The bank account is one of the main necessity of all the people with newer schemes and policy of the government, every individual needs to have an account to avail the various facility for example insurance of an individual with just 1 rupee and much more. Saving bank account and the current deposit account are the most popular account type in use and almost all individuals in India have such an account. United Bank of India also provides its customers to open a saving bank account and current deposit account with an attractive rate of interest and with additional lucrative services.

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United Bank of India Types of Accounts

Savings Bank Account

Eligibility:

Saving bank account can be opened by an individual or jointly by the name of two or more individuals. An account can also be opened for a minor which will be operated by the natural guardians. UBI also provides UBI Debit Cards and United Bank of India Credit Cards to their valuable customers.

Minor at the age above 13 can operate his/her account individually. A blind person can also open a savings bank account. Savings bank account can also be opened by a club, an association or a society.

Minimum Balance to be maintained:

• Account with cheque book facility at metro or rural or urban or semi-urban: minimum balance of rupee 500
• Account without cheque book facility at rural location: minimum balance of rupee 50
• Account without cheque book facility at metro or urban or semi-urban location: Minimum balance of 100 rupee. if you have any doubts regarding minimum balance then you have to contact with United Bank of India Customer care with out visiting the bank personally.
• Pensioner or USP a/c or visually handicapped or women operated by self or minor operated by guardian or industrial or agricultural labors or low-income family or girl student or account opened for financial inclusion: zero

Nomination: Nomination of only one individual is allowed a single account.

Calculation of interest: Interest is payable in half-year period in June and December on daily basis.

Restriction on withdrawal: An individual holding a saving bank account can withdraw money a maximum number of 50 for free for a half year calendar and for transaction or withdrawal excessing 50, each transaction would cost an additional 10 rupee.

Facilities available to the customer:

• Nomination facility is available for quick transfer of balance in case of death of the account holder.
• Facilities of standing instruction are available in saving bank account which involves crediting money to another bank account.
• Cheque book and passbook facility are provided to the customer at the time of opening of the savings bank account.
• In United Bank of India, the user can open a joint account with any of the relative or family members.
• One can open the account in the name of minor or illiterate or even for the blinds.
• United Bank of India provides a coverage of 1.25 lakhs insurance by paying a nominal premium of rupee 17 every year under United Suraksha scheme.
• ATM cum United Bank of India Debit Card is provided to the customer which can be used at any of the ATMs for cash withdrawal and can be used at ant shops and outlets for purchasing any material with just swiping the card and with the use of the confidential ATM PIN.
• Safe lockers facility is also available at the banks.

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United Current Deposit Account

Eligibility:

Individuals(except an illiterate, lunatic and undischarged solvent), sole proprietorship firm, public limited companies, partnership firms, private limited companies, local body, HUFs, society, clubs, associations, executors, trusts, liquidators, administrators etc. Check your account status with safe and secured United Bank of India Mobile App.

Initial Deposits and Minimum Balance:

For opening a current United Bank of India Deposit account an initial deposit of 2500 rupee for location in metro or urban or semi-urban or rural branch and minimum balance that should be maintained by the account holder is rupee 1000.

Interest: In the current deposit account no interest is paid for the amount present in the account.

Special Declaration: Under the guidelines of the RBI, no credit facilities are given to any of the customers.

Transfer of Account: Transfer of account to any other branch is possible without any charge and is operationalized within two weeks subject to Know My Customer compliance at the new branch.

The Document Requires for Opening a Current Deposit Account:

• Two passport size photograph which should be signed on the face by the customer operating the account.
• Xerox copy of PAN card
• Address verification proof like Passport or voter ID card or electricity bill or driving license etc.
• Copy (Xerox) of the partnership deed of the partnership firm.
• Memorandum or article of association of the limited company.

Nomination: Nomination is allowed only for sole proprietorship and individual and a customer having current deposit account can nominate only one person per account. Also check the required documents for SBI Accounts, Citibank Accounts and OBC Accounts.

Statement of the account: The Statement of the account is provided monthly by default and can be provided as per the desire of the customer.

Features available to the customers:

• For the current deposit account nomination facility is available for quick transfer of balance in case of death of the account holder.
• Current deposit account holder can give standing instruction to credit fund into another account.
• Instant credit can be taken of rupee 15000 against the local cheque.
• United Bank of India covers an insurance benefit of rupee 1.25 lakh by giving a nominal premium of rupee 17 per year under Suraksha Scheme.
• With the current deposit account, the customers are provided with ATM cum debit card.
• Safe locker can also be availed by the current deposit account holder.
• The customers can also enjoy the services of United Bank of India Internet Banking, telebanking facilities, and mobile banking facilities.

FAQ’s Related to United Bank of India Accounts

1. What if the customer wants to convert current deposit account into savings bank account?

2. How to issue a newer passbook, in case the older passbook is lost?