindra bank current Account | HDFC | ICICI |
|---|---|---|---|
| Minimum Balance Requirement | Varies by account type; zero-balance options available | Varies by account type; balance waivers available | Varies by account type; flexible options |
| Digital Onboarding | Yes; includes video KYC | Yes; with online application processes | Yes; comprehensive online setup |
| Cash Deposit Limits | Up to ₹5 lakh/month for certain accounts | Up to ₹6 lakh/month or based on AMB | Based on account type; competitive limits |
| Specialized Services | Startup-friendly accounts with added benefits | Startup-friendly accounts with added benefits | Technological integrations and global support |