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Payments

Banking+

Payroll

Partners

Resources

Support

Current Account

The command centre
for your business finance

The command centre
for your business finance

The command centre
for your business finance

Open Current Account online with RazorpayX

Business Banking+ and optimize your money movement with automation.

Open Current Account online with RazorpayX

Business Banking+ and optimize your money movement with automation.

Current Account powered by:

Trusted by

Trusted by

10,000+ businesses

10,000+ businesses

Built for Scale

Built for Scale

50,000 payouts in a single OTP with industry-leading payouts success rates

50,000 payouts in a single OTP with industry-leading payouts success rates

Powerful Automation

Automate vendor payments, taxes, payroll, and more with a new-age digital current account

Smart Dashboard

Next-gen current account to manage inflows and outflows easily via desktop or mobile app

Delegate with Control

Collaborate with granular access controls and entirely self-serve online approval workflows

Try it yourself.

Check out our live demo!

RazorpayX powered Current Accounts

RazorpayX powered Current Accounts

RazorpayX powered Current Accounts

Do more than just banking

Beneficiary addition

& superior payouts

Multi-user experience

Collaboration with
chartered accountant

Banking on the go

Smart bulk payouts

Integrations

Insights

Premium support

Everything else you need from your bank

Business Banking+

(RazorpayX powered Current Account)

Instant addition

No cooling-off period

No transfer limits

Granular control

Unlimited users

Easy multi-level approvals

Provide view-only access

Self-serve reports

(transactions, invoices, challans)

Send, approve, track payments, on the go

50,000 payouts in one OTP

Smart & simple Excel templates

Accounting integrations

(ZohoBooks, Tally, ERP software)

Popular business tools (Slack, Shopify)

Smart dashboard

Auto-spend categorization

Priority support

Prompt issue resolution

Dedicated relationship manager

Cheque leaves

Debit Card

Cash deposits

Walk-in branch facility

OD facility

and so much more

Traditional
Current Account

24 to 48 hours cooling-off period

Limited users

Complicated maker-checker

Spend hours per month on emails and paperwork

A non-intuitive mobile experience

Complex templates prone to errors



Zero integrations with your business

and finance tools

Read bank statements and Excel sheets

Broken support experience

Requires multiple follow-ups and reminders

No dedicated channel of support

Cheque leaves

Debit Card

Cash deposits

Walk-in branch facility

OD facility

Business Banking+

(RazorpayX powered Current Account)

Traditional Current Account
Beneficiary addition

& superior payouts

Instant addition

No cooling-off period

No transfer limits

24 to 48 hours cooling-off period

Multi-user experience

Granular control

Unlimited users

Easy multi-level approvals

Limited users

Complicated maker-checker

Collaboration with
chartered accountant

Provide view-only access

Self-serve reports

(transactions, invoices, challans)

Spend hours per month on emails and paperwork

Banking on the go

Send, approve, track payments, on the go

A non-intuitive mobile experience

Smart bulk payouts



50,000 payouts in one OTP

Smart & simple Excel templates

Complex templates prone to errors



Integrations

Accounting integrations

(ZohoBooks, Tally, ERP software)

Popular business tools (Slack, Shopify)

Zero integrations with your business and finance tools

Insights

Smart dashboard

Auto-spend categorization

Read bank statements and Excel sheets

Premium support

Priority support

Prompt issue resolution

Dedicated relationship manager

Broken support experience

Requires multiple follow-ups and reminders

No dedicated channel of support

Everything else you

need from your bank

Cheque leaves

Debit Card

Cash deposits

Walk-in branch facility

OD facility

and so much more

Cheque leaves

Debit Card

Cash deposits

Walk-in branch facility

OD facility

Current Account powered by:

Current Account powered by:

Running a business is hard.
Make the money movement easy.

Running a business is hard. Make the money movement easy.

Spending hours on payments? 



Spending hours on payments?

Spending hours on payments? 



Now it takes seconds.

Now it takes seconds.

Lightning-fast smart payouts

Make 50,000 payouts in just a few taps

Lightning-fast smart payouts

Make 50,000 payouts in just a few taps

Lightning-fast smart payouts

Make 50,000 payouts in just a few taps

No bank detail?

Instant money transfers with just a few contact details

No bank detail?

Instant money transfers with just a few contact details

No bank detail?

Instant money transfers with just a few contact details

Be on time, always

Schedule payments, get reminders

Be on time, always

Schedule payments, get reminders

Be on time, always

Schedule payments, get reminders

APIs powered payout

100% secure payments with 99.9% success rates

APIs powered payout

100% secure payments with 99.9% success rates

APIs powered payout

100% secure payments with 99.9% success rates

Working with a team?

Working with a team?

Get more control.

Get more control.

Multiple users?

Assign user roles & custom access

Multiple users?

Assign user roles & custom access

Multiple users?

Assign user roles & custom access

Stay OTP-free!

Set easy approval workflows

Stay OTP-free!

Set easy approval workflows

Stay OTP-free!

Set easy approval workflows

Approve on the go

Use our best-in-class mobile app

Approve on the go

Use our best-in-class mobile app

Approve on the go

Use our best-in-class mobile app

Delegate with confidence!

Complete audit-trial of all activities & transactions

Delegate with confidence!

Complete audit-trial of all activities & transactions

Delegate with confidence!

Complete audit-trial of all activities & transactions

Go spreadsheet free

Streamline workflows and eliminate manual errors with online bank-account and accounting-software integration.

Spend less time with your accountant

Give access to everything your CA needs including payments, invoices, challans and more.

Real - time insights

Know what's happening with your cash flow anytime, anywhere with an intuitive dashboard.

Features of Current Account

Features of Current Account

RazorpayX powered Current Accounts come with features that make business banking better than ever before.

Internet banking with lowest downtime

Internet banking with lowest downtime

Auto sweep facility

Auto sweep facility

NEFT/RTGS/IMPS support

NEFT/RTGS/IMPS support

Free local cheque collection

Free local cheque collection

Free domestic ATM transactions

Free domestic ATM transactions

Instant bulk payouts with world-class APIs

Instant bulk payouts with world-class APIs

Penny-drop bank account verification

Penny-drop bank account verification

Easily customizable multi-user workflow

Easily customizable multi-user workflow

Accounts payables management

Accounts payables management

Walk-in branch facility and online banking

Walk-in branch facility and online banking

Dedicated relationship manager

Dedicated relationship manager

Payroll and HR management

Payroll and HR management

Forex, escrow & more

Forex, escrow & more

Access to credit with Razorpay Capital

Access to credit with Razorpay Capital

Debit cards, cheque leaves, OD facility

Debit cards, cheque leaves, OD facility

Internet banking with lowest downtime

Internet banking with lowest downtime

Auto sweep facility

Auto sweep facility

NEFT/RTGS/IMPS support

NEFT/RTGS/IMPS support

Free local cheque collection

Free local cheque collection

Free domestic ATM transactions

Free domestic ATM transactions

Instant bulk payouts with world-class APIs

Instant bulk payouts with world-class APIs

Penny-drop bank account verification

Penny-drop bank account verification

Easily customizable multi-user workflow

Easily customizable multi-user workflow

Accounts payables management

Accounts payables management

Walk-in branch facility and online banking

Walk-in branch facility and online banking

Dedicated relationship manager

Dedicated relationship manager

Payroll and HR management

Payroll and HR management

Forex, escrow & more

Forex, escrow & more

Access to credit with Razorpay Capital

Access to credit with Razorpay Capital

Debit cards, cheque leaves, OD facility

Debit cards, cheque leaves, OD facility

Open Digital Current Account with RazorpayX Business Banking+

Our Banking Partners

RazorpayX powers Current Accounts, supported by our banking partners ICICI Bank, Yes Bank,Axis Bank and RBL Bank for businesses of all sizes. Get benefits like fund transfer, bank account verification, unlimited cash deposits and withdrawals, etc..

Digital current account features:

Paperless processing in less than 24 hours

No more money or time wasted on tedious manual tasks

Mobile app & internet banking with no downtime

Instant payouts to vendors, customers, employees & more

Open Digital Current Account with RazorpayX Business Banking+

Our Banking Partners

RazorpayX powers Current Accounts, supported by our banking partners ICICI Bank, Yes Bank,Axis Bank and RBL Bank for businesses of all sizes. Get benefits like fund transfer, bank account verification, unlimited cash deposits and withdrawals, etc..

Digital current account features:

Paperless processing in less than 24 hours

No more money or time wasted on tedious manual tasks

Mobile app & internet banking with no downtime

Instant payouts to vendors, customers, employees & more

Open Digital Current Account with RazorpayX Business Banking+

Our Banking Partners

RazorpayX powers Current Accounts, supported by our banking partners ICICI Bank, Yes Bank,Axis Bank and RBL Bank for businesses of all sizes. Get benefits like fund transfer, bank account verification, unlimited cash deposits and withdrawals, etc..

Digital current account features:

Paperless processing in less than 24 hours

No more money or time wasted on tedious manual tasks

Mobile app & internet banking with no downtime

Instant payouts to vendors, customers, employees & more

How to open a RazorpayX powered Current Account Online?

How to open a RazorpayX powered Current Account Online?

RazorpayX Business Banking+ comes with a digital current account that can be opened entirely online.

RazorpayX Business Banking+ comes with a digital current account that can be opened entirely online.

Signup with your phone number, email ID and GSTIN

A RazorpayX representative will contact you to verify your details

A Relationship Manager will visit your office for final verifications

Log in to your RazorpayX Dashboard to get started!

The first and only current account
that integrates all your finances

Replace multiple disconnected financial operations with a fully digital Current Account

  • Smart Payouts

    Instant payouts,
anytime, anywhere

  • Bulk Payouts

    Bulk payouts that
are 10x smarter

  • Accounting Integrations

    Easy integrations with accounting softwares you use

  • Vendor Payments

    Add, track, and pay invoices by just forwarding an email

  • Tax Payments

    Pay TDS, Advance Tax and GST
in 30 seconds

  • Payroll

    Automated payroll, tax filings, and benefits, in one place

  • Payment Gateway

    Get paid seamlessly with Razorpay Suite

  • Smart Payouts

    Instant payouts,
anytime, anywhere

  • Bulk Payouts

    Bulk payouts that
are 10x smarter

  • Accounting Integrations

    Easy integrations with accounting softwares you use

  • Vendor Payments

    Add, track, and pay invoices by just forwarding an email

  • Tax Payments

    Pay TDS, Advance Tax and GST
in 30 seconds

  • Payroll

    Automated payroll, tax filings, and benefits, in one place

  • Payment Gateway

    Get paid seamlessly with Razorpay Suite

  • Smart Payouts
    Instant payouts,
anytime, anywhere
  • Bulk Payouts
    Bulk payouts that
are 10x smarter
  • Accounting Integrations
    Easy integrations with accounting softwares you use
  • Vendor Payments
    Add, track, and pay invoices by just forwarding an email
  • Tax Payments
    Pay TDS, Advance Tax and GST
in 30 seconds
  • Payroll
    Automated payroll, tax filings, and benefits, in one place
  • Payment Gateway
    Get paid seamlessly with Razorpay Suite

Get the right fit and greatest value

Everything you need to spend less

RazorpayX Business Banking+

RazorpayX Business Banking+

Core Plan

Core Plan

For businesses just starting up

For businesses just starting up

A seamless starter package with essential banking features like a digital-first current account to kickstart your business finances on solid ground.

Our core package offers a high-tech dashboard with superior payouts experience & mobile app access - for on-the-go banking.

A seamless starter package with essential banking features like a digital-first current account to kickstart your business finances on solid ground.

Our core package offers a high-tech dashboard with superior payouts experience & mobile app access - for on-the-go banking.

Instant beneficiary addition

Instant beneficiary addition

Beneficiary Payout Views

Beneficiary Payout Views

Mobile Access

Mobile Access

Instant beneficiary addition

Instant beneficiary addition

RazorpayX Business Banking+

RazorpayX Business Banking+

Pro Plan

Pro Plan

For mid-sized businesses

For mid-sized businesses

Streamline your business finances with a reliable & scalable system with total control.

On top of the Core features, the Pro package supports multi-users with granular access controls and workflows along with bulk and API payout options.

Streamline your business finances with a reliable & scalable system with total control.

On top of the Core features, the Pro package supports multi-users with granular access controls and workflows along with bulk and API payout options.

Smart bulk payouts and API payouts

Smart bulk payouts & API payouts

Payout links & bulk payout links

Payout links & bulk payout links

Multi-user experience

Multi-user experience

Custom access control

Custom access control

Department-wise Access

Department-wise Access

RazorpayX Business Banking+

RazorpayX Business Banking+

Advanced Plan

Advanced Plan

For scaled-up businesses

For scaled-up businesses

Our most advanced offering helps automate and digitize every facet of your business payments journey.

This full platform experience includes vendor payments, automated accounting, department-wise access controls and much more.

Our most advanced offering helps automate and digitize every facet of your business payments journey.

This full platform experience includes vendor payments, automated accounting, department-wise access controls and much more.

Invoice payments

Invoice payments

Industry Best OCR Experience

Industry Best OCR Experience

Email based approvals

Email based approvals

Accounting integration

Accounting integration

Custom reports downloads

Custom reports downloads

RAZORPAYX PARTNERS

RAZORPAYX PARTNERS

Simplify your Client's
Business Finance Process

Simplify your Client's
Business Finance Process

Join our partner program and expand your suite of services.

Join our partner program and expand
your suite of services.

Customer stories

Leading businesses depend on us to make business payments accurately, fast & delightful

  • With RazorpayX Payroll, all our compliances are taken care of & everything is automated. This I believe is the biggest USP of the product.

    Mayank Khandelwal

    CTO, The Treebo Hotels

    Play Video

  • Your API documentation is world class and that gives our product & engineering teams a lot of confidence to integrate with the platform. 

    Mayank Kapoor

    CTO, Rupyy by CarDekho

    Play Video

  • Everything from direct access to managers for uploading invoices, easy approvals, on-time employee salaries, to automatic compliances has been nothing short of a boon for us.

    Tarun Bhambra

    Co-founder, Orange Health

    Play Video

  • We now receive all invoices directly on the dashboard and they are ready with details pre-filled. It just takes a few clicks to stay on top of our vendor payments.

    Chetan Mahajan

    Founder & CEO, The Mavericks

  • In a few hours we were able to setup the entire Payroll Management on RazorpayX. We saved 500+ hours and achieved 40% Cost Reduction.

    Aditya Shankar

    Co-Founder, Doubtnut

  • My whole world runs on Razorpay. Be it receiving payments, or making vendor payments, or running my payroll. If this company didn't exist I would have to struggle to make these pieces come together.

    Ankur Warikoo

    Founder, Nearbuy

    Play Video

Customer stories

Leading businesses dependon us to make business payments accurately, fast & delightful
  • With RazorpayX Payroll, all our compliances are taken care of & everything is automated. This I believe is the biggest USP of the product.

    Mayank Khandelwal

    CTO, The Treebo Hotels

    Play Video

  • Your API documentation is world class and that gives our product & engineering teams a lot of confidence to integrate with the platform. 

    Mayank Kapoor

    CTO, Rupyy by CarDekho

    Play Video

  • Everything from direct access to managers for uploading invoices, easy approvals, on-time employee salaries, to automatic compliances has been nothing short of a boon for us.

    Tarun Bhambra

    Co-founder, Orange Health

    Play Video

  • We now receive all invoices directly on the dashboard and they are ready with details pre-filled. It just takes a few clicks to stay on top of our vendor payments.

    Chetan Mahajan

    Founder & CEO, The Mavericks

  • In a few hours we were able to setup the entire Payroll Management on RazorpayX. We saved 500+ hours and achieved 40% Cost Reduction.

    Aditya Shankar

    Co-Founder, Doubtnut

  • My whole world runs on Razorpay. Be it receiving payments, or making vendor payments, or running my payroll. If this company didn't exist I would have to struggle to make these pieces come together.

    Ankur Warikoo

    Founder, Nearbuy

    Play Video

Customer stories

Leading businesses depend on us to make business payments accurately, fast & delightful

  • With RazorpayX Payroll, all our compliances are taken care of & everything is automated. This I believe is the biggest USP of the product.

    Mayank Khandelwal

    CTO, The Treebo Hotels

    Play Video

  • Your API documentation is world class and that gives our product & engineering teams a lot of confidence to integrate with the platform. 

    Mayank Kapoor

    CTO, Rupyy by CarDekho

    Play Video

  • Everything from direct access to managers for uploading invoices, easy approvals, on-time employee salaries, to automatic compliances has been nothing short of a boon for us.

    Tarun Bhambra

    Co-founder, Orange Health

    Play Video

  • We now receive all invoices directly on the dashboard and they are ready with details pre-filled. It just takes a few clicks to stay on top of our vendor payments.

    Chetan Mahajan

    Founder & CEO, The Mavericks

  • In a few hours we were able to setup the entire Payroll Management on RazorpayX. We saved 500+ hours and achieved 40% Cost Reduction.

    Aditya Shankar

    Co-Founder, Doubtnut

  • My whole world runs on Razorpay. Be it receiving payments, or making vendor payments, or running my payroll. If this company didn't exist I would have to struggle to make these pieces come together.

    Ankur Warikoo

    Founder, Nearbuy

    Play Video

Bank smart, scale faster with RazorpayX powered Current Accounts

Frequently asked questions

Frequently asked questions

Frequently asked questions

Explore our FAQ section to find answers about RazorpayX's business financial solutions

Explore our FAQ section to find answers about RazorpayX's business financial solutions

Explore our FAQ section to find answers about RazorpayX's business financial solutions

What is a current account?

A current account is a deposit account that allows account holders to manage everyday transactions and cash flow. Current accounts allow a significantly higher volume of transactions and specialized business finance services like bulk payouts, payroll and vendor management and more. This makes current accounts perfect for the banking needs of businesses, professionals and entrepreneurs.

What are digital current accounts?

A digital current account is a type of current account where businesses can digitally manage their finances. Today, all current accounts are digital - account holders can access their current account, make transactions and view account balances online via a mobile app or a dashboard.

What are the uses of a current account?

Opening a current account has significant benefits for businesses of all sizes. Current accounts help businesses and entrepreneurs manage their everyday banking needs. With a robust current account, you can make and receive high volumes of payments with no limit. You can also make use of various business banking features like overdraft facility, automated vendor management and payroll, bulk payouts and more.

What are the benefits of a current account?

Current accounts are very convenient for businesses to manage their finances since businesses have very specialized banking needs that cannot be fulfilled with a simple savings account. They allow businesses to make and receive payments, offer overdraft and credit facilities, as well as business services like vendor management, approval workflows, automated payroll and more.

What are the benefits of opening a current account online?

Online current accounts offer ease of access, flexibility and a wide range of products and services. The process of opening a current account online is also significantly easier and faster, and can be done from the comfort your home. Today, all businesses prefer digitally-enabled solutions like RazorpayX Business Banking+.

What are the different types of current account?

What is the eligibility criteria to open a current account?

What are the steps to open a RazorpayX powered current account online?

What are the documents required to open a current account online?

What is Average Monthly Balance in current account and how is it calculated?

Monthly Average Balance is the minimum amount of money your current account should have on average in a month. calculated using two values: the sum of all closing balances in the month and the number of days in the month. The formula to calculate Monthly Average Balance (MAB) is: Monthly Average Balance (MAB) = Total end of the day closing balance / number of days in the month.

Is GST required to open current account online?

No, you do not need to register under the GST scheme or obtain a GST Identification Number (GSTIN) to open a current account. In fact, you need a functional current account to register under GST.

Can sole proprietor open current account online?

Yes! If you are a sole proprietor, you can open a current account online. For details on the documents you will need for KYC, check out our blog: Documents Required for Opening a Current Account.

What factors should you consider while opening a current account?

Is there any interest paid on current account?

Current accounts do not earn interest on the balance held in the account. This is because they are designed for easy access and frequent transactions, unlike savings accounts where funds are typically left untouched for longer periods. Current accounts offer other benefits, such as check writing, debit cards, and overdraft facilities.

Is current account taxable?

No, current accounts are not taxable since they are a no-interest account.

How can you transfer cash via current account?

What is the difference between a current account and a savings account?

  • A current account is used by businesses and high net-worth individuals. It supports high transaction volumes and offers specialized features such as corporate credit cards, internet banking, unlimited withdrawal, etc. Since a current account is intended for such large transaction volumes, it typically does not earn interest.

  • A savings account is meant to be used by individuals to store money and transact in limited volumes. Savings accounts earn interest on stored funds, and the minimum balance requirement is also lower than current accounts. 

  • What is the minimum balance requirement for a current account?

    Minimum balance requirements vary across banks and current account offerings. Current accounts with lower MAB requirements might not offer all the features as a current account with higher MAB requirements. 

    What is a current account?

    A current account is a deposit account that allows account holders to manage everyday transactions and cash flow. Current accounts allow a significantly higher volume of transactions and specialized business finance services like bulk payouts, payroll and vendor management and more. This makes current accounts perfect for the banking needs of businesses, professionals and entrepreneurs.

    What are digital current accounts?

    A digital current account is a type of current account where businesses can digitally manage their finances. Today, all current accounts are digital - account holders can access their current account, make transactions and view account balances online via a mobile app or a dashboard.

    What are the uses of a current account?

    Opening a current account has significant benefits for businesses of all sizes. Current accounts help businesses and entrepreneurs manage their everyday banking needs. With a robust current account, you can make and receive high volumes of payments with no limit. You can also make use of various business banking features like overdraft facility, automated vendor management and payroll, bulk payouts and more.

    What are the benefits of a current account?

    Current accounts are very convenient for businesses to manage their finances since businesses have very specialized banking needs that cannot be fulfilled with a simple savings account. They allow businesses to make and receive payments, offer overdraft and credit facilities, as well as business services like vendor management, approval workflows, automated payroll and more.

    What are the benefits of opening a current account online?

    Online current accounts offer ease of access, flexibility and a wide range of products and services. The process of opening a current account online is also significantly easier and faster, and can be done from the comfort your home. Today, all businesses prefer digitally-enabled solutions like RazorpayX Business Banking+.

    What are the different types of current account?

    What is the eligibility criteria to open a current account?

    What are the steps to open a RazorpayX powered current account online?

    What are the documents required to open a current account online?

    What is Average Monthly Balance in current account and how is it calculated?

    Monthly Average Balance is the minimum amount of money your current account should have on average in a month. calculated using two values: the sum of all closing balances in the month and the number of days in the month. The formula to calculate Monthly Average Balance (MAB) is: Monthly Average Balance (MAB) = Total end of the day closing balance / number of days in the month.

    Is GST required to open current account online?

    No, you do not need to register under the GST scheme or obtain a GST Identification Number (GSTIN) to open a current account. In fact, you need a functional current account to register under GST.

    Can sole proprietor open current account online?

    Yes! If you are a sole proprietor, you can open a current account online. For details on the documents you will need for KYC, check out our blog: Documents Required for Opening a Current Account.

    What factors should you consider while opening a current account?

    Is there any interest paid on current account?

    Current accounts do not earn interest on the balance held in the account. This is because they are designed for easy access and frequent transactions, unlike savings accounts where funds are typically left untouched for longer periods. Current accounts offer other benefits, such as check writing, debit cards, and overdraft facilities.

    Is current account taxable?

    No, current accounts are not taxable since they are a no-interest account.

    How can you transfer cash via current account?

    What is the difference between a current account and a savings account?

  • A current account is used by businesses and high net-worth individuals. It supports high transaction volumes and offers specialized features such as corporate credit cards, internet banking, unlimited withdrawal, etc. Since a current account is intended for such large transaction volumes, it typically does not earn interest.

  • A savings account is meant to be used by individuals to store money and transact in limited volumes. Savings accounts earn interest on stored funds, and the minimum balance requirement is also lower than current accounts. 

  • What is the minimum balance requirement for a current account?

    Minimum balance requirements vary across banks and current account offerings. Current accounts with lower MAB requirements might not offer all the features as a current account with higher MAB requirements. 

    What is a current account?

    A current account is a deposit account that allows account holders to manage everyday transactions and cash flow. Current accounts allow a significantly higher volume of transactions and specialized business finance services like bulk payouts, payroll and vendor management and more. This makes current accounts perfect for the banking needs of businesses, professionals and entrepreneurs.

    What are digital current accounts?

    A digital current account is a type of current account where businesses can digitally manage their finances. Today, all current accounts are digital - account holders can access their current account, make transactions and view account balances online via a mobile app or a dashboard.

    What are the uses of a current account?

    Opening a current account has significant benefits for businesses of all sizes. Current accounts help businesses and entrepreneurs manage their everyday banking needs. With a robust current account, you can make and receive high volumes of payments with no limit. You can also make use of various business banking features like overdraft facility, automated vendor management and payroll, bulk payouts and more.

    What are the benefits of a current account?

    Current accounts are very convenient for businesses to manage their finances since businesses have very specialized banking needs that cannot be fulfilled with a simple savings account. They allow businesses to make and receive payments, offer overdraft and credit facilities, as well as business services like vendor management, approval workflows, automated payroll and more.

    What are the benefits of opening a current account online?

    Online current accounts offer ease of access, flexibility and a wide range of products and services. The process of opening a current account online is also significantly easier and faster, and can be done from the comfort your home. Today, all businesses prefer digitally-enabled solutions like RazorpayX Business Banking+.

    What are the different types of current account?

    What is the eligibility criteria to open a current account?

    What are the steps to open a RazorpayX powered current account online?

    What are the documents required to open a current account online?

    What is Average Monthly Balance in current account and how is it calculated?

    Monthly Average Balance is the minimum amount of money your current account should have on average in a month. calculated using two values: the sum of all closing balances in the month and the number of days in the month. The formula to calculate Monthly Average Balance (MAB) is: Monthly Average Balance (MAB) = Total end of the day closing balance / number of days in the month.

    Is GST required to open current account online?

    No, you do not need to register under the GST scheme or obtain a GST Identification Number (GSTIN) to open a current account. In fact, you need a functional current account to register under GST.

    Can sole proprietor open current account online?

    Yes! If you are a sole proprietor, you can open a current account online. For details on the documents you will need for KYC, check out our blog: Documents Required for Opening a Current Account.

    What factors should you consider while opening a current account?

    Is there any interest paid on current account?

    Current accounts do not earn interest on the balance held in the account. This is because they are designed for easy access and frequent transactions, unlike savings accounts where funds are typically left untouched for longer periods. Current accounts offer other benefits, such as check writing, debit cards, and overdraft facilities.

    Is current account taxable?

    No, current accounts are not taxable since they are a no-interest account.

    How can you transfer cash via current account?

    What is the difference between a current account and a savings account?

  • A current account is used by businesses and high net-worth individuals. It supports high transaction volumes and offers specialized features such as corporate credit cards, internet banking, unlimited withdrawal, etc. Since a current account is intended for such large transaction volumes, it typically does not earn interest.

  • A savings account is meant to be used by individuals to store money and transact in limited volumes. Savings accounts earn interest on stored funds, and the minimum balance requirement is also lower than current accounts. 

  • What is the minimum balance requirement for a current account?

    Minimum balance requirements vary across banks and current account offerings. Current accounts with lower MAB requirements might not offer all the features as a current account with higher MAB requirements. 

    Razorpay is the only payments solution in India that allows businesses to accept, process and disburse payments with its product suite. It gives you access to all payment modes including credit card, debit card, netbanking, UPI and popular wallets including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money and PayZapp.

    RazorpayX supercharges your business banking experience, bringing effectiveness, efficiency, and excellence to all financial processes. With RazorpayX, businesses can get access to fully-functional current accounts, supercharge their payouts and automate payroll compliance.


    Manage your marketplace, automate bank transfers, collect recurring payments, share invoices with customers and avail working capital loans - all from a single platform. Fast forward your business with Razorpay.

    Disclaimer: The RazorpayX powered Current Account and VISA corporate credit card are provided by RBI licensed banks. Your RazorpayX powered current account is provided by our partner banks i.e, ICICI, RBL, Yes bank, in accordance with RBI regulations. RazorpayX itself is not a bank and doesn't hold or claim to hold a banking license.

    Razorpay is the only payments solution in India that allows businesses to accept, process and disburse payments with its product suite. It gives you access to all payment modes including credit card, debit card, netbanking, UPI and popular wallets including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money and PayZapp.

    RazorpayX supercharges your business banking experience, bringing effectiveness, efficiency, and excellence to all financial processes. With RazorpayX, businesses can get access to fully-functional current accounts, supercharge their payouts and automate payroll compliance.


    Manage your marketplace, automate bank transfers, collect recurring payments, share invoices with customers and avail working capital loans - all from a single platform. Fast forward your business with Razorpay.

    Disclaimer: The RazorpayX powered Current Account and VISA corporate credit card are provided by RBI licensed banks. Your RazorpayX powered current account is provided by our partner banks i.e, ICICI, RBL, Yes bank, in accordance with RBI regulations. RazorpayX itself is not a bank and doesn't hold or claim to hold a banking license.

    Razorpay is the only payments solution in India that allows businesses to accept, process and disburse payments with its product suite. It gives you access to all payment modes including credit card, debit card, netbanking, UPI and popular wallets including JioMoney, Mobikwik, Airtel Money, FreeCharge, Ola Money and PayZapp.

    RazorpayX supercharges your business banking experience, bringing effectiveness, efficiency, and excellence to all financial processes. With RazorpayX, businesses can get access to fully-functional current accounts, supercharge their payouts and automate payroll compliance.


    Manage your marketplace, automate bank transfers, collect recurring payments, share invoices with customers and avail working capital loans - all from a single platform. Fast forward your business with Razorpay.

    Disclaimer: The RazorpayX powered Current Account and VISA corporate credit card are provided by RBI licensed banks. Your RazorpayX powered current account is provided by our partner banks i.e, ICICI, RBL, Yes bank, in accordance with RBI regulations. RazorpayX itself is not a bank and doesn't hold or claim to hold a banking license.