By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Investment SimplifiedInvestment Simplified
  • Tax
    • Popular Searches
    • What is Form 16?
    • Trademark Registration Fees
    • TDS Full Form
    • Ad Valorem Tax
    • How to Save Tax?
  • Aadhaar
    • Popular Searches
    • How to Book Aadhaar Card Appointment?
    • E-Aadhaar And It’s Benefits
    • What is a Masked Aadhaar?
    • ESign Aadhaar: A Complete Guide
    • Aadhaar Card Address Change
  • EPF
    • Popular Searches
    • EPFO Member Portal – Login, Registration
    • EPFO Establishment Search
    • Guide to Your EPFO Member Login
    • EPF Interest Rate
    • What Is UAN Activation?
  • PAN Card
    • Popular Searches
    • What is a PAN Card
    • NSDL PAN Card
    • UTI PAN
    • e-PAN Card
    • PAN Card Apply
  • Banking
    • Banks
      • Popular Searches
      • State Bank of India (SBI)
      • Bank of Baroda (BOB)
      • Canara Bank
      • Indian Bank
      • Bank of India (BOI)
    • Bank Timings
      • Popular Searches
      • Bank of Baroda Timings
      • IDBI Bank Timings
      • Union Bank Timings
      • Karnataka Bank Timings
      • Central Bank of India Timings
      • Canara Bank Timings
    • Mini Statement
      • Popular Searches
      • Axis Bank Mini Statement
      • HDFC Mini Statement
      • Bank of Baroda Mini Statement
      • Union Bank of India Mini Statement
      • SBI Mini Statement
    • Balance Enquiry
      • Popular Searches
      • Canara Bank Balance Enquiry by SMS, Missed Call, Netbanking
      • SBI Balance Enquiry
      • Union Bank of India Balance Enquiry Number
      • BOB Balance Enquiry
      • PNB Balance Check Number – Enquiry by SMS, Missed Call, Netbanking
    • NEFT
      • Popular Searches
      • HDFC NEFT
      • SBI NEFT
      • Axis Bank NEFT
      • ICICI Bank NEFT
      • Canara Bank NEFT
    • Net Banking
      • Popular Searches
      • HDFC Bank Net Banking
      • SBI Net Banking
      • ICICI Net Banking
      • Axis Bank Net Banking
      • IOB Net Banking
    • Customer Care
      • Popular Searches
      • Central Bank of India Customer Care Number
      • Bank of Baroda Customer Care – Missed Call and Toll Free Number
      • Bank of Maharashtra Customer Care
      • Punjab National Bank Customer Care Number – PNB Grievance Redressal
      • IOB Customer Care Number
    • UPI
      • Popular Searches
      • BHIM
      • Google Pay
      • BHIM SBI Pay
      • Union Bank UPI
      • HDFC UPI
    • Debit Card
      • Popular Searches
      • SBI Debit Card
      • HDFC Debit Card
      • PNB Debit Card
      • Axis Bank Debit Card
      • Kotak Debit Card
    • RTGS
      • Popular Searches
      • RTGS Process
      • SBI RTGS
      • ICICI Bank RTGS Form
      • Axis Bank RTGS Form
      • HDFC RTGS Form
    • IMPS
      • Popular Searches
      • IMPS Limit
      • IMPS vs. NEFT
      • IMPS vs. NEFT vs. RTGS
      • MMID
    • Cheque
      • Popular Searches
      • Types of Cheques
      • Blank Cheque
      • Cancelled Cheque – How to Write a Cancelled Cheque?
      • Account Payee Cheque
      • Banker’s Cheque
    • Bank Holidays
      • Popular Searches
      • Bank Holidays in June 2023
      • Bank Holidays in July 2023
      • Bank Holidays in August 2023
      • Bank Holidays in September 2023
      • Bank Holidays in October 2023
    • Mobile Banking
      • Popular Searches
      • SBI Mobile Banking
      • HDFC Mobile Banking
      • Bank of Baroda Mobile Banking
      • Indian Bank Mobile Banking
      • Canara Bank Mobile Banking
    • Passbook
      • Popular Searches
      • SBI Passbook
      • Union Bank Passbook
      • BOB Passbook
      • HDFC Passbook
      • Axis Bank Passbook
    • Demand Draft
      • Popular Searches
      • Demand Draft Validity
      • Demand Draft Form
  • Savings Account
    • Popular Searches
    • What is a savings account
    • SBI Savings Account
    • Bank of Baroda Saving Account
    • Bank of Maharashtra Saving Account
    • Central Bank of India Saving Account
  • Insurance
    • General Insurance
    • Car Insurance
    • Travel Insurance
    • Pension & Retirement
  • About Us
  • Contact
Reading: Union Bank Saving Account
Share
Investment SimplifiedInvestment Simplified
Search
  • Tax
    • Popular Searches
    • What is Form 16?
    • Trademark Registration Fees
    • TDS Full Form
    • Ad Valorem Tax
    • How to Save Tax?
  • Aadhaar
    • Popular Searches
    • How to Book Aadhaar Card Appointment?
    • E-Aadhaar And It’s Benefits
    • What is a Masked Aadhaar?
    • ESign Aadhaar: A Complete Guide
    • Aadhaar Card Address Change
  • EPF
    • Popular Searches
    • EPFO Member Portal – Login, Registration
    • EPFO Establishment Search
    • Guide to Your EPFO Member Login
    • EPF Interest Rate
    • What Is UAN Activation?
  • PAN Card
    • Popular Searches
    • What is a PAN Card
    • NSDL PAN Card
    • UTI PAN
    • e-PAN Card
    • PAN Card Apply
  • Banking
    • Banks
      • Popular Searches
      • State Bank of India (SBI)
      • Bank of Baroda (BOB)
      • Canara Bank
      • Indian Bank
      • Bank of India (BOI)
    • Bank Timings
      • Popular Searches
      • Bank of Baroda Timings
      • IDBI Bank Timings
      • Union Bank Timings
      • Karnataka Bank Timings
      • Central Bank of India Timings
      • Canara Bank Timings
    • Mini Statement
      • Popular Searches
      • Axis Bank Mini Statement
      • HDFC Mini Statement
      • Bank of Baroda Mini Statement
      • Union Bank of India Mini Statement
      • SBI Mini Statement
    • Balance Enquiry
      • Popular Searches
      • Canara Bank Balance Enquiry by SMS, Missed Call, Netbanking
      • SBI Balance Enquiry
      • Union Bank of India Balance Enquiry Number
      • BOB Balance Enquiry
      • PNB Balance Check Number – Enquiry by SMS, Missed Call, Netbanking
    • NEFT
      • Popular Searches
      • HDFC NEFT
      • SBI NEFT
      • Axis Bank NEFT
      • ICICI Bank NEFT
      • Canara Bank NEFT
    • Net Banking
      • Popular Searches
      • HDFC Bank Net Banking
      • SBI Net Banking
      • ICICI Net Banking
      • Axis Bank Net Banking
      • IOB Net Banking
    • Customer Care
      • Popular Searches
      • Central Bank of India Customer Care Number
      • Bank of Baroda Customer Care – Missed Call and Toll Free Number
      • Bank of Maharashtra Customer Care
      • Punjab National Bank Customer Care Number – PNB Grievance Redressal
      • IOB Customer Care Number
    • UPI
      • Popular Searches
      • BHIM
      • Google Pay
      • BHIM SBI Pay
      • Union Bank UPI
      • HDFC UPI
    • Debit Card
      • Popular Searches
      • SBI Debit Card
      • HDFC Debit Card
      • PNB Debit Card
      • Axis Bank Debit Card
      • Kotak Debit Card
    • RTGS
      • Popular Searches
      • RTGS Process
      • SBI RTGS
      • ICICI Bank RTGS Form
      • Axis Bank RTGS Form
      • HDFC RTGS Form
    • IMPS
      • Popular Searches
      • IMPS Limit
      • IMPS vs. NEFT
      • IMPS vs. NEFT vs. RTGS
      • MMID
    • Cheque
      • Popular Searches
      • Types of Cheques
      • Blank Cheque
      • Cancelled Cheque – How to Write a Cancelled Cheque?
      • Account Payee Cheque
      • Banker’s Cheque
    • Bank Holidays
      • Popular Searches
      • Bank Holidays in June 2023
      • Bank Holidays in July 2023
      • Bank Holidays in August 2023
      • Bank Holidays in September 2023
      • Bank Holidays in October 2023
    • Mobile Banking
      • Popular Searches
      • SBI Mobile Banking
      • HDFC Mobile Banking
      • Bank of Baroda Mobile Banking
      • Indian Bank Mobile Banking
      • Canara Bank Mobile Banking
    • Passbook
      • Popular Searches
      • SBI Passbook
      • Union Bank Passbook
      • BOB Passbook
      • HDFC Passbook
      • Axis Bank Passbook
    • Demand Draft
      • Popular Searches
      • Demand Draft Validity
      • Demand Draft Form
  • Savings Account
    • Popular Searches
    • What is a savings account
    • SBI Savings Account
    • Bank of Baroda Saving Account
    • Bank of Maharashtra Saving Account
    • Central Bank of India Saving Account
  • Insurance
    • General Insurance
    • Car Insurance
    • Travel Insurance
    • Pension & Retirement
  • About Us
  • Contact
Investment Simplified > Savings Account > Union Bank Saving Account
Savings Account

Union Bank Saving Account

Monika Mohan
Last updated: 2023/05/22 at 11:38 AM
Monika Mohan Published May 21, 2023 6 Min Read
Share
SHARE
Union Bank Savings Account Interest Rate, 2023How to Open Union Bank Savings Account Online?Documents Required to Open a Union Bank Savings AccountTypes of Union Bank of India Savings AccountsHow to Transfer Funds Online via Union Bank of India Savings AccountUnion Bank of India Customer Care NumberUnion Bank Savings Account: FAQs

Union Bank of India, or commonly known as Union Bank, offers various types of savings accounts for minors, students, pensioners and high-net worth individuals to cater to their specific needs. There are specific accounts as well for those who do not wish to maintain a minimum balance, i.e. who prefer zero balance Union Bank savings account.

All these accounts come with the below-mentioned Union Bank savings account interest rates:

Union Bank Savings Account Interest Rate, 2023

BalanceRate of Interest (p.a.)
Up to Rs 50 lakhs2.75%
Above Rs 50 lakhs to Rs 100 crores2.90%

Disclaimer: The above-mentioned Union Bank of India savings account interest rates are effective from 16th June 2022 and are subject to change. For interest rates on higher bank balance, please visit the bank official website.

How to Open Union Bank Savings Account Online?

To open a savings account in the Union Bank of India, you must follow the instructions given here:

Step 1: Go to Union Bank official website here: https://www.unionbankofindia.co.in/english/saving-account.aspx

Step 2: Click on ‘Apply Now’.

Step 3: Collect the documents mentioned in the pop-up box.

You’ll be redirected to the Online Account Opening webpage.

Step 4: Click on ‘Savings Account’ and provide your Aadhaar Card (mandatory).

Step 5: Provide all the details asked in the online savings account opening form such as your personal details, address details and nominee details.

Step 6: Here, you need to upload the scanned images of the documents required to support your online application.

Follow the steps as they appear on your device’s screen to complete the Union Bank savings account online account opening application.

Documents Required to Open a Union Bank Savings Account

The following documents are needed when opening a savings account in the Union Bank of India:

  • Aadhaar Card (mandatory for online application)
  • Mobile linked to Aadhaar
  • PAN Card
  • Recent photograph
  • ID Proof (Aadhaar, PAN Card, Driver’s License etc.)
  • Address Proof (Passport, Aadhaar, Voter’s Card etc.)

(scanned images required in case of online application – size 20 KB to 100 KB)

Types of Union Bank of India Savings Accounts

The following are the different types of savings account that are offered by the Union Bank of India to cater to its large customer-base:

Union Savings Bank Account (SBGEN)

  • Individuals, HUFs, Clubs, Associations, Committees, Societies, Schools, Trusts, Executors, Administrators etc. can open this account
  • Quarterly average balance:
    • With Cheque Book Facility
      • Rs 250/ Rs 500/ Rs 1000
    • Without Cheque Book Facility
      • Rs 100/ Rs 250/ Rs 500
  • Union Bank Classic Debit card offered – free of issuance charges & AMC*
  • ATM cash withdrawal limit – Rs 25,000 per day
  • POS limit – Rs 50,000 per day
  • Free Personal Accident Insurance (Death) cover of Rs 2 lakhs (with debit card)

*Annual Maintenance Charges

Union Muskaan Savings Bank Account for Minors

  • Minor (below 18 years) of any age under custody of parent/guardian may open this account
  • To be operated by parent/guardian
  • Quarterly average balance – Rs 1,000
  • Union Bank Platinum debit card issued free of issuance charges & AMC
  • ATM cash withdrawal limit – Rs 5,000 per day
  • POS limit – Rs 25,000 per day
  • Mobile & Internet Banking – with viewing rights only

Union Savings Bank Account for Pensioners

  • Individual pensioner drawing regular pension may open this savings account
  • No minimum balance required to maintain
  • Union Bank of India Classic debit card issued (free of issuance charges and AMC)
  • ATM cash withdrawal limit – Rs 25,000 per day
  • POS limit – Rs 50,000 per day
  • Union Bank SMS Banking – free of charges

Union Savings Bank Account for Students (SBZER)

  • Students between 11 – 25 years pursuing regular courses may open this savings account
  • Union Bank Classic debit card issued free of charges
  • ATM cash withdrawal limit – Rs 25,000 per day
  • POS limit – Rs 50,000 per day
  • Cheque Book NOT provided
  • Passbook NOT provided

Union Bank SBHNI – for High Net Worth Individuals

  • Quarterly average balance – Rs 10 lakhs
  • Union Bank RuPay Select or VISA Signature – complementary
  • ATM cash withdrawal limit – Rs 1 lakh per day
  • POS limit – Rs 3 lakhs per day
  • Free Personal Accident cover – Up to Rs 50 lakhs
  • Free Air Accident Insurance Cover – Rs 100 lakhs
  • Add-on debit card to spouse
  • Zero charges on opening DEMAT account

Union Basic Saving Bank Deposits Account-Small Accounts(BSBDS) and Union Basic Saving Bank Deposits Account (BSBDA) are the basic accounts that are offered to those who do not have proper documentation and also do not have any bank account in any bank whatsoever.

Apart from these, Union Bank also offers salary account under the name of Union Super Salary Account.

How to Transfer Funds Online via Union Bank of India Savings Account

To transfer money from your Union Bank of India savings account online, follow these steps:

  • Log into your Union Bank netbanking account
  • Find the Payments & Transfers option and click on it
  • Add Beneficiary
  • Select the mode (NEFT, RTGS, IMPS)
  • Enter details (your account, beneficiary account, amount and remarks)
  • Generate OTP to validate
  • Submit to complete the process

Other options to transfer funds include via cheque and demand draft. Please check the Union Bank timings before heading to your branch for deposit of these cheques and/or DDs.

Union Bank of India Customer Care Number

The following are the various customer care numbers via which you can contact the Union Bank customer support:

  • 1800 222 243 / 1800 425 15 15
  • 1800 208 2244 / 1800 22 22 44

Union Bank Savings Account: FAQs

What is the interest rate on Union Bank of India savings account?

For bank balance up to Rs 50 lakhs, you will be 2.75% of interest on your Union Bank savings account.

How is interest credited in Union Bank savings account?

Interest is credited on quarterly basis in all the Union Bank of India savings accounts.

Is Aadhaar mandatory for opening Union Bank savings account online?

Yes. If you’re opening the Union Bank of India savings account online, you will be mandatorily required to submit your Aadhaar card linked to your PAN and mobile number. If going offline, the compulsory clause is not applicable.

Share This Article
Facebook Twitter Whatsapp Whatsapp Email Copy Link Print
By Monika Mohan
Monika Mohan is a writing enthusiast who has luckily turned her passion into profession. For the greens, she has an established foot in the personal finance sector and likes to put forth complex topics in an easy-to-understand manner, minus the jargons. Outside the penny lane, it’s all about poetry, mountains and single-malts.
Previous Article UCO Bank Savings Account UCO Bank Savings Account
Next Article Yes Bank Savings Account YES Bank Savings Account
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

You Might also Like

Know CGST Full Form and All about CGST Here

GST was introduced in India with full effect on 1st July 2017.…

Read More
Retirement planning

What is Retirement Planning: 3 Steps to Start a Conversation Around

A wise man once said – retirement is not the end of…

Read More
Types of Debit Cards

Types of Debit Cards

Debit cards have become one of the most popular modes of payment…

Read More
India Post Payment Bank Mobile Banking

India Post Payment Bank Mobile Banking

India Post Payment Bank (IPPB) Mobile Banking is a service provided by…

Read More
IS logo 250px

We are here to make your investment journey simple by delivering content on financial topics in plain English.

Categories

  • Tax
  • Cryptocurrency
  • Aadhaar
  • Mutual Funds
  • Banking
  • General Insurance
  • Pension & Retirement
  • Car Insurance
  • Travel Insurance

Quick Link

  • About Us
  • Contact
  • Terms & Conditions
  • Privacy Policy
Social Media
Facebook
YouTube
Instagram
Twitter
Linkedin

We are here to make your investment journey simple by delivering content on financial topics in plain English.

Categories

  • Tax
  • Cryptocurrency
  • Aadhar
  • Mutual Funds
  • General Insurance
  • Pension & Retirement
  • Car Insurance
  • Travel Insurance

Quick Link

  • About Us
  • Contact
  • Terms & Conditions
  • Privacy Policy

Social Media

Copyright © 2023 Investment Simplified. All rights reserved.

Welcome Back!

Sign in to your account

Lost your password?