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 Standard Savings Account and start experiencing the best on savings.

Apply online

Benefits
Eligibility
FAQs
Fees and Charges

Free Unlimited ATM transactions across all Bank ATMs within India
Host of Services at low AQB requirement
Free NEFT/RTGS
Interest Rate on Domestic Savings:

Balance in Rs.	Rate of Interest w.e.f Aug 01, 2020
Balance in Rs.	Rate of Interest w.e.f Aug 01, 2020
Balance Upto Rs. 1 Lakh	5.00%
Incremental balance Above Rs. 1 Lakh to Rs. 25 Lakhs	6.00%
Incremental Balance Above Rs. 25 Lakhs	7.25%

* Conditions Apply

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

What is the interest rate applicable?

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

Interest Rate on Domestic Savings:

Balance in Rs.	Rate of Interest w.e.f Aug 01, 2020
Balance in Rs.	Rate of Interest w.e.f Aug 01, 2020
Balance Upto Rs. 1 Lakh	5.00%
Incremental balance Above Rs. 1 Lakh to Rs. 25 Lakhs	6.00%
Incremental Balance Above Rs. 25 Lakhs	7.25%

Conditions Apply

How is Interest calculated ?

Interest on domestic rupee savings deposits shall be calculated on a daily product basis.

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 Rs. 5,000 and semi-urban/rural customers can enjoy the same at Rs.2,500 of Average Quarterly Balance (AQB).

What is the daily transaction limit?

The daily ATM withdrawal limit for our customers is Rs.40,000 and the shopping limit is Rs.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 :Rs. 5,000 AQB	Metro/Urban:Rs. 25 per Rs. 500 of shortfall, Max Rs. 350 for quarter;
Semi Urban/Rural : Rs. 2,500 Quarter	Semi Urban/Rural: Rs. 25 per Rs. 500 of shortfall, Max Rs. 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): Rs. 100 Annual Fee (Primary Holder): Free for first year, Rs. 150 from subsequent year
Withdrawal Limit	ATM Rs. 40,000 per day
Per Transaction Limits	Rs. 20,000 (own Bank ATM) Rs. 10,000 (other Bank ATM)
Shopping Limit	POS Rs. 1,00,000 per day
Per Transaction Limits	POS Rs. 25,000
ATM Transactions	Unlimited Free Transactions
Other ATM Card Charges	PIN Regeneration Charges - NIL (Green Pin) Card Replacement Charges - Rs. 150 Add on charges - Rs. 100

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

DD/PO transactions

Demand Drafts Payable at own Bank locations:
Upto Rs. 2,000 Rs. 20
AboveRs. 2,001 upto Rs. 10,000 Rs. 50
Above Rs. 10,000 Rs. 2 Rs. 1,000
(Min Rs. 60 & Max Rs. 1,500)

Payable at corresponding bank locations:

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

FAQs

Fees and Charges

Schedule of Charges: Standard Savings Account
AQB Requirements	AQB Non-Maintenance Charges
Metro/Urban :Rs. 5,000 AQB	Metro/Urban:Rs. 25 per Rs. 500 of shortfall, Max Rs. 350 for quarter;
Semi Urban/Rural : Rs. 2,500 Quarter	Semi Urban/Rural: Rs. 25 per Rs. 500 of shortfall, Max Rs. 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): Rs. 100 Annual Fee (Primary Holder): Free for first year, Rs. 150 from subsequent year
Withdrawal Limit	ATM Rs. 40,000 per day
Per Transaction Limits	Rs. 20,000 (own Bank ATM) Rs. 10,000 (other Bank ATM)
Shopping Limit	POS Rs. 1,00,000 per day
Per Transaction Limits	POS Rs. 25,000
ATM Transactions	Unlimited Free Transactions
Other ATM Card Charges	PIN Regeneration Charges - NIL (Green Pin) Card Replacement Charges - Rs. 150 Add on charges - Rs. 100

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

DD/PO transactions

Demand Drafts Payable at own Bank locations:
Upto Rs. 2,000 Rs. 20
AboveRs. 2,001 upto Rs. 10,000 Rs. 50
Above Rs. 10,000 Rs. 2 Rs. 1,000
(Min Rs. 60 & Max Rs. 1,500)

Payable at corresponding bank locations:

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

For complete details on Fees and Charges, please click here