- No Initial Funding requirement
- Free Physical, Email and Adhoc Statement Request
- Free SMS Alerts
- Provides safe and secured mode of routing cash flows
- Transactions can be customised to suit requirements of parties
- Open and operate multiple accounts for deals with waterfall mechanism
- Dedicated Escrow team to facilitate smooth operations
- Simplified documentation Online tracking of your escrow account
Click here to see Terms and Conditions.
For complete details on Fees and Charges, please Click here
Who can open an Escrow Bank Account?
- Partnership Firms/ LLP’s (Limited Liability Partnership)
- Private and Public Limited Companies
- Sole Proprietorships
- Societies, Trusts, Associates and Clubs
- Financial Institution Accounts
- Government Accounts, etc
- Lease Financing
- Home buying
- Monthly payments
- Renters and landlords
- Buying goods and services
- Special Purpose Vehicle (SPV) for lending or otherwise
How will the funds in Escrow be released ?
Funds managed under Escrow Services will only be released in accordance to the release terms listed in the escrow agreement with the customer.
Can’t we Open ESCROW Account of a firm which is availing CC/OD facility from any other Bank. Normally ESCROW accounts is opened for Lease Rental of a property against which Bank funds?
In case of borrowers where exposure of banking system is 50 crore or more, banks shall be required to put in place an Escrow mechanism. Accordingly, current account of such borrowers can only be opened/maintained by the escrow-managing bank. However, there is no restriction on opening of collection account by lending banks subject to the condition that funds will be remitted from these accounts to the said Escrow account at frequency agreed between the bank and the borrower, further the balances in such accounts shall not be used as margin for availing any non-funded based credit facilities. While there is no prohibition on amount or number of credits in a Collection account, debits in these accounts shall be limited to the purpose of remitting the proceeds to the said Escrow account. Non-lending banks shall not open any current account for such borrowers.
I can’t access my company’s Current Account. Please help.
Please visit your nearest Utkarsh Small Finance Bank branch or call 1800-123-9878, 24×7 (Except National Holidays)