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.Get
1 reward point on every
100 spends on debit cardGet
1 reward point on every
100 spends on debit cardGet
Cash withdrawal on Utkarsh Bank ATMs
Facility to auto transfer funds to Minor's Account
Classic Rupay Debit Card with Unlimited Free ATM access at (own/other) Banks within India
Customers are offered Higher ATM withdrawal and purchase limits
Lower ATM withdrawal and purchase limits as protection against misuse
Free SMS Alerts
Interest Rate on Domestic Savings *:
Balance in | Rate of Interest w.e.f 1stDec 2022 |
---|---|
Balance Upto | 1 Lakh4.25% p.a. |
Incremental balance above | 1 Lakh upto 25 Lakh6.50% p.a. |
Incremental Balance above | 25 Lakhs up to 10 crore7.25% p.a. |
Incremental Balance above | 10 Crore7.50% 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: Semi Urban/Rural: 25/- per 500/- of shortfall, Max 37.50/- for quarter |
25/- per 500/- of shortfall, Max 125/- for quarter;
Branch Cash Transactions | |
Cash Deposit Transactions- Free limits/month | 5 lakhs |
Charges Beyond Free Limit | 3/- per leaf 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 Above 10,000/- 4/- per 1,000/- [Min 50/- and Max 1000/-] |
10,000/- 50/-
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 | Upto Above 1 lakh upto 2 lakhs - 10/- Above 2 lakh upto 3 lakhs - 15/- Above 3 lakh upto 5 lakhs - 20/- |
1 lakh - 5/-
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 or 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. |
For Debit Card Variants & Charges, kindly refer to the Card Section
For complete details on Fees and Charges effective from 01st May 2023, please click here
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.) |
Earn upto 7.50% p.a. on your Savings Account, with Quarterly credits
Earn interest rates upto 8.50 % p.a. and 9.10% p.a. for Senior Citizens
Get Loan amount upto
10 Crores with Flexible Tenure upto 15 yearsTurn your surplus funds into security, for a better tomorrow
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