Best business accounts for LLC and Corporations in India
Snapshot
India does not use the United States style LLC. The closest registered forms are the private limited company, the LLP and the one person company. These open a current account at domestic banks such as ICICI Bank, HDFC Bank and Axis Bank, or through platforms such as RazorpayX and Open that add payouts, cards and accounting. Wise Business helps companies receive foreign currency.
Suits companies best
Depends on needs. Domestic banks suit lending and cash, while RazorpayX and Open suit digital payouts and software.
Typical cost
No minimum balance with some platforms, or a minimum average balance at domestic banks, as of 24 March 2026.
Non resident position
For India registered companies. Foreign owned companies follow extra checks. Verify with the provider.
Providers that fit
Several. Domestic banks plus platform current accounts in India.
Fees and features as of 24 March 2026Last reviewed 24 March 2026
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
India does not use the United States style LLC, so this page covers the registered company forms that businesses actually use here. The closest are the private limited company, the limited liability partnership known as the LLP, and the one person company, each registered with the Ministry of Corporate Affairs. A registered company opens a current account at a domestic bank such as ICICI Bank, HDFC Bank or Axis Bank for branch services, lending and cash, or through a platform such as RazorpayX or Open for payouts, corporate cards and accounting through a partner bank. Wise Business helps companies receive foreign currency from clients abroad. Fees and features below are shown as of 24 March 2026, so confirm current terms with the provider.
What LLC and Corporations in India need from a business account
Registered companies need a current account in the company name, clear authorisation for directors or partners, corporate cards with spend controls, payroll and vendor payouts, and accounting exports. Larger companies also want lending, cash management and branch support, which point to domestic banks, while younger companies often prefer platform current accounts for payouts and software. Companies that bill clients abroad add a foreign currency receiving tool. Documentation includes the certificate of incorporation, company PAN and a board resolution. As of 24 March 2026.
R
RazorpayX
Current account through a partner bank with payroll, vendor payouts, corporate cards and accounting for registered companies. Limited cash handling.
Best for
Payouts, payroll and cards
Cost
No minimum balance, payouts about INR 2 to INR 5 each
These providers accept registered companies in India. Fees and eligibility shown as of 24 March 2026. Confirm current terms with the provider before applying.
Questions about banking for LLC and Corporations in India
Does India have LLCs?
India does not use the United States style LLC. The closest registered forms are the private limited company, the limited liability partnership known as the LLP, and the one person company. Each opens a current account with banks or fintech platforms after registration with the Ministry of Corporate Affairs. Confirm the right form for you with a qualified professional. This is general information, not advice.
What account suits a private limited company in India?
A registered company can open a current account at a domestic bank such as ICICI Bank, HDFC Bank or Axis Bank, or through a platform such as RazorpayX or Open that adds payouts, cards and accounting. The choice depends on whether you need branch services, lending and cash, or digital payouts and software. Confirm current terms with the provider. As of 24 March 2026.
What documents does a company need to open a current account in India?
Banks usually ask for the certificate of incorporation, PAN of the company, the memorandum and articles of association or LLP agreement, board resolution, GST details where applicable, and KYC for directors or partners. Requirements vary by provider and entity type, so confirm the current list with the provider. As of 24 March 2026.
Is there a minimum balance for a company current account in India?
It varies. Some domestic banks require an average monthly balance, while platforms such as RazorpayX and Open offer current accounts with no minimum balance through a partner bank. Some banks waive the balance for the first months or for startups registered with DPIIT. Confirm the current figure with the provider. As of 24 March 2026.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 24 March 2026. Confirm current terms with the provider before applying.