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Union Bank of India Savings Account
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Established in 1919, Union Bank of India (UBI) is a government-owned bank of India. It is headquartered in Mumbai and has International representative offices in China, UAE, Abu Dhabi. It also has branches in Dubai, Hong Kong, Antwerp & Sydney. There are over 4000 branches of UBI in India. 

Union Bank Of India Savings Account Interest Rate

Union Bank Of India offers the following interest rates for its Savings Account: 

  • 3.5% p.a. for balance up to Rs 25 lakh
  • 4% p.a. for balance above Rs 25 lakhs 

Types of Union Bank Savings Accounts

Basic Savings Bank Deposit Account

The basic savings account does not require the account holder to maintain a minimum balance. This account offers facilities such as cash deposits and withdrawals, fund transfers and receipts through electronic channels or cheques, etc. The account holders get a free RuPay Debit Card with this account. This account does not have any upper limit of the number of allowed in a month, but only 4 withdrawals per month are permitted. If the account becomes non-operational or inactive, no charges are levied for the re-activation of the account.

Regular Savings Bank Account

The regular savings account offers the convenience of anytime and anywhere banking through its many branches, ATMs, internet and phone banking facilities. Apart from 2 free cheque-books per year, the account holders get Debit cards without any extra charge and are eligible to earn reward points on the expenses made using the debit card. This debit card carries an Accidental Insurance Cover for free. Account holders can avail the nomination facility. This is a zero balance account and even students are eligible to opening this kind of account. This account also has the U-Mobile facility which lets a customer make a balance enquiry, recharge a prepaid mobile, transfer money through NEFT and make bill payments through the mobile phone.

Union Savings Flexi Deposit Account

The Flexi Deposit accounts come with a passbook containing all the details of the SB Flexi Account and linked FD Flexi Account along with any TDS adjustments. These accounts issue a debit card to the account holder at no extra cost. Nomination facilities, five cheque-books as well as unlimited free NEFT and RTGS transactions are available with this account.

Union Bank of India Minimum Balance Requirement

The Basic Savings Bank Deposit Accounts do not have any minimum balance requirement. The table below shows the minimum balance requirement for the Regular Savings Bank Account


With Cheque book

Without Cheque book
















Union Bank of India Savings Account Charges

Savings Account Type

Debit Card Fee

Account Closure Fee

Basic Bank Savings Deposit A/c

Free of charge

Within 14 days of opening – Nil

After 14 days of opening: Various charges for various categories of applicants.

Regular Savings Bank Deposit A/c

Free of charge

Within 14 days of opening – Nil

After 14 days of opening: Various charges for various categories of applicants.

Union Savings Flexi Deposit A/c


Within 14 days of opening – Nil

After 14 days of opening: Various charges for various categories of applicants.


These are the eligibility criteria for a Savings Accounts:

  • Resident Indian
  • Trusts, associations, government bodies, religious institutions, clubs, etc as permitted by the RBI.

Documents Required to Open a Savings Account

  1. Identity Proof: Passport, driver’s license with validity, Permanent Account Number (PAN) card, Voter ID card, Aadhaar Card, Government-issued photo identity card, NREGA Card, etc.
  2. Address Proof: Passport, driver’s license, Passbook of another bank, Electricity or phone bills, Ration card, etc.
  3. Passport sized photographs
  4. Application form
  5. For NRI applicants: Copy of the passport, resident visa, valid documentation of their foreign residence (NRI applicants should be introduced by any member of the Indian Embassy or a Notary Public or a Banker or a local customer who has submitted all KYC documents)