Standard Savings Account

An average quarterly balance of 5,000 in metro/urban banking outlet & 2,500 required in semi-urban/rural banking outlet. Certain unique features of our standard savings account, include higher ATM withdrawal and purchase limits.. The interest is calculated on daily product basis and credited quarterly.Zero Liabilities coverage on Debit card.

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Eligibility
Benefits
FAQs
Fees and Charges

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

Higher ATM withdrawal and purchase limits
Host of Services at low AQB requirement
Free NEFT/RTGS

Interest Rate on Domestic Savings *:

Balance in	Rate of Interest w.e.f June 01, 2022
Balance in	Rate of Interest w.e.f June 01, 2022
Balance Upto 1 Lakh	4.25% p.a.
Incremental balance above 1 Lakh upto 25 Lakhs	6.50% p.a.
Incremental Balance above 25 Lakhs	7.00% p.a.

* Conditions Apply

What is the interest rate applicable?

Interest Rate on Domestic Savings Account Deposits with effect from June 01, 2022 as follows:

Balance in	Rate of Interest w.e.f June 01, 2022
Balance in	Rate of Interest w.e.f June 01, 2022
Balance Upto 1 Lakh	4.25% p.a.
Incremental balance above 1 Lakh upto 25 Lakhs	6.50% p.a.
Incremental Balance above 25 Lakhs	7.00% p.a.

Conditions Apply

How is Interest calculated ?

The interest is calculated on daily product basis and credited quarterly.

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

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).

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.

	Standard Savings Account
	Average Balance Requirements	Standard Savings Account
	Average Balance Requirements	AQB
	Metro & Urban Banking Outlets	5,000/-
	Semi-Urban & Rural Banking Outlets	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(Folio Charges)	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)
	Demand Drafts Payable at Correspondent Bank Locations	1/- per thousand, min 25/DD + Correspondent Bank charges
	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/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 - 15/-
	Phone/Mobile Banking
	SMS Alerts	50 p. per SMS Periodicity: Monthly
	Doorstep Banking Services
	Cash Pickup Charges (within city limits with a radius of 5 km from base Banking Outlet	Not Available
	Cheque Pickup Charges (within city limits with a radius of 5 km from base Banking Outlet	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
	Duplicate Interest & Balance Certificate Issuance Charge	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 Sep 2022, please click here

Eligibility

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

Benefits

FAQs

Fees and Charges

	Standard Savings Account
	Average Balance Requirements	Standard Savings Account
	Average Balance Requirements	AQB
	Metro & Urban Banking Outlets	5,000/-
	Semi-Urban & Rural Banking Outlets	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(Folio Charges)	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)
	Demand Drafts Payable at Correspondent Bank Locations	1/- per thousand, min 25/DD + Correspondent Bank charges
	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/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 - 15/-
	Phone/Mobile Banking
	SMS Alerts	50 p. per SMS Periodicity: Monthly
	Doorstep Banking Services
	Cash Pickup Charges (within city limits with a radius of 5 km from base Banking Outlet	Not Available
	Cheque Pickup Charges (within city limits with a radius of 5 km from base Banking Outlet	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
	Duplicate Interest & Balance Certificate Issuance Charge	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 Sep 2022, please click here