Yes, businesses will have to maintain a minimum balance depending on their business type. Zero balance current accounts are only provided to companies that are:

  1. Private Limited

  2. Public Limited

  3. OPC

  4. LLP

  5. Partnership firms

There will be no minimum account balance charges in the first 2 months of opening the account. If the business makes a minimum of 3 transactions through the Open account every month for the first 2 months (each of value greater than or equal to Rs. 1000/-) then the period of NMAB charges will be extended to another 4 months.

Did this answer your question?