HDFC Institutional Savings Account

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.

Updated On - 05 Sep 2025
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Highlights of HDFC Institutional Savings Account:

Bank

HDFC

Category

Institutional Savings Account

Minimum Balance Requirement

Zero Average Monthly Balance Requirement

Features of HDFC Institutional Savings Account:

Demand Drafts

Free and unlimited DD at all HDFC Bank Locations

Cheque Collection

Free outstation cheque collection at all HDFC bank locations across India

Online Payments

Salary and vendor payments will be enabled through HDFC's corporate payment software, Enet

Net Banking, Phone Banking and Mobile Banking

Offered 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:

  1. Agriculture produce market committees
  2. Village industries and khadi board
  3. Primary co-operative credit society which the bank is financing
  4. Farmer's clubs and Vikas Volunteer Vahini (VVV)
  5. Registered or unregistered self-help groups (SHGs) which promote savings habits among people
  6. Development of Women and Children in Rural Areas (DWCRA)
  7. Government bodies, departments, agencies in respect of grants or subsidies granted for implementation of different schemes approved and sponsored by central or state government
  8. 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 Balance

Zero

Cheque Book

Free

Issuance of adhoc/duplicate statements

Hold Statement

Rs.400 per year

Cancellation or revalidation of demand drafts/manager's cheque

Nil

Phone Banking - IVR and Non IVR

Free

Stop payment Charges

Rs.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 Banking

Free

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

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