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.

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

  • 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 Lakh 4.25% p.a.
Incremental balance above 1 Lakh upto 25 Lakh 6.50% p.a.
Incremental Balance above 25 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.

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 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 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 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 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

gift-icon
Apply to Gen-Nex Savings 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.)

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 upto 7.50% p.a. on your Savings Account, with Quarterly credits

Deposits
Deposits

Earn interest rates upto 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