Institutional Business
Non Profit Organisation’s (Trusts, Associations, Societies, Clubs) & Government bodies
ESAF Small Finance Bank offers products and services developed to suit the needs of Trusts, Associations, Societies, Clubs, Educational Institutions, Non-Government Organisations (NGOs), and Companies governed by the Companies Act 1956/2013, which have been licensed by the Central Government under Section 25/Section 8 of the said Act or under the corresponding provision in the Indian Companies Act 1913.
These accounts give you access to our vast network and various services such as collection and payment facilities, salary accounts for the employees of institutions, DD/PO/NEFT/RTGS/cash transactions, accounts for Government bodies/NGOs, and online facilities.
Our extensive network of branches and dedicated branch managers will assist you with a variety of products and services to meet your financial strategies. We provide one of the best savings deposit rates in the industry with comprehensive and convenient banking solutions.
Segments
- Charitable Institutions
- Religious Institutions
- Education Institutions
- NGO’s
- Health Care Institutions, Hospitals
- Societies, Clubs, Associations, AOP, BOI, Resident Welfare Associations
- Co-Operative Societies / Banks, Housing Co-operative Societies
- Retirement Benefits- PF, Gratuity, Superannuation Trusts
- Defense Institutions
- Judiciary
- Government Bodies / Departments
- Corporate Social Responsibility Trusts
Product Features:
- Earn up to 8% interest p.a. on your savings account balance
- Link:
- Monthly Interest payout
- No commitment: Zero Monthly Average Balance Savings Account
- Payment and Collection solutions offered as part of product proposition
- Bundled offering of Payment Gateway, POS terminals, and QR Codes
- Unlimited DD Issuance
- Unlimited funds transfer through NEFT/RTGS/IMPS
- Physical Account statement (frequency – Daily /Weekly/ Monthly) as per customer request
- Payable at Par cheques
- Primary Co-operative Credit Society 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 a 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/Sec8 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) below and whose entire income is exempt from payment of Income-tax under the Income-Tax Act, 1961.
- Government departments/bodies depending upon budgetary allocations for performance of their functions/ Municipal Corporations or Municipal Committees/ Panchayat Samitis/ State Housing Boards/ Water and Sewerage/Drainage Boards/State Textbook Publishing Corporations/ Societies/Metropolitan Development Authority / State/ District Level Housing Co-operative Societies, etc. or any political party or any trading/business or professional entity
The Savings Account can be opened by the institutions as mentioned above.
Institutions not falling under the above list are offered Current Accounts.
You can choose from four variants based on the volume and complexity of your banking transactions- Basic, Classic, Premium and Diamond Current Accounts.
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Value-added banking solutions to cater to all needs of Trusts, Associations, Societies, Clubs, Educational Institutions, Non-Government Organisations (NGOs), Section 8/25 Companies and Hospitals.
- Solutions for payments, collections & reconciliation processes
- Corporate Internet Banking with fund transfer options.
- Payment gateway solutions to enable your donors/ payees to pay on your website
- Collection through QR with Sound box, POS, Payment Gateway to enable your donors/ payees to make payments at your premises and online mode
- Overdraft against fixed deposits
- Financial Literacy Programmes
- Dedicated managers to help understand all your banking needs
Select the type of account that best fits your requirements and experience our best-in-class banking services.
Schedule of Charges and features of Retail Institutions Savings Account- SBTASC
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Schedule of Charges and features of Current Accounts- Basic, Classic, Premium and Diamond (link) / TASC Current Accounts with zero AQB
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