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HDFC Launches Banking Solution ‘SmartUp’ For Startups

HDFC bank on Wednesday announced the launch of SmartUp- a first-of-its-kind banking solution to fulfill all banking needs of start-ups.

SmartUp was launched in association with Zone Startups India, a start-up accelerator in Mumbai. SmartUp is tailored to meet all the requirements of a start-up, offering banking and payment solutions, along with advisory and forex services.

“We believe start-ups in India need partners, who will be with them right from the start of their entrepreneurial journey, creating solutions that evolve as the company grows. This offering has been created after working with them to understand their requirements and will be available across India, even in tier 2 and 3 cities which emerging as startup hubs,” says Ms. Smita Bhagat, Branch Banking Head- North and Co-Head, eCommerce, HDFC Bank.

Some of the benefits of SmartUp current account for startups would include:

  • Waiver of AMB for the first six months and extendable to 12 months.
  • Salary Account for employees by waiving the minimum number of employees criteria.
  • PayZapp for Business – a payment and collection solution.
  • Dedicated Relationship Manager, Recommendation of a Chartered Accountant for Tax, Regulatory and Compliance issues.
  • Opportunity to showcase products on SmartBuy to 32 million HDFC Bank customers.

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