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 Financial Inclusion  Products    No Frill Saving Account
Link To: Union Gold Coins
NO FRILLS Savings Account
FeaturesForms & DocumentsFAQs

Open a "No Frills savings account" with UNION BANK OF INDIA and avail necessary banking facilities while maintaining a nominal minimum balance.

 
Salient Features of NO FRILLS SAVING ACCOUNT
  • All resident individuals eligible to open a "No frills saving account" except NRIs,trusts, societies, etc.
  • Any number of accounts in a family can be opened under this scheme.
  • In north eastern states account can be maintained with zero balance.
  • No cheque book facility will be available.
  • One ATM / International debit card will be issued to the account holder.
  • Withdrawal of cash will be available only through ATM wherever online ATM facility is available. At other branches, withdrawals will be through withdrawal slip.
  • Number of free customer induced debit entries will be restricted to 30 per half year including debit entries through ECS/ATM. Entries above 30 will be charged @ Rs.5/- per entry.
  • Total credits in the account should not exceed Rs.1,00,000/- in a year.
  • There is no restriction on entries for deposit of Cash/Cheques in the account.
  • Nomination facility is available.
  • The balance in all the accounts of the accountholders taken together in the bank should not exceed Rs.50,000/-.
  • There is also a provision for Basic Saving Bank Deposit Account, it is operational for a year and requires renewal.
 
Special facilities under "No Frills Account" for residents of North-eastern states i.e. Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland & Tripura:-Clean overdraft upto Rs.500/-once in a year (Conditions apply).
 
Note: If at any point of time the balance in the NO FRILL ACCOUNT exceeds Rs. 50,000/- or total credits in the account in a year exceed Rs.1,00,000/-, the account will be kept deactivated and can only be re-activated as a regular saving account after completion of KYC formalities.
 

For Useful Information please click the links below  :


I am a contractor and maintain Current Account with your Branch since the Branch was opened.
Link To: Union Monthly Plus
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