Open Flo, an all-in-one Digital Banking Platform, offers India’s first individual current account integrated with smart business tools to help you manage your invoices, payments, accounting and taxes.
When it comes to freelancers and consultants, a regular bank account just won’t make the cut. That's why we've partnered with Axis Bank to offer a digital current account that is built just for you.
Get an Axis Bank debit card with your digital current account! And gain access to Axis Bank branch outlets & cheque books for your business.
Smart business tools to manage your invoices, track payments, pay vendors and manage your accounting and taxes.
Avail flexible financing solutions with collateral-free business loans of up to 30 lakhs.
Sign up & enter basic details
PAN and Aadhar verification
Complete video KYC verification
Activate your account
Make your invoicing process seamless, get paid faster and track your income easily with Open Flo
Create and send estimates and branded GST invoices to clients. Receive payments via bank transfers and online payment links. Automatically match your payments against invoices to automate your accounting.
Upload your bills to make superfast vendor payments and automatically match them to bills to automate accounting. Get a bird’s eye view of all your bills and manage your finances better.
Leverage our expense management tools to separate your personal and business expenses. Manage your online subscriptions and purchases with virtual cards. Use our expense tracking feature to keep track of all your expenses.
Stay in control of your cash flow with detailed insights and reports on profits, income, expenses and more.
Manage your bookkeeping with the automated accounting feature and generate insightful bookkeeping and cash flow reports.
Get a completely digital business loan up to 30 lakhs just based on your freelancing or consulting project earnings with zero collaterals.
Clear your loan within a tenure of up to 60 months with easy monthly installments.
"As a freelancer, separating my personal and business finances was chaos! But once I started using the Axis Bank Digital Current Account for my business, managing my finances has become so much easier. It's a complete solution for all my financial needs."
"Open Flo and the digital current account it comes with has really changed the way I manage my consulting finances. As someone who is always on the go, I have struggled to keep track of my cash flow in the past, but Open Flo has changed that for me. The reports feature on the platform gives me complete visibility of my income and expenses."
"Once I started using the Axis Bank digital current account, it has been a game-changer for me when it comes to getting paid on time. With Open Flo, I can easily create and send branded invoices to my clients with inbuilt payment links. I can also set up automatic reminders to ensure that my clients don't forget to pay their invoices!"
Your current account will be opened with Axis Bank through a completely online journey, where you will only need your Aadhar and PAN card.
Yes, there is a minimum balance requirement of Rs. 7500 if you are from a rural area, and Rs. 15000 in an urban area.
You can easily apply for a current account by signing up on flo.open.money and filling in some basic information. You will then need to verify your PAN card and Aadhaar card, and complete a video KYC where you will need to produce the original documents with a bank representative. After that, you just need to add an initial funding of Rs. 10000, and your account will be fully functional within 48 hours.
No, the process of applying for a current account via Open Flo is completely online. Bank officials will only connect with you if additional documentation or signatures are required.
Creating a current account via Open Flo is as simple as opening a traditional bank account, perhaps even easier. It is an all-in-one digital banking platform built for Freelancers and Consultants. Open Flo comes with tools for creating and sending estimates, managing invoices and payments, tracking client payments, paying vendors, handling expenses, and managing accounting and taxes.
There are no additional charges for creating a current account. However, businesses are required to share an initial funding of Rs. 10,000 as a mandate set by the RBI. The amount will reflect as an account balance once the account is active, and can be withdrawn from your current account or used for making business transactions anytime..
You can refer to the all transactional charges here: https://www.axisbank.com/docs/default-source/default-document-library/schedule-of-charges-for-digital-current-account-30092020.pdf