Union Bank of India Minimum Balance
Union Bank of India and their subsidiaries banks like Andhra bank & Corporation Bank have some rules and regulations for their saving and current account e.g. the customer has to maintain the regular minimum balance in their bank account.
In this guide, we will see the Union Bank of India minimum balance for the UBI bank account. The penalty means the charges vary with the location i.e. the charges are different for ruler area, urban area on your saving and current account.
Union Bank of India Minimum Balance for Saving account:
As you already know that the charges vary with a different location, now in the following section you will understand how much minimum amount you have to maintain in your UBI bank account? and if you failed to maintain minimum balance then what charge you have to pay to Union bank of India.
- Union Bank of India minimum balance for saving account without cheque book:
- Ruler Area: If you have a saving account in the ruler area then you have to maintain above Rs. 100/- in your bank account and plus you have to pay quarterly charges with 18% GST to the UBI Bank.
- Semi-Urban Area: If you have a saving account in the ruler area then you have to maintain above Rs. 250/- in your bank account and plus you have to pay quarterly charges with 18% GST to the UBI Bank.
- Urban/Metro Area: If you have a saving account in the ruler area then you have to maintain above Rs. 500/- in your bank account and plus you have to pay quarterly charges with 18% GST to the UBI Bank.
- Union Bank of India minimum balance for saving account with cheque book:
- Ruler Area: If you have a saving account in the ruler area then you have to maintain above Rs. 250/- in your bank account and plus you have to pay quarterly charges with 18% GST to the UBI Bank.
- Semi-Urban Area: If you have a saving account in the ruler area then you have to maintain above Rs. 500/- in your bank account and plus you have to pay quarterly charges with 18% GST to the UBI Bank.
- Urban/Metro Area: If you have a saving account in the ruler area then you have to maintain above Rs. 1000/- in your bank account and plus you have to pay quarterly charges with 18% GST to the UBI Bank.
The charges we mention here could be different because the UBI bank can change its account charges quarterly.
Also read: DOP Bank
Union Bank of India Minimum Balance for Current account:
The current account includes the withdrawals and deposits such as account are also called as the demand deposit account. The current account is generally associated with a huge transaction on regular basis.
In Union Bank of India, the current account has to maintain the minimum Rs. 1000 to Rs. 1500/- balance in the current account this stats for the semi-urban and urban location.
Union Bank of India cash deposit rules:
Free Cash deposit per month is restricted to Rs.1.00 lac Applicable Cash Deposit Charges will be levied beyond the prescribed limit. ( As per Service Charge Circular NoI.C.944 dated 19.08.2017) Per Day Maximum free Cash Deposit is restricted to Rs.50000/-. Beyond the limit, normal Cash Deposit Charges will be applicable for the difference amount.
Cash Withdrawal(self) at non-base branches is allowed up to Rs.25000/- No such limit for Cash Withdrawal at Base Branch.
Cash Withdrawals through DEBIT CARD and swiping on POS, as per the card limit.
People also ask:
What is the minimum balance in Union Bank?
In Union Bank of India as per the bank rules and policy, the customer has to maintain the minimum balance in their saving or current account we already mention how much balance you have to maintain in the UBI bank as per the ruler, semi-urban, and urban/metro areas.
Can I open a Zero balance account in Union Bank of India?
Yes, you can open the zero balance account in the Union Bank of India and not only the zero balance but you can also open the Jan Dhan account in UBI bank both links we mention here.
Which bank account is best in India?
In India, there are many banks that try to give you many attractive benefits, facilities but at end of the day all banks are the same you can’t find anything much special about any bank, the banks try to attract you by showing that they provide the best interest rate in market but after few days or months they started to provide the same interest to you that another bank is giving.
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Conclusion:
In this guide, we discussed the Union Bank of India Minimum Balance, we also mentioned how much balance you have to maintain in your saving and current account
By using the above methods you check the Union Bank of India Minimum Balance, please let us know if you have any queries regarding the article.