Acsent Current Account Eligibility Requirement

Ascent Current Account offers multiplier benefits for total transactions. Free upto 150 transactions for every slab of ₹ 1 lakh of current month AMB balance maintained. (Upper Cap of 3000 transactions per month)

(Note: Total Transactions include count of Cash Deposit, Cash Withdrawal, Cheque Clearing and Fund Transfer Transactions)

Ascent Current account offers free NEFT/RTGS payments via both Net-banking/ Mobile-Banking as well as Physical request at Branches

IMPS charges on outgoing transactions (through NetBanking & MobileBanking) are as follows:

• Upto ₹ 1000 : ₹ 3.5/- per transaction,

• Above ₹ 1000 and upto ₹ 1 lakh: ₹ 5/- per transaction

• Above ₹ 1 lakh and upto ₹ 2 lakhs: ₹ 15/- per transaction 
  (charges exclusive of GST)

Ascent Current Account offers multiplier benefits for cash deposit transactions. The free limit offered is 10 times of current month AMB (across any HDFC bank branch across India) capped at a maximum of ₹ 50 crores per month.

An Ascent Current Account customer is required to maintain an AQB of  ₹ 50,000 if the branch is in a Metro / Urban Location and ₹ 25,000 if it’s a Semi-Urban / Rural Locations

Category A (government issued documents)
License / registration certificate issued, in the name of the entity, by / under:

• Municipal authorities such as Shop & Establishment certificate / Trade License,

• Registering authority in the name of practicing firm like Certificate of Practice issued by Institute of Chartered Accountants of India, Institute of Cost Accountants of India and Institute of Company Secretaries of India,

• Indian Medical Council,

• Food and Drug Control Authorities 
   

Category B (other documents)

• Latest Professional Tax / GST Returns filed in name of firm, duly acknowledged. Profession Tax/GST Returns cannot not be accepted along with registration certificate under respective acts e.g. Professional Tax/GST Return cannot be accepted with Professional Tax /GST Registration Certificate),

• TAN Allotment Letter, in name of firm / proprietor (subject to firm’s name appearing in address) or TAN registration details (available online),

• Bank account statement, in the name of firm, for last six months with satisfactory operations subject to obtaining IP cheque from the same account provided this account is maintained with a Nationalized / private / foreign bank or Regional Rural / Cooperative Banks (for customers in rural / village areas). This document cannot be accompanied with ITR as Category A document.

• Certificate issued by a Chartered/ Cost Accountant (as per Annexure–G) confirming the firm's existence, containing name and address along with the proprietor's name. The name of Chartered / Cost Accountant to be validated from chartered / cost accountants’ directory. In case Certificate has been issued by Chartered Accountant, certificate to contain UDIN number which needs to be verified by the Branch in ICAI website and attach printout of verification carried out.

*Note* This is only an indicative list. Please visit your nearest branch for details 
 

For opening a Current Account of Limited Liability Partnership 

 Following documents are required for opening a Current Account of Limited Liability Partnership:

• Incorporation Document, Limited Liability Partnership Agreement

• Certificate of Incorporation

• List of all existing Designated Partners of LLP along with Designated Partner Identification Number (DPIN) issued by the Central Government

• Resolution passed at the meeting of Designated Partners for the relationship, which the LLP plans to have with the bank

• KYC of Designated Partners/Authorised Signatories 
    

For opening a Current Account of a company

Following documents are required for opening Current Account of a company:

Private Limited Companies

• Memorandum of Association (MOA)

• Articles of Association (AOA)

• Certificate of Incorporation

• Latest list of directors duly signed by any Director/Company Secretary /Authorised Signatory

• Board Resolution (BR) duly signed by the directors of the company

• INC-21 and INC-20A will be required as applicable

Limited Companies

• Memorandum of Association (MOA)

• Articles of Association (AOA)

• Certificate of Incorporation

• Certificate of Commencement of Business

• Latest list of directors duly signed by any Director/Company Secretary/Authorised Signatory

• Board Resolution (BR) duly signed by the Directors/Company Secretary of the Company

• INC-21 and INC-20A will be required as applicable 

An Ascent Current Account customer may avail Zero NMC benefit in quarter subsequent to account opening quarter, if he/she is active on all 3 digital services (i.e. Net-Banking/ Mobile-Banking, Debit Card (ATM/ POS transaction) and Bill Pay) within first 2 months of account opening.

Additionally, the customer will enjoy Zero NMC if the credit throughput value through ME/MPOS/MEAPP in a quarter is ₹ 5 lakhs or more.

In case of Ascent Current Account, cash withdrawal is completely free for the home branch. For non-home branches, Ascent current account offers multiplier benefits - Free limit of upto 10 times current month AMB; capped at a maximum of ₹ 50 crores per month.

Ascent Current Account offers multiplier benefits for issuance of DD/PO's

• DD/POs (Bank Location) – 50 DD/PO free for every slab of ₹ 1 lakh of current month AMB balance maintained (Upper Cap of 1000 DD/PO per month)

• DD/POs (Correspondent Bank Location) – No free limits

No specific age criteria need to be fulfilled to open an Ascent Current Account.

Following are the key features of Ascent Current Account:

• Combined Cash Deposit (Anywhere in India) – 10 times of current month AMB* (Upper cap of ₹ 50 crores per month)

• Cash Withdrawal is FREE at Home Branch

• Cash Withdrawal (Non-Home Branch)- 10 times of current month AMB (Upper cap of ₹ 50 crores per month)

• DD/ PO (Bank Location) – 50 DD/PO free for every slab of ₹ 1 lakh of current month AMB balance maintained (Upper Cap of 1000 DD/PO per month)

• Cheque Leaves – Free 100 cheque leaves for every slab of ₹ 1 lakh of current month AMB balance maintained (Upper Cap of 2000 cheque leaves per month)

• Total Transaction (includes count of Cash Deposit, Cash Withdrawal, Cheque Clearing and Fund Transfer Transactions) – 150 transactions for every slab of ₹ 1 lakh of current month AMB balance maintained. (Upper Cap of 3000 transactions per month)

* AMB - Average Monthly Balance

Individuals and entities falling into specific categories are eligible to manage an Ascent Current account. These categories include Resident Individuals, Hindu Undivided Families, Sole Proprietorship Firms, Partnership Firms, as well as Private and Public Limited Companies.

Yes. Documentation will be that of an individual, i.e. identity proof and address proof.

List of acceptable documents for proof of Identity

• Passport [not expired]

• MAPIN card [issued by NSDL]

• PAN (Permanent Account Number) card

• Election /Voter’s card - subject to being accompanied by a Self-signed cheque drawn on

• Nationalized/Private Sector/ Foreign Banks.

• Photo ID card issued by any of the following organizations/Institutions

• Central Government or any of its Ministries.

• Statutory / Regulatory authorities

• State Govt. or any of its Ministries

• Public Sector Undertaking (established under GOI or State Govt.)

• State Govt. of J&K1

• Bar council

• Senior Citizen card issued by State/Central Govt.

• Govt. of India to Persons of Indian Origin [PIO card]

• Defence Dept. / Ministry of defence for Defence personnel & their dependents

• Public Financial institutions / Public sector banks

• Permanent Driving license [not expired] - subject to being accompanied by a Self-signed cheque drawn on

• Nationalized/ Private Sector / Foreign Banks

List of acceptable documents for proof of Address

• Passport {Not Expired}.

• Permanent Driving license {Not Expired}

• Election /Voter’s card issued by Election Commission of India

• Proof of possession of Aadhaar / printout of e-Aadhaar (not older than 30 days) / eKYC (Biometric / OTP based)

• Job card issued by NREGA duly signed by an officer of the State Government

• Letter issued by the National Population Register containing details of name & address  

Note: For all non-individual entities, regulatory/industry specific document for running regulatory business and CKYC annexures are also required.

Bank anytime, anywhere in person at a branch or ATM, from your laptop or mobile. Click here for more details.

Ascent Current Account is best suited for Traders, Manufacturers, Distributors, EXIM (export/import) customers who are involved in small - medium businesses with turnover ranging from ₹ 50 lakhs upto ₹ 5 crores

NMC: ₹ 3,000  per quarter (across all Locations) for Ascent Current Account customers.

Ascent current account offers multiplier benefits for Cheque leaves. Free upto 100 cheque leaves for every slab of ₹ 1 lakh of current month AMB balance maintained (Upper Cap of 2000 cheque leaves per month)