Best Current Accounts in India: Simplify Your Business Transactions Needs a Current Account

In the fast-evolving world of Indian business, having a reliable current account is more than just a financial necessity—it’s a strategic asset. According to the Reserve Bank of India (RBI), there were over 62 million current accounts in the country as of FY 2023, with the number growing steadily each year. This surge underscores the increasing reliance of Indian entrepreneurs, startups, and MSMEs on banking solutions that streamline their financial operations.

Unlike savings accounts, Current Accounts are specifically tailored for businesses that require high liquidity, unlimited transactions, cash handling facilities, and sophisticated banking tools. Whether you're a freelancer scaling up, a growing MSME, or an established enterprise, choosing the right current account can make a measurable difference in your financial efficiency and bottom line.

Ujjivan Small Finance Bank (SFB) offers a carefully curated suite of current accounts designed to support businesses at every stage of growth. Let's explore these six business-friendly accounts in detail.

6 Best Current Accounts Offered by Ujjivan Small Finance Bank

1. Digital Current Account

The Digital Current Account is ideal for tech-savvy businesses preferring online banking solutions.
 

Features:

• 100% digital journey
• Flexible cash deposit limit
• Designed for individuals
• Multiple product variants

2. Premium Current Account 

The Premium Current Account is designed for growing businesses requiring higher transaction limits and enhanced services.

Features:

• MAB: ₹10,000
• ATM & Shopping Limit: ₹1 lakh/day
• Cash Deposit Limit: 10 times the previous month's MAB or ₹3 lakhs, whichever is higher
• Free Cheque Leaves: 50 per quarter
• Additional Benefits: Free NEFT, RTGS, and IMPS transactions RuPay Classic Debit Card with six free transactions at non-bank ATMs, etc.

3. Business Edge Current Account

The Business Edge Current Account is tailored for medium to large enterprises seeking advanced banking features.

Features:

• MAB (Monthly Average Balance): ₹25,000
• ATM Withdrawal Limit: ₹1.5 lakh/day
• Cash Deposit Limit: Up to 20 times the MAB
• Free Cheque Leaves: 150 per quarter
• Additional Benefits: Free RTGS and NEFT transactions, waiver on CMS charges with proper balance maintenance RuPay Platinum Debit Card with lounge access, and unlimited free transactions at Ujjivan SFB ATMs and 10 free transactions/month at other bank ATMs

4. Privilege Current Account

The Privilege Current Account offers premium features for businesses desiring higher transaction limits and exclusive benefits.
 

Features:

• MAB: ₹50,000
• Cash Deposit Limit: Define your own with Flexi Next/Now
• Free Cheque Leaves: 200 per quarter
• Additional Benefits: Unlimited cash withdrawals from any branch, free CMS services, RuPay Platinum Debit Card with complimentary lounge access and ₹10 lakh personal accident insurance, etc. 

5. Maxima Current Account 

The Maxima Current Account is crafted for high-volume businesses requiring maximum flexibility and services.

Features:

• MAB: ₹1 lakh
• Cash Deposit Limit: Define your own with Flexi Next/Now
• Additional Benefits: RuPay Select Debit Card, free CMS services, tailored solutions for large-scale operations, etc.

6. Regular Current Account 

This account is ideal for startups and small businesses seeking straightforward banking solutions.

• Minimum Average Balance (MAB): ₹5,000
• ATM Withdrawal Limit: ₹50,000/day
• Cash Deposit Limit: Up to ₹1.5 lakh/month
• Free Cheque Leaves: 25 per quarter
• Additional Benefits: Unlimited free ATM transactions at Ujjivan SFB ATMs, doorstep cash and cheque pick-up in select cities, 24/7 customer support in preferred languages, etc.

Why Your Business Needs a Current Account? 

A current account isn't just a place to park your money—it's the financial backbone of your business. Here’s why:

• Higher Transaction Limit: Most current accounts allow higher deposits and withdrawal limit, unlike savings accounts that have monthly transaction caps.
• Cash Flow Management: They help manage daily business inflows and outflows seamlessly with tools like bulk payments, NEFT/RTGS, and cheque facilities.
• No Interest Earnings, But High Utility: While they don’t earn interest, current accounts compensate by offering features like overdrafts, higher limits, and credit facilities.
• Professional Image: Accepting and making payments from a business current account establishes credibility and professionalism with clients, vendors, and partners.
• Tax Compliance & Auditing: Business expenses and incomes are better tracked for GST filings, audits, and IT returns, making compliance far easier.