ICICI Bank has launched a program for startups that takes care of their banking as well as beyond-banking needs like regulatory assistance, analytics, staffing, accounting, customer acquisition, and digital outreach to customers, among others. Called ‘iStartup2.0’, the program offers customers an eponymous current account available in 3 variants – Platinum, Gold, and Silver for startups. New businesses (up to 10 years old) including partnerships, private and public limited companies as well as limited liability partnerships can opt for the current account. In addition, startups can seamlessly open an account and get the account number instantly at the time of incorporation as the bank has integrated its APIs with the website of the Ministry of Corporate Affairs. Entrepreneurs do not have to fill details again to apply for an account. Other benefits of this current account include the availability of a dedicated relationship manager, premium savings account for promoters and salary accounts for employees and waiver of quarterly average balance for a year. Additionally, startups can customize and choose the facilities required in their account and use the single account for both domestic and international trade transactions with preferential pricing, both industry-first services.
In addition, there is ‘Startup Assist’ that offers services, in association with partners, to help startups in their early stage as well as growth stage and a ‘Digital Concierge’, a one-stop solution for services ranging from website development & hosting, social media marketing, SEO & SEM among others. Pankaj Gadgil, Head- Self Employed Segment at the bank said ‘startup 2.0’ is the most comprehensive program available in the country, offering unprecedented convenience of getting onboarded with the bank instantly in a digital manner during incorporation with MCA.
