UPI Easy Account

A Current Account product, which eases the transaction by creating a virtual address/UPI ID that becomes the identity for receiving and sending payments into Merchant's Account. This does not require detailed information or net banking user ID/ password. It has an added advantage of "Nil" Average Quarterly Balance maintenance.

Rewards

Get

Rewards

1 reward point on every 100 spends on debit card

15% discount

Get

15% discount

1 reward point on every 100 spends on debit card

Free

Get

Free

Cash withdrawal on Utkarsh Bank ATMs

For Merchants:
  • Instant receipt of payment with instantaneous settlement.

  • A faster and smoother mode of payments for merchants.

  • Merchants can use this account towards collection of proceeds for transactions happening through the QR codes.

  • Allowing merchant's consumer to directly pay through their digital wallets, in addition to the facility of paying from their bank accounts and receiving payment in their acquiring bank.

  • Customized Welcome Kit with QR code and stand for Merchants.


For Customer:
  • Allows customers to pay directly from their bank account or wallets to merchant's account.

  • All payments are instant and 24/7, regardless of bank's working hours.

  • Ease of payment anywhere, anytime.

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UPI EASY ACCOUNT
Average Balance Requirements AQB
Metro & Urban branches Nil
Semi urban & Rural branches Nil
Charges for Non-Maintenance Nil
Initial Funding Requirement Nil
Transaction Charges
Credit Transactions - Free limits/month
[through UPI application only]
Unlimited
Cash Deposit Transactions - Free limits/month Base Branch: 1 lakh
Non-base Branch: No Free Limit
Cash Deposit Transactions - Charges beyond Free limit 3 /- per 1000/-
Cash Withdrawal [Base Branch] - Free Limit/month Base Branch:1 lakhs
Cash Withdrawal [Non-base Branch] - Free Limit/month Non-base Branch:50,000/-
Cash Withdrawal [Non-base Branch] - Charges beyond Free Limit 2/- per 1,000/-
Local Cheque Collection and Payments at
Base Branch Location & Fund Transfer
Free
Account Maintenance - Free Limit 50 transactions per quarter[Cash, Clearing, Inter & Intra-Bank Transfer]
Account Maintenance - Charges beyond Free Limit 10/- per transaction
DD/PO Issuance
Demand Drafts Payable at own Bank Locations Upto 10,000/- 50/-
Above 10,000/- 4/- per 1,000/-
[Min  50/- Max  1000/-]
Revalidation 100/- per instance
Duplicate DD Issuance 100/- per instance
DD/PO Cancellation 100/- per instance
Cheque Book
Free Leaves One cheque book free per quarter
[10 leaves]
Charges Beyond Free Limit  2/- per leaf
[20/- per cheque book]
Payment Services
RTGS Inward/Outward Free
NEFT Inward/Outward Free
IMPS Payments 1 - 1000 - 2.50
1000 - 25000 - 5.00
25000 - 500000 - 15.00
Doorstep Banking Services
Cash Pickup Not Available
Documents/ Cheques/ DDs Pickup Not Available
Phone/Mobile Banking
Phone Banking Free
SMS Alerts

25 paisa per SMS

Subject to maximum amount of ₹ 25 per quarter

or

actual amount

whichever is lower.     

Other Charges
Outstation Cheque Collection Fees at own locations [Charges per instrument]
Upto & Including 5,000/- 25/-
Above 5,000/- upto 10,000/- 50/-
Above 10,000/- upto 1 lakh - 100/-
Above 1 lakh upto 5 lakhs - 200/-
Above 5 lakhs upto 10 lakhs - 225/-
Above 10 lakhs - 250/-
Outstation Cheque Collection Fees at Correspondent Bank locations [Charges per instrument]
Upto & Including 5,000/- 25/-
Above 5,000/- upto 10,000/- 50/-
Above 10,000/- upto 1 lakh - 100/-
Above 1 lakh upto 5 lakhs - 200/-
Above 5 lakhs upto 10 lakhs - 225/-
Above 10 lakhs - 250/-
[Plus other bank charges]
Cheque Return Charges [Outward and Inward] 200/- per cheque
Physical Account Statements [Quarterly] Free
Email Account Statements [Quarterly] Free
Stop Payment Instructions 100/- per instrument
Signature Verification/Address Confirmation 100/- per instance
Balance Certificate 100/- per instance
Confidential Report/Credit Confirmation Free
Solvency Attestation 100/- per instance
Photo Attestation Free
Activation of Inoperative Account Free
Account Related Charges
Account Closure Within 14 days - Nil
After 14 days to 12 months- 500/-
 Above 12 months:250/-

For complete details on Fees and Charges effective from 01st April 2024, please click here


 

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Apply toUPI Easy 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

Unified Payment Interface [UPI] is a payment system developed by National Payment Corporation of India [NPCI]. It is a platform where customer can fetch and place all his accounts maintained with different banks and transact through these accounts. UPI allows customer to transfer money between any two parties via smart phone through a payment identifier like virtual address or Account number and IFSC.

Yes, an Individual can open UPI Easy Account. Please visit branch for more details.

You get 10 cheque leaves per quarter.

Yes, you can register for UPI through the Utkarsh UPI App available on Google Play store & iOS.

Yes, one can use more than one UPI application on the same phone and link accounts of any Bank registered with UPI.

Within 24 to 48 hours, the amount shall be credited to your account In case of any further issues, please log a complaint to the customer care.

Yes. Payment can be made via IFSC/ Account number or MMID/ Mobile number of the beneficiary.

Please visit your nearest Utkarsh Small Finance Bank branch or call 1800-123-9878, 24×7 [Except National Holidays] for more details.

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