Product Details
Bank Name
Ujjivan Small Finance Bank
Account Name
Ujjivan Senior Citizen Saving Account
Account Type
Saving
Interest Rate
Upto 1 Lakh - 3.5% Above 1 Lakh And Upto 5 Lakh 6% Above 5 Lakh And Upto 25 Crore 7%
Free Debit Card
Yes -RuPay Classic Debit Card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Up to INR 100,000 – INR 5
INR 1,00,000 to INR 2,00,000 – INR 15
Fees and Charges
Ujjivan Senior Citizen Saving Account
Special Features
Special assistance at branches with a dedicated senior citizen desk
Eligibility Criteria
Indian resident above the age of 60.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Special assistance at branches with dedicated senior citizen desk.
Lifetime Free RuPay Classic Debit Card with host of benefits.
No charges on non-maintenance of minimum balance.
Free 25 Cheque leaves per quarter.
Free SMS alert facility to your registered mobile number
Door step Services including financial(up to Rs.5000/-) and non- financial transactions.
5 free transactions per month at any other Bank’s ATM
Cons
Ujjivan has limited ATM and branch network.
Ujjivan Senior Citizen Saving Account
The account offers a number of value add features. The account also offers a high interest rate. Overall the account is a decent package for senior citizens.
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?
1. Visit a Ujjivan SFB Branch:
Go to the nearest Ujjivan Small Finance Bank (Ujjivan SFB) branch.
2. Obtain an Application Form:
Request a Senior Citizen Savings Account application form from the bank staff.
3. Fill Out the Form:
Complete the form with your personal and financial details.
4. Submit Documents:
Submit the filled-out form along with the required documents (see below).
5. Initial Deposit:
Make the required initial deposit (if any).
Documents Required:
Proof of Age:
Age proof (e.g., PAN card, Aadhaar card, birth certificate, passport)Identity Proof:
Aadhaar card, PAN card, passport, driver's license, or voter IDAddress Proof:
Passport, driver's license, voter ID, utility bills, or bank statementsPhotographs:Two recent passport-sized photographs