Digital Savings Account

Skip the paperwork and open your Account instantly with our Video KYC. Enjoy a simple, convenient, and safe banking journey without visiting the branch.

Rewards
< class="p16">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

  • Instant Account opening and Instant Account number

  • Earn higher Interest Rates upto 7.75% p.a*

  • No physical branch visit and documentation required

  • Completely paperless process

  • Advantage of choosing an Account online that best suits your needs

* T&C Apply

  • Indian Citizens presently living in India

  • Must be of minimum 18 years.

  • Your Aadhaar must be linked with your Mobile number and PAN.

  • Video KYC is completely Free

  • For complete details on fees and charges effective from 1st May 2023, Please click here

    Balance in Rate of Interest w.e.f 1stNovember 2023
    Balance up to 1 Lakh 4.00% p.a.
    Incremental Balance above 1 Lakh up to 5 Lakhs 6.25% p.a.
    Incremental Balance above 5 Lakhs up to 50 Lakhs 7.50% p.a.
    Incremental Balance above 50 Lakhs up to 10 Crore 7.25% p.a.
    Incremental Balance above 10 Crore 7.50% p.a.

    * T&C Apply

    *Important Point: No Additional Interest Rate for Senior Citizen.

gift-icon
Apply for your new -age banking now and reap the benefits!

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

V-KYC is an account that enables a new-to-bank customer to onboard oneself through digital platforms. Some of the features are as follows:

  • It facilitates customers to access banking services from anywhere
  • It’s a Zero Balance Maintenance Savings Account
  • Provides a power-packed virtual Debit Card.
  • Free online money transfers.
  • Link the account for equated monthly instalment [EMI] payment.

A maximum of 1 lakh can be kept as account balance at a time in the U-Instant account. In a financial year, a maximum of 2 Lakhs credit transaction is allowed in the U-Instant account. For higher limits over and above ₹1 lakh, the U-Instant account needs to be converted into a regular Savings Account with full KYC [Know Your Customer] documentation either through visiting a branch or through V-KYC [Video KYC]. The validity of the U-Instant account will be for one year from the date of opening the account, within which the customer will be required to convert the account into a regular Savings Account with complete KYC documentation as mentioned above.

Once the account is activated, the customer can download the UTKARSH MOBILE Application through google play store/apple app store and create MPIN. On successful completion of the above process, the customer may start using the Mobile Banking Application.

It is similar to the physical debit card only which is available in a digital format. A Virtual Debit Card can be used only for e-com transactions e.g. online shopping, pay bills or recharges mobile/DTH etc.

Once your Savings Account is opened, you can:

  • Register for our mobile banking and internet banking facilities.
  • Transfer money from your account.
  • Book FD/RD
  • Pay your Bill
  • You can shop online using your V-KYC Virtual debit card [applicable for U-instant account].

Video KYC enables you to open a Full KYC account instantly. It is an option in which you receive a video call from our Bank representative to complete your KYC process after entering your details. The video call eliminates a visit to the branch physically to complete your KYC.

Please Keep the followings ready before you connect to the call.

  • Ensure that you have a good internet connection.Log in to the call with a device that has a camera and a microphone.
  • Permission to access your device's location, camera and microphone[ while the onboarding is on].
  • Please ensure you are not using a VPN.
  • Blank white sheet and a black pen for signature
  • Your original permanent account number [PAN]Card.

Yes, our Video KYC process is completely safe and secure. The information you provide during the video call is secured and encrypted with an advanced technology. Additionally, with AI-based face recognition, additional OTP verification, and thorough video validation, we keep all your information secure. To ensure this, please only click on the link provided in our bank’s website or mobile banking app. Kindly refrain using public Wi-fi connections for your safety & security.

Yes, there is a schedule option where you can re-schedule a call at a later date. However, please ensure to complete your video KYC call within the Bank’s business days.

Since it is a video verification process, we need consent to use your camera and microphone during the V-KYC.

You can use any device such as Computer, Laptop, Mobile or Tablet which is enabled with a good working camera, microphone and internet connection [avoid public wifi connection].

  • This is a contactless and paperless way to verify your identity and onboard for the account-based relationship with the Bank.
  • Eliminates the physical presence in the Bank thereby saves time and travel cost.
  • Conducive for senior citizens, pregnant women and differently abled individuals

You may convert you account into a regular Savings Account with complete KYC documentation through online mode(Video KYC) or you may also visit our nearest Bank branch

Yes, our Video-KYC [V-KYC] process is available between 7 AM to 11 PM on the Bank’s business days as per Maharashtra Government’s Holiday Calendar. You may schedule for your V-KYC as per your convenience during this period. Also, please note that the V-KYC has to be completed within maximum of 3 working days from the day of the request raised.

Mobile number that is linked to/registered with your Aadhaar should be same.

You can select the available option like UPI/QR/Net banking/ Debit Card to fund the account

Bank reserves the right to reject the account opening application, if there is any erroneous, incomplete, or misleading etc. information related to the customer is observed or for any other reason whatsoever with/without assigning any reason or if KYC documents submitted do not comply with the KYC norms of the Bank. In case of such rejection, the initial funding will be refunded after 3 working days without any interest through NEFT/RTGS/UPI mode OR will issue a Demand Draft and dispatch the same in the customer communication address available in Bank’s records. However, customers may apply a fresh request by visiting their nearest USFBL branch.

Blogs

How to select the perfect Savings Account

Read more

Fixed Deposit Vs Public Provident Fund : Which is Better?

Read more

Everything you need to know before taking a loan for home

Read more

Top media stocks in India : Entertaining Income

Read more

You may also be interested in

Savings
Savings

Earn up to 7.75 %* on your Savings Account and get interest credited quarterly

Deposits
Deposits

Earn interest rates up to 8.50 %* p.a. and 9.10 %* p.a. for Senior Citizens

Loans
Loans

Get Loan amount upto 10 Crores with Flexible Tenure upto 15 years

Explore offers on debitcard
Insurance & Investment

Turn your surplus funds into security, for a better tomorrow

go-to-top

TOP