Product Details
Bank Name
Utkarsh Small Finance Bank
Account Name
Utkarsh Small Finance Bank U-INSTANT
Account Type
Saving
Interest Rate
Upto 1 Lakh: 4.%. Between 1 and 5 Lakh: 6.25%. Between 5 Lakh up to 50 Crore: 7.50%. Above 50 crores: 7.75%.
Free Debit Card
Virtual debit card
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Account Opening Fees
0
Debit Card Charges
0
Annual Maintenance Fees
0
NEFT Charges
0
Minimum Account Balance
0
IMPS Charges
0
Fees and Charges of
Utkarsh Small Finance Bank U-INSTANT
Utkarsh Small Finance Bank U-INSTANT
Special Features
Video KYC for users.
Eligibility Criteria
Anyone above the age of 18 years residing in India.
PAN and AADHAAR are mandatory.
Benefits
Features, Eligibility and Benefits of
Utkarsh Small Finance Bank U-INSTANT
Pros & Cons of
Pros
No minimum balance is required.
No IMPS or NEFT transactions fee/
Free virtual debit card.
High interest rate.
Cons
No physical debit card is provided to the user.
The Bank has limited ATM and branch network.
Utkarsh Small Finance Bank U-INSTANT
Utkarsh Small Finance Bank U-INSTANT Review
The account comes with decent interest rate however, the account offers minimal 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
Review of
Utkarsh Small Finance Bank U-INSTANT
Account Opening and Procedure of
How to open an Account?
Steps to Open a U-INSTANT Account:
Visit the Utkarsh Small Finance Bank Website: Go to the official website of Utkarsh Small Finance Bank.
Locate the U-INSTANT Account Option: Look for the section related to online savings account opening or the U-INSTANT account specifically.
Click on "Open Account" or a Similar Button: This will initiate the online application process.
Enter Your Details: Provide the required information, such as your name, date of birth, mobile number, email address, PAN card details, and Aadhaar card details.
Select Your Account Type: Choose the type of U-INSTANT account you want to open (if there are different options available).
Schedule a Video KYC Call: You will be given the option to schedule a video call with a bank representative for KYC verification.
Prepare for the Video KYC: Ensure you have your original PAN card and a white sheet of paper with a blue or black pen ready for the video call.
Complete the Video KYC: During the video call, the bank representative will verify your identity and other details.
Account Activation: Once the video KYC is successful, your account will be activated.
Download the Utkarsh Mobile App: Download the Utkarsh Mobile Banking app from the Google Play Store or Apple App Store.
Create an MPIN: Set up your mobile banking MPIN for secure access to your account.