City Union Bank Excel Savings Account

The City Union Bank Excel Savings Account is targeted at depositors with a substantial amount. The minimum amount required to open this account is Rs. 50,000. The account has the added benefit of insurance cover from LIC at a very nominal premium.

Updated On - 05 Sep 2025
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No medical examination is needed and the cover extends to death by any cause. The CUB savings account holders can enjoy a number of benefits free of charge that include fund transfers, City Union Bank debit card transactions, checkbooks, Internet banking, and cash remittance.

Bank

City Union Bank

Category

Excel Savings Account

Initial Deposit Requirements

Rs.50,000

Average Quarterly Balance

Rs.50,000

Eligibility

Any individual between 18 years and 54 years of age is eligible. The account can be opened singly or jointly.

Debit Card Offered

ATM/VISA debit card free of charge

Interest Rate

3.50% per annum

Services Offered with City Union Bank Excel Savings Account:

The following services are offered with a City Union Bank Excel Savings Account:

Passbook

Passbook is issued free of cost

NEFT/RTGS

Free

Cheque Book

Free. Depositor can also opt for a multi city cheque book. Rs. 35 will be charged for courier.

Cash Withdrawal

Free withdrawal through City Union and other banks’ ATMs

Cash Remittance

Unlimited

Internet Banking

Free facility

Features of Union Bank Basic of India Savings Bank Deposit Account:

Some of the important features of City Union Bank Excel Savings Account have been listed below:

Insurance

Rs.1 lakh cover against death due to any cause at nominal premium. No medical examination required. Declaration of good health is sufficient. 18 to 35 years - Rs.172 per annum 36 to 50 years - Rs.384 per annum 51 to 54 years - Rs.888 per annum

Joint Accounts

Any two or more individuals can open a joint account. In case of joint accounts, the first name account holder will be eligible for the insurance policy.

Remittance Facility

Inter-branch fund transfer and RTGS is available.

Nomination Facility

Mandatory

Outstation cheque

Instant credit of outstation cheques up to Rs. 15,000. Conditions apply.

Account Closure

If you close the account before the end of 1 year, insurance claims will be taken into account till the end of 1 year.

Fees and Charges for City Union Bank Excel Savings Account:

For the Excel Savings Account, the important fees and charges applicable are listed below:

Service / Product

Fees & Charges

Neft/RTGS inward

Nil

Minimum Balance Shortfall Penalty

Rs. 150 per quarter

Outstation cheque drawn on City Union Bank

Free

Outstation cheque drawn on other banks

Rs. 2 per Rs. 1,000 subject to a minimum of Rs. 25

Account closure

Closure within 12 months - Rs. 275 Closure after 12 months - Rs.125

Debit card replacement

Rs.250 for customer requests. Bank induced replacement is free.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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