Savings Accounts
Other Accounts & Deposits
Acessyour account from
Branches and
ATMs in
Indian towns and cities.
- Personal
- Products
- Accounts & Deposits
- Savings Accounts
- Institutional Savings Account
Features and Benefits
- Zero balance account
- Payable at Par chequebook with no usage charge
- Free Outstation Cheque Collection at HDFC Bank locations across the country
- Free & unlimited DDs on HDFC Bank locations
- Free monthly account statements OR option to avail Daily / Weekly /Monthly statements on email.
- Access your account through various channels like NetBanking, PhoneBanking and MobileBanking.
- We shall ease out collections of fees, donations etc by linking this account with our Payment Gateway, POSPoint of Sale terminals etc.
- Payments can also be facilitated using salary accounts, Cash Management Services etc.
- Bank conveniently with facilities like NetBanking, Phonebanking and MobileBanking – check your account balance, pay utility bills or stop cheque payments all via SMS.
Eligibility
If you are a Trust, Association, Society, Club, NGO, Charitable Hospital, Educational Institute, Section 25 companies that is eligible to open a savings account as per RBI guidelines, then; you can open an Institutional Savings Account.
Contact us
Ahmedabad
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What are the fees and charges applicable to a Institutional Savings Account?
| Description of Charges | Institutional Savings Account | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Balance (Average Monthly Balance) | Zero | ||||||||||||||
| Charges on non maintenance thereof | NIL | ||||||||||||||
| Cheque Book | Free | ||||||||||||||
| Account Statements - Free | Monthly statements sent by post | ||||||||||||||
| Issue of duplicate / adhoc statements | Branch - Rs 100/- PhoneBanking ( Non IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs.) - Rs.75/- NetBanking, Mobile Banking, PhoneBanking - IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. & ATM - Rs 50/- |
||||||||||||||
| Hold Statement | Rs. 400 per year | ||||||||||||||
| Managers Cheques/Demand Drafts- Issuance/Re-issuance - On HDFC Bank Locations |
|
||||||||||||||
| Managers Cheque/Demand Drafts - Cancellation / Revalidation | Rs. 50 | ||||||||||||||
| Demand Drafts- Issued - On Non HDFC Bank Locations |
|
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| Cheque Collection - Local Clearing Zone | Free | ||||||||||||||
| Collection of outstation cheques - our bank locations | Free | ||||||||||||||
| Collection of outstation cheques - other locations |
|
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| Cheque return charges drawn on us - Local |
|
||||||||||||||
| Cheques deposited returned unpaid | Rs. 100/- | ||||||||||||||
| Balance Enquiry - at Branch | Free | ||||||||||||||
| Balance Certificate | Current year - Free, Previous year - Rs. 50 | ||||||||||||||
| Interest Certificate | Rs. 50 | ||||||||||||||
| TDS Certificate | Free | ||||||||||||||
| Account Closure | Upto 14 days - Nil 15 days upto 6 months - Rs 500/- 6 months upto 12 months - Rs 500/- Beyond 12 months - Nil |
||||||||||||||
| Photo Attestation | Rs 100/- per instance | ||||||||||||||
| Signature Attestation | Rs 100/- per instance | ||||||||||||||
| Address Confirmation | Rs 50/- per instance | ||||||||||||||
| Stop Payment Charges | Particular Cheque - Rs. 50 (Free through PhoneBanking & NetBanking), Range of Cheques - Rs. 100 (Free through PhoneBanking & NetBanking) |
||||||||||||||
| Standing Instructions | Setting up Rs. 150, Rs. 25 per transcation plus remittanceRemittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. charge | ||||||||||||||
| Unarranged overdraft | NA | ||||||||||||||
| Old records/copy of paid cheques | Upto 1 year - Rs. 50 per record, Above 1 year - Rs. 100 per record | ||||||||||||||
| Activation of dormant account | No charges | ||||||||||||||
| Branch transactions (Includes only Cheque deposit/Cheque issuance/Funds Transfer Debit/NEFT/RTGS) | Free | ||||||||||||||
| Interbranch transactions through teller counters - Funds Transfer | Free | ||||||||||||||
| Interbranch transactions through teller counters - Cash transactions. | Cash deposit value upto Rs. 50,000/ per day - No charge Cash withdrawal value upto Rs. 50,000/ per day - No charge Above Rs. 50,000/- charged at Rs. 5/- per 1,000/- on the full amount |
||||||||||||||
| Third party cash transactions at non-home branches through teller counters | Upto a limit of Rs.50,000 per day - Free. Above Rs.50,000 - Not allowed |
||||||||||||||
| Local Cheque deposited for outstation accounts | No Charge | ||||||||||||||
| PhoneBanking - IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. | Free | ||||||||||||||
| PhoneBanking - Non IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. | Free | ||||||||||||||
| InstaPay | Rs. 10 (plus taxes) per transaction | ||||||||||||||
| InstaAlert | Rs. 25 (plus taxes) per qtr per account | ||||||||||||||
| Visa Money Transfer | Rs.5 (plus taxes) per transaction | ||||||||||||||
| NEFT Charges - Inward | NIL | ||||||||||||||
| NEFT Charges- outward |
|
||||||||||||||
| NEFT Charges for Indo Nepal transactions | Customers having NSBL*A/c - Rs 20/- Customers having Non-NSBL* A/c: Upto Rs 5,000 - Rs 70/- Above Rs 5,000 - Rs 95/- * Nepal State Bank Ltd |
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| RTGS - Outward |
|
||||||||||||||
| RTGS - Inward | NIL | ||||||||||||||
| MobileBanking | NIL | ||||||||||||||
| NetBanking | Free | ||||||||||||||
| ECS (Debit) Return Charges | - Rs 350/- would be levied on first instance of ECSStands for Electronic Clearing Service. It is a mode by which funds are automatically debited to your account every month to pay or a certain bill or fee. It helps so you don’t have to remember every month to pay your regular bills. It is only done after a standing instruction is given by the account holder. return in a quarter. - Rs 750/- would be levied, second instance onwards in the same quarter. |
||||||||||||||
| Non Operational Account - Account with no customer initiated transaction in the account for past 1 year | Rs 50/- per quarter | ||||||||||||||
| Any Deliverable returned by courier due to negative reasons (no such consignee/ consignee shifted and no such address) | Rs 50/- per instance | ||||||||||||||
| TIN/IPIN Regeneration (requests received at the branch for physical dispatch) | Rs 50/- per instance | ||||||||||||||
| Standing Instructions rejects | Rs 200/- per instance | ||||||||||||||
Click here to view charges applicable before 1st January 2012
Effective 1st April 2012, all fees and charges, mentioned in the Tariff of charges, will attract Service Tax @12% and Education Cess @3% of the Service Tax amount.
Eligibility
Institutional Savings Account can be opened by:
- Primary Co-operative Credit Society which is being financed by the bank.
- Khadi and Village Industries Boards.
- Agriculture Produce Market Committees.
- Societies registered under the Societies Registration Act, 1860 or any other corresponding law in force in a State or a Union Territory except societies registered under the State Co-operative Societies Acts and specific state enactment creating Land Mortgage Banks. .
- Companies governed by the Companies Act, 1956 which have been licensed by the Central Government under Section 25 of the said Act, or under the corresponding provision in the Indian Companies Act, 1913 and permitted, not to add to their names the words ‘Limited’ or the words ‘Private Limited’.
- Institutions other than those mentioned in clause(i) below and whose entire income is exempt from payment of Income-tax under the Income-Tax Act, 1961.
- Government departments / bodies / agencies in respect of grants/ subsidies released for implementation of various programmes / Schemes sponsored by Central Government / State Governments subject to production of an authorization from the respective Central / State Government departments to open savings bank account.
- Development of Women and Children in Rural Areas (DWCRA).
- Self-help Groups (SHGs), registered or unregistered, which are engaged in promoting savings habits among their members.
- Farmers’ Clubs – Vikas Volunteer Vahini – VVV. held in Domestic, NRO and NRE Accounts – 2011
Clause (i):
As per RBI guidelines, Savings Account cannot be opened for:
- Government departments/bodies depending upon budgetary allocations for performance of their functions
- Municipal Corporations or Municipal Committees
- Panchayat Samitis
- State Housing Boards
- Water and Sewerage/Drainage Boards/State Text Book Publishing Corporations/ Societies/Metropolitan Development Authority / State/ District Level Housing Co-operative Societies (6) Any political party or any trading/business or professional concern, whether such concern is a proprietary or a partnership firm or a company or an association.
Entities that are not eligible to open a Savings Account can avail of our Institutional Current Account. Please walk-in to any branch to know more about the Institutional Current Ac.
Have questions?
What is the AMB (Average Monthly Balance) requirement of the Institutional Savings Account?
An Institutional Savings Account is a ZERO BALANCE account.
What is the general documentation requirement to open an Institutional Savings Account?
The following documents are required:
- Account opening form for non-individuals to be completed and signed by all authorized signatories
- Registration proof with any state regulatory authorities
- Certificate of Registration with the Local Charities Commissioner (for charitable trusts)
- Income Tax registration u/s 12A for entities as specified in RBI circular
- Certified Copy of the Trust Deed / Bye-laws / MOA/ Constitution
- Proof of address of the Trust
- Certified Copy of the Resolution from Board of Trustees / governing body defining who is going to be the authorized signatory in the account / authorizing the opening and conduct of the account
- Proof of appointment of present Trustees/ governing body members in case they are not listed in the Trust Deed / bye-laws / constitutional document
- PAN Card / Form 60 as may be applicable
- FCRA declaration for receipt / non-receipt of foreign remittanceRemittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. into the account
- Proof of identity and photographs of all trustees authorised to operate the account
Is there an AMB (Average Monthly Balance) declaration required to be submitted along with the documents for an Institutional Savings Account?
No. There is no AMB declaration required since it is a Zero Balance Account.
Can unregistered institutions open an Institutional Savings Account?
No. Accounts of only registered trusts, societies, associations, clubs can be opened.
Can I get a Debit Card linked to my Institutional Savings Account?
Yes. Business Debit Cards are issued to Authorised Signatories in the account. This is done provided the mode of operation is ‘Singly’ OR ‘Either or Survivor’ and the operating instructions allow the signatory to sign for amounts above Rs. 1 lakh.
This is because the combined - ATM & POSPoint of Sale - per day limit on the Business Debit Card is Rs.1 lakh.
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What can you do online?
- Download/ Request for an account statement
- Check your account balance
- Enquire about cheque status
- Book Fixed Deposits
Did you know?
You can link the Institutional Savings account with our Payment Gateway to facilitate collection of fees/charges/donations for your institution online.
Contact Us
Ahmedabad
Expand All
Get started with Institutional Savings Account
Have you got your Welcome Kit? Inside your welcome kit you should find a
- Welcome Letter – This is to welcome you as an HDFC Bank Institutional Savings Account customer so you can enjoy all the privileges and services we offer.
- Cheque book – You get a free 25 leaf cheque book in your welcome kit. To apply for additional cheque books please check the fees and charges.
- Fees and services brochure - This is to show you the various charges applicable to transactions and the services available on your Institutional Savings Account.
Did you know?
- You can also link the account to Point-of-sale terminals for collections.
- You can also avail of HDFC Bank's Cash Management Services that will ease collections and payments for your institute.
- You can pay your staff salaries from the comfort of your office using our salary upload software "Enet".
- In case your institution receives foreign contribution, we also offer the FCRA account to enable collection of the same.
You can also benefit from
- An exclusive Business Debit Card that offers you business benefits and shopping incentives.
- Individual Savings Account for your personal banking transactions.
What are the fees and charges applicable to a Institutional Savings Account?
| Description of Charges | Institutional Savings Account | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Minimum Balance (Average Monthly Balance) | Zero | ||||||||||||||
| Charges on non maintenance thereof | NIL | ||||||||||||||
| Cheque Book | Free | ||||||||||||||
| Account Statements - Free | Monthly statements sent by post | ||||||||||||||
| Issue of duplicate / adhoc statements | Branch - Rs 100/- PhoneBanking ( Non IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs.) - Rs.75/- NetBanking, Mobile Banking, PhoneBanking - IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. & ATM - Rs 50/- |
||||||||||||||
| Hold Statement | Rs. 400 per year | ||||||||||||||
| Managers Cheques/Demand Drafts- Issuance/Re-issuance - On HDFC Bank Locations |
|
||||||||||||||
| Managers Cheque/Demand Drafts - Cancellation / Revalidation | Rs. 50 | ||||||||||||||
| Demand Drafts- Issued - On Non HDFC Bank Locations |
|
||||||||||||||
| Cheque Collection - Local Clearing Zone | Free | ||||||||||||||
| Collection of outstation cheques - our bank locations | Free | ||||||||||||||
| Collection of outstation cheques - other locations |
|
||||||||||||||
| Cheque return charges drawn on us - Local |
|
||||||||||||||
| Cheques deposited returned unpaid | Rs. 100/- | ||||||||||||||
| Balance Enquiry - at Branch | Free | ||||||||||||||
| Balance Certificate | Current year - Free, Previous year - Rs. 50 | ||||||||||||||
| Interest Certificate | Rs. 50 | ||||||||||||||
| TDS Certificate | Free | ||||||||||||||
| Account Closure | Upto 14 days - Nil 15 days upto 6 months - Rs 500/- 6 months upto 12 months - Rs 500/- Beyond 12 months - Nil |
||||||||||||||
| Photo Attestation | Rs 100/- per instance | ||||||||||||||
| Signature Attestation | Rs 100/- per instance | ||||||||||||||
| Address Confirmation | Rs 50/- per instance | ||||||||||||||
| Stop Payment Charges | Particular Cheque - Rs. 50 (Free through PhoneBanking & NetBanking), Range of Cheques - Rs. 100 (Free through PhoneBanking & NetBanking) |
||||||||||||||
| Standing Instructions | Setting up Rs. 150, Rs. 25 per transcation plus remittanceRemittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. charge | ||||||||||||||
| Unarranged overdraft | NA | ||||||||||||||
| Old records/copy of paid cheques | Upto 1 year - Rs. 50 per record, Above 1 year - Rs. 100 per record | ||||||||||||||
| Activation of dormant account | No charges | ||||||||||||||
| Branch transactions (Includes only Cheque deposit/Cheque issuance/Funds Transfer Debit/NEFT/RTGS) | Free | ||||||||||||||
| Interbranch transactions through teller counters - Funds Transfer | Free | ||||||||||||||
| Interbranch transactions through teller counters - Cash transactions. | Cash deposit value upto Rs. 50,000/ per day - No charge Cash withdrawal value upto Rs. 50,000/ per day - No charge Above Rs. 50,000/- charged at Rs. 5/- per 1,000/- on the full amount |
||||||||||||||
| Third party cash transactions at non-home branches through teller counters | Upto a limit of Rs.50,000 per day - Free. Above Rs.50,000 - Not allowed |
||||||||||||||
| Local Cheque deposited for outstation accounts | No Charge | ||||||||||||||
| PhoneBanking - IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. | Free | ||||||||||||||
| PhoneBanking - Non IVRInteractive voice response (IVR) is a technology that allows a computer to interact with humans through the use of voice and keypad inputs. | Free | ||||||||||||||
| InstaPay | Rs. 10 (plus taxes) per transaction | ||||||||||||||
| InstaAlert | Rs. 25 (plus taxes) per qtr per account | ||||||||||||||
| Visa Money Transfer | Rs. 5 (plus taxes) per transaction | ||||||||||||||
| NEFT Charges - Inward | NIL | ||||||||||||||
| NEFT Charges- outward |
|
||||||||||||||
| NEFT Charges for Indo Nepal transactions | Customers having NSBL*A/c - Rs 20/- Customers having Non-NSBL* A/c: Upto Rs 5,000 - Rs 70/- Above Rs 5,000 - Rs 95/- * Nepal State Bank Ltd |
||||||||||||||
| RTGS - Outward |
|
||||||||||||||
| RTGS - Inward | NIL | ||||||||||||||
| MobileBanking | NIL | ||||||||||||||
| NetBanking | Free | ||||||||||||||
| ECS (Debit) Return Charges | - Rs 350/- would be levied on first instance of ECSStands for Electronic Clearing Service. It is a mode by which funds are automatically debited to your account every month to pay or a certain bill or fee. It helps so you don’t have to remember every month to pay your regular bills. It is only done after a standing instruction is given by the account holder. return in a quarter. - Rs 750/- would be levied, second instance onwards in the same quarter. |
||||||||||||||
| Non Operational Account - Account with no customer initiated transaction in the account for past 1 year | Rs 50/- per quarter | ||||||||||||||
| Any Deliverable returned by courier due to negative reasons (no such consignee/ consignee shifted and no such address) | Rs 50/- per instance | ||||||||||||||
| TIN/IPIN Regeneration (requests received at the branch for physical dispatch) | Rs 50/- per instance | ||||||||||||||
| Standing Instructions rejects | Rs 200/- per instance | ||||||||||||||
Click here to view charges applicable before 1st January 2012
Effective 1st April 2012, all fees and charges, mentioned in the Tariff of charges, will attract Service Tax @12% and Education Cess @3% of the Service Tax amount.
Have questions?
Can I get a Debit Card linked to my Institutional Savings Account?
Yes. Business Debit Cards are issued to Authorised Signatories in the account. This is done provided the mode of operation is ‘Singly’ OR ‘Either or Survivor’ and the operating instructions allow the signatory to sign for amounts above Rs. 1 lakh.
This is because the combined - ATM & POSPoint of Sale - per day limit on the Business Debit Card is Rs.1 lakh.
My institution will start receiving foreign contribution. Can I receive the same in the Institutional Savings Account ?
No. The institutional Savings Account cannot be used for receiving foreign contribution. You will need to open a separate FCRA account for receiving foreign contribution.
Can funds be credited to an FCRA account simply after the account is opened?
No. Funds can be credited to the FCRA account only after the approval from Ministry of Home Affairs (MHA) is received for that account. Till then, the account will be blocked.
What is the time taken to realize outstation cheques?
The indicative time taken for the realization of outstation cheques is given below:
- Cheques drawn where HDFC Bank has a branch, credit will be given on receipt of clear funds in:
- Main metro locations (Mumbai, Chennai, Kolkata, New Delhi): 7 working days
- Metro centers and state capitals (other than those of North Eastern states and Sikkim): Maximum period of 10 working days.
- In all other centres where we have branches: maximum period of 14 working days.
- Cheques drawn on non-branch locations where we have a tie-up with correspondent banks, credit will be given on receipt of clear funds: Within a maximum period of 14 working days
- Cheques drawn on non-branch locations where we do not have a tie-up with correspondent banks, credit will be given on receipt of clear funds: Within a maximum period of 14 working days
For more details on the outstation cheque collection policy, click here. For other queries, Contact Us.
What is the procedure to add applicants to your Saving Accounts?
To add an applicant to your savings account, kindly follow the steps below:
- Submit a letter to the branch specifying that you would like to add another applicant to your existing account (mention the name of the applicant in the letter) and sign the letter (all existing applicants must sign)
- Submit a completely filled fresh account opening form available at all HDFC Bank branches. The account opening form should contain a photograph of new applicant (to be added in existing account)
- The account opening form should contain specimen signatures of all existing applicants, including the new applicant (to be added in existing account)
- Submit a proof of identification of the new applicant (provided the applicant does not have any other account with Bank)
- Submit an address proof of the new applicant
All the existing applicants in your account are required to be physically present at the branch, along with the new applicant. As soon as the form and other documents are received and found to be in order, the name will be added to the account within 7 working days, provided no exceptions are found. This will be followed up with the deliverables, as requested at the time of name addition.
For more details, Contact Us
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