Business current accounts for startups in India
What a startup current account costs: the balance you must keep, what happens if you do not, and what transfers and cash deposits cost. RazorpayX is a dashboard on top of a partner bank’s account; the other four are bank accounts.
| Account | Balance to keep | Charges | Transfers | Free cash deposits | Suits | Source | Apply |
|---|---|---|---|---|---|---|---|
| RazorpayXCurrent account at a partner bank, with the RazorpayX dashboard on top | Set by the partner bank (Axis, IDFC FIRST, RBL, slice Small Finance Bank or YES). RazorpayX: “Minimum balance requirements vary across banks.” | Platform plan from ₹1,499 a month, billed quarterly (₹4,497 + GST). Without a plan the bank account still works, but not the RazorpayX dashboard. | Per-payout charges are shown only in the RazorpayX dashboard, not on the pricing page. | Not on RazorpayX’s pages (the partner bank’s rules apply). | A startup sending many vendor or salary payouts that wants bulk payouts and an API, and can pay a monthly platform fee. | RazorpayX pricing · current accounts read | Open on RazorpayX’s site → We may earn a commission if you sign up through this link. It doesn’t change what we write. How this works |
| HDFC BankStartup Current Account | ₹50,000 average a quarter, waived for the first 4 quarters. | ₹3,000 a quarter if the balance is not kept (waived with ₹5 lakh or more of digital collections). No monthly fee. | Not on the account’s fee page (it points to a schedule-of-charges PDF we could not open). | Not on the account’s fee page. | A startup that wants a large branch network and will hold ₹50,000 on average once the first year is over. | HDFC fees and charges · product page read | No link from us. Apply on the bank’s own site. |
| ICICI BankCurrent account, startup variant (schedule for accounts opened from August 2025) | ₹50,000 average a quarter (₹25,000 at semi-urban and rural branches). | ₹2,000 a quarter if not kept; the first calendar quarter is waived. | NEFT and RTGS online: nil. IMPS: 50 free a month, then ₹2.50 to ₹15 by amount. | Free up to 3 times the monthly average balance or ₹50 lakh a month, whichever is lower. | A business that can keep ₹50,000 on average and does most transfers online. | ICICI startup page · schedule of charges (PDF) read | No link from us. Apply on the bank’s own site. |
| Kotak Mahindra BankStartup Regular Current Account (charges from 1 May 2026) | ₹50,000 average a quarter. | ₹2,500 a quarter below half the balance, ₹1,500 between half and full; waived for the first 12 months. | NEFT and RTGS: nil, online or at a branch. IMPS: ₹5 up to ₹1 lakh, ₹15 above. | Free up to 10 times last month’s average balance, at most ₹1 crore a month. | An early-stage startup that wants free NEFT and RTGS and a high cash allowance, and will hold ₹50,000 after year one. | Kotak fees and charges · product page read | No link from us. Apply on the bank’s own site. |
| Axis BankCurrent Account for New Economy Group (charges from 1 Feb 2026) | Nil. | No charge for a low balance, but ₹100 a month while the monthly average is under ₹50,000. | NEFT and RTGS: unlimited free. IMPS: not on the schedule we read. | Free up to 10 times the monthly average balance, at most ₹50 lakh a month. | A new startup that will not hold much in the bank and does not want a minimum-balance penalty. | Axis schedule of charges (PDF) · product page read | No link from us. Apply on the bank’s own site. |
How to read this
Banks set the balance as an average over a quarter, not a floor on any one day. Most of them waive the penalty for the first months, so the real cost starts in year two. Ask the bank for the current schedule of charges before you sign; we link the one we read.
RazorpayX is not a bank. The money sits in a current account at one of its partner banks, and that bank’s balance rules apply. RazorpayX adds bulk payouts, vendor payments and an API, for a monthly plan. An older, undated RazorpayX pricing PDF describes a cheaper plan with free payouts; the live pricing page does not, so we show the live page.
What we did not check
Account opening fees: none of the five pages we read states one. HDFC’s transfer and cash charges are in a PDF that did not open for us. IDFC FIRST Bank’s startup account page could not be read on the day, so it is not in the table; it says it charges nothing for IMPS, NEFT and RTGS.
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