Current account in the business name: documents, fees and how to apply online and offline
Customers, payment gateways, GST and schemes all need a bank account in the business's own name.
How to apply online, step by step
- Apply on the bank's website or app; complete video KYC of the signatories.
How to apply offline (in person)
- Visit a branch with the constitution documents, business PAN, resolution and KYC of signatories.
Documents required for Current account in the business name, and how to get each
Constitution documents: incorporation certificate, MoA and AoA (company), LLP agreement, or partnership deed
Get it online
- Company: the Certificate of Incorporation, e-MoA and e-AoA come with SPICe+ on the MCA portal.
- LLP: the LLP agreement is filed in Form 3 on the MCA portal within 30 days of incorporation.
Get it in person
- Partnership: print the deed on stamp paper of the value the State prescribes, sign before witnesses, notarise, and register it with the State Registrar of Firms.
Fee: Stamp duty as per the State · Time: With incorporation · Official site
Board resolution or letter of authorisation for the person who signs applications
Get it online
- Draft on the letterhead, have it signed by the directors or partners and scan it as a PDF.
Get it in person
- Same, signed on paper; keep the original.
Fee: Free · Time: Same day
PAN card of each founder / director / partner
Get it online
- Instant e-PAN: on the Income Tax e-filing portal choose 'Instant e-PAN', enter Aadhaar and the OTP; the e-PAN PDF arrives in minutes, free.
- Or apply on Protean (NSDL) or UTIITSL with Form 49A for a printed card.
Get it in person
- Fill Form 49A at a PAN centre (Protean / UTIITSL facilitation centre), attach ID, address and date of birth proof and a photo, pay the fee; the card is posted to you.
Fee: Instant e-PAN free; printed card about Rs 107 (Indian address) · Time: Minutes (e-PAN); about 2 weeks (printed card) · Official site
Aadhaar of each founder (linked to a working mobile number)
Get it online
- Already enrolled: download e-Aadhaar from myAadhaar (uidai.gov.in) with the OTP; update the address online with a proof.
Get it in person
- Enrol, or update the mobile number or biometrics, at an Aadhaar Seva Kendra or bank / post office enrolment centre.
Fee: Enrolment free; updates Rs 50 to Rs 100 · Time: Download instantly; updates up to about 30 days · Official site
Proof of the business address: rent agreement or ownership papers, owner's NOC, and a recent utility bill
Get it online
- Rented premises: buy an e-stamp paper for the rent agreement online (SHCIL e-stamping in most States) and get it signed by both sides; some States register leave-and-licence agreements online.
- Get a No Objection Certificate (NOC) from the owner allowing business use of the address.
- Download the latest electricity, water or gas bill of the premises (not older than 2 months).
Get it in person
- Buy stamp paper from a licensed vendor or the sub-registrar's office, draft the agreement, sign before witnesses and notarise it (register it at the sub-registrar's office if the State requires).
- Ask the owner for a signed NOC and a copy of the property tax receipt or utility bill.
Fee: Stamp duty as per the State; notary fee nominal · Time: 1 to 3 days · Official site
Questions people ask
How much does Current account in the business name cost?
Free (minimum balance as per the bank)
How long does Current account in the business name take?
1 to 7 days
Who issues Current account in the business name?
Any scheduled bank
Can I apply for Current account in the business name without an agent?
Yes. Every step above can be done by the founder on the official portal or at the office; agents and consultants are optional.
Official source: https://www.rbi.org.in/. Rules and fees change; the official page is the authority. Checked October 2026.
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