Open Bank Account in Union Bank of India : Union Bank of India is one of the largest, trustworthy and a growing bank in India. If you plan to open a new bank account, one option must be Union Bank of India. Opening a Bank Account in Union Bank of India is not just visiting the Branch and getting your Bank Account opened immediately. There are a few formalities which you must complete to get a Union Bank of India Account. Also, you must know about the eligibility criteria to open a new bank account in Union Bank of India. Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in Union Bank of India.
How to Open a Bank Account in Union Bank of India ?
Before we move ahead to know the procedure to open a bank account in Union Bank of India, let us first know about the eligibility to open Union Bank of India Account.
Eligibility to Open a Bank Account in Union Bank of India
Before you make a visit to Union Bank of India, it’s a good thing to check whether you meet all the criteria for opening an account with Union Bank of India. Most of the Union Bank of India Branches will require the following :
1) Applicant must be an Indian Citizen.
2) Applicant must be over 18 years of age (Except Minor Account).
3) Applicant must have the necessary KYC Documents to open Union Bank of India Account. Usually Proof of Address, Proof of Identity and PAN Card is required.
4) Applicant should have a Guarantor who has a Bank Account in the same branch of Union Bank of India (Sometimes not needed).
5) Applicant must have minimum deposit amount for the Account(Not applicable for some accounts). For Example :- Rs.1000 is required to open a normal Savings Account in Union Bank of India.
Types of Bank Accounts offered by Union Bank of India
Once you know that you are eligible to open a bank account in Union Bank of India, you must choose the account that best suits your need. Here is a list of Bank Accounts that are being offered by Union Bank of India.
1) Basic Savings Bank Deposit Account : This type of account is a basic savings account in which the holder does not need to maintain any minimum balance. This account comes with facilities like cash deposit, cash withdrawal, credit / receipt of funds via electronic payment channels or by cheques. Account holders of this account are provided with an ATM / ATM cum Debit / RuPay Debit Card. In this Account, there is no upper limit on the number of deposits which an account holder can make per month. Account holders using this account can make a maximum of 4 withdrawals per month, including the withdrawals from branches and ATMs. Account Holders are not charged for any of the services that are given with this account. Also, there is no penalty fee for non-operation or activation of an inactive/dormant account.
2) Regular Savings Bank Account : This is the most common type of savings account which offers the facility of anytime, anywhere banking through its branches, ATMs, net and phone banking. Account holders with this Account are issued ATM cum Debit cards without any issuing charge and also can earn reward points on their debit card spends. Account holders can also make use of nomination facility on this account. This account also comes with Zero Balance Facility, which is beneficial for students who can open a Regular Savings Bank Account. Account Holders get a free debit card, 2 free cheque books every year and Accidental Insurance Cover on debit card usage, absolutely free of charge. This account also comes with U-Mobile feature by which you can make a balance enquiry, recharge your mobile, make bill payments and transfers using NEFT, all through your Smartphone.
3) Union Savings Flexi Deposit Account : All Flexi Deposit account holders are issued a debit card absolutely free of charge. With the Flexi Deposit account, the customer is issued a Passbook which contains all details of the SB Flexi Account, linked FD(Fixed Depsoit) Flexi Account and TDS adjustment(if any). Account holders with this account can get up to 5 cheque books, free of charge per year along with NEFT/RTGS facility, which is also free of charge. The Account Holder can also avail nomination facility with this type of savings account. Upon maturity, customers can also roll over their deposit for another term.
4) Current Account : Current Account is Bank Account provided to a business entity like Partnership firm, Limited Companies, Pvt. Ltd. Companies etc.
Read Also : Joint Accounts in India
Steps to Open a Bank Account in Union Bank of India
Once you have checked your eligibility and made up your mind with one of the bank accounts, you can proceed with the steps to open Union Bank of India Account.
1) Gather the required KYC Documents : The first and the foremost thing to do is to gather all the necessary KYC documents to open a Bank Account in Union Bank of India. You will need to provide the photostat copies of your Address Proof, Identity Proof, PAN Card, 2 Passport Size Photographs. Also, you would be required to produce the originals during verification process.
2) Collect & Fill Account Opening Form : Once you have gathered all the documents, you need to collect Union Bank of India Account Opening Form from any branch of Union Bank of India. Fill up Union Bank of India Account Opening Form completely and put your signature wherever required. You can also take help of Union Bank of India Officials if you have problem in filling up the form. You can also apply for Internet Banking and Mobile Banking through this form. However, you need to activate Union Bank of India internet banking and mobile banking separately.
3) Visit the Branch : After you have the duly filled Union Bank of India Account Opening form and the necessary KYC Documents, you need to visit the Union Bank of India Branch in which you want to open your Bank Account.
4) Verification of Form & Documents : Talk to the Accounts Person or the Branch Manager about the Verification of form and KYC documents for new bank account. You will then be sent the concerned person for verification of form and the documents. Once the verification process is complete, you can proceed to the next step.
5) Submit Minimum Deposit Amount : Submit the minimum deposit amount by filling up the cash voucher by entering the amount as per the bank account you opted for. Example : – Rs.1000 in case of a Regular Savings Bank Account. You need to write New Account in place of your name in the cash deposit voucher.
6) Collect Passbook and ATM Card : Finally, you will be getting your Union Bank of India Passbook and ATM-cum-Debit Card with your ATM Pin. Your ATM will take 1-2 days to get activated and your first transaction should be done by using Union Bank of India ATM only. If you want a custom ATM Card with your name on it, you need to apply for it separately.
Note : If you have applied of a Cheque Book and/or Internet Banking, then you will be getting your Cheque Book and Internet Banking credentials by post at your registered address.
Good Practices after you get a Bank Account in Union Bank of India
1) If you can memorize your Bank Details, PINs and Passwords , it’s a good idea to commit the following information to your memory so that you don’t need to rely on the documents in the future.
2) To make it more safe, Make a note of your Account Number, ATM Card no., PIN etc at a safe and secure location.
3) Save Union Bank of India Customer Care Number in your mobile phone.
4) Contact Union Bank of India customer care in case of any mishap with your Bank Account or if you have lost ATM card. If you think your account information has fallen into wrong hands, you must call or visit Union Bank of India to request to block your account or a particular service on your account to prevent unauthorized use.
Read Also : How to Block Union Bank of India ATM Card ?
Things you must know before opening a bank account in Union Bank of India
You must know some important things before you apply for a bank account in Union Bank of India. You can clear the queries mentioned below at any Union Bank of India Branch or by calling Union Bank of India Customer Care Numbers.
- Is there a monthly/quarterly fee for maintaining this Account in Union Bank of India ? If so, what is it?
- Is there a minimum balance that I must keep within this Union Bank of India account? If so, what is it? What sorts of fees have to paid if I go under that limit?
- What is the interest rate of my Union Bank of India Account? How often is the interest generated ?
- Is there any limit to the amount of transactions per month (deposits/withdrawals, ATM uses)?
- Where all can I withdraw cash without paying any extra fees ?
- What is the fee for using other than Union Bank of India ATM ?
Union Bank of India Customer Care Numbers
At any point of time, you need help from Union Bank of India Customer Care department, you can either reach them on the Toll Free numbers given below or can opt to write at the e-mail address mentioned below.
Toll Free Numbers : 1800 22 22 44 (For Resident Indians) / +918025302510 (For NRIs)
Write to Union Bank of India Customer Service Department : N/A
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