United Bank Savings Account

Along with 14 other banks, the United Bank of India (UBI) came to be nationalized in the year of 1969 on 19th July. In 1950, it was a combination of four banks namely Hooghly Bank Ltd. (1932), Comilla Union Bank Ltd. (1922), Bengal Central Bank Ltd. (1918), and Comilla Banking Corporation Ltd. (1914). Thus the bank was born as early as in the 1914.

However in July 1969, at the time of nationalization, the bank had just 174 branches with a total deposit of Rs 147 crores and advances of 112 crores; today the bank has reached a 100% mark in CBS enabled for 1999 branches and offices with a total business of over two lakh crores. The bank has a three tier organizational structure consisting of HO (Head Office), 35 ROs (Regional Offices) and branches.

What are the Eligibility Criteria and Provisions?

Any individual or a group of individuals can open a saving account with the bank, may be singly or jointly, whatever the case may be. As far as the operation of joint account is concerned, it can be mandated by the account holders to be operated jointly/ severally, either or survivor, former or survivor, etc, as per requirements.

Accounts to be opened on the name of minors need to be operated by parents, however minor after the attainment of the age of 13 years can operate the account individually. The bank has also the provision of opening up of accounts of illiterates and blinds. Along with them, clubs, societies and associations can also open an account with the bank.

Entities debarred from opening Saving Bank account:

  • Government Departments
  • Bodies which depend upon budgetary allocation for functions performance
  • MC or committees
  • Panchayat Samities
  • State housing boards
  • State text book publishing corporations
  • Water, sewerage and drainage boards
  • Metropolitan development authority
  • State/ district level housing societies
  • Traders/ businesses/ professionals

With cheque book facility, one needs to maintain a minimum balance of Rs 500 in all areas, however if such facility is not availed, then for rural branches there is a need of maintaining a minimum balance of Rs 50 and in rest areas Rs 100. However, some categories like pensioners, visually handicapped, senior citizens, women, industrial/ agricultural labourers, etc, are given relaxation from maintaining any minimum balance.