Product Details
Bank Name
Utkarsh Small Finance Bank
Account Name
Utkarsh Small Finance Bank U-INSTANT
Account Type
Saving
Interest Rate
Upto 1 Lakh: 4.%. Between 1 and 5 Lakh: 6.25%. Between 5 Lakh up to 50 Crore: 7.50%. Above 50 crores: 7.75%.
Free Debit Card
Virtual debit card
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Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0
NEFT Charges
0
IMPS Charges
0
Fees and Charges
Utkarsh Small Finance Bank U-INSTANT
Special Features
Video KYC for users.
Eligibility Criteria
Anyone above the age of 18 years residing in India.
PAN and AADHAAR are mandatory.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
No minimum balance is required.
No IMPS or NEFT transactions fee/
Free virtual debit card.
High interest rate.
Cons
No physical debit card is provided to the user.
The Bank has limited ATM and branch network.
Utkarsh Small Finance Bank U-INSTANT
The account offers high interest rate. The account can be opened digitally and offers a digital debit card. Overall it is a good account for Individuals who are looking for a good digital account.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai
Product Review
Account Opening and Procedure
How to open an Account?
Steps to Open a U-INSTANT Account:
Visit the Utkarsh Small Finance Bank Website: Go to the official website of Utkarsh Small Finance Bank.
Locate the U-INSTANT Account Option: Look for the section related to online savings account opening or the U-INSTANT account specifically.
Click on "Open Account" or a Similar Button: This will initiate the online application process.
Enter Your Details: Provide the required information, such as your name, date of birth, mobile number, email address, PAN card details, and Aadhaar card details.
Select Your Account Type: Choose the type of U-INSTANT account you want to open (if there are different options available).
Schedule a Video KYC Call: You will be given the option to schedule a video call with a bank representative for KYC verification.
Prepare for the Video KYC: Ensure you have your original PAN card and a white sheet of paper with a blue or black pen ready for the video call.
Complete the Video KYC: During the video call, the bank representative will verify your identity and other details.
Account Activation: Once the video KYC is successful, your account will be activated.
Download the Utkarsh Mobile App: Download the Utkarsh Mobile Banking app from the Google Play Store or Apple App Store.
Create an MPIN: Set up your mobile banking MPIN for secure access to your account.