Ujjivan Bank Saving Account

Last Updated 01st Jun 2020

Ujjivan Small Finance Bank Savings Account Interest Rate India Jul 2020

Ujjivan Small Finance Bank Ujjivan Bank Regular Savings Account
Interest Rate Upto Rs. 99,999 : 4.00%
Rs. 1 Lakh to Rs.5 Lakh : 5.00%
Rs. 5 Lakh to Rs.50 Lakh : 5.25%
Rs. 50 Lakh to Rs.5 Cr : 6.25%
Rs. 5 Cr to Rs.100 Cr : 6.50%
Rs. 100 Cr to Rs.0 : 0.00%
Above Rs. 0 : 0.00% annually Check Best Schemes
Debit Card Rupay Classic
  • No Average Monthly Balance criteria.
  • NEFT, RTGS, IMPS and Funds Transfer facilities available.

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Ujjivan Bank Online Saving Account

Ujjivan Small Finance Bank was established as NBFC in 2005 to provide a complete range of financial services to lower and middle-income groups. On October 7th, 2015 it got approval from the Reserve Bank to start its operation as a Small Finance Bank. It deals with various financial instruments such as savings account, current account, fixed deposits (FD), recurring deposits (RD), Micro Loans, Home Loans & Small Business Loans.

Saving Account in Ujjivan Bank – Benefits

You get the following benefits while opening Savings Account with Ujjivan Bank

Nomination facility Yes
Passbook facility Yes
Chequebook facility Yes
Issuance of Debit Card Yes
Internet Banking Yes
Mobile Banking Yes
Fund Transfer Yes
DD Pay Orders Yes

Ujjivan Bank Saving Account – charges

Balance non maintenance charges : NIL
ATM Charges: 6 free transactions and after that Rs. 20 for per financial transaction and Rs. 10 for per non-financial transaction

Ujjivan Bank Savings Account

Ujjivan Small Finance Bank offers an interest rate of 0.00% - 6.50% p.a. Ujjivan Small Finance Bank also offer accounts to meet the specific requirements of salaried, women, kids and senior citizens.

Product Name Minimum Age Minimum Balance Required
Ujjivan Bank Digital Savings Account 18 Years N.A
Ujjivan Bank Regular Savings Account 18 Years N.A
Ujjivan Bank Privilege Savings Account 18 Years N.A
Ujjivan Bank Senior Citizen Savings Account 60 Years N.A
Ujjivan Bank Minor Savings Account 18 Years N.A
Ujjivan Bank Basic Savings Bank Deposit Account 18 Years N.A

Ujjivan Bank Savings Account Products

Ujjivan Bank Digital Savings Account

Ujjivan Finance Bank to increase the customer base introduced Ujjivan Bank Digital Savings Account. Under this, customers can open their accounts within minutes and can experience an excellent banking experience.

Indian resident of 18 years of age and above

Features of Ujjivan Bank Digital Savings Account

  • No minimum balance required.
  • Accidental insurance available

Debit Card Offered : Rupay Classic

Cash Withdrawal Limit : Rs. 25,000

Balance Non Maintenance Charges : NIL

Ujjivan Bank Regular Savings Account

Ujjivan Bank Regular Savings Account pays a modest interest rate, its reliability and safety make it an excellent option for parking money one wants for short-term needs.

Indian resident of 18 years of age and above

Features of Ujjivan Bank Regular Savings Account

  • No Average Monthly Balance criteria.
  • NEFT, RTGS, IMPS and Funds Transfer facilities available.

Debit Card Offered : Rupay Classic

Cash Withdrawal Limit : Rs. 25,000

Balance Non Maintenance Charges : NIL

Ujjivan Bank Privilege Savings Account

Ujjivan Bank Privilege Savings Account is designed for a specific category. One can open an account under this only if he fulfills the minimum amount required in saving or fixed accounts or earns a minimum salary.

Indian resident of 18 years of age and above

Features of Ujjivan Bank Privilege Savings Account

  • NEFT, RTGS, IMPS and Funds Transfer facilities available.
  • Higher accidental insurance up to Rs. 2

Debit Card Offered : Rupay Classic

Balance Non Maintenance Charges : NIL

Ujjivan Bank Senior Citizen Savings Account

Ujjivan Bank Senior Citizen Savings Account is targeted towards the senior citizens. It provides a high-interest rate and excellent banking experience.

Indian residents above age 60 years

Features of Ujjivan Bank Senior Citizen Savings Account

  • NEFT, RTGS, IMPS and Funds Transfer facilities available.
  • No Average Monthly Balance.
  • No Minimum balance charges

Debit Card Offered : Rupay Classic

Cash Withdrawal Limit : Rs. 25,000

Balance Non Maintenance Charges : NIL

Ujjivan Bank Minor Savings Account

Ujjivan Bank Minor Savings Account offers Bachpan which is a Saving account for children. It also serves the purpose of inculcating in children the habit of saving.

Indian resident of 18 years of age and above

Features of Ujjivan Bank Minor Savings Account

  • No Average Monthly Balance.
  • Account can be opened jointly with guardian only.
  • Account is maintained byguardian till the minor becomes major.
  • Have the option of converting the account into a Regular Savings Account when the minor turns major.
  • NEFT, RTGS, IMPS and Funds Transfer facilities available.

Debit Card Offered : Rupay Classic

Cash Withdrawal Limit : Rs. 25,000

Balance Non Maintenance Charges : NIL

Ujjivan Bank Basic Savings Bank Deposit Account

Ujjivan Bank Basic Savings Bank Deposit Account allows you to deposit money, keep it safe, and withdraw funds all while earning interest.

Indian resident of 18 years of age and above

Features of Ujjivan Bank Basic Savings Bank Deposit Account

  • No Average Monthly Balance.
  • Option of opening account single or joint
  • NEFT and IMPS facilities available.

Debit Card Offered : NA

Cash Withdrawal Limit : No limit

Balance Non Maintenance Charges : NIL

Documents Required

Ujjivan Small Finance Bank requires the following documents to open a Savings Account

  • Know your Customer or KYC document, application Form and photograph

Frequently Asked Questions on Ujjivan Small Finance Bank Savings Account

How much interest is charged by Ujjivan Bank on Savings Account?

Ujjivan Bank offers an interest rate of 0.00% to 6.50% on Savings Account.

What are the balance non - maintenance Charges on Ujjivan Bank Savings Account?

The Balance Non Maintenance Charges on Savings Account by Ujjivan Bank are NIL.

What are the Ujjivan Small Finance Bank ATM Transaction charges on Savings Account?

Ujjivan Bank ATM Transaction charges on Savings Account are 6 free transactions and after that Rs. 20 for per financial transaction and Rs. 10 for per non-financial transaction .

How does Ujjivan Bank calculate interest charged on Savings Account?

Interest on Savings Account is calculated on Quarterly basis. The following formula is used by Ujjivan Small Finance Bank to calculate interest on Savings Account.

Monthly interest=Amount (Daily balance)*(No of days)* Interest/Days in the year

Does Ujjivan Small Finance Bank offer Debit Card to the account holder?

Yes, various Debit Cards are offered, differing according to the product. Some of the popular savings account products of Ujjivan Small Finance Bank with the type of debit card offered are listed in the table below.

Ujjivan Bank Digital Savings AccountRupay Classic
Ujjivan Bank Regular Savings AccountRupay Classic
Ujjivan Bank Privilege Savings Account Rupay Classic
Ujjivan Bank Senior Citizen Savings AccountRupay Classic
Ujjivan Bank Minor Savings AccountRupay Classic
Ujjivan Bank Basic Savings Bank Deposit Account NA

Interest rate on all Ujjivan Small Finance Bank deposits products listed in the table above is 0.00% to 6.50%

What is the withdrawal limit of the account?

The withdrawal limit offered in Ujjivan Small Finance Bank is Rs. 25,000

What is the eligibility criteria to open a savings account in Ujjivan Small Finance Bank
  • Indian resident of 18 years of age and above
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