HDFC Bank Launches SmartUp – A Banking Solution Specifically For Startups

17 Mar 2016    07:34 pm


In an effort to contribute towards the ‘Start-up India’ campaign and for nurturing the start-up ecosystem in the country, HDFC Bank, the best private bank in Asia, has launched a first-of-its-kind dedicated banking solution for start-ups, ‘SmartUp’.

HDFC Bank has launched SmartUp in association with ‘Zone Startups India’, a start-up accelerator based in Mumbai. SmartUp is custom designed to meet all the requirements of a start-up including banking services, payment solutions, and advisory and forex services.

“We are happy to be a part of the launch of SmartUp, a bespoke banking solution for startups launched by HDFC Bank. To drive the entrepreneurial spirit and growth, start-ups, particularly at the initial stages, need a tailored banking solution and SmartUp meets their requirements,” says Ajay Ramasubramaniam, Director at Zone Startups India.

Some of the main benefits of SmartUp are:

  • Salary accounts for all employees without any criteria of a minimum number of employee accounts.
  • Waiver of Average Monthly Balance (AMB) for the first 6 months which can be further extended to 12 months.
  • Digital Payment solutions like payment gateway, and Point-of-sale (PoS) solutions.
  • The Bank would also recommend a Chartered Accountant for Tax, regulatory, and compliance issues.
  • Opportunity to showcase the products of startups to over 32 million HDFC Bank customers on SmartBuy.