How to open a business account in India

Snapshot

To open a business account in India you need a registered business with the right registrations, the company PAN, the company documents, and identity proof for the signatories. Domestic banks such as ICICI Bank and HDFC Bank open current accounts, and fintech platforms such as RazorpayX and Open arrange a current account with a partner bank, sometimes with faster onboarding.

What you need: Registered business, company PAN, company documents, signatory identity
Account type: Current account from a bank or via a fintech partner bank
Resident director: At least one director of an Indian company must be resident in India
Typical timeline: About two to five working days for a clean application

Fees and features as of 24 April 2026Last reviewed 24 April 2026

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

As of 24 April 2026, opening a business account in India means opening a current account. You need a registered business, the company PAN, the company documents such as the certificate of incorporation and the memorandum and articles of association, a board resolution, and identity proof for the signatories. Domestic banks open the account directly, and fintech platforms such as RazorpayX and Open arrange a current account with a partner bank. Confirm the current process with the provider.

Steps to open a business account in India

The process follows a few steps, though the detail varies by bank and by the type of entity. As of 24 April 2026, a business account in India means a current account, opened with a domestic bank such as ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, or State Bank of India, or through a fintech platform such as RazorpayX or Open that arranges a current account with a partner bank. Confirm the current process with the provider.

Register the business, whether a sole proprietorship, partnership, limited liability partnership, or private limited company, and obtain the registrations that apply to it.
Get the company PAN, since a current account for a company cannot be opened without it, and arrange GST registration where the business falls under the GST rules.
Gather the company documents, including the certificate of incorporation, the memorandum and articles of association, and a board resolution that names the authorised signatories.
Prepare identity and address proof for each signatory, such as PAN, Aadhaar, or passport, and recent proof of business address.
Apply with the bank or platform, complete the know your customer checks in person, by video, or online, and receive the account number and IFSC code once approved.

What banks check

Banks verify that the business is genuine, properly registered, and clearly owned. They review the registration documents and the PAN, confirm the identity of the signatories, and assess the business activity and the expected turnover. Companies with foreign ownership face added checks under the Foreign Exchange Management Act, and at least one director of an Indian company must be resident in India.

Documents to prepare

A typical list includes the company PAN, the certificate of incorporation, the memorandum and articles of association, a board resolution, proof of business address, and identity and address proof for each signatory. Sole proprietors usually provide business proof such as a GST certificate or a shop licence instead of incorporation papers. The exact list varies by bank, so confirm before you apply.

Compare business accounts available in India

These providers serve business customers in India. Fees and eligibility shown as of 24 April 2026. Confirm current terms with the provider before applying.

Compare business accounts →

Questions about how to open in India

How long does it take to open a business account in India?

A clean application is often completed in about two to five working days, and some fintech platforms advertise faster onboarding for a current account issued by a partner bank. Companies with several owners or foreign ownership take longer because of added checks. Timelines vary, so confirm with the bank, as of 24 April 2026.

What documents do I need to open a business account in India?

Banks usually ask for the company PAN, the certificate of incorporation, the memorandum and articles of association, a board resolution naming the signatories, proof of business address, and identity and address proof for each signatory such as PAN and Aadhaar. The exact list depends on the entity type, so confirm with the bank, as of 24 April 2026.

Is GST registration required to open a current account in India?

Not always. GST registration is needed only where your business falls under the GST rules, and many banks accept other valid business proof instead. A GST certificate can still help as evidence of the business. Confirm what your bank accepts, as of 24 April 2026.

Can I open a business account online in India?

You can start the application online with many banks and with fintech platforms such as RazorpayX and Open that arrange a current account with a partner bank. Some banks still require an in person or video step for know your customer checks. Verify the current process with the provider, as of 24 April 2026.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 24 April 2026. Confirm current terms with the provider before applying.