SVC Institutional Savings Account

SVC Institutional Savings Account

Key Features

Customised account with tailor-made features & benefits for institutions such as Trusts, Associations, Educational Institutions, and more.

Free unlimited Cheque Leaves

Free unlimited NEFT / RTGS transactions

Enhanced Cash Deposit limit

Free unlimited DD / PO per annum

Other Benefits

Other Benefits

  • Corporate NetBanking enabled
  • Free unlimited Cheque Leaves per annum
  • Free NEFT / RTGS transactions
  • Free unlimited DD / PO per annum
  • Free unlimited Cash Withdrawal at Base Branch
  • Cash Withdrawal limit of INR 50,000 at other SVC Bank Branches
  • Cash Deposit limit of INR 10,00,000 at SVC Bank branch, per month, or 10 times the Average Monthly Balance (AMB), whichever is higher, if AMB is maintained
  • Cash Deposit limit of INR 1,00,000 at SVC Bank branch, per month, or 8 times the Average Monthly Balance (AMB), whichever is higher, if AMB is not maintained
  • Free SMS Alerts and E-mail Account Statements
  • Auto Sweep-in Sweep-out Facility (On request only)
  • Any Branch banking enabled

* Other charges, as per SOC, are applicable

Eligibility
 
  • Available only for institutions (except Housing Societies)
  • Minimum average balance requirement of INR 5,000 with an initial IP of INR 5,000
  • Initial deposit: INR 5,000
  • Minimum Average Quarterly Balance: INR 5,000
 
 
Required Documents
 
  • Account Opening Form
  • Documents - As per Bank's KYC guidelines for the respective institution

FAQ

Institutional Savings Account holder needs to maintain an AQB (Average Quarterly Balance) of INR 5,000

Charge of INR 150 is applicable per quarter, if AQB is not maintained

An Institutional Account holder is entitled to receive unlimited cheque leaves free and DD/PO.

Institutional Savings Account is a specific offering by SVC Bank catering to the needs of the Institutional Segment - Trusts, Associations, Schools, Colleges, etc.

Institutional account has a cash deposit limit of INR 10,00,000 or 10 times of AMB, whichever is higher.

No charges for NEFT / RTGS transactions through Branch Banking as well as Internet Banking