HDFC Bank Launches Biz+ Current Account Suite For Small Businesses

(MENAFN- KNN India) New Delhi, May 16 (KNN) HDFC Bank has introduced a new suite of current account products called Biz+, specifically designed to support small businesses at various stages of growth.

The Biz+ offering includes four variants tailored to different business growth phases: Biz Lite+ for setup, Biz Pro+ for growth, Biz Ultra+ for expansion, and Biz Elite+ for diversification.

Each account comes bundled with services including cash handling, digital banking, and relationship manager support. New customers will also receive complimentary business and payment protection insurance for the first year.

Each variant provides tiered benefits with increasing advantages. Biz Lite+ offers a free cash deposit limit six times the account balance, tax savings through complimentary debit cards, insurance, and shop-device rental waivers.

Biz Pro+ increases the deposit limit to ten times and adds access to zero-collateral overdraft loans and PoS rental waivers.

The premium variants offer more substantial benefits. Biz Ultra+ provides a cash deposit multiple of 12, benefits on a BizPower credit card worth up to Rs 1.3 lakh annually, and access to deals through the Preferred Program.

At the top tier, Biz Elite+ offers a 15X deposit limit, Imperia Program benefits, pan-India collections through cash management, and waiver of foreign bank charges on overseas remittances.

The suite is designed to evolve with business growth, offering sector-specific solutions across HDFC Bank's network of 9,455 branches, targeting over 45 lakh small businesses. The bundled model integrates liabilities, asset products, business cards, and digital payments under a single offering.

Parag Rao, Country Head – Payments, Liability Products, Consumer Finance and Marketing, HDFC Bank, said, "This is a strategic shift towards offering a value-based engagement from a transactional one, and addresses both business and personal banking needs.”

He emphasised,“We are now delivering a more modular, scalable and business life stage-aligned proposition. Our Biz+ Account range is designed to be adaptive-with Dynamic Multiplier Benefits that scale with business growth, removing friction."

The launch is part of the bank's One Bank approach and reflects its focus on supporting business growth and entrepreneurship through integrated banking services.

(KNN Bureau)

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