Gen-Nex Savings Account

Financial independence is as important as Literary Independence. Sow the seeds of financial discipline today. The Gen-Nex Savings Account can be opened jointly with a guardian and can be operated by the parent/ guardian until the minor becomes a major. Further, the account can be converted into a regular savings account. An average quarterly balance of 2,500 in metro/ urban Banking Outlets and 750 in semi-urban/ rural Banking Outlets is required to be maintained.




1 reward point on every 100 spends on debit card

15% discount


15% discount

1 reward point on every 100 spends on debit card




Cash withdrawal on Utkarsh Bank ATMs

  • Facility to auto transfer funds to Minor's Account

  • Unlimited Free ATM transactions across own bank ATMs within India

  • Customers are offered Higher ATM withdrawal and purchase limits

  • Lower ATM withdrawal and purchase limits as protection against misuse

  • Interest Rate on Domestic Savings *:

Balance in Rate of Interest w.e.f February 01, 2024
Balance Upto 1 Lakh 4.00% p.a.
Incremental balance above 1 Lakh upto 5 Lakhs 6.25% p.a.
Incremental balance above 5 Lakh upto 50 Lakhs 7.50% p.a.
Incremental Balance above 50 Lakhs up to 10 crore 7.25% p.a.
Incremental Balance above 10 Crore up to 50 crore 7.50% p.a.
Incremental Balance above 50 Crore 7.75% p.a.

* T&C Apply

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

Children below 18 years of age can open a Minor Savings Account with Utkarsh Small Finance Bank.

Gen-Nex Savings Account
Average Balance Requirements AQB
Metro & Urban Branches 2,500/-
Semi-Urban & Rural Branches 750/-
Changes for Non-Maintenance Metro/Urban: 25/- per 500/- of shortfall, Max 125/- for quarter;
Semi Urban/Rural: 25/- per 500/- of shortfall, Max 37.50/- for quarter
Branch Cash Transactions
Cash Deposit Transactions- Free limits/month 5 lakhs
Charges Beyond Free Limit 3/- per 1000/- [Min 50/-]
Cash Deposit Transactions Free limits/month [Folio] 10 transactions
Charges Beyond Free Limit 20/-
Cash Withdrawal - Free limits/month Unlimited
Cash Withdrawal charges beyond free limit Not Applicable
DD/PO Issuance
Demand Drafts Payable
on own Bank Locations
Upto 10,000/- 50/-
Above 10,000/- 4/- per 1,000/-
[Min 50/- and Max 1000/-]
Revalidation 100/-
Duplicate DD Issuance 100/-
DD/PO Cancellation 100/-
Cheque Issuance/ Collection Charges
Free Leaves One free cheque book per quarter [20 leaves]
Charges Beyond Free Limit 2/- per leaf
Cheque Return Charges [Outward] 200/- per cheque
Cheque Return Charges [Inward] 500/- per cheque
NEFT/RTGS/IMPS transactions [Online]
RTGS Outward Free
NEFT Outward Free
IMPS Payments 1 - 1000 - 2.50
1000 - 25000 - 5.00
25000 - 500000 - 15.00
Doorstep Banking Services
Cash Pickup Charges [within city limits with a radius of 5 km from base branch] Not Available
Cheque Pickup Charges [within city limits with a radius of 5 km from base branch] Not Available
Other Charges
Quarterly Physical Statements Free
Email Statements Free
SMS Alerts

25 paisa per SMS

Subject to maximum amount of ₹ 25 per quarter


actual amount

whichever is lower.     

Stop Payment Instructions 100/- per cheque
Signature, Address and Photo attestation 100/- per instance
Balance Certificate 100/- per instance
Account Related Charges
Account Closure Upto 14 days – Nil
Above 14 days up to 12 months - 500/-
Above 12 month- Nil.

With effect from April 1, 2015: In event of default in maintenance of Average Quarterly Balance [AQB] as agreed to between the Bank and the customer, Bank shall notify the customer by SMS/Email/ Letter, that in the event of the Average Quarterly Balance [AQB] not being restored in the account within a month from the date of notice, penal charges will be applicable.
In case the AQB is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges will be recovered in the subsequent month.
The Non Maintenance Charges will be based on the shortfall observed in the AQB and as specified in the SOC.
Due to security concerns, we request the customer to take full responsibility to update their coordinates and communication channels such as a valid e-mail ID, mobile number and address with the Bank at all times, failing which, customer may not receive the notification[s].
Penal charges will not be levied in In-Operative / Dormant Accounts.


For Debit Card Variants & Charges, kindly refer to the Card Section

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

Apply for Gen-Nex Savings Account

Loan calculator

Amount ()

1 Lac

10 Cr

Tenure ( )

1 Month


Interest Rate (%)



Equated Monthly installments (EMI)


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Deposit Amount
Interest Earned

Interest Rate


Interest Earned


Maturity Value


Maturity Date

20 Apr 2023

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


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


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


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

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