SmartUp – All in One Banking Solution for Startups by HDFC Bank

SmartUp - Banking Solution

HDFC Bank has launched SmartUp that is all in one banking solution dedicated for startups. SmartUp is personalized to meet up all the essential and general needs of a startup to fulfill all their banking requirements. SmartUp is started in association with ZSI (Zone Startups India) that is a Mumbai based startup accelerator. ZSI is a joint business enterprise of the Ryerson University Canada and Bombay Stock Exchange organization. It has been ready for more than two years and helped more than 70 startups. There are some essential benefits that highlights in SmartUp banking solution.

Benefits of SmartUp

  • SmartUp is a complete and perfect banking solution. This is not only provides fundamental or basic banking related transaction but also provides important and helpful services such as payment solutions, forex and advisory services.
  • SmartUp current account helps startups to get a waiver of Average Monthly Balance (AMB) for the first six months and expandable for a year. There are number of benefit of SmartUp current account.
  • The salary accounts for all employees by waiving the minimum number of employee criteria.
  • The bank recommends dedicated relationship manager, regulatory, suggestion of a chartered accountant for tax and compliance problems.
  • It provides PayZapp for business that is basically a payment and collection solution. It is the best Digital Payment Solutions.
  • With the help of SmartUp, you also can get the chance to showcase products on SmartBuy of startups to 32 million HDFC Bank customers.
  • The platform will also be available all over the India and includes tier-2 & tier-3 cities that are fast appearing as startup hubs.

According to Smita Bhagat, branch banking head – north and co-head, ecommerce, HDFC Bank, “We believe startups 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.”

However, these services are only for startups that are well recognized with their process and have an excellent rank of traction. If your startup is on early stage of growth and development then you should look and search for something else. Hence, the recently launched service is designed to provide a complete qualified banking solution to the startup segment.