Union Bank Regular Savings Account

Union Bank of India Savings Bank Deposits	Rate of Interest (p.a.)
For balances up to Rs. 50 Lakh	2.75%
> Rs. 50 Lakh to Rs. 100 Crore	2.90%
> Rs. 100 Crore to Rs. 500 Crore	3.10%
> Rs. 500 Crore to Rs. 1000 Crore	3.40%
Above Rs. 1000 Crore	4.00%

Note: Interest rates are updated as on 11th September 2024.

The table down below displays the minimum balance required at various places be it rural, urban or any.  Charges are very minimal and are most reasonable for pensioners.

Branch	With Cheque Book	Without Cheque Book
For Pensioners	Rs. 250	Rs. 20
Rural	Rs. 250	Rs. 100
Semi-Urban	Rs. 500	Rs. 250
Urban	Rs. 1000	Rs. 500
Metro	Rs. 1000	Rs. 500

As written earlier, features provided by union bank of India regular savings bank account are virtually endless. Some of those are listed below.

Particulars	Feature
Minimum Balance Requirements	Low minimum balance requirements Zero balance account for students
ATM Debit Card	Free ATM card with rewards points facility
Insurance Facility	Free accidental cover for all debit card holders
ATM Banking, Branch Banking, Phone Banking and Internet Banking	Yes, available
Nomination Facility	Yes, available

Benefits of Union Bank of India Regular Savings Bank Account

Easy to open and simplest option for depositors Free ATM cum debit card 20 free checkbook leaves per year New generation banking facilities such as anytime-anywhere banking through phone, internet, ATM and branch banking Tabulous banking i.e.  a tablet-based account  opening process for a regular savings account Easy and self ATM pin generation by the account holder. Just call on the free IVR number from your registered mobile number U-Mobile facility for balance inquiry, bill payments, NEFT transfers, mobile recharges, etc. on a mobile phone Debit cardholders can earn reward points on every debit card spend.

• Indian residents for single and joints account
• Visually impaired persons
• Illiterate persons
• Purdanasheen Ladies and minors
• Registered and particularly permitted clubs, trusts, societies, associations, agencies, institutions, etc. by the Reserve Bank of India (RBI).

Here is the list of documents an applicant will need to open Union Bank of India Regular Savings Bank Account:

Proof of ID

• Aadhar or Aadhar enrolment number
• PAN Card or form 60 in case PAN card is not available (Mandatory)

Other valid documents in case of Aadhar enrolment number or applicant not eligible for Aadhar

• Passport
• Driving License
• Voter or election identity Card issued by the Election Commission of India
• Photo ID or job card issued by the NREGA and signed by the State Government’s officer
• A letter/document issued by the National Population Register for details of Name, Address, etc. as notified by the Central Government.

Proof of Address*

• Utility bills (electricity, water, gas, mobile phone, telephone, etc.) should not be older than 2 months
• Receipt of municipality or property tax
• Letter of accommodation allotment from the employer issued by the Central or State Government departments, Public Sector Undertakings (PSUs), regulatory or statutory bodies, financial institutions, scheduled commercial banks, and listed companies
• Family pension or individual pension payment orders (PPOs) issued by the PSUs or Government Departments to the retired employees, if the address is mentioned.

*In most cases, the address can be implied from the documents eligible to be a valid ID

Along with these documents, a duly filled application form and passport size photographs will be needed.

A different set of documents will be needed if the applicant is not an individual or a joint account applicant but is a firm, club, society, trust, etc. Look at the following table to know more about this:

Type of Applicant	Documents Required
Trusts	Trust deed certification of registration Address proof same documents as listed above for individuals Address proof of the trustees Passport size photographs of all trustees and authorized persons
Companies and Corporations	ID proof and address will be same as listed for individuals Memorandum/articles of association Certificate of incorporation List of current directors along with their bio, etc.
Societies, Clubs, Associations, NGOs and Other Organisations	Registration certificate Names of all managing committee members along with their bio-data ID proof will be same as listed for individuals Valid address proof of address of the committee members and other authorized persons Latest passport size photographs of all authorized or committee members
Partnership Firms	Partnership deed Certificate of registration Identity proof in respect to the person who is holding an attorney Address proof of all partners listed for individuals Passport size photographs of all partners
Government Departments, Local Bodies, etc.	Resolution/permission letter/notification for opening and allocation of the concerned authority to open/operate the account Identity proof will be same as listed for individual account Authorised officials’ address proof Latest passport size photographs of all authorized officials

After you got your documents ready, the next step is to approach the bank which can be done either online or offline.

ONLINE

1. Download “Union Selfie & M-passbook” from play store on an Android-powered smartphone. Take your selfie and scan your Aadhar and pan card on the app. An account number will be generated instantly which can be activated once you visit the branch with original documents for verification
2. You can also initiate the process by visiting the union bank savings account page and fill the online form. Once it’s received, you will need to go to the branch for further verification.
3. For the very nascent yet innovative tabulous banking or banking through a tablet, give a missed call at 922-300-9696 and the bank officer will visit your place  and open your account.*

* This facility is available at selected centers for now.

OFFLINE

To open your account offline, you can visit the nearest branch of the bank with the copies and originals of your KYC documents for verification and open your savings account without any hassles.