Standard Savings Account
The saving account comes with such unique features that makes your banking experience delightful. The interest is calculated on daily basis and credited quarterly. To know more about such unique and exciting features, call us today!
An average quarterly balance of 5,000 in metro/urban banking outlet & 2,500 required in semi-urban/rural banking outlet. Certain benefits of our standard savings account, include higher ATM withdrawal and purchase limits. To top it all our debit cards come with Zero Liabilities coverage .
Get
Rewards
1 reward point on every 100 spends on debit card
Get
15% discount
1 reward point on every 100 spends on debit card
Get
Free
Cash withdrawal on Utkarsh Bank ATMs
Higher ATM withdrawal and purchase limits
Host of services offered at a minimum AQB requirement
Free NEFT/RTGS
Interest Rate on Domestic Savings *:
| Balance in | Rate of Interest w.e.f. September 10, 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 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 Standard Savings Account.
| Standard Savings Account | |
| Average Balance Requirements | AQB |
|---|---|
| Metro & Urban Branches | 5,000/- |
| Semi-Urban & Rural Branches | 2,500/- |
| Charges for Non-Maintenance | Metro/Urban: 25/- per 500/- of shortfall, Max 250/- for quarter; Semi Urban/Rural: 25/- per 500/- of shortfall, Max 250/- 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] | Unlimited |
| Charges Beyond Free Limit | Not Applicable |
| 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 |
| Stop Payment Instructions | 100/- per cheque |
| Signature, Address and Photo attestation | 100/- per instance |
| Balance Certificate | Not Applicable |
| SMS Alerts |
25 paisa per SMS Subject to maximum amount of ₹ 25 per quarter or actual amount whichever is lower. |
| 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 1stApril 2025, please click here
Apply for your new -age banking now and reap the benefits!
Loan calculator
|
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 September 10, 2024 as follows:
| Balance in | Rate of Interest w.e.f. September 10, 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 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 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. Metro/urban customers can enjoy banking services by maintaining an Average Quarterly Balance [AQB] of just 5,000 and semi-urban/rural customers can enjoy the same at 2,500 of Average Quarterly Balance [AQB].
The daily ATM withdrawal limit for our customers is 40,000 and the shopping limit is 1,00,000 [POS].
Any resident of India or a Hindu Undivided Family can apply to open a Standard Savings Account.
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Contact
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