Name: Utkarsh Bank
Address: S-24/1-2, First Floor,Mahavir Nagar,Orderly Bazar, Near Mahavir Mandir, Varanasi, 221002, India
Telephone: 1800 123 9878

Business Plus Account

The Business Plus account is a bespoke solution curated for self-employed Individuals & Proprietors. Product enables customer to earn savings bank interest on their current account balance.

Along with current account, bank will open linked virtual Savings Account (in name of Proprietor). Day end balance above 50,000/- (For Metro/Urban Branches) & above 25,000/- (For Semi Urban/Rural Branches) in current account will be automatically transferred to the linked virtual Savings Account, thereby emphasizing liquidity with higher interest returns on surplus funds, and offering maximum returns to customers. Unlike FD’s this will give an edge to the client to earn interest on overnight balances as well.

Benefits
FAQs
Fee & Charges

Nil “Non-Maintenance Charges”.
Monthly Free Cash Deposit limit at Home Branch of 10 Lakh and at Non- base Branch of 5 Lakh.
No TDS deduction on accrued interest in Savings Bank Account.
Auto sweep-in/sweep-out facility available. Customer may transfer or withdraw funds from branch /ATM anytime. Money will be automatically swept-in from his/her linked Virtual Savings Account (Provided sufficient balance is available in Virtual Savings Account).
Unlimited free Cash Withdrawaltransactions at home branch.
Free Online transactions through Real-Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) & IMPS.
Free Email Statement.
Doorstep Banking Services(as per applicability).
Issuance of Ru-pay Platinum Debit Card, with option of Card upgradation program.
Earn interest on balance maintained in virtual savings account*.

Who can open a Business Plus Account?

An Individual and a Sole Proprietorships concern can open a Business Plus Account.

What is the main feature of Business Plus Account?

Business Plus Account is linked with a virtual saving account, wherein any account balance held above minimum average balance in Business Plus Account will get transferred to the linked virtual saving account at the end of the day, thereby emphasizing liquidity with higher interest returns on surplus funds, and offering maximum returns to customers. Unlike FD’s this will give edge to the client to earn interest overnight.

What is the initial funding requirement in Business Plus Account?

Minimum initial funding requirement of 25,000 for Metro/Urban Branches and 12,500 for Semi-Urban/Rural Branches.

How many monthly free cash deposit limits are allowed in Business Plus Account?

Monthly free cash deposit limit at base branch of 10 lakhs and at non-base branch of 5 lakhs.

How many free Cheque leaves will be issued?

Two cheque books containing 50 leaves each per quarter shall be issued.

Is there any Non-Maintenance Charges in Business Plus Account?

No, there is NIL “Non-Maintenance Charges” in Business Plus Account.

How the linked Virtual Saving Account will get funded?

The surplus amount in Business Plus Account above minimum average balance requirement will be automatically swept-in into the virtual savings account at the end of day (EOD).

How does the Business Plus Account maintain AQB?

If the aggregate balance falls below the required minimum average balance in a Business Plus Account, then system will automatically sweep-out the short fall amount from the linked virtual saving account thereby maintaining requisite minimum average balance.

What if my money stays overnight in virtual saving account?

If Money stays overnight in the virtual saving account, it earn interest for that day on the amount parked in the virtual savings account.

BUSINESS PLUS CURRENT ACCOUNT
Minimum Balance Requirement	Business Plus Current Account	Virtual Savings Account (linked with Business Plus Account)
Minimum Balance Requirement	AQB
Metro & Urban Branches	50,000/-	Nil
Semi-Urban & Rural Branches	25,000/-	Nil
Chages for Non-Maintenance	Nil	Nil
Sweep in/Sweep Out Balance Criteria	If the aggregate balance falls in Business plus Account below 50,000/- in Metro & Urban Branches 25,000/- in Semi-Urban & Rural Branch then system will sweep out the short fall amount from the linked Virtual Savings Account and maintain the balance in Business Plus Account	The surplus amount in Business plus Account above 50,000/- in Metro & Urban Branches & 25,000/- in Semi-Urban & Rural Branch , will be automatically sweep-in to Virtual Savings Account, at End of Day (EOD).
Initial funding requirement	25,000/- for Metro & Urban Branches 12,500/- for Semi-Urban & Rural Branches	Not Applicable
Demand Drafts/Pay Order
DD Revalidation	100/- per instance	Not Applicable
Duplicate DD Issuance	100/- per instance	Not Applicable
Demand Drafts payable at own bank locations	Upto10,000/-50/- Above 10,000/- 4/- per 1,000/-(Min 50/- Max 1000/-)	Not Applicable
DD/PO Cancellation	100/- per instance	Not Applicable
Cheque Issuance/ Collection Charges
Cheque Book (50 leaves)	Two free cheque book per quarter	Not Applicable
Charges Beyond Free Limit	2/- per leaf (100/- per cheque book)	Not Applicable
Local Cheque Collection and Payments at Base Branch Location & Fund Transfer	Free	Not Applicable
Cheque Return Charges (Outward)	200/- per cheque	Not Applicable
Cheque Return Charges (Inward)	500/- per cheque	Not Applicable
Branch Cash Transactions
Cash Deposit Transactions - Free limits/month	Base Branch: 10 lakhs Non-base Branch: 5 lakh	Not Applicable
Cash Deposit Transactions - Charges beyond Free limit	3/- per 1000 (Min 50/-)	Not Applicable
Cash Withdrawal (Base Branch)	Unlimited	Not Applicable
Cash Withdrawal charges beyond free limit	Not Applicable	Not Applicable
Cash Withdrawal (Non- Base Branch) - Free limit	Free upto 5 lakhs per month	Not Applicable
Cash Withdrawal (Non-base Banking outlet) - Charges beyond Free Limit	2/- per 1,000/-	Not Applicable
NEFT/RTGS Transactions (Branch Banking)
RTGS Outward	Free	Not Applicable
NEFT Outward	Free	Not Applicable
IMPS Payments	Free	Not Applicable
Phone/Mobile Banking
Phone Banking	Free	Not Applicable
SMS Alerts	50 p. per SMS Periodicity: Monthly	Not Applicable
Doorstep Banking Services
Doorstep Banking Services (Within City limits) Cash	Please contact the nearest Branch	Not Applicable
Doorstep Banking Services (Within City limits) Cheque	One Pickup free per day (at selected locations)	Not Applicable
Other Service Charges
Physical Account Statements (Quarterly)	Free	Not Applicable
Email Account Statements (Quarterly)	Free	Not Applicable
Stop Payment Instructions	100/- per cheque	Not Applicable
Signature Verification/Address Confirmation	100/- per instance	Not Applicable
Balance Certificate	Free	Not Applicable
Confidential Report/Credit Confirmation	Free	Not Applicable
Solvency Attestation	Free	Not Applicable
Photo Attestation	Free	Not Applicable
Activation of Inoperative Account	Free	Not Applicable
Account Related Charges
Account Closure	Within 14 days - Nil After 14 days to 12 months- 500/- Above 12 months:250/-	Not Applicable

For complete details on Fees and Charges effective from 01st Jan 2023 click here

Benefits
1. Nil “Non-Maintenance Charges”.
2. Monthly Free Cash Deposit limit at Home Branch of 10 Lakh and at Non- base Branch of 5 Lakh.
3. No TDS deduction on accrued interest in Savings Bank Account.
4. Auto sweep-in/sweep-out facility available. Customer may transfer or withdraw funds from branch /ATM anytime. Money will be automatically swept-in from his/her linked Virtual Savings Account (Provided sufficient balance is available in Virtual Savings Account).
5. Unlimited free Cash Withdrawaltransactions at home branch.
6. Free Online transactions through Real-Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) & IMPS.
7. Free Email Statement.
8. Doorstep Banking Services(as per applicability).
9. Issuance of Ru-pay Platinum Debit Card, with option of Card upgradation program.
10. Earn interest on balance maintained in virtual savings account*.
FAQs

Who can open a Business Plus Account?

An Individual and a Sole Proprietorships concern can open a Business Plus Account.

What is the main feature of Business Plus Account?

Business Plus Account is linked with a virtual saving account, wherein any account balance held above minimum average balance in Business Plus Account will get transferred to the linked virtual saving account at the end of the day, thereby emphasizing liquidity with higher interest returns on surplus funds, and offering maximum returns to customers. Unlike FD’s this will give edge to the client to earn interest overnight.

What is the initial funding requirement in Business Plus Account?

Minimum initial funding requirement of 25,000 for Metro/Urban Branches and 12,500 for Semi-Urban/Rural Branches.

How many monthly free cash deposit limits are allowed in Business Plus Account?

Monthly free cash deposit limit at base branch of 10 lakhs and at non-base branch of 5 lakhs.

How many free Cheque leaves will be issued?

Two cheque books containing 50 leaves each per quarter shall be issued.

Is there any Non-Maintenance Charges in Business Plus Account?

No, there is NIL “Non-Maintenance Charges” in Business Plus Account.

How the linked Virtual Saving Account will get funded?

The surplus amount in Business Plus Account above minimum average balance requirement will be automatically swept-in into the virtual savings account at the end of day (EOD).

How does the Business Plus Account maintain AQB?

If the aggregate balance falls below the required minimum average balance in a Business Plus Account, then system will automatically sweep-out the short fall amount from the linked virtual saving account thereby maintaining requisite minimum average balance.

What if my money stays overnight in virtual saving account?

If Money stays overnight in the virtual saving account, it earn interest for that day on the amount parked in the virtual savings account.

Fee & Charges

BUSINESS PLUS CURRENT ACCOUNT
Minimum Balance Requirement	Business Plus Current Account	Virtual Savings Account (linked with Business Plus Account)
Minimum Balance Requirement	AQB
Metro & Urban Branches	50,000/-	Nil
Semi-Urban & Rural Branches	25,000/-	Nil
Chages for Non-Maintenance	Nil	Nil
Sweep in/Sweep Out Balance Criteria	If the aggregate balance falls in Business plus Account below 50,000/- in Metro & Urban Branches 25,000/- in Semi-Urban & Rural Branch then system will sweep out the short fall amount from the linked Virtual Savings Account and maintain the balance in Business Plus Account	The surplus amount in Business plus Account above 50,000/- in Metro & Urban Branches & 25,000/- in Semi-Urban & Rural Branch , will be automatically sweep-in to Virtual Savings Account, at End of Day (EOD).
Initial funding requirement	25,000/- for Metro & Urban Branches 12,500/- for Semi-Urban & Rural Branches	Not Applicable
Demand Drafts/Pay Order
DD Revalidation	100/- per instance	Not Applicable
Duplicate DD Issuance	100/- per instance	Not Applicable
Demand Drafts payable at own bank locations	Upto10,000/-50/- Above 10,000/- 4/- per 1,000/-(Min 50/- Max 1000/-)	Not Applicable
DD/PO Cancellation	100/- per instance	Not Applicable
Cheque Issuance/ Collection Charges
Cheque Book (50 leaves)	Two free cheque book per quarter	Not Applicable
Charges Beyond Free Limit	2/- per leaf (100/- per cheque book)	Not Applicable
Local Cheque Collection and Payments at Base Branch Location & Fund Transfer	Free	Not Applicable
Cheque Return Charges (Outward)	200/- per cheque	Not Applicable
Cheque Return Charges (Inward)	500/- per cheque	Not Applicable
Branch Cash Transactions
Cash Deposit Transactions - Free limits/month	Base Branch: 10 lakhs Non-base Branch: 5 lakh	Not Applicable
Cash Deposit Transactions - Charges beyond Free limit	3/- per 1000 (Min 50/-)	Not Applicable
Cash Withdrawal (Base Branch)	Unlimited	Not Applicable
Cash Withdrawal charges beyond free limit	Not Applicable	Not Applicable
Cash Withdrawal (Non- Base Branch) - Free limit	Free upto 5 lakhs per month	Not Applicable
Cash Withdrawal (Non-base Banking outlet) - Charges beyond Free Limit	2/- per 1,000/-	Not Applicable
NEFT/RTGS Transactions (Branch Banking)
RTGS Outward	Free	Not Applicable
NEFT Outward	Free	Not Applicable
IMPS Payments	Free	Not Applicable
Phone/Mobile Banking
Phone Banking	Free	Not Applicable
SMS Alerts	50 p. per SMS Periodicity: Monthly	Not Applicable
Doorstep Banking Services
Doorstep Banking Services (Within City limits) Cash	Please contact the nearest Branch	Not Applicable
Doorstep Banking Services (Within City limits) Cheque	One Pickup free per day (at selected locations)	Not Applicable
Other Service Charges
Physical Account Statements (Quarterly)	Free	Not Applicable
Email Account Statements (Quarterly)	Free	Not Applicable
Stop Payment Instructions	100/- per cheque	Not Applicable
Signature Verification/Address Confirmation	100/- per instance	Not Applicable
Balance Certificate	Free	Not Applicable
Confidential Report/Credit Confirmation	Free	Not Applicable
Solvency Attestation	Free	Not Applicable
Photo Attestation	Free	Not Applicable
Activation of Inoperative Account	Free	Not Applicable
Account Related Charges
Account Closure	Within 14 days - Nil After 14 days to 12 months- 500/- Above 12 months:250/-	Not Applicable

For complete details on Fees and Charges effective from 01st Jan 2023 click here