HDFC Bank has introduced a new suite of current account products named Biz+, specifically designed to support small businesses throughout their various stages of growth.
This initiative aims to enhance banking services for micro, small, and medium enterprises (MSMEs) amid intensifying competition among banks for MSME clientele and increasing regulatory attention on fostering growth in the sector.
The Biz+ suite comprises four variants: Biz Lite+, Biz Pro+, Biz Ultra+, and Biz Elite+—each tailored to different phases of a business’s lifecycle. Biz Lite+ caters to startups, offering a free cash deposit limit of six times the account balance, complimentary debit cards with tax-saving features, insurance coverage, and rental waivers on point-of-sale devices.
Biz Pro+ is designed for growing businesses, providing a higher cash deposit limit of ten times the account balance, access to zero-collateral overdraft facilities, and extended PoS rental waivers. Biz Ultra+ targets expanding enterprises, offering a 12X cash deposit limit, BizPower credit card benefits worth up to Rs 1.3 lakh annually, and exclusive deals through the bank’s Preferred Program.
Biz Elite+ is curated for mature, diversifying businesses, offering a 15X cash deposit limit, benefits under the Imperia Program, pan-India cash management solutions, and the waiver of foreign bank charges on international remittances.
In a move to bolster trust and business continuity, HDFC Bank is also offering new-to-bank current account holders’ comprehensive business and payment protection insurance from day one for the first year. This value addition aims to mitigate potential operational risks and offer peace of mind to entrepreneurs.
The Biz+ offering is currently available across the bank’s expansive network of 9,455 branches. With over 4.5 million small businesses across India as its target audience, HDFC Bank envisions the Biz+ suite as a transformative product designed to simplify and optimise banking experiences.
Speaking on the launch, 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. 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 bundled structure of the Biz+ Current Accounts integrates liability and asset products, business credit cards, and digital payment solutions into one cohesive solution. This modular design supports scale, agility, and ease of banking for entrepreneurs navigating India’s dynamic economic landscape.
By aligning financial services with distinct business stages and industry verticals, HDFC Bank’s Biz+ offering stands out as a significant step in empowering India’s business ecosystem.
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