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IDBI Bank Savings Account | Interest Rate and How To Apply

August 1, 2018 / Leave a comment

The IDBI is a Government-owned bank, which was established in the year 1964 by the Act of the Parliament. The bank provides credit and banking facilities for the development of Indian industries. Currently, the Bank has a network of 3817 ATMs, 1995 Branches including one overseas Bank in Dubai and 1382 Centers.

The bank offers a wide range of products and services, such as Consumer Banking, Corporate banking, Finance and Insurance, Investment Banking, Mortgage Loans, Private Banking, Private Equity and Wealth Management. One of the most important and basic services that IDBI Bank offers is the Savings Account, which we are going to talk about in this article.

Savings Account – A Brief Introduction

Savings is very important in every people’s life. Starting from a poor person to a rich person. It is necessary if you are planning to live a happy life. The savings account are introduced so that the depositors can earn interest on their money that they put in the account. Though you cannot use the money in savings account directly, so it is an ideal way to keep aside a part of your liquid assets for the future. The work function of the savings account is to translate to more interests and gain quick accumulation of money. For having a savings account there are different rules, systems, interest rates and minimum balance requirements etc. Therefore think before you pick one.

The IDBI Savings account offers you the best financial solutions with various options to manage your money sensibly and systematically.

How to Open An IDBI Savings Account Online

To open an IDBI Savings Account is quite easy. All you have to do is to call or visit the nearest IDBI Bank Branch Office, and the staff official will guide you through the process. The Bank also offers an online mode of applying as well. For the online process, you will have to visit the official website and submit the online filled application form.

IDBI Bank Savings Account Interest Rate

The Savings Bank Rate	4 percent
Base Rate	10 percent
Current BPLR	14.5 percent

IDBI Savings Account Minimum Balance Requirement

Suraksha Plus Savings Account	Rs 5000
Super Savings Account	Rs 5000
SuperShakti Account (for women)	Rs 5000
Jublee Plus Account (for senior citizens)	Rs 0
Being me account	Rs 2500
Power Kidz Account	Rs 1500
Small Account (KYC Related)	Rs 0
Sabka Basic Savings Account (Complete KYC)	Rs 0
Pension Savings Account (Central Government Employee)	Rs 0
Capital Gain Account Scheme	Rs 10, 000

Features and Benefits of Having an IDBI Savings Bank Account

The various features and benefits of an IDBI Savings Account are as follows:

The bank provides quicker fund transactions through the online facilities to pay the bills and taxes.
It is a smart way to accumulate money, as you can earn more interest by opting for a suitable IDBI Savings Account when compared to other bank options.
A Global Debit card and a passbook are issued to the cardholder, for opening an account.
You can easily deposit DD (Demand Draft), Cash and Cheque.
Along with the saving options, you get add-on benefits, rebates, and gifts on travel.

Types of Savings Account in IDBI Bank

The Bank offers different types of the savings account as per the requirements of an individual. Below are the types of the savings account that you can apply for:

Suraksha Plus Savings Account

This savings account provides an exclusive benefit of Insurance Cover along with a complete banking convenience and financial package to access your money with an ease. Through this account, you can also enjoy the benefits of the Accidental Death Cover and Life Cover at a minimal cost.

It provides insurance benefit for the individuals who are aged between 18 years to 65 years.
The accidental insurance cover starts at a package of Rs 100.
Life Insurance Cover starts with a package of Rs 413.
No medical test is required for the Life Insurance Cover
There is no separate documentation cover for Life Insurance
There are no penalty charges for the discontinuation of the Insurance.
No Separate Nomination Required for the Insurance.
Automatic Renewal of cover after every year.
Including all the benefits of the Super Savings Account.

The account holder of this account can enjoy other different benefits as well. The minimum balance requirement in the Metro and Urban Cities is Rs 5000 and Rs 2500 in the semi-urban cities and Rs 500 in the rural cities. An International Debit cum ATM Card is provided along with passbook facility.

Super Savings Account

The Super savings account offers to the complete banking experience to access your money with ease. With this account, you not only save your money but also make it grow.

The advantages of this account is that

Online facilities are available through which you can transfer your funds faster.
You can earn higher and attractive interests.
An International Debit Card along with the passbook facility is available for the account holders.
You can make easy payments
The minimum balance requirement in the Metro and Urban Cities is Rs 5000 and in semi-urban cities Rs 2500 and for Rural Cities, the minimum balance is Rs 500 for Rural Cities. The bank also provides free five ATM Transactions from other banks ATMs and Non-Metro Locations.

SuperShakti Savings Account

This type of savings account is specially designed for women. This is a zero balance savings account and is absolutely free for the children below the age of 18 years. The advantages of these accounts are:

You can create two free accounts for your children below the age of eighteen years.
Minimum documents required while applying for a savings account.
Online facility is available for faster funds transfer.
Minimum balance for metro and urban cities is Rs 5000, for semi-urban cities is Rs 2500 and for rural cities, the minimum balance is Rs 500.
Provides auto sweep- out and sweep-in facility above Rs 15, 000.
Provides a specially designed (Women’s) International ATM cum Debit card
Higher ATM cash withdrawal Limits- Rs 40, 000 per day.
Offers Personalized PAP- Cheque Book.
25% of the Locker Services.
50% account on the Demat AMC.
Free statement by e-mail.
Offers free ATM Transactions from any other banks.

Jublee Plus Account

This type of savings account is specially designed for the senior citizens. This facilitates your banking transactions and offers benefits and facilities to fulfill the requirement of the customer. You not only save money on this account but also help your money grow through the auto sweep-in and sweep-out facility.

This type of savings account offers zero balance requirement.
25% discount on the locker charges.
Sweep-in and Sweep-out facility is available for the balance above Rs 15, 000/-
Higher ATM Cash withdrawal limits- Rs 50, 000 per day.
Free ten transactions for other Bank ATMs.

Being Me Account

This type of savings account is mainly designed for the Youth. The objective of this type of account is to establish a bond with the Youth and help them to shape up their financial discipline.

The advantages of these savings account are:

It offers a preferential rate on the educational loan.
Preference on the project work in the Bank (depends on the availability of the seats)
Training on Financial Planning.
Offers discounted charges on the opening of share account with the ICMS.
The other features and benefits of this account are as follows:
Requires a minimum balance of Rs 2500 for opening this account.
There are no charges for the maintenance of MAB.
The account holders will receive an International Debit-cum-ATM Card.
The ATM Cash withdrawal limit and Point of Sale Limit is Rs 25, 000 per day.
Provides free five ATM Transactions from other bank ATMs.
Passbook is optional.
Transfer of funds is optional.
Online facilities are available to pay the bills and tax.

PowerKidz Account

This account is specially designed for the kids. It is just like the piggy bank for the kids, which will not only provide the money but also provides attractive interest rates that will help the money grow. The different features and benefits that are offered in the Power Kidz Account are:

It allows a MAB of Rs 500.
There are no charges for non-maintenance of MAB.
The account holders are provided with a specially designed Kids ATM Card.
Offers a withdrawal limit up to Rs 2000 at ATMs or POS.
A Personalized Cheque Book is provided.
The account holder will receive free monthly statements via e-mail on request.
Gets a free passbook.
Demand Drafts and Pay Orders are on request.
Free Five ATM Transactions at any other Bank ATMs at Non- Metro Locations.
Documents Required for applying a PowerKidz Account:

List of Documents Required for Opening a Power Kidz account are –

I S A of a Guardian.
Minor Documentation to be signed by the Guardian.
Guardian’s photograph and signature required on AOF.
Only natural guardian’s as per the law is acceptable, otherwise, the guardian should be a person who is appointed by a court of law.
Two minors or two guardians not allowed in a minor account.

For Minor Date of Birth Proof

Birth Registration Certificate
Passport
Report Card showing the Date of Birth.
School ID with Photo and Date of Birth mentioned.
Authentication and Certification:
Minor Declaration to be signed by the Guardian.
All the supporting documents to be signed by the customer that is the self-attestation and the officer verifying the original documentation.
If Minor above 10 years and he himself operates the account, his/her photo is required.
On attaining the minority, the accounts will be frozen and the freeze will be removed only after the submission of the documents.

Small Account (KYC Related)

This is a small savings account that is meant for everyone. It offers zero balance account. It offers free ATM cum Debit Card along with a cheque book. Offers SMS and E-mail Alerts for any transactions occurring in the account. The account offers facilities such as Phone Banking, SMS Banking and Internet Banking that will allow accessing your account from anywhere and anytime.

Sabka Basic Savings Account (Complete KYC)

This type of savings account is an SB Product that does not require a minimum balance. Through this type of savings account, the bank intends to extend its services to a vast section of the population for Financial Inclusion. The account holders of this savings account are provided with a free International Debit cum ATM card. This type of account offers free SMS and e-mail alerts for any transaction in the account. Also provides free account transaction statements via e-mail. No charges for any branch (Home and Non-Home Branch) cash deposit, which means that you don’t have to pay any amount of the cash deposit at any branch.

Pension Savings Account

This is one of the most important account which is specially designed for the future requirements. With this account, you can bank anywhere and anytime. You can avail special privileges, easier and quicker transactions and value-added services with exclusive offers to experience a convenient and hassle-free banking.

There is a zero- balance account and the account holder receives an International Level ATM cum Debit card along with a personalized multicity cheque book. The first five transactions at other bank ATMs at Non-Metro locations are free.

Capital Gain Account Scheme

The IDBI Bank has authorized to accept deposits under the Capital Gain Accounts Scheme. The scheme offers facilities to make an investment in order to save Capital Gains Tax. It offers capital investment in the residential house, flat, shares, family business, farm houses, agriculture land etc. under the Central Government Capital Gains Scheme, 1988.

The Capital Gains Account Scheme can be availed by the following individuals:

Resident Individual
Body of individuals
Non-Individuals like Hindu Undivided Families (HUF)
Sole Proprietorship Firms
Partnership Firm Companies
Association of Persons etc.
The minimum account balance for this type of account is Rs 10, 000 and the maximum amount of deposit are Rs 100 Crore.

What are the ATM Transaction Charges

There are no transaction charges when you use an IDBI ATM. The first five transactions in the other bank ATMs is not charged. After that, a small fee charge of Rs 20 will be deducted from the account while withdrawing money and Rs 8 will be deducted from checking the balance.

Karnataka Bank Savings Account | Types and Benefits

January 23, 2018 / Leave a comment

Karnataka Bank is one of the major banking institution located in Mangaluru, Karnataka. The Reserve Bank of India has denoted Karnataka Bank as the A1+ Class Scheduled Commercial Bank. Currently, the Karnataka Bank has a wide network of 781 Branches, 1382 ATMs and 123 mini e-lobbies/ e-lobbies across 22 States and 2 Union Territories. The Tagline of the Bank is “Your Family Bank Across India”.

The Bank offers its customers a wide range of products and services out of which, the savings account is the most used one. In this article, we will be discussing the Karnataka Savings Account., its types, and features of each account.

Types of Karnataka Savings Account

The Karnataka Banks has a wide variety of savings account as per the needs and requirements of the customers.

The types of Savings Account of Karnataka Bank are as follows:

KBL Vanitha
KBL Kishore
KBL Tarun
KBL Salary Privilege
SB GEN (General)
SB Money Sapphire
SB Money Ruby
SB Money Platinum
Insurance-Linked Savings Account
SB Sugama
SB Small
SB- Namitha

Now, Let’s have a detailed look at these above savings account.

KBL Vanitha

This account is specially designed for the women. This savings account offers an interest rate of 4% on the daily balance; interest paid quarterly. The account holder of this account is provided with a Visa Debit Card.

The Features and Benefits of KBL Vanitha Savings Account are:

This account can be opened by any woman whose age is 18 years or above. You can even open the joint accounts as well.

You can also start with “Zero” opening deposit and you don’t have to care about maintaining a minimum balance.

Average Monthly Balance Requirement is Rs 1000.

Through this account, you will also get a cover for your jewelry in case any snatching or theft event has taken place. The cover given will be up to Rs 50, 000.
You can transact funds up to Rs 50, 000 every month free of charge to the accounts.
Through this account, you can avail multiple branch banking facilities.
You can enjoy many privileges such as Money Plant VISA Global Debit Cards.
It provides facilities such as Mobile Banking, Internet Banking, RTGS/NEFT as well as free online payments or transactions.
You can also get free SMS Alerts about your transaction records and activities.

KBL Kishore Savings Account

This Savings account is specially designed for the students aged between 12 to 18.

The Features and Benefits of this Savings Account are as follows:

There is no requirement to maintain a specified minimum balance.
The procedure for opening this account is quite simple and quick.
The bank does not charge if you are sending Demand Draft to your University/ College/ Institute to Pay Tuition Fee, Prospectus Fee or Exam Fee.
Allows funds transfer transactions for up to Rs 50, 000 every month (from the account of parent or guardian of the student).
You can avail multiple branch banking facilities.
Enjoy privileges such as Money Plant VISA Golden Debit Cards.
You can also get free SMS Alerts about your transaction records and activities.
You can avail a “daily” money withdrawal limit of Rs 5000 and shopping (Pos or E-Commerce Portals) limit of Rs 1500.
Offers “Net Banking Feature” called “Cyber Kid”.

KB Tarun

The KB Tarun Savings Account is specially designed for the students who are aged between 18 to 25 years and this account can be operated at any branch.

The Features and Benefits of this Savings Account are as follows:

No specific minimum balance required.
Account opening procedure is quick and simple.
The bank does not charge any amount if you want to send any Demand Draft to your University/College/ Institute to Pay Tuition Fee, Prospectus Fee or Exam Fee etc.
Through this account, you can avail multiple branch banking facility and multi-city Cheque facility.
Provides Add-On Privileges such as Money Plant VISA Golden Debit Cards.
You can also get free SMS Alerts and monthly e-mail alerts, to keep the record of the transaction activities.
Demand Drafts can be bought at any Karnataka Branch.
You can avail free checkbooks and can enjoy the benefit of quick processing of cheques.

KBL Salary Privilege

This type of account is specially designed for the salaried individuals.

The Features and Benefits of this Savings Account are as follows:

There is no need to maintain any minimum balance for this account.
You can easily deposit or withdraw amount at any branch. You can also avail the multiple city cheque facilities as well.
Allows free transactions to a certain limit.
You can also avail multiple branch banking facility and multi city-cheque facility.
You can enjoy privilege such as Money Plant VISA Golden Debit Cards.
Offers Net-Banking, Mobile Banking, RTGS/NEFT Funds Transfers, as well as online payment is enabled free.
You can receive free SMS Alerts and E-mail Notifications regarding your Transaction Activities.
The Demand Drafts can be bought at any Karnataka Bank Branch.
You can avail free checkbooks and enjoy the benefit of quick processing of cheques.

Insurance-Linked Savings Account

The Insurance Linked Savings Account includes Personal Accident/ Hospitalization Cover. The account holder is provided with a Visa Debit Card.

The Features and Benefits of the Insurance Linked Savings Account are as follows:

You can avail this facility for your prevailing savings account as well as for the one you are opening the account for.
A Minimum Balance of Rs 15, 000 is required to be maintained, if your account is in a metro branch and Rs 10, 000 is maintained if your account is maintained in any semi-urban or rural bank branch.
A personal accident cover worth of Rs 2 Lakhs is provided to the account holder.
Provides Hospitalization Benefits such as Check-up. Medicines and Tests up to Rs 10, 000.
The Accident Insurance Cover will start from the 31st day of starting of your Karnataka Bank Branch.
If it is a Joint Account, then only the primary account user is protected and not both the stakeholders.

SB General Scheme Savings Account

This type of savings account offers additional perks. The Features and Benefits of this account are as follows:

An average monthly balance of Rs 1000 must be maintained along with the checkbook and Rs 200 must be maintained without a checkbook. A penalty of Rs 50 will be charged if the minimum balance is not maintained.
Provides facilities such as Mobile Banking, Internet Banking, RTGS/NEFT as well as Online Payment is enabled free.
The account holder can receive free SMS and E-mail Alerts which will help you to track your transaction activities.

SB Sugama Savings Account

The SB Sugama Savings Account is a simple basic savings Bank Deposit Account. The average monthly balance requirements for the Metro Cities is Rs 200, for Urban Cities is Rs 150, for Semi-Urban Cities- Rs 100 and for Rural Cities the minimum balance required is Rs 50/-.

The Features and Benefits of SB Sugama Savings Account are as follows:

Any Individual who wants to keep less than Rs 50, 000 in their account balance (includes Term Deposit Account such as CD, ACC, FD etc.) and an overall credit in all the accounts together must not be more than Rs 1 Lac annually.
Offers Six Cash Withdrawals monthly via Bank withdrawal slips, Further withdrawals will be charged to Rs 10.
You can also collect the outstation cheques for free.
Provides Free Passbook, Chequebook, and Nomination
With this account, you will not be provided with an ATM/Debit card facility, multiple branch banking facility and Instant Crediting of the cheques.

SB Money Platinum

The SB Money Platinum is a savings account that offers a plenty of additional perks. The average monthly balance requirement for this account is Rs 3 Lakhs and the account holder will be provided with a Visa Debit Card.

The Features and Benefits of this Savings Account are as follows:

The account offers an average monthly balance of Rs 3 Lakhs.
Provides free Monetary Transactions from one account to another account of the same or the account holder of the other bank within KBL or across banks.
You will not be provided with facilities such as Multiple Branch Banking and Instant Crediting of Cheques.

SB Money Sapphire

This is a customized savings account which offers a plenty of complementary features, facilities, and benefits. The average monthly balance requirement is Rs 10, 000.

The features and benefits of SB Money Sapphire Savings Account are as follows:

This account allows an average monthly balance requirement of Rs 10, 000.
Net Banking, Mobile Banking, RTGS/NEFT as well as the online payment is enabled free.
You can receive free SMS Alerts, which will track your transaction activities.
Allows NEFT/RTGS Fund Transactions and is free up to Rs 50, 000 per month. After that the charges are as follows:

Through NEFT:

Up to Rs 10, 000 – Rs 2.50
Rs 10, 001 to 1 Lakhs- Rs 5
Between 1 Lakh to 2 Lakh- Rs 15
More than 2 Lakhs- Rs 25

Through RTGS:

Between 2 Lakhs to 5 Lakhs- Rs 25
For more than 5 Lakhs- Rs 50

SB Ruby Savings Account

The SB Ruby Savings account is a customized savings account which offers a plenty of complementary features, facilities, and benefits. The average monthly balance requirement is Rs 10, 000.

The features and benefits of SB Money Sapphire Savings Account are as follows:

This account allows an average monthly balance requirement of Rs 10, 000.
Net Banking, Mobile Banking, RTGS/NEFT as well as the online payment is enabled free.
You can receive free SMS Alerts, which will track your transaction activities.
Allows NEFT/RTGS Fund Transactions and is free up to Rs 50, 000 per month. After that the charges are as follows:

Through NEFT:

Up to Rs 10, 000 – Rs 2.50
Rs 10, 001 to 1 Lakhs- Rs 5
Between 1 Lakh to 2 Lakh- Rs 15
More than 2 Lakhs- Rs 25

Through RTGS:

Between 2 Lakhs to 5 Lakhs- Rs 25
For more than 5 Lakhs- Rs 50

Federal Bank Savings Account | Interest Rate, Types and How To Open

January 22, 2018 / Leave a comment

The Federal Bank is a private sector commercial bank in India. The bank has its headquarters in Aluva, Kerala. The bank was founded in the year 1931 and was nationalized in the year 1947. As per the current record, the Federal Bank has a wide network of 1252 branches, 1680 ATMs and 212 Cash Deposit Machines across the country.

The bank provides a number of products and services for the benefit of the customers. Out of which, one of the most important services is the Savings Account. In this article, we will provide you the complete details of the Federal Bank Savings Account.

Interest Rates of the Federal Bank Savings Account

The Federal Bank offers an attractive interest of 4% per annum of the savings account.

How to Open a Federal Bank Savings Account

For opening a Federal Bank savings account, the applicants can either choose an online mode or offline mode of application.

For Online mode of application, the applicants have to fill in the account opening form by clicking it on the “Apply Online” tab in the “Open an Account” option. Submit the form online. After the submission of the application form, the candidates will receive the list of the KYC Documents that needs to be submitted along with the form. Take the print out of the application form and submit it along with the KYC Documents at the nearest Bank Branch. After the verification of the form and the documents, the applicants will be given the banking kit and the account will be activated and you can start saving.

For Offline mode of application, you will have to visit the nearest bank branch and collect the account opening form. The applicant has to fill in the application form and submit it along with the mentioned KYC Documents. The bank officials will then verify the form and the documents are your account will be activated and you can soon start saving.

Types of the Federal Bank Savings Account

The Federal Bank offers different types of savings account as per the needs of the customer. The types of Federal Bank Savings Account are:

Freedom SB Savings Account

In this savings account, the customers can avail premium services at negligible cost. The account holders of this account can enjoy the services such as the International Debit Card, Daily POS Limit of Rs 30, 000 along with free mobile banking and Internet Banking. This account can be opened by any individuals, foreign nationals currently living in India as well as the Trusts, Associations, Welfare, Clubs etc.

Young Champ Savings Account

This savings account is exclusively for the children to improve the habit of the savings. This includes features such as e-mail alerts, free Fed Book access etc. The account holder will receive a waiver of Rs 50, 000 per month on DD Charges. It also offers additional benefits like reward points for new recurring deposits. The minimum balance for this account is Rs 1000. The minimum balance can be waived off if the account is opened with the following schemes:

Fed Power+
Mahila Mitra
Fed NRI Eve
Fed Select
Fed Smart
Fed NRI Privilege

SB Plus Savings Account

This account includes the benefits such as International Debit Card, free Debit Card up to Rs 10, 000 every month along with a service charge discount of 25% on outstation cheque. The account holder receives 40 cheque leaves every month free of cost.

Yuva Mitra Savings Account

This account is specially designed for the students. This account provides 20 free cheque leaves every year along with an International Debit Card. The account holders can avail POS Limits up to Rs 30, 000 per day with no minimum balance requirement.

Basic Savings Bank Deposit Account (BSBDA)

This is a zero balance account and it offers various banking services. The account comes along with a chequebook and an ATM free of cost. The Government subsidies or the benefits through the Aadhaar card will also be transferred for free. The account holders are not allowed to open any other savings account with the bank, and if in case they have one already, then they have to close it within 30 days.

Federal Institutional Savings Account (FISA)

This account is specially designed for the Clubs, Committees, Trusts, Associations etc. Through this account the account holder will receive free e-mails on the account statements, 100 transactions for every quarter free of charge as well as the free mobile banking and e-mail alerts.

Fed Smart Savings Account

This account provides services such as daily e-mail statements, Internet banking, mobile banking, outstation cheque collection for free. The account holder can also enjoy the cash withdrawals up to Rs 75, 000 per day through ATMs and unlimited Demand Drafts with no charge.

Mahila Mitra Savings Account

This account is specially designed for the women, the account holder is provided with an International Gold Debit Card, Free NEFT and RTGS transactions, 2 Young Champ account for the minor children. Offers Demand Draft limit of Rs 50, 000 for free and allows cash withdrawals up to Rs 75, 000 per day.

Fed Excel Savings Account

This is a zero balance account for the working professionals and the entrepreneurs. The account provides an International Gold Debit Card with a POS Limit of Rs 75, 000 per day. Also provides free Internet Banking and Mobile Banking.

Fed Book Selfie Zero Balance Account

This is a zero balance account and can be opened from a smartphone. The account has its own personal app and can be downloaded by taking a selfie. All you have to do is just upload a selfie and upload the scanned copies of the Aadhaar and PAN card. The bank provides 10 cheque leaves a year and a free International Gold Debit Card.

Minimum Balance Requirements of the Savings Account

Every Savings Account of the Federal Bank has different minimum balance requirements based on the certain factors. Below listed are the list of the Savings account with Average Monthly Balance Requirements:

Types of Savings Account	Minimum Balance Requirements
Freedom SB Savings Account	Rs 1000
Young Champ	Rs 1000 waived if opened with Mahila Mitra, Fed Power etc.
SB Plus	Rs 5000
Yuva Mitra	Rs 0
Federal Institutional Savings Account (FISA)	Rs 5000
Fed Smart	Rs 1, 00, 000
Mahila Mitra	Rs 5000
Fed Excel	Rs 10, 000 and Nil for those who are below 35 years.
Fed Book Selfie	Rs 0

Eligibility Criteria for Federal Bank Savings Account

The eligibility conditions for opening a Federal Bank savings account are as follows:

for opening the account, the account holder must be an Indian Citizen or Hindu Undivided Families (HUF).
Individuals above 18 years (single or joint accounts)
Minors (through parents or guardians).
Clubs, associations, societies and trusts.

Documents Required for Opening a Federal Bank Account

Listed below are the documents that are required while opening a savings account in Federal Bank:

2 Passport size photographs
In case of Nominations, Form DA-1
PAN Card, if not then Form 60
KYC Documents for Identity Proof and Address Proof.

List of Proof of Identity Documents (any one)

Passport
Driving License
PAN Card
Aadhaar card
NREGA Job Card, signed by the Government Official.

List of Address Proof Documents (any one)

Aadhaar card
Voter ID
Driving License
Passport
NREGA Job Card, signed by the Government Official.

UCO Bank Savings Account | Eligibility, Types and Document Required

January 12, 2018 / Leave a comment

The UCO Bank which is formerly known as United Commercial Bank is a commercial bank that was established in the year 1943. This is a Government-owned Commercial Bank in India. The bank has its headquarters in Kolkata. This bank was set up by Ghanshyam Das Birla. The bank was nationalized in the year 1969, the Indian Government holds 84% of the stake. The UCO Bank has a network of over 3000 branches and also manages almost 500 ATMs across the country. As per the record till 30th March 2017, the bank has over 4000 service units and 49 Zonal Offices in India.

Besides the banking activities, the bank also focuses and involves itself in different social outreach programs and measures. The bank participates in various activities and schemes for the benefit of the people residing in the urban and rural areas.

The bank also provides a wide variety of products and services for its customers. One of the services is the Savings Account. The savings account offers a lot of advantages and benefits like incentivizing people to save and earn from their savings. In this article, we will be providing you complete details regarding the UCO Bank Savings Account.

Interest Rate on UCO Bank Savings Account

The UCO Bank offers an Interest Rate of 4% on its savings account to its customers.

Opening a UCO Bank Savings Account

If you are planning to save your earnings, then the best option is to open a savings account in the bank. The UCO Bank provides its customers to open a savings account. You can do it without any hassle of waiting in the long queues and filling endless forms. You can now open a new account online. You just have to go the bank’s homepage and select the option “New Account Opening” located on the right side of the screen. A pop-up window will open and you can then select the type of account you want to open.

Then enter the details as requested and submit the form online. A reference number will be issued after the submission of the form. With the help of a reference number, you can even check the status of your application form. After filling the form, you have to submit the application form along with the required documents to the nearest UCO Bank branch. The bank will then verify the documents and if all the information are correct, the bank officials will then create an account and it will be active within few hours and you can begin your savings.

If you are not free to apply online, you can also have an option to apply it offline. In the offline mode, you have to visit the nearest bank branch and collect an Account Opening Form. Then fill in with the required details and submit it to branch with the required documents. The bank will then verify the documents and notify you when your account is opened so that you can start saving.

Types of UCO Bank’s Savings Account

The UCO Bank offers different types of the savings account as per the need of the customers. The following are the various types of Savings account.

UCO Saral Savings Deposit Scheme

Through this bank’s savings account, you earn a free Debit Card and 40 Cheque Leaves per year. Being an account holder, of this account you can also use net banking and mobile banking services as well as fund transfer services such as NEFT/RTGS etc.

UCO Star Savings Deposit Scheme

Under this type of account, the account holder is eligible to get 40 Cheque Levels half-yearly for free. The account also provides a Debit Card along with an add-on card free of cost. The account holders can also make fund transfers using NEFT/RTGS free of charge. The account holders will not be charged for stop payments and can issue for demand drafts/ pay orders up to Rs 10, 000 in a day for free. The amounts above the minimum balance would be sept out into term deposits of 179 days in multiples of Rs 5000, with an interest at the prevailing deposit interest rate.

UCO No-Frills Savings Account

This type of savings account is specially designed for the individuals who are not able to open a savings account for some reasons. This account allows the account holder to issue Demand Drafts, cheques etc. The account can be opened with an opening balance of just Rs 5/-and can be operated with zero balance as well. It is mainly a partial KYC Complaint account. A total of 25 debit transactions can be made over a half-yearly period.

UCO Veer-Shakti Savings Account

This type of Savings Account is mainly for the defence personnel, both serving as well as retired members. The Indian Armed Forces and Para-Military Forces are eligible to manage their accounts and receive their salaries and pensions. Through this account, you can also avail a number of privileges and benefits such as personalized Debit Cards along with add-on cards which are absolutely free. There are no processing charges for home loans and car loans. The account holders can also have an access to an overdraft facility with special privileges.

UCO Smart Kids Savings Scheme

This type of savings scheme is mainly designed for the children. The main objective of this scheme is to inculcate the saving habit in the children. This account can be opened by a child above 10 years offers a lot of benefits such as personalized ATM Cards with POS Limit of Rs 3000 a day. The holders will also receive 2 cheque books free of charge every year. The fund transfers from parent/grandparents account would not be charged.

Eligibility Criteria for UCO Savings Bank Account

For opening a UCO Savings Bank Account, you need to fulfill the below conditions:

Individuals above the age of 18 (either single or joint account)
Minors above the age of 10 (the only joint account can be opened along with a parent/guardian unless otherwise specified).

Documents Required for Opening a UCO Bank Savings Account

For opening a UCO Bank’s savings account, a list of documents is required. These are listed in the Know Your Customer (KYC) guidelines issued by RBI. All the banks have to collect the same set of documents for the verification purpose. The documents that are collected are listed as follows:

Passport size photographs
Address proof
Identity proof

Proof of Address Documents

You can submit any one of the following lists of the documents as an Address Proof to open an account.

Aadhaar card
Passport
Driving license
Bank account statement
Utility bills such as electricity bills, telephone bills etc.
Income tax statement
Credit card statement

Proof of Identity Documents

You can submit any one of the following as the Proof of Identity Documents to open an account.

Passport
Voter’s ID Card
Permanent Account Number (PAN)
Government Issued Photo ID Card
Defence Card
Aadhaar card
Driving License.

Note:

In case of the accounts opened by the minors and pensioners, proof of age documents such as birth certificate has to be submitted.
In case of the joint accounts, all the applicants have to submit the documents specified above.

HDFC Savings Account- Interest Rates, Features & Benefits

November 30, 2017 / Leave a comment

The HDFC Bank offers a wide range of savings account. These savings accounts have different unique features and privileges that can be availed in a quick and convenient manner. The savings account provides different banking facilities and services. The customers have the facility to compare and choose the best according to their convenience. Also, a Personal Relationship Manager also assists the customers at every step of the way.

Some Relevants Links
HDFC Bank Credit Card	Click Here
HDFC Bank Credit Card Customer Care Number	Click Here
Check HDFC Bank Account Balance	Click Here
Check HDFC Bank Credit Card Balance	Click Here
Link Aadhaar Card With HDFC Bank Account	Click Here
Check HDFC Bank IFSC Code	Click Here

Types of HDFC Savings Account

A savings account is called as a zero balance account which is opened as an operative account for the fixed deposits/investments for day to day transactions, remittances to India or for salary or payments, standing orders, and direct debits and savings.

Below are the types of the savings account schemes:

Savings Max Account:- Through the auto-sweep out facility, higher interests can be earned on the funds that are lying idle.
Regular Savings Account:- This account is meant for day to day banking requirements.
Women Savings Account:- This savings account is specially designed for the woman and provides a complete banking solution and caters to the financial, lifestyle and investment needs.
Kid’s Advantage Savings Account:- This account is meant for developing money management skills in the kids and to accumulate savings for your child.
Senior Citizens Account:-This savings account is mainly designed for the senior citizens and it offers a wide range of benefits regarding the health issues, investment and day to day banking solutions.
Family Savings Group Account:- This savings account is specially designed for the entire family with benefits of a single account.
Basic Savings Bank Deposit Account:- This is a basic zero balance savings account. It provides free ATM/Debit Card which meets all the banking requirements.
Institutional Savings Account:- This is a zero balance savings account which is made available to the Trusts, Societies, Associations, Clubs, NGOs and much more.
BSBDA Small Account:- This savings account is a zero balance savings account which provides a free ATM/Debit Card and completes all the banking requirements.
Multiple Account Access:- One View is a unique feature provided by HDFC that allows viewing a multiple number of banks accounts with different banks centrally. The banks that participate in this platform are:

Citibank
HSBC Bank
ICICI Bank
Standard Chartered

Now you don’t have to log in to every bank account individually to access net banking. You can set up to 5 different bank account under One View. You just need to remember the password so as to access all your accounts along with the HDFC Bank Account. This platform is free of charge, which is one great thing. For availing this feature, you need to be a net banking customer of HDFC Bank.

Interest Rates on HDFC Bank Savings Account

The Savings Account offers the customers with wide variety of facility such as mobile banking, phone banking, and net banking etc. The savings account range from the regular savings accounts to premium saving options that enables substantial savings.

Particulars	Rate of Interest
Saving Deposits Balance Below Rs 50 Lakhs	3.50% per annum
Saving Deposits Balance Above Rs 50 Lakhs	4.00% per annum

Features of One View

Through One View, you can view all the online bank accounts of HDFC Bank, ICICI Bank, Citibank, Standard Chartered Bank and HSBC Bank. You can view the following details through One View Platform:

Current or Savings Balance Account
Fixed Deposit Summary.
Current or Savings Account Transaction History
Citibank Credit Card Balance
Citibank Credit Card Transaction History
HDFC Demat Profile
HDFC Demat Holding
HDFC Demat Status

Security Feature of One View

The One View Platform uses the Firewall. To transmit information, One View uses 128- bit Secure Socket Layer (SSL) encryption technology. The platform has designed a timeout facility so that the other users cannot view your profile for details. You can be assured that your account is safe and secure. Through this platform, you cannot perform transactions but you can view your account details.

Basic Savings Bank Deposit Account (Farmers)

This account is exclusively designed for the farmers and provide them a financial sector by providing a zero balance savings account with no initial deposit requirements. The Account Holders can benefit free from the IVR Phone Banking Facility. The Bank issues free International Debit Cards to the account holders to facilitate cashless and convenient transactions and cash withdrawals. The account can be operated through net banking, mobile banking, phone banking and branch banking.

Features Offered

No initial deposits are required while opening a bank account.
No average monthly balance required.
There are no charges levied for the non- maintenance of the account.
There are no charges levied for activating the account.
Free International Debit Card
First Cheque Book is free
Cash Deposit can be made free of charge with no limits.
Cash Withdrawals are limited to 4 free per month and subsequently at Rs 50 plus tax per transaction.

Eligibility Criteria for opening a Basic Savings Deposit Bank Account

The eligibility criteria to open a basic savings bank deposit account are:

The Individuals should be residents of India.
The Individuals must be an agriculturist or a farmer having their own agricultural land or must have income from agricultural resources.
The account can be opened solely or jointly.

Documents Required for Basic Savings Deposit Bank Account

The Documents that are required for opening a Basic Savings Bank Account are:

Recent Passport Size Photograph
ID Proof as per the list of KYC Documents
Address proof as per the list of the KYC Documents
Basic Savings Bank Deposit Account Customer Declaration.

Smart Buy

Smart Buy is a special platform introduced by HDFC Bank which allows the customers to compare prices across the different websites and get the best deals on shopping and flight tickets.

Some of the brands that hold a partnership with this feature are Amazon, Flipkart Snap deal, OYO, Cleartrip, eBay, and Booking.com.

Smart Buy offers the following facilities:

Flight Bookings
Hotel Bookings
Mobile Recharges

Not only this, the customers can also shop from the SmartBuy Website by viewing the best prices. By selecting the desired product, they can be directed to the merchant’s website. Based on your city, you can find the best deals and offers on the following:

Electronics
Smartphones
Food and Dining
Travel and
Beauty and Health

The SmartBuy provides special offers and different payment facilities for the purchases through the Smart Buy. Customers can avail discounts and offer on the following payment methods:

Credit Cards
Debit Cards
Net Banking and
Prepaid Cards

SmartBuy provides the customers the best deals online for a product by comparing the prices from different websites. Therefore Shop wisely on HDFC’s SmartBuy Website.

Features and Benefits of HDFC’s Savings Account

The HDFC Savings Account Scheme provides different features to meet the requirements of different customers in a unique manner.
Offers a complete banking solution that allows the customer and his/her family to benefit from one single account.
With just one savings account, a customer can enjoy different benefits such as Health, Investments and everyday banking solutions.
Provides Widest ATM Networks across the country to meet all your banking needs.
Free Net Banking, Mobile Banking, and Phone Banking.
E-mail Account Statements are sent out on a Monthly Basis.
“Money-Maximizer” or Sweep out Facility is also provided on some of the savings accounts so that surplus funds can be put into high earning fixed deposit at the threshold of Rs 1, 25, 000.

Documents Required For HDFC’s Savings Account

For opening a Savings Account, following documents are required:

Identity Proof
Address Proof
Latest Passport Size Photographs
Self-Attested Copies and Originals for Verification.

Eligibility Criteria for opening a Savings Account

Accounts can be opened by an individual singly or jointly, Minors aged above 10 or above and minors under natural/legal guardianship.
Resident Individuals (Sole/Individual)
Hindu Undivided Families
Foreign National Residing in India. If you are a Foreign National Residing in India then you need to attach a QA 22 Form stating the sources of credit and a copy of your residence permit.

Minimum Balance Required With HDFC Bank Savings Account

Savings Account Scheme	Minimum Balance Requirement
Savings Max Account	Rs 25, 000
Regular Savings Account	Rs 10, 000 (Metro/ Urban Branches) Rs 5, 000 (Semi-Urban) Rs 2500 (Rural)
Women’s Savings Account	Rs 10, 000 (Metro/Urban Branches) Rs 5000 (Semi-Urban/ Rural Branches)
Kids Advantage Account	Rs 5000
Senior Citizens Account	Rs 5000
Family Savings Group Account	Combined Average Monthly Balance in all accounts grouped should be Rs 40, 000
Basic Savings Bank Deposit Account	–
Institutional Savings Account	–
BSBDA Small Account	–

Fee and Charges

Savings Account Scheme	Standing Instructions	Passbook Issuance	Debit Card (Annual Fee)
Savings Max Account	Rs 25+ remittance fee	Free	Free
Regular Savings Account	Rs 25+ remittance fee	Free	Rs 150+ Taxes
Women’s Savings Account	Rs 25+ remittance fee	Free	Rs 150+ Taxes
Kids Advantage Account	Rs 25+ remittance fee	Free	Free
Senior Citizens Account	Rs 25+ remittance fee	Free	Free for life time for 1^st Applicant. Rs 100+ Taxes for Other Applicants
Family Savings Group Account	Rs 25+ remittance fee	Free	Free for all the applicants
Basic Savings Bank Deposit Account	Rs 25+ remittance fee	Free	Rs 100+ Taxes
Institutional Savings Account	Rs 25+ remittance fee	Free	–
BSBDA Small Account	Rs 25+ remittance fee	Free	Rs 100+ Taxes

Aadhaar Linking Process

How to Link Aadhaar Card with HDFC Bank Account?

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