Product Details
Bank Name
Utkarsh Small Finance Bank
Account Name
Utkarsh Basic Savings Bank Deposit Account SMALL (BSBDA Small)
Account Type
Saving
Interest Rate
Upto 1 Lakh: 4.%. Between 1 and 5 Lakh: 6.25%. Between 5 Lakh up to 5 Crore: 7.50%
Free Debit Card
Yes Rupay Classic
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Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Up to Rs. 1,000: INR 2.5 per transaction
Above Rs. 1,000 up to INR 25,000: INR 5 per transaction
Above Rs. 25,000 up to INR 5,00,000: INR 5 per transaction
Fees and Charges
Utkarsh Basic Savings Bank Deposit Account SMALL (BSBDA Small)
Special Features
Eligibility Criteria
Indian resident.
Age should be a minimum of 18.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Zero liabilities coverage on debit card.
Zero balance account.
Free debit card.
Free NEFT and RTGS transfer.
High interest rate.
Cons
Utkarsh has a limited ATM and branch network.
Limited value add features.
Utkarsh Basic Savings Bank Deposit Account SMALL (BSBDA Small) Review
The account offers high interest rate. The account offers limited 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?
To open an Utkarsh BSBDA Small, follow these steps:
Visit a Utkarsh Small Finance Bank Branch: Locate the nearest branch to your residence or workplace.
Obtain an Account Opening Form: Request an account opening form from the bank representative at the branch.
Fill out the Form: Complete the form accurately with your personal details, including:Full Name
Date of Birth
Contact Information (Phone number, Email address)
Nominee details (if applicable)
Submit Required Documents: Provide the following original documents for verification and photocopy submission:Proof of Identity: Aadhaar card, PAN card, Voter ID card, Driving License, or Passport
Proof of Address: Aadhaar card, Voter ID card, Driving License, Passport, Ration card, or Utility bills
Complete KYC (Know Your Customer) Process: The bank will conduct KYC checks to verify your identity and address.
Account Activation: Once the verification process is complete, your BSBDA Small account will be activated.
Receive Account Details: You will receive your account number and other relevant information.