Ujjivan Small Finance Bank Savings Account Interest Rate – 2024

Ujjivan Small Finance Bank Limited, an India-based small finance bank, operates through three segments: Retail Banking, Treasury, and Corporate/ Wholesale Segments. Apart from its various financial products, it offers a variety of deposit accounts including savings accounts. 

At this bank, one can choose from multiple savings account options and avail Ujjivan Small Finance Bank savings account interest rates and other benefits. To learn more about this offering, continue reading this comprehensive blog. 

Latest Ujjivan Small Finance Bank Savings Account Interest Rates 2024

The table below shows the current Ujjivan Small Finance Bank savings account interest rates (with effect from November 15, 2023) applicable for NRI accounts too. 

Note: Senior citizens do not get any additional interest rates on savings accounts. 

Ujjivan Small Finance Bank Savings Account Minimum Balance Required

Refer to the table below to get to know the Monthly Average Balance (MAB) requirement for the saving accounts: 

Ujjivan Small Finance Bank Savings Account Charges 

Now that you know the Ujjivan Small Finance Bank savings account interest rates, let’s take a look at the service charges involved with various savings accounts:

1. BSBDA Small Savings Account

• Primary debit card AMC fee (second year onwards) – NA
• Joint debit card issuance fee (first year) – NA
• Joint debit card issuance fee (Second year onwards) – NA
• Reissuance of lost or damaged ATM card – NA
• ATM transactions beyond the limit (non-financial) – NA
• ATM transactions beyond the limit (financial) – NA
• ATM cash withdrawal transactions failed due to insufficient balance – NA
• Cash withdrawal at PoS -NA
• Cash deposit charges at a branch – Nil
• Cheque book fees – NA
• Issuance of DD – Nil
• Issuance of duplicate DD – NIL 
• Inward/outward IMPS – Inward – NIL Outward – NIL (up to ₹10,000)
• Inward/outward NEFT (through IB/MB) – NIL
• Inward/outward NEFT (through branch) – Inward – NIL Outward – NIL (up to ₹10,000)
• Inward/outward RTGS (through IB/MB/branch) – NA

2. BSBDA

• Primary debit card AMC fee (second year onwards) – NIL
• Joint debit card issuance fee (Second year onwards) – NIL
• Reissuance of lost or damaged ATM card – NIL
• ATM transactions beyond the limit (non-financial) – NIL
• ATM transactions beyond the limit (financial) – 10
• ATM cash withdrawal transactions failed due to insufficient balance – 21
• Cash withdrawal at PoS – 25
• Cash deposit charges at a branch – NIL
• Cheque book fees – ₹75 for 25 leaves cheque book
• Issuance of DD –
• Issuance of duplicate DD –
• Inward/outward IMPS –
• Inward/outward NEFT (through IB/MB) –
• Inward/outward NEFT (through branch) –
• Inward/outward RTGS (through IB/MB/branch) –

3. Regular Savings Account

• Primary debit card AMC fee (second year onwards) – ₹100
• Joint debit card issuance fee (first year) – ₹100
• Joint debit card issuance fee (Second year onwards) – ₹100
• Reissuance of lost or damaged ATM card – ₹150
• ATM transactions beyond the limit (non-financial) – ₹10
• ATM transactions beyond the limit (financial) – ₹21
• ATM cash withdrawal transactions failed due to insufficient balance – ₹25
• Cash withdrawal at PoS – 1% of the transaction amount
• Cash deposit charges at a branch – Free up to ₹2.5 lakhs per month; after that ₹4 per ₹1,000
• Cheque book fees – ₹75 for 10 leaves cheque book
• Issuance of DD – “₹75 for DD up to₹5,000;₹100 for DD above₹5,000”
• Issuance of duplicate DD – “₹75 for DD up to ₹5,000;₹100 for DD above ₹5,000”
• Inward/outward IMPS – “Inward – NIL
• Outward – ₹5 (up to ₹1,00,000);₹15 (above ₹1 lakh to ₹2 lakhs)”
• Inward/outward NEFT (through IB/MB) – NIL
• Inward/outward NEFT (through branch) – “Inward -NIL
• Outward – ₹2.25 (up to ₹10,000); -₹4.75 (from ₹10,001 – ₹1 lakh); ₹14.75 (from ₹1 lakh – ₹2 lakhs); ₹24.75 ( above ₹2 lakhs)”
• Inward/outward RTGS (through IB/MB/branch) – “Inward -NIL
• Outward – ₹24.50 (₹2 lakhs to ₹5 lakhs); ₹49.50 (₹5 lakhs and above)”

4. Minor Account

• Primary debit card AMC fee (second year onwards) – ₹100
• Joint debit card issuance fee (first year) – ₹100
• Joint debit card issuance fee (Second year onwards) – ₹100
• Reissuance of lost or damaged ATM card – ₹150
• ATM transactions beyond the limit (non-financial) – ₹10
• ATM transactions beyond the limit (financial) – ₹21
• ATM cash withdrawal transactions failed due to insufficient balance – ₹25
• Cash withdrawal at PoS – 1% of the transaction amount
• Cash deposit charges at a branch – NIL
• Cheque book fees – ₹50 for 10 leaves cheque book
• Issuance of DD – “₹75 for DD up to ₹5,000;₹100 for DD above ₹5,000”
• Issuance of duplicate DD – “₹75 for DD up to ₹5,000;₹100 for DD above ₹5,000”
• Inward/outward IMPS – “Inward – NIL
• Outward – ₹5 (up to ₹1,00,000);₹15 (above ₹1 lakh to ₹2 lakhs)”
• Inward/outward NEFT (through IB/MB) – NIL
• Inward/outward NEFT (through branch) – “Inward -NIL
• Outward – ₹2.25 (up to ₹10,000); -₹4.75 (from ₹10,001 – ₹1 lakh); ₹14.75 (from ₹1 lakh – ₹2 lakhs); ₹24.75 ( above ₹2 lakhs)”
• Inward/outward RTGS (through IB/MB/branch) – “Inward -NIL
• Outward – ₹24.50 (₹2 lakhs to ₹5 lakhs); ₹49.50 (₹5 lakhs and above)”

5. Senior Citizen Savings Account

• Particulars Senior Citizen Savings Account
• Primary debit card AMC fee (second year onwards) – NIL
• Joint debit card issuance fee (first year) – ₹100
• Joint debit card issuance fee (Second year onwards) – ₹100
• Reissuance of lost or damaged ATM card – ₹150
• ATM transactions beyond the limit (non-financial) – ₹10
• ATM transactions beyond the limit (financial) – ₹21
• ATM cash withdrawal transactions failed due to insufficient balance – ₹25
• Cash withdrawal at PoS – 1% of the transaction amount
• Cash deposit charges at a branch – Free up to ₹2.5 lakhs per month; after that ₹4 per ₹1,000
• Cheque book fees – Free 25 leaves cheque book per quarter
• Issuance of DD – “₹75 for DD up to ₹5,000;₹100 for DD above ₹5,000”
• Issuance of duplicate DD – “₹75 for DD up to ₹5,000;₹100 for DD above ₹5,000”
• Inward/outward IMPS – “Inward – NIL
• Outward – ₹5 (up to ₹1,00,000);₹15 (above ₹1 lakh to ₹2 lakhs)”
• Inward/outward NEFT (through IB/MB) – NIL
• Inward/outward NEFT (through branch) – “Inward -NIL
• Outward – ₹2.25 (up to ₹10,000); -₹4.75 (from ₹10,001 – ₹1 lakh); ₹14.75 (from ₹1 lakh – ₹2 lakhs); ₹24.75 ( above ₹2 lakhs)”
• Inward/outward RTGS (through IB/MB/branch) – “Inward -NIL
• Outward – ₹24.50 (₹2 lakhs to ₹5 lakhs); ₹49.50 (₹5 lakhs and above)”

6. Digital Savings Account    

• Primary debit card AMC fee (second year onwards)        –     ₹100
• Joint debit card issuance fee (first year)              –                   ₹100
• Joint debit card issuance fee (Second year onwards      ₹100
• Reissuance of lost or damaged ATM card       –             ₹150
• ATM transactions beyond the limit (non-financial)      –      ₹10
• ATM transactions beyond the limit (financial)           –          ₹21
• ATM cash withdrawal transactions failed due to insufficient –        ₹25
• Cash withdrawal at PoS                             –                1% of the transaction amount
• Cash deposit charges at a branch             –       NIL
• Cheque book     –                           ₹75 for 25 leaves cheque book 
• Issuance of DD            –  ₹75 for DD up to ₹5,000; ₹100 for DD above ₹5,000
• Issuance of duplicate DD      –                ₹75 for DD up to₹5,000;  ₹100 for DD above₹5,000
• Inward/outward IMPS         –                       Inward – NIL  Outward – ₹5 (up to ₹1,00,000);  ₹15 (above ₹1 lakh to ₹2 lakhs)
• Inward/outward NEFT (through IB/MB)  –      NIL
• Inward/outward NEFT (through bran –    Inward – NIL Outward – ₹2.25 (up to ₹10,000); – ₹4.75 (from ₹10,001 – ₹1 lakh); ₹14.75 (from ₹1 lakh – ₹2 lakhs); ₹24.75 (  above ₹2 lakhs) 
• Inward/outward RTGS (through IB/MB/branch) – Inward – NIL Outward – ₹24.50 (₹2 lakhs to ₹5 lakhs); ₹49.50 (₹5 lakhs and above)

Why Choose Ujjivan Small Finance Bank Savings Account?

You know that Ujjivan Bank savings account interest rate is one of the reasons why millions of customers choose to park their idle funds here. However, it is among some of the following factors equally noteworthy: 

• You can open a savings account from the comfort of your home and continue using it as bank representatives can come to your doorstep to help you open an account. This doorstep service is not exclusive to privileged customers, it is for everyone. 
• You can take advantage of the Ujjivan net banking and mobile banking facilities that let you avail financial services whenever and wherever you feel convenient. 

Key Benefits of Ujjivan Small Finance Bank Savings Account

These are some of the features of benefits that make Ujjivan Small Finance Bank stand out: 

• One can transfer a Ujjivan Small Finance Bank savings account to any branch without converting the account number. 
• Customers can get a variety of debit card designs to choose from that suit their preferences. 
• The savings account comes with a nomination facility. 
• Account holders can access security deposit lockers to keep valuables, important documents, and keepsakes protected. 
• Ujjivan SFB savings accounts allow users to link multiple alternative deposit accounts to improve timed deposit income on their surplus funds. 

How to Open an Online Ujjivan Small Finance Bank Savings Account?

To start earning Ujjivan Small Finance Bank savings account interest rates, you have to open an account first. Here’s what to do if you want to open an account online: 

• Step 1: Visit the official website of Ujjivan Small Finance Bank. 
• Step 2: Click on the ‘Login’ option and register using personal information. 
• Step 3: After you have successfully logged in using the credentials, you can select ‘Savings Account’ from the products and services list. 

Follow further instructions, and you will have a savings account in no time. 

How to Open an Offline Ujjivan Small Finance Bank Savings Account? 

Apart from calling the bank’s toll-free number and requesting a doorstep account opening, here’s what you can do to open an offline savings account at Ujjivan Small Finance Bank.  

• Step 1: Visit a Ujjivan SFB branch near you. 
• Step 2: Communicate with a bank representative and ask for an application form. 
• Step 3: Enter essential details, provide KYC documents, deposit the initial amount and submit it to the bank. 

After successful verification of your details, the bank will open your savings account. 

Eligibility Criteria to Open Ujjivan Small Finance Bank Savings Account 

Any resident individual above 18 years of age can open a Ujjivan Small Finance Bank savings account. However, the eligibility criteria slightly differ with each variant of the Ujjivan SFB savings account. 

If you are looking to open an account at Ujjivan SFB, you should connect with customer care personnel and collect information on the specific eligibility criteria of each savings account variant. 

Documents Required to Open Ujjivan Small Finance Bank Savings Account

Gather the following documents before applying for a savings account at Ujjivan SFB: 

• Voter identity
• Passport
• Aadhaar card
• Driving licence
• PAN card

Types Of Ujjivan Small Finance Bank Savings Account and Its Features

Take a look at the table below to gain a brief overview of the types of Ujjivan Small Finance Bank savings accounts and their distinctive features: 

1. Privilege Savings Account

• Transaction limits of ₹1 lakh per day in ATMs and ₹2 lakhs per day in shopping
• Accidental insurance up to ₹2 lakhs per annum
• Instant discounts on Amazon and Swiggy

2. Maxima Savings Account

• No service charge for commonly used banking services
• Daily ATM cash withdrawal limit of ₹2.5 lakhs

3. Digital Savings Account

• For new customers only (Existing customers cannot open this account)
• Free debit card for the first year
• Sophisticated mobile banking in 9 regional languages of your choice, fingerprint login, UPI, recharges, and bill payments
• 5 free transactions at any ATM

4. Senior Citizens Savings Account 

• Avoid queues and avail of priority service at any Ujjivan SFB branches
• Dedicated senior citizen desk to provide special assistance
• No charges are applicable for failing to maintain a minimum balance
• RuPay Classic Debit Card is free for a lifetime with a host of benefits

5. Minor Savings Account 

• No average monthly balance criteria, and no charges applicable for failing to maintain a minimum balance
• A joint account with a guardian can only be opened
• Upon request, there is a provision for a Debit card for minors who are above 10 years
• After a minor reaches 18 years, this account can be converted into a regular savings account

6. Regular Savings Account 

• No charges on non-maintenance of minimum balance
• RuPay Classic Debit Card and all associated benefits
• Have to pay no extra charge at any branch that is not your home branch

7. Garima Savings Account 

• Only resident Indian women (between 18 to 59 years of age) are eligible to open this account
• Free 5 demand drafts (DD) per month subject to a maximum cumulative DD amount of ₹2 lakhs
• On request, account holders will get 1 free chequebook of 10 leaves per quarter

8. Classic Savings Account 

• Access to highly developed mobile banking facility in 9 languages of your choice
• 10 free cheque leaves per quarter
• Free cash deposit limit of ₹3.5 lakhs per month

9. Basic Savings bank Deposit Account 

• Free 4 withdrawals per month (across all channels including internet banking, mobile banking, at branch, and ATM)
• Rupay Classic Debit card with zero maintenance and issuance charge

Ujjivan Small Finance Bank Savings Account Transaction Limit

Go through this table to get an idea of Ujjivan SFB savings account transaction limits: 

1. BSBDA Small Savings Account

• Debit card limits (daily) – NA
• Cash withdrawal limit (at branch) – Up to ₹10,000 per month

2. BSBDA

• Debit card limits (daily) – ATMs: ₹25,000 PoS Terminals and E-commerce: ₹50,000
• Cash withdrawal limit (at branch) – Unlimited (number of free transactions across all channels in 4; after that ₹50 per transaction)

3. Regular Savings Account

• Debit card limits (daily) – ATMs: ₹25,000 PoS Terminals and E-commerce: ₹50,000
• Cash withdrawal limit (at branch) – Unlimited 

4. Minor Account

• Debit card limits (daily) – ATMs: ₹25,000 PoS Terminals and E-commerce: ₹50,000
• Cash withdrawal limit (at branch) – Unlimited 

5. Senior Citizen Savings Account

• Debit card limits (daily) – ATMs: ₹25,000 PoS Terminals and E-commerce: ₹50,000
• Cash withdrawal limit (at branch) – Unlimited 

6. Digital Savings Account 

• Debit card limits (daily) – ATMs: ₹25,000 PoS Terminals and E-commerce: ₹50,000
• Cash withdrawal limit (at branch) – Unlimited 

How to Close a Ujjivan Small Finance Bank Savings Account?

To close a Ujjivan Small Finance Bank savings account, you can follow the steps below: 

• Step 1: Acquire the account closure form and fill it out with essential details. 
• Step 2: Attach KYC documents with the application. 
• Step 3: Surrender your debit card, balance cheque leaves, and passbook. 
• Step 4: When requested by the bank you will have to withdraw/transfer the remaining balance. The bank will then close your savings account. 

Ujjivan Small Finance Bank Savings Account Onboarding Kit

Ujjivan Small Finance Bank will send a welcome kit to new customers. The welcome kit will contain a personalised RuPay Classic Debit to allow customers to shop online at various e-commerce platforms or any PoS machines in offline stores. 

Final Word 

Considering the attractive Ujjivan Small Finance Bank savings account interest rates, you can start your financial journey by parking your idle funds in the bank’s savings account. However, before prioritising a particular type of savings account offered by the bank, it is advisable to verify the applicable interest rates. 

Disclaimer

This article is solely for educational purposes. Stable Money doesn't take any responsibility for the information or claims made in the blog.