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.
Get
Rewards
1 reward point on every 100 spends on debit card
Get
15% discount
1 reward point on every 100 spends on debit card
Get
Free
Cash withdrawal on Utkarsh Bank ATMs
For Merchants:
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Instant receipt of payment with instantaneous settlement.
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A faster and smoother mode of payments for merchants.
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Merchants can use this account towards collection of proceeds for transactions happening through the QR codes.
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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.
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Customized Welcome Kit with QR code and stand for Merchants.
For Customer:
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Allows customers to pay directly from their bank account or wallets to merchant's account.
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All payments are instant and 24/7, regardless of bank's working hours.
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Ease of payment anywhere, anytime.
| 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 | Upto 1 lakh - 5/- Above 1 lakh upto 2 lakhs - 10/- Above 2 lakh upto 3 lakhs - 15/- Above 3 lakh upto 5 lakhs - 20/- |
| 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 May 2023, please click here
Apply toUPI Easy Account
Loan calculator
|
Interest Rate 8.00% |
Interest Earned 3,50,452 |
|
Maturity Value 13,50,452 |
Maturity Date 20 Apr 2023 |
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(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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