What is the Difference Between Individual and Non-Individual Current Account?
July 21, 2025

Current Accounts offer an essential gateway to simplify your daily financial transactions. You can choose a Current Account based on how you wish to manage your finances. The two main categories of Current Accounts are individual current accounts and non-individual current account.
In this blog, we have decoded both so that you can make an informed account opening decision.
What is an Individual Current Account?
Contrary to popular belief, where current accounts are seen as business accounts, an individual current account is designed for personal use. You can use an individual current account to manage personal transactions, salary deposits, etc.
Features of an Individual Current Account
- Higher Transaction Limit: Enjoy higher limit on deposits and withdrawals.
- Unlimited and Free ATM Transactions: Carry out transactions an ATMs without any restrictions.
- Debit Card: Get a debit card that comes with multiple offers.
- Digital Banking: Comprehensive digital tools, including mobile and internet banking.
- No Interest: Typically, no interest is earned on the balance maintained.
Who Should Open an Individual Current Account?
- Self-employed professionals like doctors, lawyers, and consultants.
- Freelancers managing payments from various clients.
- Small business owners operating as sole proprietors.
What is a Non-Individual Current Account?
A non-individual current account is specifically designed for entities such as businesses, partnerships, trusts, and associations. These accounts accommodate higher transaction volumes and come with features tailored to organizational needs.
Features of Non-Individual Current Accounts:
- Customisable Solutions: Tailored for business requirements, including multi-user access.
- Bulk Transaction Support: Enables large-scale transactions efficiently.
- Cash Management Services: Advanced tools for liquidity and treasury management.
- Trade Services: Facilitates import-export businesses with trade finance support.
- Higher Transaction Limits: Allows for substantial daily transaction volumes.
Who Should Open a Non-Individual Current Account?
- Registered companies and corporations.
- Partnerships and joint ventures.
- Non-profit organizations and trusts.
- Clubs, societies, and associations.
Key Differences Between Individual and Non-Individual Current Accounts
Feature | Individual Current Account | Non-Individual Current Account |
Transaction Volume | Single individual | Businesses, trusts, associations |
Customization | Moderate | High |
Multi-user Access | Not available | Available |
Cash Management | Basic | Advanced |
Transaction Charges | Lower | Higher |
Documentation | Minimal | Additional business entity documents required |
How to Choose the Right Current Account?
Selecting between an individual and non-individual current account depends on your specific needs:
- If you are a sole proprietor or freelancer managing personal financial transactions, an individual current account is sufficient.
- If you represent an organisation with higher transaction volumes and multiple stakeholders, a non-individual current account is a better fit.
Factors to Consider:
- Transaction Volume: Higher volumes demand advanced features, as seen in non-individual accounts.
- Customisation Needs: Businesses may need multi-user access and bulk transaction capabilities.
- Fees and Charges: Evaluate account maintenance fees and transaction costs.
- Banking Services: Consider the bank’s digital tools and customer service.
Final Thoughts
Current accounts play a pivotal role in simplifying financial operations for individuals and businesses alike. While individual current accounts cater to personal and professional needs, non-individual accounts provide the scalability and tools required by organizations. By understanding your transaction needs and evaluating the features, you can select the most suitable account for efficient financial management.
Simplify your business transactions with Current Account. Open a Current Account with Ujjivan Small Finance Bank and enjoy multiple benefits.
Disclaimer:
The contents herein are only for informational purposes and generic in nature. The content does not amount to an offer, invitation or solicitation of any kind to buy or sell, and are not intended to create any legal rights or obligations. This information is subject to updation, completion, amendment and verification without notice. The contents herein are also subject to other product-specific terms and conditions, as well as any applicable third-party terms and conditions, for which Ujjivan Small Finance Bank assumes no responsibility or liability.
Nothing contained herein is intended to constitute financial, investment, legal, tax, or any other professional advice or opinion. Please obtain professional advice before making investment or any other decisions. Any investment decisions that may be made by the you shall be at your own sole discretion, independent analysis and evaluation of the risks involved. The use of any information set out in this document is entirely at the user’s own risk. Ujjivan Small Finance Bank Limited makes no representation or warranty, express or implied, as to the accuracy and completeness for any information herein. The Bank disclaims any and all liability for any loss or damage (direct, indirect, consequential, or otherwise) incurred by you due to use of or due to investment, product application decisions made by you on the basis of the contents herein. While the information is prepared in good faith from sources deemed reliable (including public sources), the Bank disclaims any liability with respect to accuracy of information or any error or omission or any loss or damage incurred by anyone in reliance on the contents herein, in any manner whatsoever.
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FAQs
1. What is the main difference between individual and non-individual current accounts?
Individual accounts are for personal use by a single person, while non-individual accounts cater to businesses and entities with higher transaction needs.
2. Do current accounts offer interest on balances?
No, most current accounts do not provide interest as they are designed for transaction management rather than savings.
3. What documents are needed to open an individual current account?
Typically, ID proof, address proof, and recent photographs are required.
4. Can non-individual current accounts be operated by multiple users?
Yes, non-individual accounts support multi-user access with proper authorization.
5. What happens if I fail to maintain the minimum balance?
Banks may levy penalties or convert the account to a basic variant with limited features.
6. Can an individual current account be upgraded to a non-individual account?
No, as the account holder type and documentation differ, you need to open a new account for organisational needs.
7. Do current accounts come with debit cards?
Yes, with Ujjivan Current Account, you’ll get a RuPay Debit Cards to facilitate cash withdrawals and online payments.
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