Gen-Nex Savings Account

An average quarterly balance of 2,500 in metro/ urban Banking Outlets and 750 in semi-urban/ rural Banking Outlets is required to be maintained. This account can be opened jointly with a guardian and can be operated by the parent/ guardian until the minor becomes a major and further, the account can be converted into a regular savings account when the minor becomes a major.Higher ATM withdrawal and purchase limits. The interest is calculated on daily product basis and credited quarterly.Zero Liabilities coverage on Debit card.

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Eligibility
Benefits
Fees and Charges

Children below 18 years of age can open a Minor Savings Account with Utkarsh Small Finance Bank.

Facility to auto transfer funds to Minor's Account
Classic Rupay Debit Card with Unlimited Free ATM access at (own/other) Banks within India
Customers are offered Higher ATM withdrawal and purchase limits
Lower ATM withdrawal and purchase limits as protection against misuse
Free SMS Alerts

Interest Rate on Domestic Savings *:

Balance in ()	Rate of Interest w.e.f Dec 01, 2022
Balance in ()	Rate of Interest w.e.f Dec 01, 2022
Balance upto 1 lakh	4.25% p.a.
Incremental balance above 1 lakh upto 25 Lakhs	6.50% p.a.
Incremental balance above 25 lakhs up to 10 Crore	7.25% p.a.
Incremental Balance above 10 Crore	7.50% p.a.

* Conditions Apply

	Gen-Nex Savings Account
	Average Balance Requirements	Gen-Nex Savings Account
	Average Balance Requirements	AQB
	Metro & Urban Banking Outlets	2,500/-
	Semi-Urban & Rural Banking Outlets	750/-
	Changes for Non-Maintenance	Metro/Urban: 25/- per 500/- of shortfall, Max 125/- for quarter; Semi Urban/Rural: 25/- per 500/- of shortfall, Max 37.50/- for quarter
	Banking Outlet Cash Transactions
	Cash Deposit Transactions- Free limits/month	5 lakhs
	Charges Beyond Free Limit	3 per 1000 (Min 50)
	Cash Deposit Transactions(Folio Charges)	10 transactions
	Charges Beyond Free Limit	20/-
	Cash Withdrawal - Free limits/month	Unlimited
	Cash Withdrawal charges beyond free limit	Not Applicable
	DD/PO Issuance
	Demand Drafts Payable on own Bank Locations	Upto 10,000/- 50/- Above 10,000/- 4/- per 1,000/- (Min 50)
	Demand Drafts Payable at Correspondent Bank Locations	1/- per thousand, min 25/ DD + Correspondent Bank charges
	Revalidation	100/-
	Duplicate DD Issuance	100/-
	DD/PO Cancellation	100/-
	Cheque Issuance/ Collection Charges
	Free Leaves	One free cheque book per quarter (20 leaves)
	Charges Beyond Free Limit	2/leaf
	Cheque Return Charges (Outward)	200/- per cheque
	Cheque Return Charges (Inward)	500/- per cheque
	NEFT/RTGS/IMPS transactions (Online)
	RTGS Outward	Free
	NEFT Outward	Free
	IMPS Payments	Upto 1 lakh -5 Above 1 lakh - 2 lakhs - 15
	Phone/Mobile Banking
	SMS Alerts	Free
	Doorstep Banking Services
	Cash Pickup Charges (within city limits with a radius of 5 km from base banking outlet)	Not Available
	Cheque Pickup Charges (within city limits with a radius of 5 km from base banking outlet)	Not Available
	Other Charges
	Quarterly Physical Statements	Free
	Email Statements	Free
	Stop Payment Instructions	100/- per cheque
	Signature, Address and Photo attestation	100/- per instance
	Duplicate Interest & Balance Certificate Issuance Charge	100/- per instance
	Account Related Charges
	Account Closure	Upto 14 days – Nil Above 14 days up to 12 months - 500/- Above 12 month- Nil.

For Debit Card Variants & Charges, kindly refer to the Card Section

For complete details on Fees and Charges effective from 01st Sep 2022, please click here

Eligibility

Children below 18 years of age can open a Minor Savings Account with Utkarsh Small Finance Bank.

Benefits

Fees and Charges

	Gen-Nex Savings Account
	Average Balance Requirements	Gen-Nex Savings Account
	Average Balance Requirements	AQB
	Metro & Urban Banking Outlets	2,500/-
	Semi-Urban & Rural Banking Outlets	750/-
	Changes for Non-Maintenance	Metro/Urban: 25/- per 500/- of shortfall, Max 125/- for quarter; Semi Urban/Rural: 25/- per 500/- of shortfall, Max 37.50/- for quarter
	Banking Outlet Cash Transactions
	Cash Deposit Transactions- Free limits/month	5 lakhs
	Charges Beyond Free Limit	3 per 1000 (Min 50)
	Cash Deposit Transactions(Folio Charges)	10 transactions
	Charges Beyond Free Limit	20/-
	Cash Withdrawal - Free limits/month	Unlimited
	Cash Withdrawal charges beyond free limit	Not Applicable
	DD/PO Issuance
	Demand Drafts Payable on own Bank Locations	Upto 10,000/- 50/- Above 10,000/- 4/- per 1,000/- (Min 50)
	Demand Drafts Payable at Correspondent Bank Locations	1/- per thousand, min 25/ DD + Correspondent Bank charges
	Revalidation	100/-
	Duplicate DD Issuance	100/-
	DD/PO Cancellation	100/-
	Cheque Issuance/ Collection Charges
	Free Leaves	One free cheque book per quarter (20 leaves)
	Charges Beyond Free Limit	2/leaf
	Cheque Return Charges (Outward)	200/- per cheque
	Cheque Return Charges (Inward)	500/- per cheque
	NEFT/RTGS/IMPS transactions (Online)
	RTGS Outward	Free
	NEFT Outward	Free
	IMPS Payments	Upto 1 lakh -5 Above 1 lakh - 2 lakhs - 15
	Phone/Mobile Banking
	SMS Alerts	Free
	Doorstep Banking Services
	Cash Pickup Charges (within city limits with a radius of 5 km from base banking outlet)	Not Available
	Cheque Pickup Charges (within city limits with a radius of 5 km from base banking outlet)	Not Available
	Other Charges
	Quarterly Physical Statements	Free
	Email Statements	Free
	Stop Payment Instructions	100/- per cheque
	Signature, Address and Photo attestation	100/- per instance
	Duplicate Interest & Balance Certificate Issuance Charge	100/- per instance
	Account Related Charges
	Account Closure	Upto 14 days – Nil Above 14 days up to 12 months - 500/- Above 12 month- Nil.

For Debit Card Variants & Charges, kindly refer to the Card Section

For complete details on Fees and Charges effective from 01st Sep 2022, please click here