| Compare Saving Accounts |
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- Multi Gains Savings Account (MGSA) Scheme requires maintaining a minimum balance of Rs.25000/- to be maintained in a savings account.
- You can either upgrade your existing savings account to MGSA by filling in a simple declaration form OR open a new MGSA account.
- A Credit Card will be issued free for the first year with a limit of Rs.25000/- to the individual OR to either of the joint account holder.
- An International Debit Card will be issued free to the individual account holder OR either of the joint account holder wherever the ATM facility is available.
- Interest will be paid for unforseen delays in collection of instruments of MGSA account holders.
- If you desire, your MGSA account can be transferred to any of our branches in India free of cost.
- You are eligible for free transfer of funds up to Rs. 50,00,000/- per month.
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- Comprehensive Welcome Kit, containing International Debit Card, Internet Banking (Union e-Banking) PIN, Phone Banking (Union Dial) PIN and Multicity Cheque Book, is provided to the USSA holder at the time of opening. The Welcome Kit facilitates the USSA holder Any Where/Any Time Banking of his choice.
- USSA holder can use his Debit Card at over 1000 Union Bank ATMs at various locations in India free of cost.
- USSA holder can also access around 24000 ATMs in India bearing Cash Tree, SBI and VISA logo, and over 1 million ATMs globally bearing VISA logo.
- USSA holder can transact through internet (Union e-Banking) from his place of residence/work or anywhere, any time.
- USSA holder can, by dialling the telephone numbers specified, enjoy the benefits of phone banking (Union Dial).
- USSA holder can use his multicity cheques for cash withdrawals/ payments at any CBS branch located in all prime centres in India.
- USSA holder can apply for an overdraft facility to the extent of 90% of the net salary credited in the previous month, which will be considered at the discretion of the Bank.
- USSA can be opened with Zero Balance.
- USSA does not have minimum balance stipulation.
- USSA Opens doors for a wide range of additional financial services, such as Retail Loans (Home, Vehicle, Comfort), Insurance (life/non-life), Mutual Funds, Demat, Online Trading etc., subject to usual terms.
- USSA is offered to all CBS branches across the country.
- Union Bank of India reserves it’s right to change/alter/withdraw the terms and conditions of the scheme.
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- All resident individuals eligible to open a "No frills saving account" subject to the conditions that only one member of the family can open such account in single/joint name/s.
- Number of free customer induced debit entries will be restricted to 30 per half year including debit entries through ECS/ATM. Entries above 30 will be charged @ Rs.5/- per entry.
- Total credits in the account should not exceed Rs.100000/- in a year.
- There is no restriction on entries for deposit of Cash/Cheques in the account.
- The balance in all the accounts of the accountholders taken together in the bank should not exceed Rs.50,000/-.
- Note: If at any point of time the balance in the NO FRILL ACCOUNT exceeds Rs.50,000/- or total credits in the account in a year exceed Rs.100,000/-, the account will be treated as normal saving bank account and the facilities attached to "NO FRILLS" will not be available.
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