HDFC Launches ‘SmartUp’ For Startups

In an effort to contribute to the company “Launch of Start-up India in India and the formation of the initial ecosystem in the country, HDFC Bank, Best Private Bank in Asia, has launched the first ever specialized banking solution for start-ups,caled “SmartUp “.

HDFC Logo

HDFC Bank launches SmartUp in association with “Zone Startups India” initial accelerator based in Mumbai. SmartUp is specifically designed to meet all the requirements of initial including banking, payment solutions and consulting and exchange services.

“We are delighted to be part of the launch of SmartUp, custom banking solution for startups launched by HDFC Bank. To drive entrepreneurship and growth, creation of new businesses, especially in the early stages, need adequate banking solution and SmartUp meets their requirements, “says Ajay Ramasubramaniam, director of Zone Emerging India.

Benefits of HDFC’s SmartUp:

  • Salary accounts for all employees without any criteria for the minimum number of accounts of the employees.
  • Removing the Average Monthly Balance (AMB) for the first 6 months, which may be further extended to 12 months.
  • Digital solutions for payment as payment gateway and point of sale (POS) solutions.
  • The Bank will also recommend Chartered Accountant for Tax, regulatory, and compliance issues.
  • Opportunity to promote products emerging to more than 32 million HDFC Bank customers on SmartBuy.
  • It is worth noting that these services are only for start-up companies that are well established in their work and have a good level of grip. If your startup is at a very early stage of development, then you should look for something else.
  • However, if you think you’re ready for the next round, then SmartUp have to cater to your needs very well, even if you are in Tier II and Tier III cities across India.

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