Axis Bank Trust/NGO Savings Account
Axis Bank Trust/NGO Savings Account is a scheme started by Axis Bank for those who spend their time taking care of the underprivileged. It provides banking solutions for those relevant organizations like Trusts, NGOs, Associations and Government bodies.
Axis Bank Trust/NGO Savings Account features:
A monthly minimum balance of Rs 25,000 is required for opening an Axis Bank Trust/NGO Savings Account.
Cheque book facility is also provided to the account holder.
One can transact and deposit from any of the Axis Bank branches and ATMs across India.
Free Payment orders and DD facilities are available for payments made to a third party.
Axis Bank Trust/NGO Savings Account allows its subscribers to collect cheques for free even when they are out of station.
A monthly statement based on the transactions made is sent to the subscriber in the form of e-statements and paper statements.
With the help of a network of area offices and extension counters all over the country laid by Axis Bank, the subscriber can collect sponsorships and aids through it. On the other hand, Axis Bank's net banking portal iConnect will help the subscriber in keeping a track on their account details whenever needed to be accessed.
For all the transactions made in a month, it will provide with a detailed MIS of every transaction. It will allow the subscriber (organization/NGO) to provide receipts to the donor.
Axis Bank's Financial Advisory Desk is organized to advice the subscribers on the investments made.
The Free Demat Account which will be charged as per NSDL is provided to the subscribers in the NGO.
It allows donations to be transitioned from out of India under the Foreign Contribution Regulation Act.
Fees and Additional Charges:
There will be no service charges applied if the account holder manages to maintain the minimum monthly balance of Rs 25,000.
The cash transaction charges vary beyond the free limit in metro cities. As Rs 5 is charged per Rs 100 or Rs 350, depending on whichever is less.
The cash transaction charges vary beyond the free limit in semi-urban or rural branches. As Rs 5 is charged per Rs 100 or Rs 250, depending on whichever is less.