United Bank of India (UBI) Savings Account gives the customers an exquisite banking experience. There are different types of savings bank (SB) acc. for regular customers, senior citizens, pensioners, non-pensioner senior citizens, women, minors, salaried individuals, and other entities. The bank offers a 3.50% interest rate maximum on the standard account. There are options for auto-sweep and reverse-sweep, higher interest-earning schemes, and other facilities.
In this post, we will discuss UBI Savings Account Interest Rate, Types of SB Accounts (eligibility and features), and frequently asked questions.
NOTE: UBI has been amalgamated with Punjab National Bank (PNB), with effect from 1 April, 2020. The new customers can refer to the updated details of the SB account by visiting the official website of PNB.
Here are details about UBI Savings Account Interest Rate:
Here are the top 4 types of UBI Savings Account:
The United Bank Regular Savings account comes with several facilities such as Nomination, cheque book/Passbook, ATM-cum-Debit Card, Standing Instruction for fund transfer to another account, instant credit up to Rs. 15,000 for outstation cheque collection, Safety lockers or safe custody of articles. Also, under the United Suraksha Scheme, a person can get insurance coverage with up to Rs. 1.25 lakhs benefit on paying a premium of Rs. 17 per year.
Here are the eligibility norms:
The UBI Basic Savings Account is for the unbanked population who do not or cannot avail of the basic banking facilities because of the service charges or minimum balance requirement. This is a zero-balance account. Every branch of the bank will offer this savings account. All KYC norms will apply to the acc. The account is transferable to a normal SB account after the necessary KYC verification.
The target group includes industrial/agricultural labourers or families in rural/urban areas. Also, the account is available for non-pensioner senior citizens. One can opt for the nomination facility.
Here are the details:
A minor can open an SB account in their name at UBI. Also, he/she can operate it solely. The minimum age limit for the applicant is 10 years or above. The intention of the acc. is to inculcate the habit of savings and banking among children. The applicant has to submit the duly filled and signed an account opening form. On the top of the acc. there the rubber stamp will read as ‘United Children Savings A/c.’ A nomination facility is available. You can deposit in the SB account through a pay-in-slip.
UBI has a savings scheme to boost liquidity for savings acc. customers. The scheme combines the benefits of the SB account as well as the interest of an FD (Fixed Deposit) acc. When opening the UBI Saving Account, the deposit will receive an in-built arrangement. This facility is the permission to automatically transfer the balance over a certain amount to the FD account. The transfer is for a specific period as per the instruction of the acc. holder. The FD amount will earn the Term Deposit rate as set by the bank.
Here is more about the product:
Here are the UBI Savings Account FAQs:
Here is the information:
Here is a list of the respective entities:
Here is more information:
Here are the respective details:
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