Institutional Savings Account
Ujjivan SFB Institutional Savings Account caters to the needs of Trusts, Associations, Clubs, Societies, Government Institutions, Religious Trusts, Employee Welfare Trusts, Hospitals etc. We also offer a wide array of features and solutions to support your organisation's banking needs. Get higher free cash deposit limit, earn big on interest up to 7.50%* p.a., enjoy no minimum average balance, and more with our Institutional Savings Account.
Key Features of Ujjivan SFB Institutional Savings Account
Zero deposit amount for account opening
No monthly balance maintenance requirement
Unlimited number and amount of monthly withdrawals at a branch
Free passbook & cheque book provided on request
Free monthly e-statement or hard copy of the statement provided on request
Free transaction through online mood/branch-IMPS/RTGS/NEFT
Key Features of Ujjivan SFB Institutional Savings Account
Zero deposit amount for account opening
No monthly balance maintenance requirement
Unlimited number and amount of monthly withdrawals at a branch
Free passbook & cheque book provided on request
Free monthly e-statement or hard copy of the statement provided on request
Free transaction through online mood/branch-IMPS/RTGS/NEFT
Top Benefits of Ujjivan SFB Institutional Savings Account
*On an incremental balance above ₹5 lakhs Interest rates demonstrated are subject to change from time to time. Other T&C apply.
Services Offered
How to Open a Ujjivan SFB Institutional Savings Account Online
Follow these simple steps to open the Institutional Savings Account online.
For assistance, you can call our 24/7 customer support or visit your nearest branch.
Ujjivan SFB Institutional Savings Account Interest Rates
Below mentioned are the Interest Rates with Effect from 15th November 2023
| Account balance | Rate of interest (p.a)* |
|---|---|
| Up to ₹1 lakh | 3.50% |
| > ₹1 lakh to ₹5 lakhs | 5.00% |
| > ₹5 lakhs | 7.50% |
For more information on the interest rate for your, Institutional Savings Account click here.
Am I Eligible for Ujjivan SFB Institutional Savings Account
To apply for the Ujjivan SFB Institutional Savings Account, you should fall into one of the following groups-
Declaration - Increase in cash withdrawal threshold u/s 194N with respect to co-operative societies click here
FAQs
1. What is the Ujjivan Small Finance Bank Institutional Savings Account?
The Ujjivan Small Finance Bank’s Institutional Savings Account is a specialised bank account offering a myriad of features and solutions to help support your organisation’s banking needs. It caters to the needs of various associations, trusts, societies, clubs, government institutions, employee welfare trusts, religious trusts, hospitals and more.
2. How much rate of interest is offered with the Institutional Savings Account?
The rate of interest offered for an Institutional Savings Account is up to 7.5%* p.a.
3. How does Ujjivan SFB calculate the interest amount on the Institutional Savings Account?
Ujjivan SFB calculates the interest daily on end-of-day balances. The interest amount is credited quarterly.
4. Will I be provided a cheque book for Ujjivan Small Finance Bank’s Institutional Savings Account?
Yes, you will get a free cheque book and passbook for your Institutional Savings Account upon request.
5. Will I get updates for transactions in the Institutional Savings Account?
Yes, SMS alerts are sent to your registered mobile number for every transaction.
6. I have a question about the Institutional Savings Account. Whom should I contact?
You can contact Ujjivan Small Finance Bank's customer care for any query about the Institutional Savings Account. Call the toll-free number 1800 208 2121, visit the nearest branch or use the 24*7 phone banking facility for quick and efficient resolution.
7. How much money do I need to deposit for opening the Institutional Savings Account?
No minimum amount is required as an initial deposit at the time of account opening.
8. How much balance do I need to maintain monthly?
There is no compulsion to maintain a monthly average balance with Ujjivan SFB Institutional Savings Account.
9. Are electronic transactions such as NEFT, RTGS, and IMPS chargeable?
No, electronic transactions such as IMPS, RTGS, and NEFT are free if conducted through online mode or at the bank branch.
10. How can I locate the branches of Ujjivan Small Finance Bank?
The Ujjivan Small Finance Bank has 752 branches in 26 States and Union Territories of India. To find your nearest branch, visit the bank's website's 'Locate Us' section.
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