Business Plus Account

Business Plus Account is a bespoke solution curated for self-employed Individuals and Proprietors. It enables customers to earn similar interest, being offered on Savings Bank deposits, on the surplus balances held in Virtual Savings Account.

Along with the Busines Plus Account, a Virtual Savings Account will be opened (in the name of Proprietor) which will be linked to the Business Plus Account. At the end of the day, balance held in Business Plus Account above 50,000/- for Metro and Urban banking outlets and above 25,000/- for Semi-Urban and Rural banking outlets will be automatically transferred (sweep-out) to the linked Virtual Savings Account, thereby emphasizing liquidity with higher interest returns on surplus funds. Unlike FDs this will give an edge to the customers to earn interest on overnight balance as well.

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Cash withdrawal on Utkarsh Bank ATMs

  • Nil "Non-Maintenance Charges".

  • Monthly Free Cash Deposit limit at Base Branch of 10 Lakh and at Non- base Branch of 5 Lakh.

  • No TDS deduction on accrued interest in Virtual Savings 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 Withdrawal transactions at base branch.

  • Free Online transactions through Real-Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT)

  • Free Email Statement.

  • Doorstep Banking Services(as per applicability).

  • Issuance of RuPay Platinum Debit Card, with option of Card upgradation program.

  • Earn interest on balance maintained in Virtual Savings Account*.

* T&C Apply
*Applicable rate of interest of Savings Bank Account shall apply on the balance held in the linked Virtual Savings Account.

BUSINESS PLUS CURRENT ACCOUNT  

Average Balance Requirement
AQB
Metro & Urban Branches

50,000/-

 
Semi-Urban & Rural Branches

25,000/-

 
Charges for Non-Maintenance

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  
Demand Drafts/Pay Order  
Demand Draft Revalidation

100/- per instance

 
Duplicate Demand Draft Issuance

100/- per instance

 
Demand Drafts payable at own bank locations Upto 10,000/-50/- Above 10,000/-
4/- per 1,000/-[Min 50/- Max 1,000/-]
 
Demand Drafts/Pay Order Cancellation

100/- per instance

 
Cheque Issuance/Collection Charges  
Free leaves Two cheque books free per quarter [50 leaves]  
Charges Beyond Free Limit

2/- per leaf
[100/- per cheque book]

 
Local Cheque Collection and Payments at Base Branch Location & Fund Transfer Free  
Cheque Return Charges [Outward]

200/- per cheque

 
Cheque Return Charges [Inward]

500/- per cheque

 
Branch Cash Transactions  
Cash Deposit Transactions - Free Limit/Month Base Branch: 10 lakh
Non-base Branch: 5 lakh
 
Cash Deposit Transactions - Charges Beyond Free Limit

3/- per 1,000/- [Min 50/-]

 
Cash Withdrawal [Base Branch] - Free Limit/Month Unlimited  
Cash Withdrawal [Base Branch] - Charges Beyond free Limit Not Applicable  
Cash Withdrawal [Non- Base Branch] - Free Limit/Month Free upto 5 lakh  
Cash Withdrawal [Non-base Branch] - Charges Beyond Free Limit

2/- per 1,000/-

 
Account Maintenance - Free Limit [Cash, Clearing & Intra-bank transfer]

Unlimited

 
Account Maintenance - Charges Beyond Free Limit

Not Applicable

 
NEFT/RTGS Transactions  
RTGS Inward and Outward Free  
NEFT Inward and Outward Free  
IMPS Payments 1 - 1,000 - 2.50/-
1,000 - 25,000 - 5.00/-
25,000 - 5,00,000 - 15.00/-
 
Doorstep Banking Services  
Doorstep Banking Services
[Within City limits] Cash
Please contact the nearest Branch  
Doorstep Banking Services
[Within City limits] Cheque
1 Pickup free per day
[at selected locations]
 
Other Service Charges  
Physical Account Statements [Quarterly] Free  
Email Account Statements [Quarterly] Free  
Stop Payment Instructions

100/- per cheque

 
Signature Verification/Address Confirmation

100/- per instance

 
Confidential Report/Credit Confirmation Free  
Solvency Attestation Free  
Photo Attestation Free  
Activation of Inoperative Account Free  
SMS Alerts

25 paisa per SMS Subject to maximum amount of ₹25/- per quarter or actual amount whichever is lower.     

 
Account Closure Charges  
Account Closure Within 14 days- Nil
After 14 days to 12 months- 500/-
Above 12 months- 250/-
 

*Note:
1] Virtual Savings Account is automatically opened and linked with Business Plus Account. The surplus amount in Business Plus Account above ₹50,000/- in Metro & Urban Branches & ₹25,000/- in Semi-Urban & Rural Branches, will automatically sweep-in to Virtual Savings Account, at End of Day [EOD].
2] No charges applicable in Virtual Savings Account.

For complete details on Fees and Charges effective from 1stApril 2025, please click here


 

 

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Apply to Business Plus Account

Loan calculator

Amount ()

1 Lac

10 Cr

Tenure ( )

1 Month

120

Interest Rate (%)

1%

31%

line-chart-pattern-bg
Equated Monthly installments (EMI)

2,10,651

Need more Information?
Deposit Amount
Interest Earned

Interest Rate

8.00%

Interest Earned

3,50,452

Maturity Value

13,50,452

Maturity Date

20 Apr 2023

(Indicative interest rates for calculation only. click here for latest rates.)

FAQs

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

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

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

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

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

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

The surplus amount in Business Plus Account above minimum average balance requirement will be automatically swept into the Virtual Savings Account at the end of day [EOD].

If the aggregate balance falls below the requirement minimum average balance in Business Plus Account, then the system will automatically sweep-out the short fall amount from the linked Virtual Savings Account thereby maintaining the requisite minimum average balance.

If amount is retained overnight in Virtual Savings Account, it earn interest for that day on the amount parked in the virtual savings account.

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