Product Details
Bank Name
Ujjivan Small Finance Bank
Account Name
Ujjivan Privilege Savings Account
Account Type
Saving
Interest Rate
Interest Rates up to INR 1 lakh - 3.50% p.a. | Above INR 1 lakh to INR 5 lakhs - 5.00% p.a. | Above INR 5 lakhs to INR 25 lakhs - 7.25% p.a. | Above INR 25 lakhs - 7.50% p.a.
Free Debit Card
Yes -Rupay Platinum Debit Card.
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
INR 25,000 or cumm. FD of INR 5,00,000 or above (Or) Single RD of INR 10,000 or above for min 12 months
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Nil
Fees and Charges
Ujjivan Privilege Savings Account
Special Features
Accidental insurance of upto Rs. 2,00,000/- available
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Flexible balance maintenance options.
Unlimited free fund transfer through internet and mobile banking
Unlimited free transactions across any bank ATM.
25 FREE cheque leaves per quarter.
Best in class free personalized RuPay Platinum debit card with multifarious benefits including: 2 free access per quarter across 30+ domestic airport lounges; pan India Instant discounts on Swiggy and Amazon.
Higher accidental insurance up to INR 2,00,000 per annum free.
Cons
Account cannot be opened digitally. No international Lounge access facility available.
Ujjivan Privilege Savings Account Review
The account offers decent interest rate. The account also comes loaded with a number of value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Account Opening and Procedure
How to open an Account?
You can open a Ujjivan Privilege Savings Account in two ways:
1. Online:
Visit the Ujjivan SFB Privilege Savings Account page.
Select "Open Online."
Choose "New Customer" and complete your KYC.
Verify your Aadhaar with an OTP.
Pay the required amount to open the account.
2. Offline:
Visit the nearest Ujjivan SFB branch.
Communicate with a bank representative and request an application form.
Fill out the form with essential details.
Provide KYC documents (Aadhaar card, PAN card, etc.).
Deposit the initial amount.