Compare the best current accounts in India — zero balance, multi-city, overdraft facilities and more for businesses, traders, startups and freelancers. MAB and fee ranges are re-verified monthly against the bank’s official disclosures.
Axis Bank
Small businesses, retail shops, traders | MAB: ₹25,000 | Cash Deposit: ₹2,00,000 | Cash Withdrawal: ₹1,00,000
HDFC Bank
Small businesses, traders, merchants | MAB: ₹25,000 | Cash Deposit: ₹2,50,000 | Cash Withdrawal: ₹1,50,000
ICICI Bank
Small businesses, LLPs, proprietorship firms | MAB: ₹25,000 | Cash Deposit: ₹2,50,000 | Cash Withdrawal: ₹1,50,000
State Bank of India
Small businesses, kirana stores, service providers | MAB: ₹10,000 | Cash Deposit: ₹1,00,000 | Cash Withdrawal: ₹1,00,000
Yes Bank
SMEs, startups, service businesses, digital-first businesses | MAB: ₹25,000 | Cash Deposit: ₹2,00,000 | Cash Withdrawal: ₹1,00,000
American Express
Premium card members, business expense management, large corporates, professional services firms | MAB: ₹50,000 | Cash Deposit: ₹5,00,000 | Cash Withdrawal: ₹3,00,000
AU Small Finance Bank
MSMEs, traders, retailers, and small business owners | MAB: ₹10,000 | Cash Deposit: ₹1,00,000 | Cash Withdrawal: ₹75,000
Axis Bank
Medium businesses, manufacturing, hospitality | MAB: ₹1,00,000 | Cash Deposit: ₹7,50,000 | Cash Withdrawal: ₹5,00,000
Bandhan Bank
East and pan-India small businesses, traders, MSME shops | MAB: ₹10,000 | Cash Deposit: ₹1,00,000 | Cash Withdrawal: ₹75,000
Bank of Baroda
Medium businesses, traders, educational institutions | MAB: ₹50,000 | Cash Deposit: ₹5,00,000 | Cash Withdrawal: ₹2,50,000
Bank of Baroda
Small businesses, kirana stores, small traders | MAB: ₹10,000 | Cash Deposit: ₹1,50,000 | Cash Withdrawal: ₹1,00,000
Bank of India
Medium businesses, service companies, growing enterprises | MAB: ₹50,000 | Cash Deposit: ₹3,00,000 | Cash Withdrawal: ₹1,50,000
MAB ranges and overdraft interest rates below are indicative as of 3 June 2026, sourced from public bank disclosures. Your actual MAB, fees, and OD terms depend on business vintage, turnover, and credit assessment.
Standard current accounts for small businesses and traders with MAB of ₹10,000–₹25,000, free NEFT/RTGS above a threshold, and unlimited free transactions. Most banks (SBI, HDFC, ICICI, Axis, Kotak) offer a basic variant with cheque book, debit card, and access to bulk-payment and payroll modules. Failing to maintain MAB results in penalty charges of ₹100–₹500 per month.
Multi-city current accounts let you operate from any branch of the bank across India without extra charges. Best for businesses with multiple offices, distributors, or warehousing operations. Most variants bundle free NEFT/RTGS, free DD/MC issuance, and dedicated relationship managers. SBI, HDFC, ICICI, and Kotak all offer multi-city variants under premium banking umbrellas.
Premium current accounts (HDFC Imperia, ICICI Business, Axis Burgundy, Kotak Ace, SBI Global) are designed for large corporates, exporters, and high-net-worth businesses. They add free foreign currency transactions, doorstep banking, free lockers, and a relationship manager. Free unlimited NEFT/RTGS/IMPS and preferential FD rates on balances parked with the same bank.
Several banks offer MSME-friendly current accounts with relaxed MAB (or zero MAB for the first year), free UPI and payment gateway integration, and GST/TDS payment modules. SBI, BOB, PNB, and HDFC have dedicated MSME variants. Pair with Udyam Registration for collateral-free credit under CGTMSE and Mudra loans.
Overdraft (OD) and Cash Credit (CC) accounts are working-capital facilities linked to a current account. You can withdraw up to an approved limit, and interest is charged only on the amount used (12–18% p.a. typically). Collateral is usually required — fixed deposit, property, inventory, or receivables. Most useful for seasonal businesses, manufacturers, and traders with thin cash flow.
Neo-banking platforms (RazorpayX, Open, Niyo, Zoho Banking, Jupiter Business, Fi Business) offer current accounts in minutes, integrated invoicing, payment links, bulk payouts, and accounting hooks. They partner with RBI-licensed banks (typically ICICI, Kotak, SBM, Suryoday) for the underlying account. Useful for freelancers, D2C brands, and SaaS businesses with pan-India collections.
FinWiz24 sources current account MAB requirements, fees, free-transaction limits, and overdraft terms from each bank’s published rate card, official website disclosures, and product agreement documents. Our editorial team re-verifies the data monthly and on every RBI policy change. Lender logos and product images belong to the respective owners; inclusion on this page does not constitute an endorsement. Always read the product agreement and confirm the final terms with the bank before signing.
RBI disclaimer: Current account balances are not insured by DICGC — DICGC coverage applies only to savings, current, fixed, and recurring deposits at RBI-regulated banks, but current accounts are covered up to the standard ₹5,00,000 limit per depositor per bank. FinWiz24 is a comparison platform and does not open accounts. Apply directly with the bank or through a lender authorised by the Reserve Bank of India.
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