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Benefits of Zero Account Opening Online for Small Business Owners
Posted on Thursday, May 11th, 2023 | By IndusInd Bank
The key benefits of opening a zero balance account for small business owners are: saves costs, simplifies book-keeping, saves time & facilitates transactions with ease, offers extra benefits, and is easy to open. Get maximum benefits with minimum costs with the Indus Delite zero balance account.
For an overwhelming majority of micro and small businesses, the most obvious choice for conducting banking activities is via a current account. However, a current account requires the account holder to maintain a minimum balance. On the other hand, a zero balance account frees the account-holder of the responsibility of maintaining any balance. You may feel it is counterintuitive to have a business bank account with zero balance. However, that’s actually the whole point of having a Zero Balance Account for your business: you could use that dedicated zero balance account to fund specific expenses, such as payroll, departmental spending, or any other business need. Read on to discover the top benefits of having a zero balance account for small business owners.
1) Cost-Effective Option
A zero balance account does not require small business owners to maintain an average monthly balance. Therefore, you do not have to deposit large sums of money to open or maintain this account. What’s more, there will be no penalty if you maintained nil balance. With free net banking services and ATM withdrawals, it indeed offers a cost-effective solution to small business owners.
2) Easier Tracking & Book-Keeping
As earlier elucidated, you may open a zero balance account for designated business purposes such as for short-term payroll, paying commercial utility bills, travel reimbursement, and office supplies, among others. This can help you monitor spending for various departments and identify patterns of overspending. In addition to easier book-keeping, it could help you avoid unnecessary background checks and taxes, particularly if you receive many cash payments.
3) Saves Time & Simplifies the Process of Transactions
With a zero balance account, you could make transactions anytime, anywhere via mobile or net banking. It will be easy to deposit, send, and withdraw money without additional charges, ensuring the smooth running of your business. You could also automate the process of moving funds around or balances for your accounts, saving yourself time and minimising chances of errors and delays.
4) Additional Benefits
A zero balance account can come with many additional benefits. At IndusInd Bank, the Indus Delite Zero Balance Savings Account, for instance, comes with a bouquet of benefits such as an attractive interest rate, cash-back on debit card spends, round-the-clock customer service, and a facility to automate recurring payments.
5) Easy to Open & Operate
While packed with so many features and benefits that can help small business owners, a zero balance account is also unbelievably simple to open. At IndusInd Bank, zero account opening online is instant using your Aadhar and PAN card – the application process is 100% paperless and hassle-free.
Get Started with Indus Delite Savings Account
As illustrated above, there are several merits of keeping a separate operating account for your transactions and another for minor business expenses. If you are a small business owner, the Indus Delite zero balance account from IndusInd Bank can be a great choice for you. With minimum requirements, this account allows you to enjoy exceptional banking facilities along with lucrative interest rates.
With an instant 100% online application process involving just 4 easy steps including Video KYC, getting started is as easy as pie. Go for Indus Delite zero account opening online today!
Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.
