A savings account is more than just a place to keep your money—it’s your first step toward financial planning. The Union Bank of India saving account is a trusted option for those looking to save smartly with the convenience of modern banking. Backed by one of India’s leading public sector banks, it offers safety, accessibility, and features tailored for everyday banking needs.
Whether you want to start with a basic Union Bank zero balance account or a premium savings plan, Union Bank offers flexibility for everyone. The Union Bank saving account opening process is simple and can be done online or by visiting a nearby branch. With low charges and a reasonable Union Bank of India savings account minimum balance requirement, it’s suitable for both beginners and experienced savers.
If you’re looking for a reliable Union Bank account that fits your lifestyle, Union Bank’s savings options are worth exploring.
Types of Union Bank Savings Accounts
Union Bank of India offers various types of savings accounts to cater to the needs of every customer. Whether you’re looking for digital convenience or a zero balance facility, there’s a Union Bank account for everyone.
1. Regular Savings Account
A standard account designed for everyday banking needs.
Key Features:
- Suitable for salaried individuals and general users
- Access to ATM/debit card, internet & mobile banking
- Attractive Union Bank savings account interest rate
- Minimum balance in Union Bank of India varies by location (urban, semi-urban, rural)
- Non-maintenance may lead to Union Bank minimum balance charge
2. Union Digital Savings Account
An account designed for those who prefer banking online.
Key Features:
- Easy Union Bank of India account opening online process
- Ideal for tech-savvy users and frequent mobile banking customers
- No need to visit the branch for UBI account opening
- Supports digital KYC
- Some variants offer zero balance features
3. Basic Savings Bank Deposit Account (BSBDA)
A financial inclusion initiative with no balance requirement.
Key Features:
- Perfect Union Bank zero balance account
- No Union Bank minimum balance charge
- Comes with a free RuPay debit card
- Limited number of withdrawals per month
- Suitable for low-income groups and beginners
4. Savings Account for Minors / Students
Designed for students and young account holders.
Key Features:
- Can be opened jointly with a guardian
- Low or zero minimum balance in UBI savings account
- Limited transaction limits to promote saving habits
- Access to passbook and debit card facilities
- Encourages early financial literacy
Also Read: SBI Saving Account – Interest Rate, Minimum Balance & More 2025
5. Savings Account for Senior Citizens
Special account for individuals aged 60 and above.
Key Features:
- Higher Union Bank savings account interest rate
- Priority service at branches
- Free cheque book and relaxed balance rules
- Concessions on certain banking charges
- Safe and accessible with both online and offline support
Whichever account suits your lifestyle, Union Bank new account opening online makes it easy and quick to get started. Before applying, do check the minimum balance in Union Bank of India for your chosen account to avoid unnecessary charges.
August 2025 Union Bank of India Savings Account Interest Rate
A Union Bank of India saving account is a safe and convenient way to manage your money while earning interest on your balance. Whether you’re a salaried professional, a student, or a senior citizen, Union Bank offers various savings account options to suit your needs.
The Union Bank savings account offers competitive interest rates based on your account balance. With easy Union Bank account access through online and mobile banking, and a smooth Union Bank saving account opening process, it’s a reliable choice for customers across India.
If you’re planning for a Union Bank of India account opening, here’s a detailed table showing interest rates across different savings accounts and balance slabs.
|
Savings Account Type |
Interest Rate (p.a.) |
|
Regular Savings Account |
2.75% – 3.40% |
|
Union Digital Savings Account |
2.75% – 2.90% |
|
Basic Savings Bank Deposit Account (BSBDA) |
2.75% |
|
Senior Citizen Savings Account |
2.75% |
|
Minor/Student Savings Account |
2.75% |
Important Notes:
- Interest is calculated on a daily balance basis and paid quarterly.
- The above interest rates are applicable across all Union Bank accounts, unless otherwise stated.
- For the latest updates, always refer to the official bank website before proceeding with your Union Bank of India account opening.
- The Union Bank new account opening online process is simple, quick, and paperless for most account types.
Union Bank of India Saving Account Eligibility Criteria
To open a Union Bank of India saving account, whether it’s a regular account or a Union Bank zero balance account, you must meet some basic eligibility requirements. The bank ensures that its accounts are accessible to a wide range of individuals, including students, salaried employees, homemakers, and senior citizens.
Here’s who can apply for UBI account opening:
- Indian residents (individuals or jointly)
- Minors above 10 years of age (with or without a guardian)
- Senior citizens (60 years and above)
- Students and low-income individuals (eligible for Union Bank zero balance account)
- Hindu Undivided Families (HUFs)
For most accounts, the Union Bank of India account opening online option is available, making the process convenient and paperless.
Keep in mind that the Union Bank of India savings account minimum balance may vary based on the type of account and your location. If you want to avoid charges, always check the minimum balance in UBI savings account or look for a zero balance option.
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Union Bank of India Saving Account Documents Required
To complete your Union Bank of India account opening online or offline, you’ll need to provide standard KYC documents. These documents help verify your identity and address.
Here’s the list of documents required for opening a Union Bank account:
- Proof of Identity (any one):
- Aadhaar Card
- PAN Card
- Passport
- Voter ID
- Driving License
- Proof of Address (any one):
- Aadhaar Card
- Electricity or Telephone Bill (recent)
- Passport
- Ration Card
- Recent Passport-sized Photographs (usually 1–2 copies)
- PAN Card or Form 60 (if PAN is not available)
For minors, students, or senior citizens, additional supporting documents may be required, depending on the account type. If you’re applying for a Union Bank zero balance account, simplified documentation may be accepted under the Basic Savings Bank Deposit Account (BSBDA) scheme.
Also, don’t forget to check the minimum balance in Union Bank of India if you’re not going for a zero balance account. Some savings accounts may have a Union Bank of India saving account minimum balance requirement to avoid penalty charges.
How to Open a Union Bank of India Saving Account?
Opening a Union Bank of India saving account is a quick and simple process. Whether you’re looking for a regular savings option or a Union Bank zero balance account, the bank offers multiple choices for every type of customer. You can open the account both online and offline, depending on your convenience.
Online Process (Union Bank New Account Opening Online)
- Visit the official Union Bank of India website.
- Click on ‘Open Savings Account’ or ‘Apply Now’.
- Select your preferred account type – regular, premium, or zero balance account.
- Fill out the digital form with your personal and KYC details.
- Upload scanned copies of documents like Aadhaar, PAN, photo, etc.
- Submit the form and wait for verification.
- Once verified, your Union Bank account will be activated and account details will be shared via SMS or email.
Offline Process
- Visit your nearest Union Bank of India branch.
- Ask for the Savings Account opening form.
- Fill in the required details and attach photocopies of necessary documents.
- Submit the form along with your initial deposit amount (if applicable).
- After processing, the bank will issue your passbook and ATM card.
Things to Know:
- Union Bank savings account interest rate varies between 2.75% and 3.00%, depending on the balance maintained.
- Be aware of Union Bank minimum balance charges if you fail to maintain the required balance.
- For a Union Bank of India current account minimum balance, different rules apply depending on the account type and location (urban/rural).
- Most Union Bank accounts offer mobile and internet banking facilities.
Whether you’re a student, salaried professional, or senior citizen, Union Bank offers account options tailored to your needs. Plus, with the ease of online application, UBI account opening has never been more convenient.
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Union Bank of India Savings Account Charges & Fees August 2025
Understanding the charges and fees associated with your Union Bank savings account is essential to managing your money smartly. Each type of account has a different minimum balance requirement, and if not maintained, certain penalties may apply. Here’s a quick look at the charges for different Union Bank accounts.
|
Account Name |
Minimum Balance Requirement |
Minimum Balance Charges |
|
Regular Savings Account |
₹500 – ₹1,000 (based on branch location) |
₹100 + GST (if balance falls below limit) |
|
Basic Savings Bank Deposit Account (BSBDA) |
Zero Balance |
No charges |
|
Union Digital Savings Account |
Zero Balance |
No charges |
|
Union Classic Savings Account |
₹5,000 – ₹15,000 (depending on city type) |
₹250 + GST (urban) if balance not maintained |
|
Union Platinum Savings Account |
₹1,00,000 |
₹500 + GST |
|
Union Mahila Plus Account (for women) |
₹1,000 |
₹100 + GST |
|
Union Bank of India Current Account |
₹5,000 – ₹25,000 (based on account type) |
₹500 + GST if non-maintenance |
What is the minimum balance of Union Bank of India savings account?
The minimum balance for a Union Bank of India savings account varies from ₹500 to ₹1,000 depending on the account type and location.
What is the Union Bank of India savings account interest rate?
The Union Bank of India savings account interest rate ranges from 2.75% to 3.40% per annum based on the deposit amount.
What is the Union Bank of India savings account limit?
There is no maximum deposit limit for most savings accounts, but withdrawal and transaction limits may apply depending on the account type.
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