What documents are needed to open a current account?

A current account is one of the most versatile forms of financial transactions in the world of personal finance. You can enjoy a range of features and benefits of a current account, whether it is for your personal or business needs. This comprehensive guide will explain what documents you will need to open a current account.

Why should you open a current account?
 

Before diving into the details of the necessary documentation, let's briefly understand what are the benefits of a current account.

A current account serves as a dynamic tool for managing financial transactions. It offers a plethora of features, including overdraft facilities, chequebooks, and online banking access, catering to business needs. By facilitating effortless deposits, withdrawals, and transfers, these benefits of a current account simplify daily financial transactions.

An Metra Trust Current Account can be opened in a matter of minutes with a completely digital application and paperless verification process. You will also receive several benefits of a current account, including a free chequebook, high deposit and withdrawal limits, digital banking, free ATM withdrawals, etc. Explore more here.

And with Metra Trust’s BRAVO feature on your current account, you can earn interest on your savings now. BRAVO is an industry-first auto sweep into fixed deposit (FD) feature on current accounts, offering up to 7.25% on the FD.

Click here to know more about it.

Essential documents for opening a current account
 

To access the benefits of a current account, you first need to open one. Depending on the bank, the documents for opening a current account may include a valid photo ID, proof of address, and proof of income.

Sole proprietorship

• 2 documents in the name of entity 
• Proprietor document (photo, PAN card copy, and 1 officially valid document [OVD] copy)
• Nature of industry proof (in case not indicative in entity documents, please check for invoice copy, bill of entry, freight invoice, or agreement copy)

Hindu Undivided Family (HUF) 

• HUF PAN card
• Karta’s PAN card
• Karta’s OVD document
• HUF declaration

Partnership

• Partnership deed/s
• Partnership registration certificate (for registered partnership firm)
• Partnership firm declaration
• Entity PAN card number
• Registered office address proof in the name of the entity
• Communication address proof, if different from registered address
• OVD copy of the partners/ authorised signatories/ beneficial owners (including latest photograph and PAN card copy)
• List of partners with name, date of birth, and address

Limited Liability Partnership (LLP)

• LLP agreements since inception
• Certificate of incorporation
• LLP firm declaration
• List of all partners (including designated partners) with name, date of birth, and address
• PAN card number of the entity
• Registered office address proof in the name of the entity
• Communication address proof, if different from registered address
• OVD copy of the partners/ designated partners/ authorised signatories/ beneficial owners (including latest photograph and PAN card copy)

Company (Public Limited and Private Limited)

• Memorandum of Association (MOA) and Articles of Association (AOA)
• Certificate of incorporation
• Board resolution
• Latest list of directors and officials holding senior management position
• PAN card number of the company
• Registered office address proof in the name of the entity
• Communication address proof, if different from registered address
• OVD copy of the authorised signatories/ beneficial owners (including latest photograph and PAN card number)
• NPO declaration for section 25 or 8 company (including Darpan registration certificate/ number for NPO)

Official Valid Document (OVD)

• Passport
• Driving license
• Voter identity card
• Proof of possession of Aadhaar card number, in such a case declaration related to Aadhaar redaction to be provided
• Job card issued by NREGA duly signed by an officer of the state government
• Letter issued by National Population Register containing details of name, address

Entity documents

How to open a current account with Metra Trust?

Once you have gathered the requisite documents, you can conveniently open a current account with Metra Trust in the following ways -

• Apply on the website
  
  Embracing the digital age, Metra Trust offers the convenience of opening a current account via its official website. Choose the type of account you want and provide details such as the city you reside in, your full name, email address, and mobile number. Once you have provided these details, an Metra Trust executive will get in touch with you for opening your current account. And in no time, you will be making the most of the benefits of a current account.

• Visit the bank branch
  
  Traditional yet effective, this method involves visiting the nearest Metra Trust branch in person with all the required documents. You will have the opportunity to discuss your requirements with a banking representative, get advice on available account types, know the benefits of a current account, and receive assistance in completing the application.

Opening a current account requires specific documents that establish your identity, address, and financial details. By understanding the requirements and adhering to the guidelines, you can open a current account without hassles and you will start enjoying the benefits of a current account in no time. As you equip yourself with the necessary documents, remember that a well-maintained current account can serve as a gateway to seamless financial transactions and enhanced financial stability.

Whether it's to manage personal funds or conduct business, an Metra Trust Current Account offers the utmost convenience for business and personal transactions along with a secure and reliable banking experience. It also offers a wide range of features and ample benefits of a current account to conduct various financial transactions. And with the new BRAVO feature it also offers its users the liberty to auto-sweep their excess funds into their linked fixed deposit accounts and earn interest. Apply now!

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Metra Trust or its affiliates to any licensing or registration requirements. Metra Trust shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.