Whoever said wishes don’t come true hasn’t explored our offers!
  • City Union Bank Savings Account

    City Union Bank Savings Account

    City Union Bank was incorporated as 'The Kumbakonam Bank Limited' back in 1904. S.Krishna Iyer, Sarvashri R. Santhanam Iyer and V.Krishnaswami Iyenga were some of the twenty citizens of Kumbakonam who signed the first Memorandum of Association. Initially the bank was founded as a regional bank. In 1965, there was an amalgamation of the bank with two others; 'The Union Bank Limited' and 'The City Forward Bank Limited'. The name of the bank was also thus changed to 'The Kumbakonam City Union Bank Limited'. In 1980, the bank opened its first branch outside of TamilNadu. In 1987, the name was changed to 'City Union Bank Limited' to reflect the national image of the bank.

    City Union Bank Savings Account Interest Rate

    Interest will be calculated and paid into the account at half yearly or longer rests on the daily product basis. At present the rate of interest for Savings account is 4.00% Per annum.

    Types of Savings Accounts with City Union Bank

    1. CUB Excel Savings Account

      Eligibility : This type of Savings account is available to all individuals between the ages of 18 and 54 years. If the application is for a joint account, the eligibility will depend on the first name accountholder.

      Minimum balance to be maintained: Quarterly average balance of Rs.50000/- for at least one year is the minimum balance that account holders should maintain.

      Insurance coverage : In the event of death (due to any cause) Rs.1 lakh is the coverage.

      Documents required : Medical examination is not a requirement. The account holder need simply to declare his/her good health.

      The premium payable depends on the age of the customer:

      • For customers in the age bracket of 18 to 35 years, the premium is Rs.172/- per annum
      • For customers in the age bracket of 36 to 50 years, the premium is Rs.384/- per annum
      • For customers in the age bracket of 51 to 54 years, the premium is Rs.888/- per annum

      Nomination: It is compulsory to have nomination for all accounts

      Penalty: if the account holder is unable to maintain the minimum balance for some reason, they will be fined a penalty of Rs.150/- per quarter. However, the accountholder will still be eligible for insurance cover even if there is a default in the maintenance of minimum balance.

      Closure of accounts: In the event that the account holder closes the savings account before it completes one year, the claim shall be entertained until the end of that year.

      Other facilities in addition to insurance cover that the account holder can avail with this particular savings account:

      1. The account holder will be given free cheque book, which can include multicity cheque book.
      2. Complimentary VISA/ATM cards
      3. Complimentary Internet banking facility
      4. The free facility of withdrawing cash using either City Union Bank’s ATMs or other banks’ ATMs (18000 ATMs)
      5. Free facility of transferring money using RTGS
      6. limitless cash remittance
      7. Possibility to transfer funds between branches
      8. Subject to conditions, outstation cheques up to Rs.15000/- can be credited

      Extension facility: If the account holder would like an extension of the policy for one more year, he/she can request the bank in writing and submit it at a branch of the bank.

    2. CUB Young India Savings Account

    3. Eligibility: To be eligible for the type of Savings Account, applicants must be students between the ages of 18 and 25 years.

      The applicant must be introduced by the head of the educational institute where the applicant is a student or by an account holder.


      Age proof: Either the applicant’s birth certificate or SSLC mark sheet must be provided as proof of age

      Identity proof: The student must provide the id card or a bonafide certificate which is provided by the educational institution.

      Minimum balance: A minimum of Rs.500/- should be in the account

      Other facilities that ‘CUB Young India’ account holders can avail and are free of cost include:

      1. Avail an International VISA Debit Card. Everything from purchasing railway/flight tickets to books can be done online with this card.
      2. It’s possible to withdraw cash from over 11,00,000+ ATMs around the world.
      3. Outstation Cheque can be collected
      4. Mobile banking facility is available free of charge
      5. hostel fees, college fees and more can be paid online at the student’s convenience, 24X7
      6. Internent banking facility can be used to pay bills
      7. Account holders will not be charged for maintenance or Annual card cost.
      8. Funds can be transferred using Net Banking to any branch of CUB. It can also be transferred to other Banks using RTGS/NEFT
      9. Account holders will receive monthly statement of account via e-mail
    4. Juniors India Savings Acount

    5. This saving bank scheme is designed for children.

      Eligibility: Children as young as 1 day old can benefit from this savings account. The maximum age of children eligible for this type of savings account is 17 years. A parent or guardian/ court appointed guardian can manage the account for the child.

      Introduction: An accountholder must introduce the applicant

      Age proof: Birth certificate needs to be provided as proof of age

      Minimum amount to be maintained:

      A monthly average of Rs.250/- for cheque book a/c needs to be maintained.

      A monthly average of Rs.100 /- for non-cheque book a/c needs to be maintained

      Maximum amount : There is no maximum limit that can be in the account

      Rate of interest: The same as ordinary Savings bank accounts which is currently 3.50% per annum.

    Minimum Balance Requirements for a Savings Account at City Union Bank


    Without Cheque Book

    With Cheque Book




    Semi urban










    • The bank has full right to accept or deny an application for opening a Savings account with them. The applicant is usually expected to be introduced by an account holder. The Bank does not need to provide a reason for refusal.
    • A minimum of five years has to be completed before it is possible to encash a term deposit.
    • An individual can open a savings account either by themselves or open a joint account with more than one person.
    • Even minors, as young as 14 years old, can open a savings account. It can be operated by themselves or can be managed by an adult for them.
    • Blind and illiterate persons can also open a Savings Account as long as they have proper introductions and fulfill other criteria.
    • As long as they are approved by the Bank, Associations, Societies, Clubs, Schools and religious/charitable institutions can open savings accounts.
    • Usually the bank do not allow Trusts to open Savings Account with it.

    Opening a City Union Bank Savings Account

    It’s a simple process to open a savings account with City Union Bank. You can do it online by visiting the official website of City Union. You will be guided through with step-by-step instructions. Once you press ‘Apply’, you will need to give your basic information in the application form. Following which, a City Union Bank representative will get in touch with you to further process your application.

    Alternatively, you can simply visit a branch of City Union Bank to fill out the new account opening form in person. You will just have to submit this duly filled out form along with the required documents.

    You can deposit a minimum of Rs. 1000 or multiples of it. Income tax PAN number and photograph should be submitted with the application.

    Documents Requirements for City Union Bank Savings Account

    Accounts of individuals:

    1. Legal name of the individual, as well as any other names used

      • Identity card (which is to the bank’s satisfaction)
      • Driving licence
      • Passport
      • PAN card
      • Voter’s Identity Card
      • A letter from a recognized public servant or public authority which verifies the individual’s identity as well as their residence.
    2. Proof of address:

      • Bank account statement
      • Telephone bill
      • Letter from any recognized public authority
      • Ration card
      • Electricity bill
      • Letter from employer (must be to the satisfaction of the bank)

    Accounts of partnership firms:

    Legal name and address:

    • If registered, the registration certificate
    • The partnership deed
    • Any document that is valid and official, which identifies the partners in the partnership firm as well as those holding the Power of Attorney and their respective addresses.
    • The document ‘Power of Attorney’ which grants a partner/employee the permission to perform business on the firm’s behalf.
    • Telephone bill which is addressed to the partners of the firm/the firm.
    • Certificate of Memorandum and incorporation
    • Articles of Association
    • The Board of Directors’ document with the resolution to open an account. It should contain the information of who has the power to manage the account as well.
    • There should be officially valid document which identifies settlers, trustees, managers/ directors/founders, beneficiaries as well as those holding Power of Attorney. Their respective addresses should also be given.
    • The managing body of the association/ foundation’s resolution.

    Compare Multiple Savings Accounts. Apply Online and Get e-Approved instantly

    reTH65gcmBgCJ7k - pingdom check string.
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.