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Normal Current Account

Current Accounts are active accounts opened by such section of the public like Traders, Businessmen, Corporate Bodies, etc. who like to operate their accounts continuously due to many receipts and payments of money in connection with their business. In these accounts, there is no restriction on the number of withdrawals and deposits.

The initial deposit in cash required for opening a Current Account is as follows: -

  Rural Branches Other Branches
 i) Individual Rs.500/- Rs.2500/-
 ii) Others Rs. 1000/- Rs. 5000/-

The minimum balance required to be maintained in a Current Account is as follows.

  Rural Branches Other Branches
 i) Individual Rs.1000/- Rs.3000/-
 ii) Others Rs. 2500/- Rs. 5000/-
  • Current Accounts may be opened in the names of :-
  • Individual Accounts in the name of a single person. ii) Joint Accounts of two or more individuals.

  • Sole-Proprietory Concern.s

  • Partnership Firms.

  • Joint Hindu Family or Hindu Undivided Family.

  • Associations, Clubs, Societies.

  • Trusts/Other Trust Accounts like Provident Fund A/cs.

  • Private and Public Limited Companies and other undertakings registered under Companies Act, 1956.

  • Executors and Administrators.

  • Other Banks.

  • State Financial Corporations.

  • Government/Quasi Government Departments/Boards/Bodies etc.

LEDGER FOLIO CHARGES

In case of current accounts, a per annum ledger folio charge of Rs.70/- per folio (one side of a ledger page containing approximately 40 entries) is to be charged with the following exemptions. This Incidental Charges are, however, not to be levied on Current accounts in the name of defense personnel/units etc.
For more details, Please contact the Allahabad Bank nearest to you