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  • HDFC Institutional Savings Account

    Savings Account
    • Instant money transfer
    • 24x7 ATM withdrawals
    • Attractive rate of interest

    This savings account variant, as offered by HDFC bank, is a zero-balance account that is specially designed to make your payments easy and to offer simple solutions to collect your donations, fees etc.

    Highlights of HDFC Institutional Savings Account

    CategoryInstitutional Savings Account
    Minimum Balance RequirementZero Average Monthly Balance Requirement

    Features of HDFC Institutional Savings Account

    Demand DraftsFree and unlimited DD at all HDFC Bank Locations
    Cheque CollectionFree outstation cheque collection at all HDFC bank locations across India
    Online PaymentsSalary and vendor payments will be enabled through HDFC’s corporate payment software, Enet
    Net Banking, Phone Banking and Mobile BankingOffered to all institutional account holders
    Collection of fees, donation etc.Will be facilitated by linking institutional savings account with POS terminals, payment gateway and payment kiosk

    Eligibility for HDFC Institutional Savings Account

    Institutional Savings account can be opened by the following classes of applicants.

    • Agriculture produce market committees
    • Village industries and khadi board
    • Primary co-operative credit society which the bank is financing
    • Farmer’s clubs and Vikas Volunteer Vahini (VVV)
    • Registered or unregistered self-help groups (SHGs) which promote savings habits among people
    • Development of Women and Children in Rural Areas (DWCRA)
    • Government bodies, departments, agencies in respect of grants or subsidies granted for implementation of different schemes approved and sponsored by central or state government
    • Trust, association, club, charitable hospital. NGO and section 25 companies eligible to open a savings account as per RBI guidelines

    For a more comprehensive list of eligible institutions, do enquire with HDFC Bank.

    Fees and Charges on HDFC Institutional Savings Account

    Minimum Average Monthly BalanceZero
    Cheque BookFree
    Issuance of adhoc/duplicate statementsRs.100 – Branch
    Rs.75 – Phone Banking, Non IVR
    Rs.50 – Mobile Banking, Net Banking and Phone Banking, IVR and ATM
    Hold StatementRs.400 per year
    Cancellation or revalidation of demand drafts/manager's chequeNil
    Phone Banking – IVR and Non IVRFree
    Stop payment ChargesRs.50 for a particular cheque and Rs.100 for a range of cheques, free when done through Net Banking and Phone Banking
    Mobile Banking and Net BankingFree

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    GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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