Documents required to open a current account – an easy guide for entrepreneur.

Last Updated on August 27, 2021

If you are just starting as a business, the first pre-requisite is a current bank account with a reputed bank. Opening a current account for your business may seem like a tedious task involving heavy documentation. However, the requirements and process are simpler than you think. Let us understand the current account, its benefit and the documents required to open a current account as below.

Table of Contents

Current Account

A Current Account is a type of bank account that can be opened and operated by individuals, firms, companies, societies, clubs, trusts, institutions etc. It allows the account holder to carry out an unlimited number of deposits, withdrawals, fund transfers, receive cheques or pay by cheques etc. There is no restriction on the number of transactions in a day. The prime objective of a current account is to facilitate smooth transactions for a business.

Benefits of Current Account for Business

Banks enable current account holders to make direct payments using cheques, demand drafts or pay orders. They also extend draft facilities to the current account customers along with Internet banking and Mobile banking facilities. Several other benefits may come with a current account and these vary from one bank to other. In the present age of customization, banks started offering different types of current account designed as per the requirements of different businesses. For example, the average minimum balance requirements can be customised for the current account on the basis of business size.

Process of opening Current Account

You can open a current account at any co-operative or commercial bank with some documents. Banks require KYC (Know Your Customers) norms to be completed before opening a current account. To complete the account opening, certain documents are required. After submission of all the required documents, the account opening formalities are complete and you are all set to operate the account.

Documents required to open a current account

  1. PAN Card: According to the latest RBI guidelines, customers are required to submit a copy of their PAN Card for opening a current account and it is mandatory.
  2. ID Proof: Documents considered for ID Proof are PAN Card, Aadhaar Card, Passport, Voter’s ID card, Driving Licence, Ration Card, and others having a photograph.
  3. Address Proof: Address proof can be Aadhaar Card, Passport, Voter’s ID card, Ration Card, Driving Licence, Lease/Rent Agreement, Property Documents, and Utility Bills, telephone bill etc.
  4. Proof of existence of business: Licenses issued by concerned authorities such as Shop & Establishment Licence, GST Registration Certificate, Import-Export Licence, FSSAI Licence or any business registration certificate issued by the respective authority.
  5. Photo: A photograph of the person opening the account. If it is a partnership firm, company, trust, institution, society or any other association, photographs of all the persons concerned are required.
  6. Others: Partnership deed, Memorandum of Association, Articles of Association, Certificate of Incorporation, Trust Deed etc. as applicable.
  7. Lists: List of Directors, List of members of the managing committee, List of trustees, List of partners, as on date, as applicable for different accounts.

Business-Specific Documents

Along with the prescribed duly filled application form, there may be different requirements for different business entities to open a current account as follows:

  1. Individual or Sole-proprietary: Certificate by GST Authority.
  2. Partner-ship firms: Partner-ship Deed, Photo ID Proof of all partners, Address proof of all partners, colour photo of all partners, Address proof of office/business premises, Certificate by GST Authority and any other licence by the concerned authority.
  3. Companies: Companies are required to submit Business Registration Certificate, Certificate of Incorporation, Address of Communication, list of all directors as on date etc.
  4. Trusts: Address proof of the trust like a rent receipt, rent/lease agreement or property documents, Copy of resolution for opening and operating of account, KYC documents of the person(s) authorised to operate the account, Copy of Trust Deed, Income Tax Registration if the income is exempted for tax and list of trusties as on date.
  5. Society and Associations: Copy of Memorandum of Association, Copy of Registration of Society, Copy of Resolution passed for opening and operating the account. List of members of its Managing Committee, KYC of all the persons authorised to operate the account.
  6. Hindu Undivided Family (HUF):  Latest colour photo of the Karta/authorised signatories of the account. ID proof and address proof of Karta.


All the KYC documents should be valid on the date of submission. Few copies of the documents may be required to be certified by competent authorities. The above documents list is the Indicative list of KYC documents and is subject to change as per regulatory guidelines and internal KYC policy of the respective Bank. PAN Card and Aadhar is a Mandatory document to open a current account as per RBI guidelines.

Frequently Asked Questions

  1. Do all India banks offer current account facility?

Yes, all banks in India offer the current bank account facility.

2. My bank is allowing me to open a current account digitally over video. Will the KYC documents still be required?

Yes. KYC documents are mandatory to open a current account. Even though the bank is extending the feature to open a current account virtually through video KYC, the documentation requirements are same.

3. I have opened a current bank account and require to change details like mobile number or address. Is it possible to do so?

You can update personal details either by visiting your home branch or requesting to update details through internet banking. You can contact your customer support or submit a request on the bank’s website.

4. While opening a current account my bank has requested me to deposit the minimum balance to the current bank account. How can I do so?

You can deposit the minimum balance amount via the following modes –

  • Depositing cash at any of the branches of your bank.
  • Cheque deposits.
  • Electronic transfers through NEFT, RTGS, or UPI.
  • Wire transfer from abroad.