Union bank of India savings account

⋆ Interest Rate 9.99% ⋆

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      Why us?

      Rates as low as 9.99%*
      Loans Up to 30 Lacs
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      Union Bank of India savings account

      This is the table for minimum balance requirement with or without cheque book facility-

      Centers Without Cheque Book
      With Cheque Book 
      Metro 500 1000
      Urban 500 1000
      Semi-Urban 250 500
      Rural 100 250

      Union bank of India savings account

      About Union Bank of India saving account-

      Union Bank of India is one of the leading Banks of the country. Union Bank of India has its branches in rural as well as urban areas. It offers various schemes related to loans, Recurring deposits, and savings accounts. It facilitates user to avail the banking services.

      Union Bank of India offers services related to the savings account. The process of documentation is very simple which facilitates the user to open a savings account.

      Features of Union Bank of India savings account

      Features of SBGEN-

      • Any Resident Individual – Single Accounts, Two or more individuals in Joint Accounts, Illiterate Persons, Visually Impaired persons, Purdanasheen Ladies, Minors, Associations, Clubs, Societies, etc.
      • Interest is calculated on a daily product basis and will be credited on a quarterly basis in the months of April, July, October, and January every year.
      • Rate of interest up to 25Lacs and more than 25 lacs-3%p.a

      Features of UDSA-

      • Any Resident Individual can open and operate Union Digital Savings Account (UDSA) in his /her name. Joint Account or Joint mandate for Operation is not permitted.
      • No minimum balance requirement as an account can be opened with a Zero balance.
      • Cash Deposit Charges will be applicable for any cash deposit in the account.
      • Receipts through Digital Channel – Free and Unlimited.
      • Outward Remittances charges through Digital Channels like U-mobile, UPI, BHIM, Net Banking etc- No Charges via all Digital Platforms
      • Redeem Points for Every On-Line Transaction.

      Features of SBPEN-

      • Eligibility: All customers who are drawing pension through our Bank or intend to draw pension through our Banks are eligible to open a specially designed pension account under scheme code SBPEN.
      • Prompt Disbursal of pensions to the pensioners.
      • DA increases are given promptly.
      • Interest is calculated on a daily product basis and will be credited on a quarterly basis in the months of April, July, October, and January every year.
      • Rate of interest upto 25 lacs – 3.25% p.a. and more than 25 lacs 4% p.a.

      Saving account charges-

      Service / Product Fees & Charges
      Neft/RTGS inward Nil
      Neft outward
      Rs.3 to Rs.29 per transaction
      RTGS outward
      Rs.29 to Rs.63 per transaction
      Electronic Clearing Service
      Rs.4 per transaction
      Checkbook issuance
      Free up to 40 leaves. Rs.4 per leaf thereafter


      Account activation Free
      Statement of accounts Free
      A duplicate statement or passbook
      Rs.62 per folio, or Rs.1,507 for the maximum entries. Entries that are more than 1 year old will be charged at Rs.77 per folio, or Rs.7,533 for the maximum.
      Customer induced debit entries
      60 entries free per quarter. Rs.17 charged per entry thereafter
      SMS banking
      Rs.15 per quarter

      Products offered-

      Passbook and e-Statements
      Passbook is issued free of cost
      Free Accidental Insurance cover under debit card
      Cheque Book
      2 cheque books issued free per year
      Cash Withdrawal
      No limit on the number of cash withdrawals made through branch banking, Union Bank of India Debit Card, or Internet banking.
      Internet Banking
      The free facility of Internet banking with Self User Creation and Password Reset.

      There are various services offered by the Union Bank of India related to the savings account. It facilitates internet banking as it levies no charges on internet banking. you can withdraw the amount as there is no limit on it. It ensures customer satisfaction.

      Documents required –

      • Eligibility criteria- specified age limit, monthly income, Identity proof, PAN card, Aadhar card, address proof, income proof.
      1. Age limit- 21to 60 years
      2. Income certificate -issued from sub-divisional magistrate office
      3. Identity proof- Voter ID card, aadhar card, College ID card (for students)
      4. Monthly income proof 
      5. Form 16 of the latest year
      6. Income tax return
      7. Highest qualification proof 

      Frequently asked questions-

      ✅  what is the cost of a passbook for saving an account?

      Union Bank of India does not charge for passbooks.

      ✅ who can open a saving account in the Union Bank of India?

      A person who is a citizen of India and having the required documents can apply for a saving account.

      ✅ What is the general interest rate for saving accounts?

      It is lucrative. the interest rate is 3%.