Union Bank of India Account Opening Form, UBI Minimum Balance, Docs & Charges

Union Bank of India Account Opening Online | Union Bank of India Account Opening Form | UBI Minimum Balance | Types of Union Bank Of India Account

Individuals, associations, groups, clubs, and other entities with a permanent address in India can open a savings account with the Union Bank of India. The bank offers competitive interest rates as well as a slew of other perks, such as online banking. It also provides students who open such accounts with a zero-balance option. The article will tell you more about the Union Bank of India Account Opening

Union Bank of India Account Opening
  • Up to Rs.25 lakh in savings deposits: 3.00 percent p.a.
  • Savings accounts with a balance of more than Rs.25 lakh get a rate of 3.00 percent per annum.
  • Depending on the account type, a minimum balance of Rs.1,000 is required.

Minimum Balance Requirement for Union Bank of India Account Opening

  • Basic Savings Bank Deposit Account – There is no minimum balance requirement for a basic savings bank deposit account.
  • Regular Savings Bank Account
CentersWith Cheque bookWithout Cheque book
Metro1000500
Urban1000500
Semi-urban500250
Rural250100
Pensioners25020

Union Bank Balance Check Number

Different Types of Union Bank Savings Accounts

The different types of Union Bank Savings Accounts are as follows:

Basic Savings Account in a Bank

  • This is a simple savings account that does not require the account holder to keep a minimum balance.
  • Cash deposit, cash withdrawal, credit / receipt of monies via electronic payment channels or by checks are all available with this account.
  • With this account, account holders will receive an ATM / ATM cum Debit / RuPay Debit Card.
  • The maximum number of deposits an account holder can make in a month is unlimited.
  • Account users are limited to four withdrawals per month, including those made at branches and ATMs.
  • There are no fees associated with any of the services delivered through this account. Furthermore, no penalty cost will be charged for an inactive account’s non-operation or activation.

Regular Savings Bank Account

  • This savings account allows you to bank whenever and wherever you want using branches, ATMs, the internet, and phone banking.
  • Account customers receive ATM cum Debit cards free of charge and can earn reward points on debit card purchases.
  • On this account, account holders can also use the nomination feature.
  • Because this account has a Zero Balance Facility, even students can create a Regular Savings Bank Account.
  • Account holders receive two free check books each year, as well as complimentary Accidental Insurance Coverage for debit card usage.
  • This account also has the U-Mobile feature, which allows you to check your balance, recharge your phone, make NEFT transactions, and pay bills all from your phone.

Union Savings Flexi Deposit Account

  • A debit card will be issued to all Flexi Deposit account holders at no cost.
  • The customer will receive a Passbook with this account that contains all details of the SB Flexi Account, associated FD Flexi Account, and any TDS adjustments.
  • Account holders can get up to 5 free cheque books per year, as well as the NEFT/RTGS service, which is also free.
  • With this savings account, you may also make nominations.
  • Customers might choose to roll over their deposit for another term when it matures.

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Union Bank of India Savings Account Charges

Savings Account TypeDebit Card FeeAccount Closure Fee
Basic Bank Savings Deposit A/cFree of chargeWithin 14 days of opening – Nil After 14 days of opening: Different charges are charged for various categories of applicants.
Regular Savings Bank Deposit A/cFree of chargeWithin 14 days of opening – Nil After 14 days of opening: Different charges are charged for various categories of applicants
Union Savings Flexi Deposit A/cWithin 14 days of opening – Nil After 14 days of opening: Different charges are charged for various categories of applicants

Eligibility for Union Bank of India Account Opening

  1. Regular Savings Bank Account
    • All residents (for Single Accounts) / 2 or more residents (for Joint Accounts), physically handicapped or illiterate individuals, Purdah Nasheen females, and minors.
    • Clubs, associations, societies, trusts, and agencies / institutions that the RBI has specially approved.
  2. Flexi Deposit Account at Union Savings
    • Individuals who are entitled to open a Savings Account, either individually or jointly, can open a Union Savings Flexi Deposit Account.
    • This form of Savings Account is also open to non-resident Indians (NRIs) who are entitled to open a Savings Account under the existing rules and regulations.

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Required Documents for Union Bank of India Account Opening

Customers must provide the following documents in order to apply for a Union Bank Savings Account:

1. Individual & Joint Applicants

  • ID Proof – Passport/PAN Card/Voter ID Card/Driving License/Job Card issued by the NREGA/Aadhar Card
  • Address Proof – Passport/Voter ID Card/Driving License/Job Card issued by the NREGA/Aadhar Card or Letter.

2. Non-Resident Indian Applicants

  • Copy of Passport & Resident Visa
  • Valid Documentation of foreign Residence
  • Passport sized photographs
  • NRI applicants must be introduced by a member of the Indian Embassy / Notary Public / Banker / local customer who has undergone the complete KYC procedure.
  • Concerns about propriety
  • Registration Certificate (in case of a registered concern).
  • Any documentation pertaining to the concern’s operations, such as a licence or certificate granted by municipal authorities under the Shop & Establishment Act, and so on.
  • A registration certificate or document issued by the Service Tax, Sales Tax, or Professional Tax authorities.
  • Certificate of CST/VAT.
  • Returns on Sales and Income Taxes
  • The License which is issued by Institute of Chartered Accountants of India, the Institute of Cost Accountants of India, the Institute of Company Secretaries of India, the Indian Medical Council, the Food and Drug Control Authorities, and other organisations.
  • Importer/Exporter code (IEC) issued by the Office of the Directorate General of Foreign Trade (DGFT).
  • Photo of the proprietor taken recently and sized for a passport.
  • Foundations & Trusts
  • Certificate of Registration or Trust Deed
  • Trusteeship List

Foundations & Trusts

  • List of Trustees (Trust Deed or Certificate of Registration)
  • Declaration of the Settlers
  • A legitimate and valid document authorising the person holding the power of attorney to act on behalf of the Trust/Foundation in transactions.
  • Document indicating the trust’s managing committee’s decision to open and operate the account.

Societies, Associations, Clubs, and Other Organizations.

  • Registration Certificate (in case of a registered body).
  • List of members on the Managing Committee, along with their bio-data.
  • Bye laws.
  • Document indicating the Managing Committee of the organization’s decision to open the account and assign authority to operate the accounts of the organisation.
  • All members of the Managing Committee must provide identification and proof of address.
  • Photographs of all members of the organisation at passport size.

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