Kotak mahindra bank Edge vs. Pro Current Account



Choosing the right current account plays a big role in the success of your business. Kotak Mahindra Bank's Edge Current Account and Pro Current Account stand as the popular choices among businesses. Both accounts cater to businesses, but they have differences in features, balance requirements, and services for business needs. Here is a comparison between Edge Current Account and Pro Current Account to help you choose the best account to achieve your financial goals.

Kotak Edge Current Account

The Edge Current Account is designed for small and medium businesses, early-stage SMEs with moderate transaction volumes. It stands as the cost-effective Kotak current account for SMEs and offers essential banking services.

Key Features:

  • Low Balance Requirement: It only requires an Average Quarterly Balance (AQB) of ₹25,000.
  • Free Online Transactions: Unlimited free NEFT, RTGS, and IMPS transactions via net banking and mobile banking.
  • ActivMoney Feature:ActivMoney automatically converts idle funds into fixed deposits for higher interest.
  • Digital Banking: Robust net banking and mobile app to seamlessly manage your account and make transactions.
  • Email Alerts: Free email alerts for real-time transaction updates.

Ideal For: Small businesses, sole proprietors, and early-stage SMEs needing a cost-effective Kotak current account for SMEs with essential features.

Kotak Pro Current Account

The Kotak Pro Current Account is tailored for growing SMEs and established businesses that require higher transaction volumes. It offers advance services and personalize support for higher customer satisfaction.

Key Features:

  • Balance Requirement: It requires an AQB of ₹50,000.
  • Relationship Manager: Dedicated RM for personalized banking support to help in complex transactions.
  • Enhanced Transaction Limits: Higher free transaction limits, including free NEFT/RTGS and demand drafts.
  • Trade and Forex Services: Competitive forex rates and efficient trade services for businesses dealing outside India.
  • ActivMoney Facility: Convert idle funds into fixed deposits for higher earnings, similar to Edge
  • Home Banking Services: Limited free cash/cheque pickup services.

Ideal For: This stands as one of the best bank current account for startups in India.

Comparative Overview of Kotak Edge vs Pro Account

FeatureEdge Current AccountPro Current Account
Minimum Balance Requirement₹25,000 AQB₹50,000 AQB
Account OpeningOnline or branch visitOnline or branch visit
Interest on BalanceUp to 7% p.a. via ActivMoneyUp to 7% p.a. via ActivMoney
Transaction LimitsModerate (e.g., free demand drafts at Kotak branches)Higher (e.g., more free transactions, trade services)
Overdraft FacilityAvailable for eligible accountsAvailable for eligible accounts
Dedicated SupportNot availableDedicated Relationship Manager
Ideal ForSmall businesses, sole proprietors, early SMEsGrowing SMEs, businesses with international needs

Conclusion

In the comparison between Kotak Edge and Pro account, the Edge Current Account is ideal for small businesses and early-stage SMEs. It is a cost-effective Kotak current account for SMEs with all essential features. On the other hand, Pro Current Account is suitable for growing SMEs and businesses with higher transaction volumes. It also offers advanced services like trade support which makes it the best current bank account for startups in India.

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