Savings Account Hindu Undivided Family (HUF) Savings Account A Hindu Undivided Family (HUF) is a legally recognized entity that lets you manage all your family finances seamlessly (income, savings, assets and investments). Seamless Account opening Seamless Account opening View HUF and Savings Accounts together on iMobile & Net Banking View HUF and Savings Accounts together on iMobile & Net Banking Link with Family Banking for consideration of programme eligibility criteria Link with Family Banking for consideration of programme eligibility criteria Integrated with Demat and Trading accounts Integrated with Demat and Trading accounts Benefits of HUF Savings Account Separate Taxpayer Hindu Undivided Family is treated as an independent taxpayer Separate Taxpayer Hindu Undivided Family is treated as an independent taxpayer Tax Deductions Deductions can be claimed under Section 80C, 80D, 80G and other applicable provisions of Income Tax Act, 1961 (the Act) Deductions can be claimed under Section 80C, 80D, 80G and other applicable provisions of Income Tax Act, 1961 (the Act) Collective Wealth management Family members can pool resources for collective management and better investment planning Collective Wealth management Family members can pool resources for collective management and better investment planning Exemptions for HUF Property Income Income from inherited ancestral property is exempt under Section 10(2) of the Act Exemptions for HUF Property Income Income from inherited ancestral property is exempt under Section 10(2) of the Act Exemption for Gifts Exemption of taxes for gifts received by HUF from members Exemption for Gifts Exemption of taxes for gifts received by HUF from members Succession HUF enjoys perpetual succession even after death of Karta HUF enjoys perpetual succession even after death of Karta Choose a programme designed to meet your needs Private Banking and Family Office save Relationship team for your financial needs more Explore Close More Info Private Banking and Family Office Relationship Team for your financial needs Client focused investment solutions across all asset classes validated through Group Investment Council Family Banking: Extend benefits that you enjoy, to your family Explore Private Banking and Family Office Relationship team for your financial needs Private Banking and Family Office Relationship Team for your financial needs Client focused investment solutions across all asset classes validated through Group Investment Council Family Banking: Extend benefits that you enjoy, to your family Wealth Management save Personalised Solutions | Personalised Solutions more Explore Close More Info Wealth Management Dedicated relationship team and priority assistance Diversified range of investment options that balance growth and safety Family Banking: Extend benefits that you enjoy, to your family Explore Wealth Management Personalised Solutions | Personalised Solutions Wealth Management Dedicated relationship team and priority assistance Diversified range of investment options that balance growth and safety Family Banking: Extend benefits that you enjoy, to your family Select Banking save Preferential Offerings on Loans | Preferential Offerings on Loans more Explore Close More Info Select Banking Domestic lounge access with your Debit Card Preferential offerings on Demat and Loan processing fees Preferential offerings on Loans: Extend benefits to your family members Explore Preferential Offerings on Loans | Preferential Offerings on Loans Domestic lounge access with your Debit Card Preferential offerings on Demat and Loan processing fees Preferential offerings on Loans: Extend benefits to your family members Private Banking and Family Office Relationship team for your financial needs Private Banking and Family Office

Relationship Team for your financial needs Client focused investment solutions across all asset classes validated through Group Investment Council Family Banking: Extend benefits that you enjoy, to your family Digital Banking Solutions View balances and transactions across all bank accounts with iFinance View balances and transactions across all bank accounts with iFinance Consolidated view of Mutual Fund investments with Mutual Fund One-view Consolidated view of Mutual Fund investments with Mutual Fund One-view Single view of FDs, Mutual Funds, Stocks, & Government schemes Single view of FDs, Mutual Funds, Stocks, & Government schemes Quick payments via UPI, scan to pay, pay to contact, bill payments and more Quick payments via UPI, scan to pay, pay to contact, bill payments and more Track and manage all your finances anytime, anywhere Track and manage all your finances anytime, anywhere Set transaction limits for an added level of security Set transaction limits for an added level of security Earn up to 12X reward points on flights, hotels, shopping and more Earn up to 12X reward points on flights, hotels, shopping and more Documents Required to Open HUF Account KYC documents of Karta (Identity and Address proof) Accounts opened from August 01, 2025 Savings Account, Select Banking, Wealth Management, Private Banking, Pensioners (Below 60 years) and Minors Savings Account for Senior Citizen and Pensioners (60 years & above) Savings Account for Students Accounts opened till July 31, 2025 Click here to view the service charges applicable for accounts opened till July 31, 2025 Also applicable for Savings Account integrated with Demat & Trading Account (3-in-1 Account) What is HUF Bank Account? An HUF Bank Account is a Savings or Current Account opened in the name of the HUF, managed by the Karta (head of the family). How is an HUF created? An HUF is automatically created at the time of marriage for Hindus. To be legally recognised, a deed is drafted declaring the HUF's formation and listing its members. How many people are required to constitute an HUF? The Karta along with a coparcener* or a member are required to form an HUF (minimum 2 people). *Coparcener is a term for a person who has the right to inherit ancestral property by birth in a Hindu Undivided Family. Who is the Karta of an HUF? The Karta is the eldest male member of the family who manages the HUF's affairs. If no male member is available, the eldest female member can become the Karta. Additionally, married daughter and minor can also be Karta. Can an HUF invest in financial instruments? Yes, an HUF can invest in Mutual Funds , Stocks, Fixed Deposits and other financial instruments. Can an HUF take a loan? Yes, an HUF can apply for loans and credit facilities using its collective assets and income. Can an HUF pay remuneration to its members for services rendered? Yes, an HUF can pay remuneration to its members for services provided, such as managing the business etc. What are the tax benefits of an HUF? An HUF is taxed as a separate entity, benefiting from its own tax slabs, exemptions and deductions under sections 80C and 80D. What is the tax exemption limit for gifts received by an HUF? Gifts received from non-relatives are exempt from tax, subject to certain limits. If the value exceeds this limit, the entire amount is taxable. Is a cheque book issued after opening an HUF Savings Account? Yes, a cheque book is issued in the name of the HUF. Is a Debit Card issued on opening an HUF Savings Account? Yes, a Debit Card is issued in the name of the Karta after opening the HUF Savings Account. We value your feedback!