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Product Details
Bank Name

Union Bank of India

Account Name

UBI Savings Flexi Deposit Scheme (SBNFP)

Account Type

Saving

Interest Rate

Upto 50 Lakh 2.75%. Above 50 Lakh upto 100 Crore : 2.90%

Free Debit Card

Platinum Debit Card

UBI Savings Flexi Deposit Scheme (SBNFP)
Account Opening Fees

0

Annual Maintenance Fees

0

Minimum Account Balance

Minimum balance required - Rs. 10,00,000

Debit Card Charges

Not specified by the bank

NEFT Charges

Free

IMPS Charges

Free

Fees and Charges

UBI Savings Flexi Deposit Scheme (SBNFP)

83.1
Special Features
  • It is a combination of a savings account and a term deposit.

  • Period of term deposit - 46 days to 90 days.

  • Nil penalty for non-maintenance of minimum balance.

  • Nil cash deposit charges up to Rs 50 lakh per month.

Eligibility Criteria
Indian resident above 18.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
  • Weekly sweep-out facility.

  • Unlimited personalized cheque leave.

  • Free unlimited RTGS/NEFT/DD facility.

  • Period of term deposit - 46 days to 90 days.

  • Nil penalty for non-maintenance of minimum balance.

  • Nil cash deposit charges up to Rs 50 lakh per month.


Cons
  • Low interest rate.

  •  Limited value add features.

Application Procedure

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Product Review
Account Opening and Procedure
How to open an Account?

You can open a savings account in Union Bank of India either online or offline. Here's a breakdown of both methods:

Online Method

  1. Visit the website or download the app: Go to the official Union Bank of India website or download their mobile app, "Union Selfie & M-Passbook."

  2. Start the application: Look for the "Online Account Opening" section and choose "Savings Account."

  3. Fill in the details: Provide all the required information in the application form.

  4. Upload documents: Upload scanned copies of your Aadhaar card, PAN card, proof of identity, proof of address, and signature.

  5. Submit the form: Once you've filled in the form and uploaded the documents, submit it online. You'll receive a reference number and an SMS on your registered mobile number.

  6. Visit a branch: After submitting the online application, you'll need to visit a Union Bank of India branch with your original documents and passport-size photographs for verification.

Offline Method

  1. Visit a branch: Go to your nearest Union Bank of India branch.

  2. Collect the form: Ask for the savings account opening form.

  3. Fill in the details: Fill out the application form accurately.

  4. Submit the form: Submit the filled-out form along with copies of your KYC documents (Aadhaar card, PAN card, proof of identity, and proof of address) and passport-size photographs.

  5. Verification: The bank will verify your documents and process your application

Application Procedure
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