Don’t Get Lost in the Savings Maze: A Handy and Helpful Tip to Compare Different Savings Accounts and Pick the Best One for Your Goals:
When it comes to managing your hard-earned money, the right savings account can be your trusted sidekick. But how do you choose the one that suits your financial circumstances and goals? When there is an abundance of options available. However, people can be empowered to save wisely and safely if they are aware of the many kinds of savings accounts and their benefits.
In this column, we explore several kinds of savings accounts, including the Maxima Savings Account offered by Ujjivan Small Finance Bank as a fantastic example of how to save smart and simple in today’s world.
Privilege Savings Account
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If you are looking for a world of banking privileges, then Ujjivan’s Privilege Savings Account is the one for you. This account is designed for customers who maintain a high monthly average balance (MAB) of ₹25,000 and above, and want to enjoy unlimited free transactions and fund transfers across any bank ATM, internet banking, and mobile banking.
The Maxima Savings Account lets you redefine your privileges. It offers zero charges on common banking services, such as deposits, withdrawals, cheques, and inquiries. It also gives you a higher limit of ₹5 lakhs for POS and e-commerce, so you can shop with ease. Plus, you get a cover of up to ₹10 lakhs for personal accidents and disabilities, for your security and peace of mind. The Maxima Savings Account is perfect for saving on charges and getting more flexibility and protection.
Digital Savings Account
The Digital Savings Accounts for busy savers who prefer online banking. Operate entirely through digital channels like the USFB website, mobile app, or tab banking. Enjoy no minimum balance requirements, a complimentary debit card for the first year, five free transactions at both USFB and other bank ATMs, along with free NEFT, IMPS transactions, SMS alerts, and e-statements. Plus, avail of exclusive cashback and discounts at select merchant outlets. Simplify your banking experience today.
Senior Citizen Savings Account
Ujjivan introduces a Senior Citizen Savings Account for customers aged 60 and above. Enjoy no charges on the minimum balance, receive 25 free cheque leaves per quarter, and benefit from a complimentary ₹1 lakh personal accident insurance cover. Earn a higher interest rate of 7.75% on your savings account balance. Plus, receive special assistance at branches with dedicated senior citizen desks for a seamless banking experience tailored to the customer’s needs.
Minor Savings Account
Introducing to you the Minor Savings Account for children under 18. With the advantages of no monthly balance requirement, including a debit card option for minors over 10, unlimited 24/7 ATM transactions, and a complimentary education insurance cover of ₹1 lakh, this Ujjivan’s policy is perfect for fostering financial literacy and securing your child's future.
Regular Savings Account
If you want to save for a better future with a smaller amount and no charges for non-home branch transactions, then the Regular Savings Account is the one for you. This Ujjivan’s policy is designed for customers who want to open and maintain a savings account with a low monthly average balance (MAB) of ₹1,000.
Garima Savings Account
The Garima Savings Account is specially tailored for women who aspire to financial empowerment. Enjoy flexible eligibility criteria and balanced maintenance options. Benefit from a minor account linked to the primary with a standing instruction of ₹2,000 per month, a complimentary RuPay Classic Debit Card designed for women, and a higher interest rate of 7.50% on the savings account balance. Plus, receive free accidental death insurance cover of ₹2 lakhs and personal accident insurance cover of ₹1 lakh.
Classic Savings Account
The Classic Savings Account is ideal for customers who want to enjoy a high-end and rewarding banking service. This account is designed for customers who want to enjoy higher savings with interest rates up to 7.50%, a daily shopping limit of up to ₹1,00,000, and more savings and security for their transactions.
Basic Savings Bank Deposit Account
Introducing the Basic Savings Bank Deposit Account, your gateway to financial stability without the hassle. With no minimum balance requirements or charges for non-maintenance, enjoy a RuPay Classic Debit Card, 4 free withdrawals monthly, complimentary SMS alerts and e-statements, plus free NEFT and IMPS transactions. Benefit from exclusive cashback and discounts at select merchant outlets. Simplify your banking and reap rewards effortlessly.
Conclusion
As you can see, Ujjivan Small Finance Bank (USFC) offers a variety of savings accounts depending on your age, income, lifestyle, goals, and different needs and preferences of customers.
To open any of these savings account, you can visit the nearest USFB branch or apply online through the USFB website or mobile app. You can also contact the USFB customer care number at 1800 208 2121 for any queries or assistance.
