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Platinum Trust Savings Account

The Platinum Trust Savings Account offers you the best-in-class solutions, custom designed for large scale trusts / institutions that have multiple banking and financial requirements. Avail discounts on various products and services that are relevant for you, enjoy free unlimited banking transactions and access our vast network of branches and ATMs. Moreover, we offer an FCRA account facility, digital banking, collection and payment services, salary disbursement solutions, general insurance and an entire suite of financial solutions to meet your needs. The institution's trustees can also enjoy complimentary membership to our premium Burgundy program.

Features & Benefits
Eligibility & Documentation
Fees & Charges
Important Links

Features & Benefits

Unlimited free banking transactions

RTGS/ NEFT transactions at branches and online

Special privileges

Complimentary membership to our Burgundy program for the trustees*

Preferential pricing*

Free Lockers and safe custody facility for the trust/ institution

Anytime, anywhere access to your account

Access our vast network of branches and ATMs

Collection and payment services

Avail EasyPay solution, EDC machines and payment gateway for collections

Other services

Utilisation accounts of FCRA donations

Minimum relationship criteria

Initial funding not required to open account

*Conditions apply. All loans and credit facilities sanctioned at the discretion of Axis Bank Ltd.

Eligibility Documentation

Eligibility for Platinum Trust Savings Account

Entities eligible for maintaining Trust/NGO/ Institutional savings account-

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)
Section 25 companies (as per Companies Act, 1956) or Section 8 companies (as per Companies Act,2013)
Institutions/entities whose entire income is exempt from payment of income-tax under 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

Documentation for Platinum Trust Savings Account

General Documentation for opening Savings Account of Trust/NGO

Registration certificate of trust / society / 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

NGO Darpan ID is now mandatory for NPOs.

The Government of India had made the following rules further to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005 and notification was issued on March 7th 2023 and based on the same RBI amended the Master Direction - Know Your Customer (KYC) Direction, 2016 dated May 04 2023 as below:

“REs shall ensure that in case of customers who are non-profit organisations, the details of such customers are registered on the DARPAN Portal of NITI Aayog. If the same are not registered, RE shall register the details on the DARPAN Portal. REs shall also maintain such registration records for a period of five years after the business relationship between the customer and the RE has ended or the account has been closed, whichever is later
Non-profit organization” means any entity or organisation, constituted for religious or charitable purposes referred to in clause (15) of section 2 of the Income-tax Act, 1961 (43 of 1961), that is registered as a trust or a society under the Societies Registration Act, 1860 (21 of 1860) or any similar state legislation or a company registered under the section 8 of the Companies Act, 2013 (18 of 2013);”

Fees & Charges

View the applicable fees and charges for "Platinum Trust Saving Account"

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Platinum Trust Savings Account

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Related Products

Silver Trust Savings Account

Convenience of services

Variety of facilities
Vast branch & ATM network, Corporate Internet banking, collection and payments
Free unlimited banking transactions
Free transactions for NEFT, RTGS, Cash, DD & PO issuance, free chequebooks

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Gold Trust Savings Account

Preferential Pricing and Privileges
Discounted facilities available on various products such as lockers, loans, collection & payment services, Priority banking account for individual trustees
Free unlimited banking transactions
Free transactions for NEFT, RTGS, Cash, DD & PO issuance, free chequebooks and ATM transactions

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FCRA Account

Regulatory account
Foreign Contribution Regulation Act or FCRA is a law of Govt. of India which regulates receipt of foreign contributions / donations received in India. Entities obtaining FCRA registration from Ministry of Home Affairs (MHA) can open a Savings Bank account for the purpose of such contributions.

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