Unity Small Finance Bank Savings Account
If you are a customer of Unity Small Finance Bank, then you can open a savings account with them. You can either visit the bank’s nearest branch or their website to open a savings account. On opening an account, the minimum balance, you will have to maintain is Rs.10,000 if you reside in an urban area and Rs.5,000 if you stay in a rural or semi-urban area.
Unity Small Finance Bank savings account
Unity Classic Saving account
Unity Classic Saving Account is the flagship saving account offered by Unity Small Finance Bank. The application process is simple and you can earn high interest on your savings. You can also easily track your spendings and save accordingly.
Unity Small Finance Bank Savings Account minimum balance required
Branches | Average Monthly Balance (AMB) |
Metro/Urban | Rs.10,000 |
Rural/Semi-Urban | Rs.5,000 |
Unity Small Finance Bank savings account interest rate
Particulars | Average Monthly Balance (AMB) |
Saving account balance up to Rs.1 lakh | 6% |
Saving account balance above Rs.1 lakh | 7% |
Note: The rate is effective 22nd Jan 2022
Features and benefits of Unity Small Finance Bank savings account
Some of the features and benefits of Unity Small Finance Bank savings account are:
- If you reside in a metro city or an urban area, then your Average Monthly Balance (AMB) should be Rs.10,000 and Rs.5,000 if you reside in a semi-urban area.
- Earn interest of up to 7% on your savings account balance
- The bank offers a variety of products such as lockers, term deposits, recurring deposits, etc.
- Classic Debit Card.
- Free at-par cheque
- Cheque/Cash pick up services*
- Free cash withdrawals at Unity Bank ATMs*
- Dedicated Relationship Manager
*To be launched soon
Eligibility Criteria
The eligibility criteria you will have to fulfill to open a savings account with Unity Small Finance Bank are given below:
- Individuals singly or jointly, minors aged 10 years and above, minors under natural/legal guardianship can open a bank account.
- Resident individuals (sole or joint account)
- Hindu undivided families.
- Trusts, societies, and governments can open a savings account with the bank.
Documentation Required
- Proof of identity such as PAN, passport, etc.
- Proof of address such as Aadhaar, utility bills, etc.
- Duly filled account opening application form
- Passport size photographs of the person(s) in whose name the account is being opened.
- Relevant documents in case of HUF, Sole Proprietorship, trusts, societies etc.
- Initial payment cheque.
Fees and Charges
Free look period. No service charges will be levied until 31st March 2023.
FAQs on Unity Small Finance Bank Savings Account
- Do I need to pay anything to open a savings account with Unity Small Finance Bank?
Depending on the type of location in which you reside, you will have to pay the Average Minimum Balance amount to open a savings account with the bank.
- Can I provide my rental agreement as proof of address?
Yes, you can provide a rental agreement as proof of address.
- Can I open a bank account in the name of my daughter?
If your daughter is aged 10 years and above and has a legal or natural guardian then a bank account can be opened in her name.
- How can I track my spendings?
You can log in to your Unity Small Finance Bank net banking portal and check the transactions made by you.
- Can I ask for an e-Statement from the bank?
Yes, you can ask the bank to send you an e-Statement to your email ID. You can also log in to your net banking portal and download the e-Statement.
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