Escrow Current Account

At Ujjivan Small Finance Bank, we always ensure you get the best of everything. A new addition to the list is – Escrow Current Account which can be used for facilitating variety of transactions including-

Escrow for Real Estate/RERA

Escrow for Funding based on Rental Yields / LRD

Escrow for revenue sharing

Milestone Escrow

Escrow for Mergers and Acquisitions

Escrow for employee compensation

Escrow for legal settlements

Escrow for banking correspondents

Escrow for vendor financing

Features include

NIL cost of account opening and no requirement of maintaining any balances

View option and statement download option for net banking users

Monthly statements

The value proposition includes

Specialized team for quick implantation in a smooth and efficient manner

Comfort to all the parties with added security

FAQs

To view the list of documents required for opening a Current Account with Ujjivan SFB, please visit- https://www.ujjivansfb.bank.in/current-account-document. The type of documentation depends on your business entity type. Additionally, dependent on the type of Escrow Account required, you need to sign scenario specific agreement.

For closure of Escrow Account, you may submit formal request under the signature of the authorized signatory(ies) at the branch where the Escrow Account is maintained. Unused cheque leaves need to be returned. This is however subject to compliance of other formalities, if any, depending on the entity’s constitution or the type of Escrow Account or the applicable provision of law.

No, Debit cards are not allowed for Escrow Current Account.

There is no requirement of MAB for Escrow Account.

You may avail internet banking facility only for view access and keep a track of all transactions done in the Escrow Account

For more details, refer the TnC