While specific features can vary, a current account with Sri Ganapathi Urban Co-Operative Bank Ltd. would likely include the following:
- No Limit on Transactions: You can make an unlimited number of deposits and withdrawals, which is ideal for businesses with a high turnover.
- Overdraft Facility: The bank may offer an overdraft facility, allowing you to withdraw money even if your account balance is zero or negative, up to a pre-approved limit.
- No Interest Earned: Balances in a current account typically don't earn any interest.
- Chequebook and Debit Card: You'll receive a chequebook and a debit card for easy access to your funds and for making payments.
- Convenient Banking: The account would likely come with modern banking services, such as internet banking and mobile banking, for easy management of your funds.
- Minimum Balance Requirement: The bank will likely require you to maintain a certain minimum average balance in the account to avoid penalties.
Who Should Open a Current Account?
A current account is a great option for:
- Businesses: Companies, partnerships, and sole proprietorships that need to manage a large number of daily transactions, payments to suppliers, and receipts from customers.
- Public Enterprises and Organizations: Government bodies, trusts, and other organizations that handle large funds and require frequent transactions.
- Traders and Merchants: Individuals involved in trading who need the flexibility to perform multiple daily transactions without restrictions.
