|Company Current Account
The product has been customized to cater to the specific business requirements of public / private limited companies which undertake high value ^non-cash transactions.
* Conditions apply. Please refer to the Schedule of Charges for details.
- No minimum MAB commitment required
- Fluctuations in the payment – collection cycle and concern for liquidity make it difficult for companies to keep track of / maintain adherence to an MAB commitment. The product addresses your concern by not having any minimum MAB commitment requirement. You need to commit to only the value of transactions in your account in a quarter (quarterly throughput), and not to the balance maintained in the account. Quarterly throughput is the sum total of collections and payments in the account in a given quarter.
- Quarterly throughput commitment requirement of Rs. 1 Crore
- Higher free limits for ^non-cash transactions
- No charges on ^non-cash transactions upto Rs. 2 Crore per month. Facilitates lower charges on such transactions, required by such customers.
- Lower charges for high value ^non-cash transactions
- In case you undertake frequent high value ^non-cash transactions in your account for lump sum payments / collections to and from your suppliers / customers, the account minimises your cost for these transactions at by charging a rate of Rs. 0.50/- per Rs. 1000/- above the specified monthly free limit for the same while restricting the maximum amount charged by ICICI Bank to Rs. 500/- per instrument irrespective of the amount.
- No charge on funds transfer between ICICI Bank accounts.
- Funds transfer service between ICICI Bank accounts is completely free. Thus you can avail of free funds transfer facility to third party ICICI Bank accounts of your suppliers / customers etc.
- No charges on RTGS / NEFT services
- No charges on up to 200 cash & clearing transactions a month not including upcountry cheque collection and collections made through Internet banking/ Phone banking/ Mobile banking/ ICICI Bank ATM’s
- Free mobile alerts in case of debit / credit transactions over Rs. 5000/- as well as a daily closing balance alert.
- Anywhere banking
- More than 2500 branches across country
- Extended banking hours
- 9 to 6 / 8 to 8 as applicable
1. This content is for the purpose of information only and not for solicitation. It is not to be deemed as an offer to sell .
2. The features are subject to change as per the Bank's discretion.
3.^Non Cash Transactions includes Demand Drafts, Pay Order, Multicity cheque payments, Local Cheque collection Non base & Upcountry Cheque Collections.
- What is the minimum average monthly balance required in Company Current Account?
- Nil. You only need to maintain a quarterly throughput of Rs. 1 Crore in your account. Throughput is the sum total of collections and payments in your account..
- How is Company Current Account different from regular current accounts?
- No MAB commitment required; Only quarterly throughput commitment needs to be met.
- Higher monthly free limits for ^non-cash transactions
- Please refer the Schedule of Charges for detailed information.