Trust NGO Savings Account
When banking becomes thoughtful, the fruits reach countless needy and helpless!
India is a land of boundless contrast. On one hand there are so many places where even a newspaper and radio is only accessed by a privileged few. On the other, some of the metros were voted as the most affluent and livable cities for young professionals and customers. The later has boosted the country into a path towards triumph, in spite of lingering acuities of these regions’ fragility in terms of access to basic needs like food, clean water, and education and so on.
Axis Bank's Trust NGO Savings Account is an attempt to provide thoughtful banking for altruistic individuals who spend their lives thinking of the underprivileged. It is a comprehensive banking solution for NGOs, Trusts, Government Bodies, Societies, Associations, Section 25 organizations and NGOs, so that these setups can dedicate all of their time and energy to their causes.
Features & Benefits of Axis Bank Trust NGO Savings Account:
- Average Monthly Balance (AMB) required for your Trust NGO Savings Account is INR 25,000.
- Cheque facility with no limit on clearance disbursements at any place with the bank presence.
- Free Anywhere Banking across all our Branches and Extension Counters and over all our ATMs.
- Free DD or Pay Orders facilities as and when needed by you to send funds.
- Enjoy free collection of cheques at when you are out of station.
- Free monthly e-statement and paper statement will be sent to you.
- Collects aids and sponsorships in your account via Axis network of area offices and extension counters in the country. You can do the same through iConnect, their Net Banking portal. iConnect will help you keep track of your account activities and access information from the comfort of your home.
- Axis bank will deliver an MIS with detailed info on all the transactions once a month. This can facilitate the Trust to give out receipts to donors.
- You can avail expert advice on Investment from the bank’s Financial Advisory Desk.
- Free Demat: To simplify your fund management, Axis bank offer a free Demat Account (will be charged as per the NSDL) to account holders in the Trust or Society section.
- Constituent Subsidiary General Ledger (SGL) Account: You can avail this service through which savings in Government securities are performed.
- Foreign Contribution (Regulation) Act [FCRA] Accounts:
- The FCRA account empowers authorized establishments and societies to obtain donations from abroad which can be utilized in India.
Fees and Charges of Axis Bank Trust NGO Savings Account:
- Service Fee Per Month will be written off if the required Average Monthly Balance (AMB) of INR 25,000 is retained.
- Metro/ Urban branch: INR 5 per INR 100 or INR 350 (whichever is less).
- Semi Urban/ Rural branch - INR 5 per INR 100 or INR 250 (whichever is less).
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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