Product Details
Bank Name
Utkarsh Small Finance Bank
Account Name
Utkarsh Basic Savings Bank Deposit Account (BSBDA)
Account Type
Saving
Interest Rate
Upto 1 Lakh: 4.%. Between 1 and 5 Lakh: 6.25%. Between 5 Lakh up to 5 Crore: 7.50%
Free Debit Card
Yes Rupay Classic
_jfif.jpg)
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
0
Debit Card Charges
0
NEFT Charges
Free
IMPS Charges
Up to Rs. 1,000: INR 2.5 per transaction
Above Rs. 1,000 up to INR 25,000: INR 5 per transaction
Above Rs. 25,000 up to INR 5,00,000: INR 5 per transaction
Fees and Charges
Utkarsh Basic Savings Bank Deposit Account (BSBDA)
Special Features
Zero Liabilities coverage on Debit card
Eligibility Criteria
Indian resident.
Age should be a minimum of 18.
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Zero liabilities coverage on debit card.
Zero balance account.
Free debit card.
Free NEFT and RTGS transfer.
High interest rate.
Cons
Utkarsh has a limited ATM and branch network.
Limited value add features.
Utkarsh Basic Savings Bank Deposit Account (BSBDA) Review
The account offers high interest rate. The account comes with limited-value add features.
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?
Step-by-Step Guide to Opening a Utkarsh BSBDA
Visit a Utkarsh Small Finance Bank Branch: Locate the nearest branch to your residence or workplace.
Obtain an Account Opening Form: Request an account opening form from the bank representative at the branch.
Fill out the Form: Complete the form accurately with your personal details, including:Full Name
Date of Birth
Contact Information (Phone number, Email address)
Nominee details (if applicable)
Submit Required Documents: Provide the following original documents for verification and photocopy submission:Proof of Identity: Aadhaar card, PAN card, Voter ID card, Driving License, or Passport
Proof of Address: Aadhaar card, Voter ID card, Driving License, Passport, Ration card, or Utility bills
Complete KYC (Know Your Customer) Process: The bank will conduct KYC checks to verify your identity and address.
Account Activation: Once the verification process is complete, your BSBDA account will be activated.
Receive Account Details: You will receive your account number, debit card (if applicable), and other relevant information.