A current account is a bank account considered by people who regularly conduct a disproportionately high volume of bank transactions. The bank Forms it at the applicant’s request and makes it accessible frequently or instantly. Current accounts offer a wide range of tailored options to help with financial transactions and are related to liquid deposits. Additionally, the HDFC current account benefits you by enabling the use of the bank’s check facility to pay creditors. In contrast to a savings account, the Benefit of a current account in HDFC is that current accounts typically don’t pay interest and have higher minimum balance requirements. The greatest benefit of a current account in HDFC, though, is the simplicity with which account holders can use an overdraft up to a predetermined limit.
A current account is required for every business, regardless of size, to administer its daily transactions. Understanding the Benefit of a current account, in the beginning, is crucial for start-up businesses.
Top 6 Benefits of Current Account in HDFC
There are various benefits of a current account in HDFC. Let’s learn about them:
1. Manage Your Daily Transactions without Difficulty
The First Benefit from a long list of HDFC current account benefits is that the current accounts are ideal for traders, businessmen, and entrepreneurs. They require daily access to their account to handle their business transactions. Depending on the kind of bank account you choose, different withdrawal thresholds apply.
2. Increase Your Transactions without Worrying
From the list of HDFC current account benefits the second one is that Compared to other accounts, current accounts have higher transaction limits. As a result, you can carry out more transactions. When it comes to business transactions, this kind of versatility can be very useful in ensuring that a deal closes.
3. Keep Tabs on and Safeguard Your Transactions
You need to conduct significant business transactions, which must done safely and under close supervision. Thanks to banks, any electronic transaction you carry out using a current account will be safe and secure. This Benefit of a current account in HDFC helps to safeguard your hard-earned money.
4. Utilize Collection Services to Carry out Transactions for Bulk Payments
The fourth benefit of a current account in HDFC is that With an HDFC current account, you can fund your startup in bulk. Additionally, some banks provide digital payment options through their electronic collection services. The bank can assist you in obtaining payments from other parties who owe you money, which is an additional HDFC current account benefit.
5. Conduct International Business
Some banks, like HDFC Bank SmartUp, offer forex infrastructure with bank deposits designed for start-ups in place of a separate account just for foreign exchange. You can hire an expert to help you navigate the legal requirements in international trade and investment. This Benefit of a current account in HDFC helps new entrepreneurs.
6. Improve Your Credit Score
The last but not the least benefit of a current account in HDFC is that While your start-up may initially be unable to obtain a loan, current account plans such as the HDFC Bank SmartUp start giving you a Credit Card in exchange for a Fixed Deposit. Your credit score may be improved as a consequence of upcoming loan applications.
Additionally, current account benefits in HDFC have an overdraft feature that lets you withdraw money beyond the balance of your account. The overdraft is deducted from the subsequent deposit you make to the account.
Also Read: HDFC Bank Easyshop Platinum Debit Card
HDFC’s current account benefits accommodate all customer needs, whether from a small business owner, a large corporation, a trust, a housing society, a professional, etc. With an HDFC Bank Account Balance, one can easily and conveniently manage cash and complete large-scale transactions.
A wide range of services is available through the HDFC Bank Current Account, including local clearing, dynamic limits, instant cash withdrawals and deposits, money transfers, and more. Hope now you know the benefit of a current account in HDFC.
Benefits of a Current Account in HDFC – FAQs
How can I update my mobile number or email address for my current account’s alert feature?
Ans. You can avail the benefit of a current account in HDFC regarding this issue. Please submit a request letter on company letterhead signed by duly certified members at the HDFC Bank branch to register, modify, or delete the mobile or email alert facility.
For the very next alert types, you can sign up for the listed HDFC current account benefits:
- Credit exceeding Rs. 5000
- Debit over 5,000 rupees
- Rejection of an internal check
- Rejection of an outgoing check
- Regular Balance
What are the additional current account benefits in HDFC?
Ans. The current account benefits in HDFC are listed below.
- Full KYC digital account with no monthly service fees.
- There’s no need to go to the branch—access all 250+ of our services online.
- After account activation, start conducting secure transactions with a debit card, UPI, NEFT, IMPS, and RTGS.
- Get your virtual debit card immediately upon opening an account with an e-debit card loaded with offers.
- After opening an account, the Bank will send a Business Classic Debit Card with benefits to your communication address.
- Update your signature anytime after your account is opened using the HDFC Mobile app.