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Documents required for Opening a Current Account Online | YES BANK

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If you’re a business owner who needs multiple transactions on a regular basis then you would be aware of an account called ‘Current Account’. However, take note that owning a current account is not a prerequisite for carrying on a business. It is only needed when your business requires many incoming and outgoing bank transactions on a daily, weekly or monthly basis. It’s best to open a current account as they offer a few benefits such as:

  • Limitless withdrawals and transactions using the account balance

  • Unlimited deposits being made into the home branch of the bank

  • Issuance of cheques, request for pay-orders and demand drafts

  • Internet and mobile banking facility, making it easier for people to carry out large-volume day to day business transactions seamlessly

Type of current accounts at YES BANK

At YES BANK, we have different benefits for different requirements. YES BANK offers an exclusive 3-tier structure for current accounts as mentioned below:

  1. Edge Business

  2. Prime Business

  3. Exclusive Business

Find out more details about theses here: https://bit.ly/2nwF06Z

Once you’re convinced that YES BANK is the right choice for you to open a Current Account at, then depending upon the kind of business you have there are different documents required for opening a current account. Let’s find out what those documents are.

What are the documents required for a current account?

Documents required for opening a current account by a public company:

  1. Account Opening Form (AOF)

  2. Beneficial Ownership (BO)

  3. Documentation for Entity Proof – (any one of the following documents)

    1. MOA

    2. AOA

    3. Certificate of Incorporation

    4. Certificate of Commencement of Business

    5. Board Resolution

  4. PAN Card

  5. Entity Address Documentation- (any one of the following documents)

    1. Certificate of Registration

    2. Business Licence issued by state- central govt.

    3. Sales Tax 2

    4. IT return Certificate

    5. VAT Certificate

    6. PAN Intimation letter

    7. Import-Export certificate

    8. Registration Cert with PF commissioner

    9. Form 18

  6. Individual documentation: (Identity Proof - anyone of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt.

    5. Passbook scheduled commercial bank

    6. Marriage certificate

    7. Voters ID card

    8. Aadhar Card

  7. Signature Proof - (any one of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt

Documents required for opening a current account by a private company

  1. Account Opening Form (AOF)

  2. Beneficial Ownership (BO)

  3. Documentation for Entity Proof - (any one of the following documents)

    1. MOA

    2. AOA

    3. Certificate of Incorporation

    4. Board Resolution

  4. PAN Card

  5. Entity Address Documentation- (any one of the following documents)

    1. Certificate of Registration

    2. Business Licence issued by state- central govt.

    3. Sales Tax 2

    4. IT return Certificate

    5. VAT Certificate

    6. PAN intimation letter

    7. Import-Export certificate

    8. Registration Cert with PF commissioner

    9. Form 18

  6. Individual documentation (Identity Proof - anyone of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt.

    5. Passbook scheduled commercial bank

    6. Marriage certificate

    7. Voters ID card

    8. Aadhar Card

  7. Signature Proof - (any one of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt

Documents required for opening a current account by a partnership company :

  1. Account Opening Form (AOF)

  2. Beneficial Ownership (BO)

  3. Documentation for Entity Proof

    1. Partnership Deed

    2. Partnership Declaration

    3. Partnership Entity

  4. PAN Card

  5. Entity Address Documentation- (any one of the following documents):

    1. Entity proof (above if it contains address)

    2. Water-electricity- telephone bill

    3. Property tax certificate

    4. One-month existing account statement

    5. Property ownership deed

    6. Leave-licence agreement

  6. Individual documentation: (Identity Proof - anyone of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt.

    5. Passbook scheduled commercial bank

    6. Marriage certificate

    7. Voters ID card

    8. Aadhar Card

  7. Address Proof - (any one of the following documents)

    1. Driving Licence

    2. Passport

    3. ID cards issued central & state govt.

    4. Passbook scheduled commercial bank

    5. Utility Bill

    6. Marriage certificate

    7. Municipal corporation bill

    8. Credit Card Bill

    9. Registered Leave and Licence Agreement

    10. Bank statement

    11. Tax certificates

    12. Aadhar Card

  8. Signature Proof - (any one of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt.

Documents required for opening a current account by a sole-proprietor:

  1. Account Opening Form (AOF)

  2. Documentation for Entity Proof- Any two of the following:

    1. Certificate of Registration

    2. License-related to Central-State govt.

    3. Certificate related to Municipal authorities

    4. Tax returns-certificate (Sales/ VAT/ Wealth)

    5. SEBI Registration

    6. IEC certificate

    7. CA certificate

    8. Registered lease/licence

    9. Utility Bills

    10. TDS certificate

  3. PAN Card

  4. Entity Address Documentation- (any one of the following documents)

    1. Entity proof (above if it contains address)

    2. Water-electricity- telephone bill

    3. Property tax certificate

    4. One-month existing account statement

    5. Property ownership deed

    6. Leave-licence agreement

  5. Individual documentation (Identity Proof - anyone of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt.

    5. Passbook scheduled commercial bank

    6. Marriage certificate

    7. Voters ID card

    8. Aadhar Card

  6. Address Proof (any one of the following documents)

    1. Driving Licence

    2. Passport

    3. ID cards issued central & state govt.

    4. Passbook scheduled commercial bank

    5. Utility Bill

    6. Marriage certificate

    7. Municipal corporation bill

    8. Credit Card Bill

    9. Registered Leave and Licence Agreement

    10. Bank statement

    11. Tax certificates

    12. Aadhar Card

  7. Signature Proof (any one of the following documents)

    1. PAN Card

    2. Driving Licence

    3. Passport

    4. ID cards issued central & state govt.

We hope we have helped you in figuring what current account opening documents are needed by you. However, if you require more assistance in this matter, visit a YES BANK branch near you, which you can find here: https://bit.ly/1tgyhhH

You can also visit our website for more information: www.yesbank.in

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