Opening a basic bank account has become essential in today’s digital world. City Union Bank offers handy zero balance accounts that allow opening an account without maintaining minimum balance. This blog covers comprehensive details about the various zero balance account types provided by City Union Bank, eligibility criteria, documentation required, account opening process whether online or offline and operating features to manage finances with ease.
Types of City Union Bank Zero Balance Account
City Union Bank offers different types of zero balance accounts to suit customers’ needs. The major account types are:
| Type of accounts | Features |
| Savings Account | One of the most basic accounts that allows deposit and withdrawal of funds. Interest earned on daily balance |
| Salary Account | Specially meant for salary earners to get their salary credited without any hassle. Attractive online banking and mobile banking features. |
| Smart Salary Account | All features of regular salary account. Additional benefits like insurance cover, shopping discounts etc. Priority banking services. |
| Basic Savings Bank Deposit Account (BSBDA) | Mandatory account opened under Pradhan Mantri Jan Dhan Yojana. No minimum balance required. Unlimited withdrawals and deposit allowed. Rupay debit card for make cashless payments. |
How to Open City Union Bank Zero Balance Account Online – 2024
Opening city union bank account opening zero balance online is very simple and convenient. Just follow these simple steps:
- Visit City Union Bank website and click on ‘Open Account’ option
- Select the type of zero balance account you want to open
- Fill online account opening form with basic details
- Upload scanned photos of required documents
- Verify your identity through OTP received on registered mobile number
- Your account will be instantly open and you can start using Internet Banking
- Login credentials for internet and mobile banking will be sent via SMS/Email
- You can view mini account statement, transfer funds and more through online banking
The online process ensures safety, convenience and minimum paperwork. You can now experience tech-savvy banking with City Union Bank zero balance accounts opened in just a few minutes sitting at home.
How to Open City Union Bank Zero Balance Account Offline?
While online account opening provides an easy paperless route, some customers may prefer visiting the branch for assistance or due to non-availability of required documents digitally. Steps to city union bank saving account open offline are:
- Visit the nearby City Union Bank branch with required documents
- Take token and wait for your turn to meet bank official
- Submit filled account opening form along with KYC documents
- Bank executive will verify documents and process your application
- You will receive confirmation of account opening on your registered mobile
- Collect welcome kit containing checkbook, debit card and other details
- Visit branch to load initial funds and activate your account
- Later avail internet banking, mobile apps to manage account online
City Union Bank Zero Balance Account Interest rates
City Union Bank zero balance account Interest rates from 05.04.2023 are as follows-
| Period | Rate of Interest % p.a. | |
| General | Senior Citizens | |
| 7 days to 14 days | 5.00% | 5.00% |
| 15 days to 45 days | 5.50% | 5.50% |
| 46 days to 90 days | 5.75% | 5.75% |
| 91 days to 180 days | 6.00% | 6.00% |
| 181 days to 270 days | 6.25% | 6.50% |
| 271 days to 364 days | 6.50% | 6.75% |
| 365 days to 399 days | 6.75% | 7.00% |
| 400 days | 7.00% | 7.50% |
| 401 to 3 Years | 6.50% | 6.75% |
| Above 3 Years up to 10 Years | 6.25% | 6.50% |
| Tax Saver | 6.50% |
Fees and charges of City Union Bank Zero Balance Account
While City Union Bank zero balance accounts offer basic banking facilities without maintenance charges, certain fees are applicable for value-added services. Fees and charges for city union bank zero balance account open are as follows:
- No minimum balance to be maintained in savings account.
- No charge on fund transfer through internet/mobile banking.
- First 10 cheque leaves free in half yearly period, then Rs.5 per cheque.
- Debit card joining – Rs.150, annual charges – Rs.100 (waived for few accounts)
- Reissue of lost/damaged debit card – Rs.100
- Balance enquiry, mini statement at ATM – Free, subsequent – Rs.20
- SMS alert charges – Rs.20+GST per quarter
- Passbook charges after 2 entries per month – Rs.20+GST
- Late payment fee on credit card – Rs.100
Eligibility criteria to open City Union Bank Zero Balance Account
Opening a zero-balance account with City Union Bank is simple. However, there are some basic eligibility criteria to be met.
- Minimum age of 18 years (for minor’s account guardian must be over 18)
- Indian citizen or NRI holding valid ID proof
- PAN card and address proof like Aadhaar/voter ID for KYC.
- Salaried individuals should submit latest salary slip/ITR for salary accounts.
- Self-employed must provide proof of business income.
- Minimum KYC documents to be submitted as per RBI guidelines.
No restriction on income/employment status, making it suitable for all classes. Non-residents can open NRE/NRO accounts as well. In case of minor accounts, parent/legal guardian acts as the operative. Once these basic rules are met, you can easily get your zero-balance account opened to start transacting.
Documents required to open City Union Bank Zero Balance Account
Opening an account with City Union Bank requires submitting certain basic Know-Your-Customer documents for verification and compliance with anti-money laundering norms.
Documents required:
- PAN card
- Aadhar card
- Passport size photographs
- Address proof like voter ID, driving license, latest utility bill
- For salaried – latest salary slip or Form 16/ITR
- For self-employed – ITR, GST returns, biz license, etc.
- Senior citizens need to present one ID/address proof
- Minors nominees details, guardian’s documents
All documents need to be either originals for branch visit or self-attested scanned copies for cub zero balance account opening online. Photographs should be recent and properly clicked. Address and identity proofs must not be expired.
City Union Bank Zero Balance Account Welcome Kit
Once your City Union Bank zero balance account is opened, you will receive an exclusive welcome kit containing essentials to start transacting. Welcome kit contents in with city union bank online account opening zero balance are:
- Debit card for making purchases and withdrawing cash from ATMs
- Cheque book of 25 leaves (in applicable accounts)
- Passbook to record transactions
- SMS and email registration form for online alerts
- Feedback form and customer care details
- Guide on online/mobile banking services
- Account opening acknowledgement slip
- Terms and conditions leaflet
- Mini-statement carrying initial balance
The kit is packed in attractive envelope for you to redeem on day one. Debit card requires activation through net banking. All tools inside enable easy management and overview of account activity on the go.
City Union Bank Zero Balance Account Helpline
City Union Bank understands the need for prompt customer support regarding their zero balance accounts. Various helpline channels are available for quick issues resolution relating to city union bank open account online zero balance.
| Head Office: | 149, Big Street, Kumbakonam, Tanjore Distt Tanjore Distt Tanjore Distt, TN, IN |
| Helpline Number | 612 001 |
| Email id | [email protected] |
Final Word
City Union Bank has simplified the process of opening an inexpensive basic bank account through its zero balance account options. Both online and offline routes are available as per customers’ choice and convenience. Backed by swift customer service systems, these accounts empower millions with access to formal banking. Go ahead and select the suitable zero balance account to enjoy simple and affordable financial transactions.
FAQs
City union bank zero account opening options do not require you maintaining any minimum balance. However, for regular savings accounts, the minimum balance is Rs. 500. No penalty is imposed if the balance falls below the minimum.
City union bank zero account opening options do not require you maintaining any minimum balance. However, for regular savings accounts, the minimum balance is Rs. 500. No penalty is imposed if the balance falls below the minimum.
Several banks offer affordable zero balance accounts. City Union Bank, Union Bank and SBI YONO are good options. SBI Basic Savings Account needs no minimum balance and offers mobile/internet access. For senior citizens, Punjab National Bank Senior Citizen Savings Scheme is ideal as it offers higher interest rate without maintenance charges. Banks are selected based on individual needs.
Yes, you can easily open a bank account with zero balance requirement from City Union Bank and other banks. They offer basic savings accounts, salary accounts, BSBDA for general public and priority sector customers to facilitate easy banking access. Just fulfill KYC and submit minimal documents to start transacting without worries of minimum balance.
City Union Bank debit card allows cash withdrawals up to Rs. 25,000 per day from ATMs. This is the daily transaction limit for both financial and non-financial transactions together. For minors’ accounts, the daily ATM limit is Rs. 10,000. Bank may modify transaction limits from time to time based on regulatory guidelines for safety and customer convenience.
Disclaimer
This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.
