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Best bank for startup current account?

Software Developer

Best bank for startup current account?- Grapevine

I want to open a current account for a newly incorporated startup in Bangalore.Please suggest a Bank that provides good services and offers for a startup.

Best bank to open a current account for a startup in Bangalore.

Founder

Welcome to News Discussion's Private Community

It’s getting bad for Tech in general

Software Engineer

What is a good bank for current account for startups in India?

Bank for startup

Product Manager

Welcome to IT Company Discussion's Private Community

So, I just tried to access my SBI account and whaddya know? It's BLOCKED! Apparently, my KYC needs updating, which is fine, except SBI DIDN'T TELL ME! No email, no SMS, no little pop-up warning - nothing.  Just a big, fat "Account Blocked" message.  Thanks, SBI.

This whole KYC thing is important, I get it. But come on, a little heads-up would have been nice!  Anyway, now I gotta scramble to get my account reactivated.  Ugh.

Speaking of banks, this whole ordeal has me thinking about switching.  Being a salaried person, I need a good savings account with decent features and benefits.  So, if any of you have recommendations for banks with awesome savings accounts for working folks, hit me up in the comments!

Let's all share some good bank knowledge and avoid this frustrating situation.

Which Saving Bank account is the best

Data engineer

Welcome to Personal Finance's Private Community

Purely investment purpose like FD, Savings, etc
Minimum balance should be zero. 
Oh also good customer service via online/phone

Where should I open my bank account?

Analyst

Hi, I'm a fresher. I want to know, are there any benefits of having a salaried account in a particular bank?
If so, which ones do you suggest would be the best one.
My office has a tie-up with HDFC bank.

Which bank for salaried account?

Thread to discuss bank accounts , type of the account and what do you use it for ?

Bank account Mega Thread: Which bank accounts do you have and what do you use it for?

A big challenge for arguably most early stage startups is going from 2-3 lakhs per month to 5-10 lakhs per month and more in revenue. Market is willing to provide credit or loans for the latter but not the former.

It's the former that need it more but there are no collateral free loan options in the market that are reasonable. Even though India collects hefty tax and revenue from global businesses with digital platforms and products, it's unwilling to provide collateral-free loans to startups born in India.

The best you can get is from NBFCs or private lenders at more than 12-15% interest (which is often more than the net profit for a lot of startups, hence impractical). Most govt loans and schemes aren't applicable to a large portion of startups because of their criteria.

Even setting up the company can often take months. GST and taxes are a nightmare. Where is this "ease of business" that people talk about?

Unless entrepreneurs bankroll everything from their own pockets, there is almost no way for bootstrapped startups to build and grow sustainably in India.

I've never met a single entrepreneur who availed a govt scheme to get loans for their business in India. I wonder where all that budget money went.

Startup India is a sham

Generalist

Hey !!
I am a student , 1st year bca, currently looking for internship or want to work with a newly founded startup ? Are there any suggestions ? 
Are there any tips you would like to give ?

Want to work with a newly founded startup..??

Which bank should I choose as my salary account ? Give your  insights.

Fresher here ! Which salary account to start ?

Which bank is offering best service in corporate salary account ? 

I have HDFC currently but looking to switch to IDFC as IDFC have better transaction limit then HDFC for ATM and also online !

Comments the best Bank with some special features too !

Salary Account ¿

Account Executive

Hi everyone,

I am looking for job opportunities and have received a callback from a startup that has around 20 people in the company. 2-3 are US based, others are developers based in India. 

I have 1 yoe and I wanted to get opinions about pros and cons of working in such a company.

I know learning will be good but I don't want to be burdened with work all the time. Working at such an early stage startups scares me mostly for this reason.

All opinions are welcome!!

Working at early stage startups

I have a full time job as a data scientist and I am thinking of picking up few freelance projects parallely. 

Apart from conflict of interest, I wanted to understand what are the risk, especially when I will joining a new company.

Freelance work apart alongwith full tume job

Data Scientist

Hello! As someone who works with startups (not in)and has a well paying job, I am often intrigued and keen to invest money (say a few lacs, and provide some mentorship) as a micro angel investor in early age pre series/ seed rounds,  to try my hand. Not talking about becoming a LP or joining a VC/PE. (I know the pros and cos, the glamour and the ugly pieces) . While there are some fintech startups where you can invest as low as 5000/- in a startup, I believe these aren’t for me. Any guidance on how I begin and any learnings?

P.s have posted under finance section too. But thought might get some guidance  here too!

Becoming a micro angel investor for investments?

Account Manager

I want to open a separate account in a bank for online transactions. 
Any suggetions on services of these banks Like axis/indian oversees bank/kotak?

Creating a new account just for online transactions

Folks, we're a profitable B2B Saas startup. We've huge organic footfall on our product (100,000+ MSME visitors a month). We're looking to tie up with banks for SME loan lead generation. Any help? Also, How do we charge the banks

SME loan lead generation

UX/UI Designer

Hello! As someone who works with startups (not in)and has a well paying job, I am often intrigued and keen to invest money (say a few lacs, and provide some mentorship) as a micro angel investor in early age pre series/ seed rounds,  to try my hand. Not talking about becoming a LP or joining a VC/PE. (I know the pros and cos, the glamour and the ugly pieces) . While there are some fintech startups where you can invest as low as 5000/- in a startup, I believe these aren’t for me. Any guidance on how I begin. (Apart from- go out there and network with startup founders and events) ?

Becoming a micro angel investors.

I want to open another bank account where I wish to build a significant cash position (with about 5 months of my salary). I will use that money incase of emergencies or if I need a lot of cash, so that I don't have to exit any stock positions or mutual funds if I suddenly need money. The corpus will be created over time ofc. 
I wanted to know which is a good bank to go ahead with? 
I don't have a problem with a non zero balance account, all these banks offer a shit ton of options and benefits and I am confused. 
So, good people of grapevine share your wisdom. What would be a good choice with decent benefits.

Secondary Savings account

Backend Engineer

Hi,

I’m looking for an saving bank account to open online without need to go bank offline.

This is just to park some money for sometime, as if it’s main account I just keep spending it.

Main purpose is only to park some time and then once I get some lumpsum saved, around ~4/5L, will use it for any  investment or need spend at that time.

My main account currently which I use is Kotak and ICICI and I had used HDFC some years before but not using now. So I’m looking for some other bank account or the new age neo banks etc kind off with better return / rewards or offers but the core not to visit any bank offline for any purpose. 

Thanks

Best bank for startup current account?

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