Need suggestions for individual current account

[Ram1]

Need help in choosing best individual current account.
Requirements
1. Should be opened with just aadhar & pan, has no business proof
2. Need free cash deposit limit min 2Lakhs
3. No physical verification
4. Can maintain mab upto 25k

Options so far
1. Hdfc biz lite 10k mab 2L free cash deposit
But for this BM visit is mandatory at business location, as they need photo with BM. Felt strange

Any suggestions would be appreciated

 

[Anupama_Jha]

Try BOB or SBI @Vasuki

 

[Ram1]

Try BOB or SBI @Vasuki

Not having good relation with BOB bm.
Fought with him regarding masterstroke account earlier.

And lunch ke bad aana bank is good? No physical verification?

 

[SSquad]

Not having good relation with BOB bm.
Fought with him regarding masterstroke account earlier.

And lunch ke bad aana bank is good? No physical verification?

Nooooo wayyyy! SBI not gonna provide current account without proof of business.

 

[Ram1]

Nooooo wayyyy! SBI not gonna provide current account without proof of business.

I don't understand why banks suddenly asking proofs for individual current account.

Isn't individual current account meant for personal use of an individual?? Only business people can have individual current account?

 

[SSquad]

I don't understand why banks suddenly asking proofs for individual current account.

Isn't individual current account meant for personal use of an individual?? Only business people can have individual current account?

It's for professionals, skill oriented individuals doing business. Product is tailored that way but can be used by any individual.

 

[Ram1]

It's for professionals, skill oriented individuals doing business. Product is tailored that way but can be used by any individual.

According to google,

An individual current account is a type of bank account designed for personal use, allowing individuals to manage their day-to-day financial transactions. Unlike business current accounts, it's tailored for personal finances, offering features like higher transaction limits and access to digital banking services.

individual current accounts are specifically for managing personal finances, including salary deposits, bill payments, and other personal expenses.

According to au bank website
An individual current account is tailored for personal use and is held by a single account holder

 

[xxScriptzxx]

Even i am interested to open individual current account, hdfc denied they are too strict now a days

 

[Ram1]

Even i am interested to open individual current account, hdfc denied they are too strict now a days

What they told?

 

[drvirag]

Canara bank u can open online. Will open tomorrow n let u know.
R u professional. What's the purpose of current ac

 

[Ram1]

Canara bank u can open online. Will open tomorrow n let u know.
R u professional. What's the purpose of current ac

Bro in canara online page itself, it is mentioned account will be activated after successful video kyc and physical verification.

Purpose would be simple, I'm making too much transactions and cash deposits in savings accounts, I'm getting scared of account freezes.
Also For CA, upto 50L cash transactions are safe in terms of IT reporting

 

[drvirag]

Bro in canara online page itself, it is mentioned account will be activated after successful video kyc and physical verification.

Purpose would be simple, I'm making too much transactions and cash deposits in savings accounts, I'm getting scared of account freezes.
Also For CA, upto 50L cash transactions are safe in terms of IT reporting

Ok let me open. I dont think psu bank has time to visit location

 

[Ram1]

Ok let me open. I dont think psu bank has time to visit location

Yeah but psus might ask udyam.

I enquired hdfc account opening guy today. Branch is 25kms away. He said we can open with just aadhar and pan but Bm has to come to ur location to verify business and have to take a selfie in that location. Let me know whenever u want to open.
I replied ok tqs bye

 

[quino]

I don't understand why banks suddenly asking proofs for individual current account.

Isn't individual current account meant for personal use of an individual?? Only business people can have individual current account?

after covid, these individual CA got very popular. many ppl opened it with just individual's pan, aadhaar & committed frauds & money laundering too (due to high cash deposit limits). then rbi gave strict warning to banks that they aren't doing due diligence for individual CA. since then, banks dont want that headache. i.e., unless u give a big IP cheque. that's like a zandu balm for them.

 

[drvirag]

Yeah but psus might ask udyam.

I enquired hdfc account opening guy today. Branch is 25kms away. He said we can open with just aadhar and pan but Bm has to come to ur location to verify business and have to take a selfie in that location. Let me know whenever u want to open.
I replied ok tqs bye

Y not get udyam registration. Its too easy. Nothing required.

 

[Ram1]

Y not get udyam registration. Its too easy. Nothing required.

I dont want to mess my aadhar. I dont trust my state govt, they always try to stop benefits of whole family in case of more itr,more electricity bill etc... found for single person in a family

 

[Pissant]

I want a current account with no documentation. I want to use it for crypto. What options do I have?

 

[Ram1]

Canara bank u can open online. Will open tomorrow n let u know.
R u professional. What's the purpose of current ac

https://caprodweb.canarabank.in/canara/#/basic-details/bd1?act=CA

see last point

 

[Ram1]

I want a current account with no documentation. I want to use it for crypto. What options do I have?

Dont do this. Cyber crime dept freezing accs related to crypto

 

[drvirag]

https://caprodweb.canarabank.in/canara/#/basic-details/bd1?act=CA

see last point

I am opening ac. Will clear this if any1 comes