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.
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
Login view access for all accounts
Specialized team for quick implantation in a smooth and efficient manner
Comfort to all the parties with added security
FAQs
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