Current Account for Startups - iStartup 2.0 Account
ICICI Bank has introduced ‘iStartup 2.0’, a range of business solutions to assist you beyond your business and banking needs that will help you save time and effort, so that you focus on your core business functions.
Nil Quarterly Average Balance (QAB) requirement
Features & Benefits:
- Complimentary Business Gold Debit Card
- Free 100 IMPS payments for every Rs 1 lakh Minimum Average Balance (MAB) maintained
- Free cash deposit limit up to 6 times the maintained MAB or Rs 75 crore, whichever is lower, from anywhere
- Dedicated Relationship Manager and Priority Customer Care Service
- Preferential Pricing for trade transactions.
For the detailed schedule of charges, Click Here
Quarterly Average Balance (QAB) requirement of Rs 1,00,000
Features and benefits:
- QAB waiver up to one year*
- Free 10 outward cheque returns per month
- Preferential pricing for trade transaction
- Free 150 branch transactions per month for every Rs 1 lakh of balance maintained
- Free 50 Immediate Payment Service (IMPS) transactions per month for every Rs 1 lakh of balance maintained
- Free Business Gold Debit Card
- Dynamic cash deposit, i.e. Anywhere free cash deposit of up to 10 times the maintained Monthly Average Balance (MAB) or Rs 2.5 crore, whichever is lower
For the detailed schedule of charges, Click Here
Quarterly Average Balance (QAB) requirement of Rs 25,000.
Features and benefits:
- QAB waiver up to one year*
- Free 2 outward cheque returns per month
- Free 100 branch transactions per month for every Rs 1 lakh of balance maintained
- Free Business Gold Debit Card
- Dynamic cash deposit, i.e. Anywhere free cash deposit of up to 10 times the maintained Monthly Average Balance (MAB) or Rs 1.2 crore, whichever is lower
For the detailed schedule of charges, Click Here
Startup Current Account Eligibility & Required Documents
Startups current account can be opened within ten years from the date of incorporation of business.
You are eligible if you fall under any of the following categories and have businesses to run:
- Partnership Firms and Limited Liability Partnerships (LLPs)
- Private and Public Limited Companies and One Person Companies (OPCs)
Click here to know the document required to Open a startup current account
FAQ's
A Startup Current Account is a bank account created to cater to the unique business and financial requirements of new age startups and upcoming new businesses. It typically includes features such as a low minimum opening balance, access to online banking and other services.
Startups and new businesses are eligible to apply for a Startup Current Account. A Startup Current Account can be opened within ten years from the date of incorporation of the business. It is particularly beneficial for companies in their early stages seeking finances and access to business banking services.
The minimum balance required for a Startup Current Account varies depending on the type of account you are choosing.
Having a Startup Current Account provides benefits such as customised financial tools, simplified fund management and access to business banking services. This helps startups streamline their operations and concentrate on their growth.
