Standard Savings Account

Even your small savings can reap you great benefits, when invested in Utkarsh Small Finance Bank Standard Savings Account. Invest your surplus and enjoy a wide range of benefits with special banking services, convenient access to your funds at all times, transactional benefits and high returns. Open your Savings Account and start experiencing the best on savings.

Apply online

Benefits
Eligibility
Documents Required
FAQs
Fees and Charges

Free Unlimited ATM transactions across all Bank ATMs within India
Quarterly/ Half Yearly balance requirement, instead of monthly

Interest Rate on Domestic Savings:

Balance in Rs.	Rate of Interest
Balance in Rs.	Rate of Interest
Balance Upto Rs. 25 Lakhs	7.00% p.a.
Incremental balance Above Rs. 25 Lakhs to Rs. 10 Crores	7.25% p.a.
Incremental Balance Above Rs. 10 Crores	7.75% p.a.

* Conditions Apply

Anyone residing in India or a Hindu Undivided Family can apply for an Utkarsh Standard Savings Account.

Documents for Standard Savings Account for individuals

Latest passport size photograph
Aadhaar Card
Address and Identity proof documents

Documents Acceptable as Proof of Identity & Address (For Domestic Individual Savings Accounts)*- Opening of Accounts / Address Change / Periodic Updation of KYC (Re-KYC)

Sr No	Type of Document	ID Proof	Address Proof
1	Passport	Yes	Yes
2	Driving Licence	Yes	Yes
3	Permanent Account Number (PAN)	Yes	No
4	Voters ID Card (Issued by Election Commission of India)	Yes	Yes
5	Job Card by NREGA (duly signed by an officer of the State Government)	Yes	Yes
6	Aadhaar Card	Yes	Yes

Documents required to open a Standard Savings Account - Hindu Undivided Family

PAN Card copy / Form 60 of HUF
Declaration from the Karta
Proof of identification and address of Karta as per documentation for individual
Prescribed Joint Hindu Family Letter signed by all the Coparceners

* Kindly contact the nearest branch in case you don’t have any of the above mentioned documents.

What is the interest rate applicable?

Interest Rate on Domestic Savings Account Deposits with effect from February 01, 2020 as follows:
Interest Rate on Domestic Savings:

Balance in Rs.	Rate of Interest
Balance in Rs.	Rate of Interest
Balance Upto Rs.25 Lakhs	7.00% p.a.
Incremental balance Above Rs.25 Lakhs to Rs.10 Crores	7.25% p.a.
Incremental Balance Above Rs.10 Crores	7.75% p.a.

How is Interest calculated ?

Interest on daily balance is calculated as below-
1. 7% for daily balances upto (& Including) Rs. 25 Lakhs
2. 7.25% for balances above Rs. 25 Lakhs, please note 7.25% will be paid on incremental balance above Rs. 25 lakhs & upto (& Including) Rs. 10 Crore

3. 7.75% for balance above Rs. 10 Crore, please note 7.75% will be paid on incremental balance above Rs. 10 Crore

What is the minimum Average Monthly Balance (AMB) required for a Standard Savings Account?

The biggest advantage our customers have is that we request them to maintain an Average Quarterly Balance (AQB) instead of a monthly balance. Metro/urban customers can enjoy classic banking services with an Average Quarterly Balance (AQB) of just 10,000 and semi-urban/rural customers can enjoy the same at 5,000 of half yearly average balance.

What is the daily transaction limit?

The daily ATM withdrawal limit for our customers is 40,000 and the shopping limit is 1,00,000 (POS).

Who is eligible to open a Standard Savings Account?

Any resident of India or a Hindu Undivided Family can apply to open a Standard Savings Account.

Schedule of Charges: Standard Savings Account
AQB Requirements	AQB Non-Maintenance Charges
Metro/Urban : 5,000/-AQB	Metro/Urban: 25/- per 500/-of shortfall, Max 350/-for quarter;
Semi Urban/Rural : 2,500/-Quarter	Semi Urban/Rural: 25/- per 500/- of shortfall, Max 250/- for half year
	(Non Maintenance) Charges will not levied for Quarter 1 of FY 2020-21 i.e. 01st April 2020 to 30th June 2020

Debit Card	Rupay Card - Classic
Card Fees	Issuance Fee (Primary Holder): 100/- Annual Fee (Primary Holder): Free for first year, 150/- from subsequent year
Withdrawal Limit	ATM 40,000/- per day
Per Transaction Limits	20,000/- (own Bank ATM) 10,000/- (other Bank ATM)
Shopping Limit	POS 1,00,000/- per day
Per Transaction Limits	POS 25,000/-
ATM Transactions	Unlimited Free Transactions
Other ATM Card Charges	PIN Regeneration Charges - NIL (Green Pin) Card Replacement Charges - 150/- Add on charges - 100/-

Service Type	Free limit	Charges Beyond Free Limit
Cash Deposit Transactions	5 Lakhs/ 10 transactions	2.50/- per 1,000/- (Min. 20/-)
Cheque book	One Free Chequebook per quarter (20 leaves)	2/- leaf

DD/PO transactions

Demand Drafts Payable at own Bank locations:
Upto 2,000/- 20/-
Above 2,000/- upto 10,000/- 50/-
Above 10,000/- 2/- 1,000/-
(Min 60/- & Max 1,500/-)

Payable at corresponding bank locations:

1/- per thousand, min 25/- DD + Correspondent Bank charges
Revalidation/Duplicate DD: 100/-
Cancellation: 100/-

For complete details on Fees and Charges, please click here

Benefits

Eligibility

Anyone residing in India or a Hindu Undivided Family can apply for an Utkarsh Standard Savings Account.

Documents Required