All Indian residents, including clubs, organizations, and societies, are eligible to open a Union Bank of India Savings Account. The bank also provides competitive interest rates as well as various perks, such as net banking. It also provides zero-balance accounts to students.
Here we will talk about Union Bank of India saving account opening process, interest rates, features and types of Union Bank of India Savings Account.
Following is a detailed table representing Union Bank of India Savings Account Interest Rate-
Tenure |
Union Bank of India Interest Rates on Saving Account |
7-14 Days |
3.50 |
15 - 30 Days |
3.50 |
31 - 45 Days |
3.50 |
46 -90 Days |
4.50 |
91 -120 Days |
4.80 |
121-180 Days |
5.00 |
181 Days to < 332 days |
6.35 |
333 days |
6.35 |
334 days to < 1 year |
6.35 |
1 year |
6.80 |
>1 year to 398 Days |
6.80 |
399 Days |
7.00 |
400 days to 455 days |
6.60 |
456 days |
7.30 |
457 days to 2 years |
6.60 |
> 2 year to 996 days |
6.60 |
997 days |
6.40 |
>998 days to less than 3 Years |
6.60 |
3 years |
6.70 |
> 3 Year to 5 years |
6.50 |
>5 Years to 10 Years |
6.50 |
This is a primary savings bank account that has all of the fundamental banking functions of a savings bank account.
The following are the eligibility requirements for a Savings Account-
To open an account, the applicant needs to go to the nearest branch. To start a savings bank account, the applicant must be introduced by an existing SB A/c or Current Account holder who has held a satisfactory account with the bank for the past six months or longer.
Charges |
Amount (Rs.) |
NEFT Outward charges |
Rs. 3 to Rs. 29 |
RTGS Outward charges |
Rs. 29 to Rs. 63 |
Electronic Cleaning |
Rs. 4 per transaction |
Cheque Book Order |
Rs. 4 per leaf |
Passbook |
Rs. 62 per folio |
SMS Banking |
Rs. 15 per quarter |
Customer induced debit entries |
Rs. 17 |
Standing instructions |
Rs. 58 |
Account closure |
Rs. 173 |
Following are the various types of Savings Accounts that can be opened at Union Bank of India-