A current account is designed for businesses, entrepreneurs, and entities that transact frequently. These bank accounts have no limits on the number of deposits and withdrawals made per month and have high monthly deposit limits.

You can open a current account for free on RazorpayX, in partnership with Scheduled Banks. You can even add beneficiaries and start transacting right after you sign up.

Current accounts have no limit on the number of transactions and have high deposit limits. Businesses, entrepreneurs, and other institutions use current accounts to make and receive a large number of payments regularly.

Current accounts are built for businesses that transact frequently. They allow you to make numerous transactions every month and enjoy benefits like overdrafts and large deposit limits.

Savings accounts are best suited for salaried individuals who do not transact frequently. These accounts generally have restrictions on the number of withdrawals per month.

When you sign up on RazorpayX, we start the process of opening a fully digital Current Account for your business.

Note: Banking Services and RazorpayX powered Current Account is provided by Scheduled Banks.

Your business is eligible to open a RazorpayX powered Current Account if it is registered, and falls in any of the following categories:

- Sole Proprietorship
- Partnership
- Limited Liability Partnership (LLP)
- Private/Public Limited Company/One-Person Company (OPC)

Here’s how you can open a RazorpayX powered Current Account in three simple steps:

• Sign up here.
• Click on “Apply now” on the RazorpayX Dashboard and give us some basic details about your business.
• Sit back and relax. Let our Sales Heroes work their magic and have your current account up and running for you.

Here are some of the documents you will need irrespective of your business category:

• Address proof : Aadhar card, voter ID card, rent agreement, electricity bill, telephone bill, water bill, passport, driving license (any 1)
• Identity proof: PAN card, passport, voter ID card, driving license, aadhaar card (any 1)
• Business registration proof or incorporation certificate
• PAN of the entity
• Your latest passport size photo
• Account opening cheque from an existing bank account

A RazorpayX powered Current Account holder needs to maintain a Monthly Average Balance (MAB) of at least Rs. 20,000.

A current account allows you to keep your business transactions separate from personal ones. This way, your financial records remain easy to understand, especially at the time of audits and during tax season.

Besides that, a current account allows you to make an unlimited number of deposits and payments through cheques, demand drafts, pay orders, NEFT, and RTGS. It also lets you overdraw your account when required, and acts like a proof of creditworthiness at the time of borrowing money.

RazorpayX is a platform that automates business banking. It allows businesses to do everything from opening a current account, tracking invoices, scheduling payments, paying tax, applying for loans, to viewing financial reports; all from one dashboard. This helps businesses manage their finances seamlessly and have complete visibility and control over their finances.

Note: Banking Services and RazorpayX powered Current Account is provided by Scheduled Banks.

In addition to standard banking features like chequebook, unlimited deposits, and withdrawals, account statements, users get access to our custom features like maker-checker, queued and scheduled payouts, bulk payouts, vendor invoice management, instant tax payments, and more.

Note: Banking Services and RazorpayX powered Current Account is provided by Scheduled Banks.