zero-balance current account
- Banking

How to open the zero-balance current account


A current account is one of the best types of bank accounts that handle many transactions per day within the business. A zero-balance current account is beneficial for most account operators, as there is no need to maintain the minimum monthly balance.

The good bit is that it is easy to make deposits and withdrawals multiple times with ease with your current account. Read the guide to dive into the current account facts, including features and how to open the process.

Zero current balance account 

A zero-balance current account is the best for individuals and businesses, as there is no need to maintain the average monthly balances. This account increases liquidity. A current account offers no interest on the balance maintained in your account.

It is the best account to make many transactions every day in business to ensure flexibility. In this way, the current account increases the productivity of the company that uses this account.

The minimum average balance in the current account 

The minimum average balance is the number that comes from dividing the sum of day end closing balance in your current by the number of days in a month. Unlike the regular savings account, the zero-balance current account has no minimum average balance.

This is the reason why businesses prefer the current account because it offers the same facilities as the regular current account.

Who is eligible to open the zero-balance current account 

The following entities are eligible to apply for the zero-balance current account to handle the business transactions

  • Public and private companies
  • Trusts and NGOs
  • Hindu undivided family
  • Sole proprietor of the company
  • Professional individual

Step-by-step process to open the zero-balance current account

It is easy to open a current account online with a commercial or non-commercial bank. Here is the simple step you should follow to open your zero-balance current account.

  • Visit the official website of the bank
  • Open the opening form for the new account
  • Place the required details in the accounts and personal details section and tap on submit.
  • After completing the application form, download it or take a print of the form.
  • Then, visit your selected bank’s nearest branch and submit the application form with the KYC documents.

Documents need to open the zero-balance current account 

Here are the important documents you should submit to open the current zero balance account.

  • Address proof, like a rent agreement, Voter ID, passport, electricity bill, driving license, etc.
  • Identity proof, lies PAN, Aadhar Id, driving license, passport
  • For a sole proprietor, a certificate of sale tax or proprietorship letter
  • For partnership companies, partnership dead
  • For public or private limited companies, article of association, memorandum of association, and incorporation certificate.


The attributes and benefits of a zero-balance current account make it good for all companies and businesses who want to make hassle-free transactions.

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