Institutional Savings Account

A zero balance Savings Account with a wide range of convenient options to collect your fees, donations etc., and simplify your payments.

Apply now for an HDFC Bank Institutional Savings Account.

Features and Benefits

  • Zero balance account
  • Free & unlimited Demand Drafts at HDFC Bank locations
  • Payable at Par cheque book with no usage charge
  • Free Outstation Cheque Collection at HDFC Bank locations across the country
  • We shall ease out collections of fees, donations etc through various online modes by linking this account with our Payment Gateway, POS terminals, Payment Kiosk etc.

Know more Apply Online

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.

Know more Apply Online

Contact us

Contact Number
Ahmedabad
6160 6161

What features and benefits are offered with Institutional Savings Account?

Features

You will get some exclusive features and benefits with your HDFC Bank Institutional Savings Account

  • You can also use our vast branch network for collection of donations, fees etc. The collections will be facilitated by our Cash Management Services team.
  • Online payments like salary payments, vendor payments etc can be facilitated through our corporate payment software Enet
  • Bank conveniently with facilities like NetBanking, PhoneBanking and MobileBanking – check your account balance, pay utility bills or stop cheque payments all via SMS.
  • You can also avail Free monthly account statements OR option to avail Daily / Weekly /Monthly statements on email.

What are the fees and charges of Institutional Savings Account ?

Enclosed below are HDFC Bank Institutional Savings Account fees and charges

Description of ChargesInstitutional 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 IVR) - Rs.75/-
NetBanking, Mobile Banking, PhoneBanking - IVR & ATM - Rs 50/-
Hold Statement Rs. 400 per year
Managers Cheques/Demand Drafts- Issuance/Re-issuance - On HDFC Bank Locations
DD request through Branch
Free DDs** on HDFC Bank locations
DD request through NetBanking
Free + Corr Bank charges if applicable
Third party DD* upto Rs. 1 Lakhs - Free + Corr Bank charges if applicable
(*Third Party Registration required .Customers registered for Third Party Transfers have a maximum limit of 10 lacs per cust id and hence can issue multiple DDs of 1 lacs upto 10 lacs and send it to the beneficiary address

** Only DD amount upto Rs 100,000 for Preferred & Rs 50,000 for other customers accepted at Phonebanking )
Managers Cheque/Demand Drafts - Cancellation / Revalidation Nil
Demand Drafts- Issued - On Non HDFC Bank Locations
Rs. 50 plus charges as outlined below:
Upto Rs. 500 Rs. 10
Above Rs. 500 to Rs. 1000 Rs. 15
Above Rs. 1000 to Rs. 5000 Rs. 25
Above Rs. 5000 to Rs. 10,000 Rs. 30
Above Rs. 10,000 to Rs. 1 Lakh Rs. 3 per 1000 or part thereof
Above Rs. 1 Lakh Rs. 6 per 1000 or part thereof (Min Rs 300 - to Max Rs 10,000/-)
Cheque Collection - Local Clearing Zone Free
Collection of outstation cheques - our bank locations Free
Collection of outstation cheques - other locations
Charges for cheques drawn on Non-Branch locations
Trust Account
Upto Rs 10,000 Rs. 25/-
Rs. 10,000/- to Rs. 1,00,000/- Rs. 100/-
Rs. 1,00,001/- and above Rs. 150/-
Cheques drawn on Speed clearing branches - Free
Cheque return charges drawn on us - Local
For the first instance in a quarter - Rs.350/-
Charges due to funds transfer cheque return - Rs. 350/-
2nd instance & above in the same quarter - Rs.750/-
Due to Technical reasons ( eg - date not mentioned, post dated, sign mismatch etc) - No charge
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 Nil
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 charges: Nil,
Rs. 25 per transaction plus remittance 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 ( transaction at non account branch ) through teller counters - Funds Transfer Free
Interbranch transactions ( transaction at non account branch ) 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


W.e.f 1 August 2014 the above charge is being revised as follows:
Upto Rs 5 lac free
Above Rs 5 lac a charge of Rs. 5/- per 1000/- will be levied on the full amount

Local Cheque deposited for outstation accounts No Charge
PhoneBanking - IVR Free
PhoneBanking - Non IVR 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
  • Amounts up to Rs. 10,000 - Rs.2.5 (exclusive of taxes) per transaction
  • Amounts from Rs.10,001 to Rs.1 lakh - Rs. 5 (exclusive of taxes) per transaction
  • Amounts above Rs. 1 lakh up to Rs. 2 lakh - Rs. 15 (exclusive of taxes) per transaction
  • Amounts above Rs.2 lakh – Rs.25 (exclusive of taxes) per transaction
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
  • Rs. 1 lakh to 2 Lakhs - Free
  • Above Rs. 2 Lakhs to 5 Lakhs - Rs. 25 (inclusive of taxes) per transaction
  • Above Rs 5 Lakhs - Rs. 50 (inclusive of taxes) per transaction
RTGS - Inward NIL
MobileBanking NIL
NetBanking Free
ECS (Debit) Return Charges - Rs 350/- would be levied on first instance of ECS return in a quarter.

- Rs 750/- would be levied, second instance onwards in the same 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 for Institutional Account

Get details on eligibility criteria & documents required for HDFC Bank Institutional Savings Account

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.

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.

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