Naveen Savings Account

Naveen Savings Account is a full KYC account which provides a basic savings banking features with the aim of encouraging people to start saving without the burden of fees and charges. The aim of introducing “Naveen Saving Account” is to offer small saving deposit and utilize the same for day to day requirement, wherein they can pool in the daily/monthly saving and avail the basic benefits and services of banking products. This encourages small customer segment for starting small amount deposit.

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1 reward point on every 100 spends on debit card

15% discount

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1 reward point on every 100 spends on debit card

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Free

Cash withdrawal on Utkarsh Bank ATMs

  • Free Quarterly Physical/Email account statement

  • Availability of Cheque book facility with 1 free cheque book per quarter (10 leaves per book)

  • Unlimited free Cash Withdrawal transactions (Across all categories of Branches)

  • Free online transaction through RTGS, NEFT and IMPS payments.

  • Interest Rate on Domestic Savings *:

Balance in Rate of Interest w.e.f. May 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 Lakhs upto 2 crore 7.50% p.a.
Incremental Balance above 2 Crore 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.

Anyone residing in India can apply for an Utkarsh Naveen Savings Account.

Naveen Savings Account
Average Balance Requirements AQB
Metro/Urban/Semi-Urban/Rural Branches ₹2,000/- 
Non-Maintenance Charges

25/- per ₹500/- of shortfall,

Max ₹ 100/- for quarter

Initial Funding Requirement 50% of Average Quarterly Balance Requirement
Branch Cash Transactions
Cash Deposit Transactions- Free limits/month 2,00,000/- [Across all categories of Branches]
Charges Beyond Free Limit 3/- per 1000/- [Min 50/-]
Cash Deposit Transactions [Folio Charges] 4 Branch transactions
Charges Beyond Free Limit ₹20/- per Transaction
Cash Withdrawal - Free limits/month Unlimited [Across all categories of Branches]
Cash Withdrawal charges beyond free limit Nil
Cheque Issuance/ Collection Charges
Chequebook [10 Leaves] 1 cheque book free per quarter
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 Free
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 Nil
Duplicate Interest & Balance Certificate Issuance Charge Nil
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.
*This product is available exclusively at Micro Banking Branches.

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

 

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Apply to Naveen 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.)

FAQs

Interest Rate on Domestic Savings Account Deposits with effect from May 01, 2024 as follows:

 

Balance in Rate of Interest w.e.f. May 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 Lakhs upto ₹2 Crore 7.50% p.a.
Incremental Balance above 2 Crore 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

 

 

Interest calculated on a Savings Account is determined on daily basis at your closing balance and is credited quarterly.


 

 

The biggest advantage our customers have is that they need to maintain an Average Quarterly Balance [AQB] instead of a monthly balance. Customers can enjoy banking services by maintaining an Average Quarterly Balance [AQB] of just 2,000 across all categories of branches.

 

The daily ATM withdrawal limit for our customers is 40,000 and the shopping limit is 2,00,000 [POS].

 

 

Any resident of India can apply to open a Naveen Savings Account.

 

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