Union Bank of India offers zero balance accounts to its customers. Besides, Basic Savings Bank Deposit Accounts (BSBDA), Union Bank of India has introduced online zero balance account. Individuals don’t have to maintain any average balance in these savings accounts.
Basic Savings Bank Deposit Accounts (BSBDA)
BSBDA is a zero balance savings account that aims to cater to the unbanked sections of the society. This account is for individuals who don’t have a savings account with any bank.
Online zero balance savings account
Union Digital Savings Account (UDSA) is the online zero balance savings account of Union Bank of India. Individuals can open this bank account instantly online.
Basic savings account
Union Digital Savings Account (UDSA)
Basic Savings Account
The documents needed to open a basic savings account will depend on the type of account opened.
Here are some documents that are accepted as proof of identity and address for individual account:
Digital savings account
While Aadhaar card is needed to open most digital savings account, Aadhaar is not compulsory to open Union Bank digital savings account. It is because the account is not opened through the e-KYC process applicable in other online savings account.
Basic savings zero balance account
Customers can’t open basic savings account online. You need to visit the bank branch to open the account.
Fill the account opening form, nomination form, original KYC documents along with attested photocopies and passport photo copies.
Union Bank digital account
Customers can open 0 balance of Union Bank of India online by filling up the online account opening form of Union Bank of India.
Step 1: Click here to open a savings account. Choose ‘Union Digital Saving Account’ from the option at the top. The first part of the online account form is applicant details. Add your details such as your full name, father’s name, mother’s name, PAN number and select one of the other photo id card from the drop list such as driving license, passport, voter ID card etc. Choose your state, district and preferred branch.
Step 2: In the next step, you need to enter your address and other details such as your communication address, annual income, occupation details, place of birth and marital status, etc.
Step 3: Add your nominee details. Enter the full name of your nominee, nominee address, etc. You can choose the different facilities that you want to avail such as internet banking, ATM cum debit card, mobile banking. Click on ‘Submit Application’.
You will get a reference id. Keep it safely for future reference. Now, you can download the application form and visit the bank branch that you have selected with your original KYC documents and passport photographs for verification.
And your Union Bank digital account is created.
Yes, you can open Union Bank zero balance online. You need to visit your bank branch to complete your account opening process.
There is no minimum balance requirement in Union Bank zero balance accounts.
You can open Union Bank digital savings account online by completing the online account form. However, to open basic savings account, you may need to visit the bank branch to open a bank account.
Resident individuals above 18 years can open online zero balance account with UBI. However, basic savings account can be opened by individuals, joint account holders and Hindu Undivided Family.
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