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Savings Account

Trust/NGO Savings Account

Get special services and complete banking solutions that power your efforts for social good

SMS Trust City Name to 54646

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Choice of Account

Platinum, Gold, Silver and Standard

Unlimited access to funds

Free DD/PO, NEFT/RTGS, Cash Transactions

Collection & Payment Solutions

Collection of Donations/ Fees, Payment of Salary, Vendors etc

Value Added Service

FCRA accounts, Family Banking, Salary Accounts for trust employees

Eligibility and Documentation

This Account can be opened by the following entities:

  • 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 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) 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/State Government subject to production of an authorisation from the respective 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

Savings Account can be opened for Trusts as per RBI Guidelines as defined in RBI Circular on Interest Rates on Rupee Deposits held in Domestic, Ordinary Non-Resident (NRO) and Non-Resident (External) (NRE) Accounts (RBI/2015-16/39 DBR.No.Dir.BC.7/13.03.00/2015-16)

General documentation for Trusts/NGO’s

  • Registration Certificate of Trust / sSociety / Association/ Club
  • Trust Deed / Bye-laws / Constitutional Document (If unregistered, notarized copy to be obtained)
  • Copy of PAN Card
  • Income Tax registration u/s 12A for entities as specified in RBI circular
  • Certified copy of resolution for opening and operating of the account
  • Duly authenticated list of current Trustees / Office bearers on the letter head of the entity
  • Address proof of the entity
  • Beneficial Ownership declaration
  • KYC documents of the authorized signatories

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