IDFC FIRST Bank

Strengthen and grow your business with an IDFC FIRST Bank Current Account.

Taking the right decisions is crucial for the success of your business. Choosing IDFC FIRST Bank’s Current Account is one of them. Among the best current accounts for businesses in India, it’s the first step towards attaining the business growth you’ve always dreamed of. read more.

With an IDFC FIRST Bank Current Account, you gain access to multiple features and benefits. Take advantage of an integrated Internet and Mobile Banking Platform with attractive features, such as Trade Forex Solutions, GPS-enabled Doorstep Banking, Payment and Receivable Solutions, and much more, all at your behest. We are also transparent about our Current Account fees & charges. No surprises, no shocks!

So, go ahead and open a Current Account online to secure your business growth with IDFC FIRST Bank. read less.

Empower Your Enterprise with the Ultimate Current Account Solution

Anywhere Banking: No add-on charges on transactions at any non-home branch. So, every IDFC FIRST Bank branch is your home branch

Cash Management Solutions: Benefit from a suite of payment and collection solutions to optimize your cash flows

Debit Card: Free Visa Business Debit card with exclusive benefits

All-in-one app: A single app with 100+ features that meet both personal and business financial needs

WhatsApp Banking: Access your accounts anywhere, anytime. Just send a 'hi' to 95555 55555 to get started

Beyond Banking Services: We offer 100+ Beyond Banking offerings to suit your enterprise's needs, including ERP, HRMS, Payroll, Taxation, Legal, Cloud Services, CoWorking Spaces,etc.

Silver Plus Current Account

Elevate your business with our Silver Plus Current Account proposition

High Cash deposit limit of 10 times of current month AMB (max ₹50 Lakhs)
Free Visa Platinum Debit Card with lounge access
Complementary insurance with the debit card
Free NEFT and RTGS transactions
All transactions free on IDFC FIRST Bank ATM
Daily ATM limit of ₹1 Lakh & Purchase limit of ₹2 Lakhs
Free anywhere cheque collection
Leverage our Payment and Collection solutions to optimize your business
Get complimentary General Insurance Cover with your Current Account

_{*As per Forrester Digital Review Functionality: Indian Mobile Banking Applications, Q3 2023}

Open Account

ELIGIBILITY

Who can apply?

Anybody who meets any of the following requirements can apply:

Self Employed Professionals
Hindu Undivided Family (H.U.F.)
Sole proprietorship
Partnership
OPC / Private / Public Limited Company.
Limited Liability Partnership

Documentation

Sole proprietorship

2 documents in the name of Entity
Address proof in the name of entity
Proprietor Document – (Photo, PAN copy and 1 OVD document copy)
Nature of Industry proof (In case not indicative in Entity documents, please check for Invoice Copy, Bill of Entry, Freight Invoice, Agreement Copy)

Partnership

Partnership Deeds
Partnership Firm Declaration
Entity PAN card copy
Address Proof in the name of the Entity
OVD copy of the Partners / Authorised Signatories / Beneficial Owners (Including Latest Photograph and PAN card copy)

FEES & CHARGES

Find out about our minimal and transparent fees & charges

View Fees & Charges

FREQUENTLY ASKED QUESTIONS

What is a Current Account?

When a loan is taken out to purchase a pre-owned car, it is called a repurchase loan.

A Current Account is an account that is used by business enterprises or self-employed professionals to carry out business-related transactions. It allows businesses to carry out a higher number of transactions daily.

Who can apply for a Current Account?

Anyone who meets any of the following requirements can apply:

- Self Employed Professionals

- Hindu Undivided Family (H.U.F.)

- Sole Proprietorship

- Partnership

- OPC / Private & Public Limited Company

- Limited Liability Partnership

How do I open a Current Account?

You can open an IDFC FIRST Bank Current Account by visiting your nearest bank branch or click here to apply online.

What are the documents required for opening a Current Account?

The documents required to open a Current Account are based on your constitution type. Click here to view the list of documents.

How much time does it take to process a pre-owned car loan?

It takes 1 day to sanction the loan and further 2 days to process the payment after all the relevant documents have been provided.

How much loan can I get on repurchase of a pre-owned car?

You can get loan up to 100% of the valuation of your desired pre-owned car basis your credit score and Bank's internal assessment criteria.

How much loan can I get against a pre-owned car?

You can get loan of up to 200% of the valuation of your pre-owned car basis your credit score and Bank's internal assessment criteria.

What are special offers by IDFC FIRST Bank pre-owned car loan/loan against car?

Re-purchase:
- • Rate of Interest: Starting as low as 11.99%* per annum
- • Tenure: up to 7 years
- • Loan Amount: From ₹1 Lakh up to ₹2 Cr
- • Funding: Up to 100% of the valuation of the car

Re-finance/Loan against Car:
- • Rate of Interest: Starting as low as 13.99%* per annum
- • Tenure: Up to 5 years
- • Loan Amount: From ₹1 Lakh up to ₹50 lakhs
- • Funding: Up to 200% of the valuation of the car

More FAQs

Car Loan Blogs

FEATURED

How does car loan tenure affect EMI calculation?

As a borrower, your repayment capacity and loan category determine your ideal term for a car loan. You pay less EMIs over the course of your loan when you have a longer loan tenure, but you pay more in interest over the course of the loan. Therefore, you need to choose a loan tenure that fits your budget while allowing you to pay off the loan within a reasonable timeframe.

Team FinFIRST24 Jul 2023 • 3 mins read

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Empower Your Enterprise with the Ultimate Current Account Solution