Baroda RERA Current Account Scheme

Yes, small business needs a current account, as the business-related transactions should be routed through a business current account. This current account is particularly suited for small businessmen and proprietors.

Current account can be opened in a business name by submitting the eligible documents.

For more details about the documents required for opening a current account for proprietorship and navigate to “Documents Required” tab on the same page.

Yes. A sole proprietor can open a current account by submitting the documents needed for opening a current account.

Yes, a current account is necessary for sole proprietors, individuals and small businessmen, who run their own businesses. By having a current account, they can enjoy the benefits which an ordinary savings account does not account for.

This is the simplest form of business, where an individual can operate a business as a sole proprietor of the firm with a proprietorship account. He himself owns the business and is also liable for any debts. It can operate in the name of the owner or in the firm’s name.

Proprietorship bank account can be opened by visiting the nearest branch with the valid KYC documents along with other documents.

For more details about the documents required for opening a current account for proprietorship and navigate to“Documents Required” tab on the same page.

It is not a mandatory norm to open a current account for proprietorship firm.

But, to run a business, a current account is required, where you can deposit cash from the business and pay to the creditors and receive fund from digital mode as well as cheques.

Yes, a bank account can be opened in the name of proprietorship firm.

1. Free cheques: First cheque book of 50 leaves free, thereafter charges per leaf will be levied as per latest service charge guidelines.
2. Discount on DEMAT services: Waiver of the 1st year AMC charges of Rs. 250/- for individuals and Rs 550/- for Non individuals, such as individuals, partners, or proprietors.
3. POS, Bharat QR Code & BHIM QR Code: Available on payment of monthly nominal charges.
4. And free (bob World Internet) internet banking