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 .

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1 reward point on every 100 spends on debit card

15% discount

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15% discount

1 reward point on every 100 spends on debit card

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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. 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 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] 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
Stop Payment Instructions 100/- per cheque
Signature, Address and Photo attestation 100/- per instance
Balance Certificate 100/- per instance
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 01st April 2024, please click here

 

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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 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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