Registration for Newsletters
1.Target GroupAny un-banked population segment uptill denied basic banking facilities due to stipulation of minimum balance requirements and levying of service charges. The target group will include low-income families in rural/ urban areas, industrial/ agricultural labourers in rural/ urban areas and non-pensioner senior citizens.2. Area of operation:From all the branches of the Bank.3.Eligibility:The account may be opened in the name of an individual or in the name of two or more individuals.In case of Joint account, it can be operated jointly or severally, with either or survivor (or) former or survivor clause. Account may be opened in the name of minor, to be operated by natural guardian. Minor at the age of 13 can operate account individually. An illiterate person can also open account jointly with literate but in that case, the mode of operation will be ‘Former or Survivor’ where illiterate would operate the account and literate will be the survivor4.Initial deposit and Minimum balance The account can be opened and continued with even 'zero' balance.
5. Introduction & KYC Norms:As per KYC norms required for opening normal SB accounts. In case a person who wants to open a Basic SB account is not able to produce any of the documents necessary for completing KYC norms of the Bank, the bank may open as per relaxed KYC norms circulated from H.O. time to time.
7.Cheque Book One free cheque book containing 10 leaves will be issued every calendar year under the following terms and conditions.
Subsequent issuance of cheques will, however, be charged as per normal Saving Bank Account
8. Facility of ATM-cum-Debit card: No ATM-cum-Debit card shall be issued.9. United Suraksha Yojana (USY): Accidental Insurance Cover under USY may be extended to willing customers by payment of annual premium as applicable.10. Nomination facility:Available.11. Service Charges / Incidental charges:
Under the scheme, there are no incidental charges for i) Accounts becoming in -operative; and ii) Closure of accounts. In all other cases, the Service Charges / Incidental Charges will be same as applicable to normal SB accounts.
12. Other rules:
All other rules will be same as applicable as our normal SB accounts as enumerated in Bank’s Manual of Instruction, Part-2 on Deposits and subsequent amendments made thereof from time to time.
13. Migration from UNITED Basic SB account to Normal SB account and vice-versa Customers of United Basic SB account can migrate to Normal SB account by fulfilling the minimum balance stipulation and other conditions as applicable to Normal SB accounts. The KYC norms as applicable to Normal SB accounts are also need to be strictly observed. In case of migration, the account number will, however, remain the same. Migration from Normal SB account to UNITED Basic SB account may also be allowed as per written request from the account holder.