What is U-INSTANT account?
It is an account that enables a new-to-bank customers to onboard oneself through digital platforms. Some of the features are:
- It facilitates customers to access banking services from anywhere
- It’s a Zero Balance maintenance Savings Account
- Provides a power-packed virtual Debit Card
- Free online money transfers
- Link the account for equated monthly instalment (EMI) payment
How much money can I deposit in this account?
A maximum of 1 lakh can be kept as account balance at a time in the U-INSTANT account.
In a financial year, a maximum of 2 Lakhs credit transaction is allowed in the U-INSTANT account. For higher limits over and above 1 lakh, the U-INSTANT account needs to be converted into a regular Savings Account with complete KYC (Know Your Customer) documentation either through visiting a branch or through V-KYC (Video KYC). The validity of the U-INSTANT account will be for one year from the date of opening the account, within which the customer will be required to convert the account into a regular Savings Account with complete KYC documentation as mentioned above.
How do I start using the Mobile Banking app once my account is activated?
Once the account is activated, the customer can download the UTKARSH MOBILE Application through google play store/apple app store and create MPIN. On successful completion of the above process, customer may start using the Mobile Banking Application.
What is a Virtual Debit Card? How do I use it?
It is similar to the physical debit card only that it in a digital format. The Bank provides it to the customer via a mobile banking application or this may be generated online while opening the U-INSTANT account. A Virtual Debit Card can be used to shop online, pay bills or recharges mobile/DTH.
Which all services are available to me once my U-INSTANT Account is opened?
Once your U-INSTANT Savings Account is opened, you can:
- Register for our mobile banking and internet banking facilities
- You can transfer money from your U-INSTANT account
- You can shop online using your U-INSTANT Virtual debit card
What is Video KYC?
Video KYC enables you to open a full KYC bank account instantly. It is an option in which you receive a video call from our Bank representative to complete your KYC process after entering your details as instructed by the representative. The video call eliminates a visit to the branch physically to complete your KYC.
What do I need to keep ready before I initiate my V-KYC?
Please have these things ready for your call:
- Your original permanent account number (PAN) Card
- Aadhaar card
- Mobile number that is linked/registered to your Aadhaar and Pan Card
- Ensure that you have a good internet connection
- Log in to the call with a device that has a camera and a microphone
- Permission to access your device's location, camera and microphone
- Please ensure you are not using a VPN
- Blank white sheet and a black pen for signature
Is Video KYC safe?
Yes, our Video KYC feature is completely secure. The information you provide during a video call is encrypted with an advanced technology. Additionally, with AI-based face recognition, additional OTP verification, and thorough video validation, we keep all your information secure. To ensure this please only click on the link provided in our bank’s website or mobile banking app.
Can I do my video call at a later date?
Yes there is a schedule option where you can schedule a call at a later date. However, please ensure to complete your video KYC call within 7 days of opening.
Why do I need to grant access to my camera and microphone?
Since, it is a video verification process, we need consent to use your camera and microphone during the V-KYC.
What kind of device can I use?
You can use any device such as Computer, Laptop, Mobile or Tablet which is enabled with a good working camera, microphone and internet connection.
What are the advantages of V-KYC?
- This is a contactless and paperless way to verify your identity and onboard for the account based relationship with the Bank
- Eliminates the physical presence in the bank thereby saving time and travel
- Conducive for senior citizens, pregnant women and differently abled individuals
Do I need to book an appointment to do V-KYC?
No, V-KYC is available 9:30 am to 6:30 pm between Monday to working Saturday, excluding bank holidays and second & fourth Saturdays. You have an option to schedule your V-KYC as per your convenient.