FY 2025–26 saw the launch of 55,200 startups in India, bringing the total to over 2.23 lakh. Adequate financial management is crucial for this massive startup and small business ecosystem. Collecting funding, making payments, and completing transactions smoothly require the right banking solutions. One important foundation is the startup regular current account, which allows organisations to accept deposits, make withdrawals, and transfer funds.
Several banks in India have designed current accounts targeted at startups and small businesses. In this article, we compare the top options, what each offers, where each falls short, and what to check before you apply for a current account.
The IDFC FIRST Startup Current Account is designed to meet the banking needs of early-stage startups. It combines everyday banking with digital payment solutions and business support offerings. One of its headline features is a waiver of the Average Monthly Balance (AMB) requirement for the first three years. That is a meaningful relief during the early phase, though it is worth noting this is a time-limited benefit: once the three-year window closes, the standard balance requirements apply and must be maintained.
• No Average Monthly Balance requirement for the first three years from offline or online current account opening
• Free cash deposits of up to ₹30 lakh per month
• Unlimited free IMPS, NEFT and RTGS transactions
• Free Visa Business Signature Debit Card with unlimited ATM transactions
• All-in-one digital banking app with over 100 features for personal and business banking
• WhatsApp Banking for quick access to account information and banking services
• Complimentary Bulk Upload, Maker-Checker and Virtual Account solutions for payment and collection management
• Free setup and zero annual maintenance charges on Payment Gateway, UPI/QR and POS solutions
• Preferred pricing on foreign exchange conversions and Letter of Credit or Bank Guarantee issuance
• Free GPS-enabled doorstep banking, though limited to one registered location
• Access to 150+ Beyond Banking services, including ERP, HRMS, payroll, taxation, legal support, cloud services and co-working solutions
• Integrated cash management services for bulk payments and collections
• Digital payment acceptance through Payment Gateway, UPI, QR codes and POS terminals
• Advanced digital banking platform providing a consolidated view of business accounts and transactions
Newly incorporated startups seeking a zero-balance current account with digital banking and payment solutions during their first three years of operation.
The HDFC Bank Biz Lite+ Current Account is built for startups and small businesses that rely on digital payments and regular cash transactions. It bundles essential banking with payment acceptance solutions, insurance cover and business rewards. Several of its key benefits are tied to meeting specific conditions rather than being available outright.
The AQB waiver, for instance, only applies when a business achieves ₹3 lakh or more in quarterly transactions specifically through HDFC Soundbox or PoS devices. Businesses that collect payments through other means do not benefit from this waiver. Similarly, zero non-maintenance charges in the second quarter are available only if the account is digitally activated within the first two months of opening. The BizFirst Credit Card first-year fee waiver is also subject to spending conditions.
• Up to six times free cash deposit limit based on the account balance
• Free Business and Payment Protection Insurance cover of up to ₹3 lakh
• AQB waiver on achieving ₹3 lakh or more in quarterly transactions through HDFC Soundbox or PoS devices
• Free NEFT and RTGS transactions through NetBanking and MobileBanking
• Zero non-maintenance charges for the second quarter, provided digital activation is completed within the first two months
• Rental waiver on Soundbox and PoS devices, subject to monthly transaction volume thresholds
• Access to the HDFC BizFirst Credit Card with first-year fee waiver, subject to spending conditions
• Discounts of up to 40% on business purchases through SmartBuy BizDeals
Small businesses, retailers and merchants who primarily transact through HDFC’s Soundbox or PoS infrastructure and can meet the digital activation and quarterly transaction requirements to access the account’s key benefits.
The Kotak Startup Regular Current Account is designed specifically for startups incorporated within the last three years. It offers a straightforward waiver of non-maintenance charges for the full first 12 months from the date of online current account opening, with no conditions attached around device usage or digital activation timelines. Beyond routine banking, the account includes tools for payments, collections, trade transactions and day-to-day operations.
• Waiver of non-maintenance charges for the first 12 months from the offline or online current account opening date
• Free RTGS and NEFT transactions through branches and Net Banking
• Free cash withdrawals at non-home branch locations of up to ₹50,000 per day
• No cash deposit charges up to 10 times the previous month’s average credit balance, with a maximum of ₹1 crore per month
• Free cheque payments and collections across India
• Up to three free outward cheque returns every month
• Secure bulk fund transfers with a Maker-Checker authorisation facility
• Preferential pricing on trade and forex transactions
• Payment and collection solutions for easier reconciliation through RTGS, NEFT and IMPS
• Corporate Salary Account facility for startups for employees
• Collateral-free business loan solutions, subject to eligibility
• Kotak Point of Sale (POS) solutions for accepting digital payments
• Kotak.biz payment collection app for QR-based and digital collections
• Access to partner offers covering business services and operational support
Early-stage startups looking for a feature-rich current account with straightforward first-year relief, digital banking tools, trade support and value-added business services.
Offering something unique is always an objective for startups, and the same logic applies to the current account that supports them. Each of the three accounts above takes a different approach: IDFC FIRST leads with a three-year balance waiver that resets to standard terms once that window closes; HDFC Biz Lite+ bundles insurance and device-linked waivers that deliver real value when the conditions are met; and the Kotak Startup Premium Current Account provides a clean 12-month non-maintenance waiver alongside generous cash deposit limits, free fund transfers, and collateral-free loan access, without requiring a specific transaction device or activation timeline.
The best way to find the right startup regular current account for your business is to align account features to your financial needs and growth timeline. Check eligibility and open a current account for your startup or small business today.
Disclaimer: This content is part of a marketing initiative.
