Interested in financial products
Processing

United Bank of India Savings Bank Account

United Bank of India is a leading bank in India which was formed in 1950. The bank has since grown to include a Head Office, 35 Regional Offices and 174 branches across India. They strongly conform to the ideals of nationalization and design products that help customers belonging to every section of the society in their economic enterprise.

Savings Bank Accounts offered by United Bank of India

Union Bank Of India Savings Account

United Bank of India Savings Bank Account

This is a simple savings bank account offering all basic banking features of a savings bank account.

  • Can be opened individually or jointly and can be operated by either or survivor
  • It can also be opened by minors to be operated by the natural guardian. Minors, upon reaching the age of 13 can start operating the account by themselves
  • Can be opened by an illiterate person, along with a literate person
  • Blind persons can open this account
  • This account is also available for associations, clubs, societies and similar institutions
  • Interest is payable half-yearly in June & December on daily basis
  • Cheque book and passbook facility available
  • Offers instant credit of up to Rs.15000 against collection of outstation cheques
  • Life insurance benefit of up to Rs 1.25 lac for a nominal premium of Rs 17 per year under United Suraksha Scheme
  • ATM cum Debit card for all account holders
  • Safe custody of article facility, safety lockers facility
  • Customers can withdraw only up to Rs.2000/- through withdrawal slip through bearer & Rs. 20000/- by self. Illiterate customers may withdraw any amount without ceiling through withdrawal slip since cheque book facility is not allowed

Minimum balance requirements

With cheque book facility Metropolitan/Urban/Semi-urban/Rural branchesRs.500
Without cheque book facility – Rural BranchesRs. 50
Without cheque book facility - Metropolitan/Urban/Semi-urban branchesRs. 100

Pensioners, visually handicap, USP a/c, senior citizens, women operated by self or as guardian for minor, industrial/agricultural labourers, low income families, girl students under National incentive scheme for higher education, accounts opened for financial inclusion.

Zero

United Children Savings Account

Minors who have attained the age of 10 can open this account in their name and operate it individually. This encourages the habit of savings amongst children and also educates them about prudent banking.

  • Minimum initial deposit and the minimum required balance in the account are Rs.50 only
  • The account has to comply with all existing KYC Norms
  • The account shall also be conformed to introduction norms including independent verification of address
  • A colourful passbook shall be provided to all account holders
  • The account holders are also issued a colourful cheque book with 10 cheque leaves free of cost
  • Monthly provision of interest at the applicable interest rates
  • No overdrawing is permissible under the account

United Basic Savings Bank Account

This account is designed for low income groups or families in rural and urban areas. This customer segment includes people who are industrial and agricultural labourers and non-pensioner senior citizens who are unlikely to get a savings bank account due to the stipulation of minimum required balance. This account can be opened and operated with NIL minimum balance, thus giving the low income group a savings bank account with the basic banking functionalities.

  • Available in all branches of the bank
  • Can be opened by an individual or jointly by two or more individuals
  • It can also be opened by minors to be operated by the natural guardian. Minors, upon reaching the age of 13 can start operating the account by themselves
  • Can be opened by an illiterate person, along with a literate person
  • The account conforms to full KYC norms. In case the applicant is unable to produce any of the valid KYC documents, the account may be opened as per relaxed KYC norms on the sole discretion of the bank
  • No ATM cum Debit card is available for this account
  • No restriction on the number of deposits into the account
  • Maximum of 5 withdrawals per month, free of charge. Rs.5 charge for subsequent withdrawals in the same month
  • One free cheque book, with 10 cheque leaves, for every calendar year, subject to the condition that a minimum balance of Rs.250 shall be maintained
  • Accidental Insurance Cover under United Suraksha Yojana (USY) for a nominal premium
  • No service charge for accounts becoming in-operative or closure of accounts
  • Customers can migrate from this basic account to normal savings bank account by fulfilling the minimum balance requirement and full KYC norms

United Bonanza Savings Scheme

This account combines the liquidity benefits of a savings account with the higher interest advantage of an FD account. This account comes with an in-built arrangement of transferring specified balance over a specific limit into an FD account automatically for the desired period of time as chosen by the customer. FDs can be for a period between 6 months to 1 year as per the customers choice.

  • All eligible customers of a savings bank account are eligible to open this account
  • This account can be opened individually or jointly
  • Employees, ex-employees, spouses of deceased employees of United Bank of India and senior citizens are also eligible to open this account
  • The minimum balance requirement is Rs.10,000/-
  • If at any time, the balance falls below the minimum requirement of Rs.10,000/-, then funds from the FDs shall be transferred to the savings account
  • Comes with free cheque book
  • One DD/PO shall be issued free of charge for up to Rs.5000/-
  • Free ATM card for the first year of account opening
  • Transfer of FD created under the scheme shall be done free of charge

How to open a savings bank account with United Bank of India?

The applicant should approach the nearest branch to open an account. In order to open a savings bank account, the applicant must be introduced by an existing SB A/c holder or a Current Account holder, who has held an account with the bank satisfactorily for the past 6 months or more.

Documents required to open an account

  • Two passport size photographs
  • Pan Card or a signed declaration in form 60 or 61 as per I.T. Act.
  • Proof of address/residence - Driving license/ration card/voters identity card/passport/electricity bill etc

Value added services available for Savings Bank customers of United Bank of India

Savings bank account holders of United Bank of India are offered various digital services to manage their account.

Mobile/SMS Banking – Customers can register to avail Mobile banking or SMS based banking access to manage their account. Mobile banking can be carried out through the United mBanking App, USSD for SMS based mobile banking & WAP based mobile banking.

Internet Banking/Netbanking – Customers can register for Netbanking facilities for ease and convenience of various banking transactions from the comfort of their home or anywhere in the world. Netbanking allows customers to manage their account instantly 24x7. They are allowed to carry out the following banking transactions through Netbanking -

  • RTGS/NEFT/IMPS Fund transfers
  • Opening of Online Term Deposit accounts
  • Balance enquiry, Mini statement, cheque status enquiry, stop cheque requests
  • ATM & bank branch locator
  • Mobile recharge and movie ticket booking

United Bank of India Savings Bank Accounts FAQs

1. What is United mBank?

United mBank is the mobile banking facility launched by United Bank of India for the convenience of its savings bank account customers. It allows customers to manage their bank account on mobile and perform various banking and payment transactions.

2. What is the minimum balance to open a savings bank account with United Bank of India?

Savings bank accounts can be opened with a minimum balance of Rs.500, for accounts in Metropolitan/Urban/Semi-urban/Rural branches, with cheque book facility. Basic savings bank accounts are also offered with NIL minimum balance requirement. Customers should contact the nearest branch to learn more on the minimum balance requirement for each account.

3. What are the interest rates offered on United Bank of India savings bank accounts?

Savings bank deposits of up to Rs.50 lakhs receive an interest rate of 3.50% p.a and deposits of more than Rs.50 lakhs are given an interest rate of 4%.

4. Is Netbanking services charged?

Using of Netbanking facilities is free of charge. However, there will be charges for the services availed, like NEFT, RTGS, issue of DD, etc.

5. Will there be charges if the balance in the account falls below the minimum required amount?

Yes, in case of non-maintenance of the required minimum balance, there will be a charge of Rs.43 per instance (for both with and without cheque book accounts)

6. What is the information required for NEFT remittances?

In order to carry out a NEFT remittance, the customer shall require the beneficiary name, account number and the name and IFSC code of the beneficiary’s bank branch.

×Thank you! Your comment will be reviewed and posted shortly.

Write a review

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.