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Frequently Asked Questions

Personal Loans

What can be a use for a personal loan (PL)?

Personal Loans from Ujjivan Bank can be used for several expenses such as Marriage, Vacation, Home renovation, Educations, Pay off of other debts, Purchase of the vehicle, etc.

What are the eligibility criteria to avail personal loans from Ujjivan Bank?

are the eligibility criteria to avail personal loan from Ujjivan bank-

  • Age limit should be between 22-58 years (58 at the end of loan tenure)
  • A salaried individual is having min work experience of 2 years
  • Residing in the same house for at least one year
  • Minimum take home salary of `15,000

Do I need to pledge something as security for getting a PL?

No. A personal loan is an unsecured loan. You don’t need to pledge anything as security.

Is there a minimum personal loan amount that I need to borrow?

Yes, Personal Loan from Ujjivan Bank offers a minimum of ₹ 50,000 and maximum of ₹ 15 Lac.

What is the tenure of a personal loan?

Tenure of personal loan can vary between 1-5 years, on the rests of 6 months.

Can I apply for a personal loan jointly with my spouse?

No, presently personal loan at Ujjivan is available to ‘Individuals only’, so you can not club income of your spouse with your income for loan eligibility.

How is the personal loan disbursed?

Once a personal loan is approved it is disbursed directly to your salary account.

How to repay the personal loan?

The EMIs for Personal Loan will be deducted from your salary account through ACH/SI mandate. If the ACH is not honored due to insufficient funds, then you can pay in cash by visiting our branch or can also pay online by visiting payment links provided on our website.

Do you offer to top up on existing Personal Loans?

No, Ujjivan doesn’t offer any top up on existing Personal Loan.

How do I approach Ujjivan Bank for a Personal Loans?

You can apply for a personal loan in Ujjivan by calling our toll free number 1800 208 2121, visiting our branch, ATM or visit our website https://www.ujjivansfb.in/.

In which location we can avail Ujjivan Personal Loan?

Currently, we are offering Personal Loan in the following locations-

Ahmedabad Delhi Kolkata Pune
Ankleshwar Faridabad Mumbai Surat
Bangalore Ghaziabad Mysore Vadodara
Bharuch Gurugram Noida Chennai
Coimbatore Cochin Mysore

What are the documents required to apply for personal loans from Ujjivan?

Following are the documents required to apply for the Personal Loan from Ujjivan

  • PAN Card and Aadhaar card
  • Valid current address proof if the address in Aadhaar address differs
  • Three months’ payslip
  • Six months bank statement
  • Company ID card

What happens if I miss an EMI payment or there is an ECS bounce?

In the course of EMI default, the bank will levy EMI bounce charge of `250 plus taxes and penal interest of 2.5% per month on the overdue amount for the number of days of delay.

What are the prevailing rates for personal loans?

The rates for the personal loan at Ujjivan vary between 16.50%-20% with EMI starting from as low as `2459 per lac. Having said that the personal loan given to an individual depends upon his profile and loan amount needed. To know more, please click on check your eligibility button in our website.

Is there any extra charge payable when applying for a personal loan?

There are no additional charges to be paid up front. Following are the only charges applicable -

  • Processing Fee
  • Insurance Premium
  • Stamp Duty (In case E-sign fails)

All the above charges will be netted off from your loan amount at the time of disbursement

Are personal loan interest rates fixed or floating?

Interest rates for Personal Loan will be fixed(reducing balance).

Do you offer an Insurance Facility for the Loans, what would be the premium amount?

Yes, the Insurance facility provided with the loan is credit shield which will cover the loan outstanding in case of unfortunate death of the customer. The premium will depend upon the age of the customer, loan amount and tenure and will be informed to the customer at the time of application process.

What are pre-payment/foreclosure charges?

If you foreclose the loans before completion of 12 EMIs, then it will be 2% on principal outstanding, plus taxes as applicable and if you foreclose after completion of 12 EMIs- 1% of the principal outstanding, plus taxes as applicable. Any part payments are not allowed.

How can I check my eligibility of the Personal Loan?

You can check your eligibility and view EMI amount, processing fees, repayment schedule, etc. by visiting our website or calling our Phone banking team on 1800 208 2121.

What are the different options to apply for the Ujjivan Personal Loan?

After checking your eligibility, you will have two options to fill out the application form and submit the documents. Either you can apply online via Self Mode or by directly interacting with our Loan Officer via Assisted Mode. You will also be eligible for a rebate/discount on your Processing Fees if you opt for Self Mode for Personal Loan Application.

What is the Self Mode of Application Process?

Self Mode option of the application process allows the customers to apply for the Personal Loan by filling the complete application form and uploading the required documents online. After submission of application process through self-mode, application instantaneously moves for credit appraisal thus reducing the turn around time(TAT) for the customer.

What is the Assisted Mode of Application Process?

Assisted Mode of application process offers Customer convenience of having Loan Officer for form filling, document collection and resolving of queries/doubts. In this mode, our Loan Officer will visit you and complete the process of application.

What are the benefits of applying through Self Mode?

If you apply through Self Mode, You will get ₹ 1000 discount on the Processing Fee, and Your loan disburses faster because you don’t have to wait for our Loan officer to visit and complete the application process.

How can I check the status of my Loan application?

You can check your status by clicking on Track your Application button on our website. You can also call our customer care number and provide your application reference number and mobile number to know the status of your loan.

How is having a higher credit score beneficial?

A higher credit score indicates that you have a good track record concerning loans that you have borrowed in the past. Maintaining a credit score of 700 and above is always good. Ujjivan offers up to 1 % interest waiver for CIBIL score >700.

What are the key steps in the loan approval process?

Following are the key steps involved for availing Personal Loan:

  • Application
  • Documentation
  • Verification
  • Sanctioning and Processing of the loan
  • Disbursement

Submitting a complete and valid set of documents is the most important step for faster loan amount disbursement. To avoid delays in loan processing and disbursement, do keep all necessary documents ready.

What would be my installment payment date?

You can select the repayment date of your personal out of the options 1st, 5th, and 10th. The repayment once selected cannot be changed.

How can I update my mailing address, mobile no, and email-id registered under my loan account?

Please submit a written request by visiting our branch for updating your details.

How do I get my loan statements, repayment schedule and Pre closure projection?

You can download all the above by logging into your internet banking/mobile banking. You can also call our Phone banking on 1800 208 2121 or visit our branch and place a request.

Once the loan has been repaid, will the Bank send me some confirmation?

The Bank issues a No Due Certificate (NOC) to the customer after the closure of the loan. The NOC will be made available on our Internet Banking and Mobile Banking platform for the customer to download.

Savings Account

How do I approach Ujjivan Small Finance Bank to open a Savings Account?

You may open a Savings Account with Ujjivan Small Finance Bank through any of the following channels:

  • Call on our toll free number 1800 208 2121
  • Place a request through our website/
  • Walk into any of our branches

What is the rate of interest I will earn on the balance in my Savings Account?

Interest on a Savings Account is paid at 4.00% p.a. on a daily end of day balance, w.e.f. February 1, 2017.

What is the frequency of interest payout for a Savings Account?

Interest earned on your Savings Account balance shall be credited to your account on Quarterly basis.

What happens if I don't use my savings account for a very long time?

The account becomes dormant if there are no customer initiated transactions (excludes system generated transactions like credit interest, debit interest), in the account for a continuous period of two years.

If the account status is 'Dormant', transactions through Direct Banking Channels like ATM, Net Banking, PhoneBanking are not be allowed by the Bank.

What is the procedure to add/modify or delete a nominee for all my accounts?

Obtain an application form from any Ujjivan Small Finance Bank branch, fill in the application form duly signed by all the holders and submit it to your nearest branch.

How do I register for Email Statement/s?

You may choose either of the following options to register for an Email Statement of your Account:

How can I change / add the email ID in my account?

Please submit the application form available at the Branch (duly signed by all the holders).

How do I update my PAN number?

Please follow the procedure mentioned below to update you PAN number:

Step 1) Submit a written request specifying your updated PAN number

Step 2) Give a self-attested photocopy of your PAN card. (Carry originals for verification)

What is the time taken to realize outstation cheques?

  • Cheques drawn on metros and state capitals (other than Sikkim and North Eastern states) where USFB has a branch: 7 business days
  • Cheques drawn on major cities where USFB has a branch: 10 business days
  • Cheques drawn on locations where USFB has a correspondent bank arrangement: 14 business days
  • Cheques drawn on locations where USFB has neither a branch nor a correspondent bank arrangement: 14 business days

For more details on the outstation cheque collection policy, click here. For other queries, Contact Us.

How can I request for Physical Statement/s?

E-Statement of Accountscan be downloaded through Net Banking and printed by you. You may also avail a statement of account from your nearest Ujjivan branch as and when required which is chargeable at `50 per statement. Further, you may contact the branch to leave standing instructions to receive physical monthly statement of accounts which shall also be chargeable at `50 per annum.

Reissuance of ATM/Debit Card PIN?

You may submit a request at the nearest Ujjivan branch or contact our phone banking toll free number 1800 208 2121.

How can I change / update the address for my account?

You may submit a written request at the nearest Ujjivan branch along with requisite documents.

How do I activate a 'Dormant' Savings Account?

Please follow the steps mentioned below to activate your account:

Step 1) Approach the branch in person.

Step 2) Submit a written request for activation of your dormant account, signed as per operating instructions in the account.

Step 3) Furnish proof of identity and Address (carry the original for verification)

Step 4) Initiate a transaction and your account will be activated once again.

How Do I Change / Add my Mobile Number?

You may contact your nearest Ujjivan branch to update your registered mobile number.

Do I have any facility for Standing Instruction?

Yes, you can set up standing instructions through your Ujjivan Small Finance Bank Savings Account . A few examples of the same are as below:

  • Transfer to a Recurring Deposit
  • Make recurring payments like RD Installments, Loan EMIs, etc.

For more details please contact your nearest Ujjivan Small Finance Bank branch.

What are the different channels through which I can access my Ujjivan Small Finance Bank Savings Account?

You can access your Savings Account through:

  • Ujjivan Small Finance Bank branches
  • Ujjivan Small Finance Bank Website – www.ujjivansfb.in
  • Ujjivan Small Finance Bank ATMs
  • Ujjivan Small Finance Bank’s Phone Banking Toll Free Number – 1800 208 2121
  • Ujjivan Small Finance Bank’s Mobile Banking app

Can an Individual have any number of 'Basic Savings Bank Deposit Account' in one bank?

No. An individual is eligible to have only one 'Basic Savings Bank Deposit Account' in one bank.

Whether a 'Basic Savings Bank Deposit Account' holder can have any other saving account in that bank?

Holders of 'Basic Savings Bank Deposit Account' at Ujjivan Small Finance Bank will not be eligible for opening any other savings account in Ujjivan Small Finance Bank. If a customer has any other existing savings account in the bank, he / she will be required to close it within 30 days from the date of opening a 'Basic Savings Bank Deposit Account'.

Whether the ‘Basic Savings Bank Deposit Account’ can be opened by only certain types of individuals like poor and weaker sections of the population?

No. The 'Basic Savings Bank Deposit Account' should be considered as a normal banking service available to all customers, through branches.

Whether there are any restrictions like age, income, amount etc. criteria for opening BSBDA by banks for individuals?

No. Banks are advised not to impose restrictions like age and income criteria of the individual for opening BSBDA.

Whether the normal saving bank account can be converted into BSBDA at the request of customer?

Yes. You may do so by submitting a written request at the nearest Ujjivan Small Finance Bank branch. The features and services available in BSBDAs shall be applicable to the account from the following month.

What are the conditions stipulated for accounts which are additionally to be treated as ‘BSBDA-Small Account’?

As notified in terms of Govt of India notification dated December 16, 2010, BSBDA-Small Accounts would be subject to the following conditions:

i. Total credits in such accounts should not exceed one lakh rupees in a year.

ii. Maximum balance in the account should not exceed fifty thousand rupees at any time

iii. The total of debits by way of cash withdrawals and transfers will not exceed ten thousand rupees in a month

iv. Foreign remittances cannot be credited to Small Accounts without completing normal KYC formalities

v. Small accounts are valid for a period of 12 months initially which may be extended by another 12 months if the person provides proof of having applied for an Officially Valid Document.

vi. Small Accounts can only be opened at CBS linked branches of banks or at such branches where it is possible to manually monitor the fulfilments of the conditions.

What features and benefits are offered with the BSBDA Small Accounts?

You can access your Savings Account through:

  • You need not deposit an initial amount and you don’t have to maintain an Average Monthly Balance.
  • Free passbook facility for all account holders (individuals)
  • Enjoy free cash and cheque deposits at all Ujjivan Small Finance Bank branches and ATMs
  • Enjoy NEFT and IMPS services

What are the eligibility criteria to open a BSBDA Small Account?

You are eligible to apply for a BSBDA Small Accountif:

  • You do not have any other banking relationship with Ujjivan Small Finance Bank
  • are a resident individual and do not have complete KYC.

To be more specific, a residential individual who does not have:

  • Photo ID proof as per the bank’s acceptable list of documents.
  • Address proof as per the bank’s acceptable list of documents.

What are the eligibility criteria to open a Minor Savings account?

A Minor Savings Account can be opened for your child as long as your child is a minor (up to 18 years of age) and necessary KYC documents are provided.

What are the KYC requirements to open a Minor Account?

Following are the KYC documents required to open a Minor account:

  • Proof of date of birth of minor
  • Latest photograph (Passport size) – One
  • Identity and address proof of the parent/ guardian (RBI mandated KYC)
  • Relationship proof

Does the minor account have to be closed when my child turns major?

No.The existing minor account can be converted to a regular savings account upon submission of requisite proof of your child having attained majority at the nearest Ujjivan Small Finance Bank branch.

Current Account

What are the benefits of Ujjivan’s Current Account - Regular?

  • Free Cash Deposits upto Rs.75,000 per month across all Ujjivan branches across the country
  • 50 multicity cheques every quarter
  • Maintain the account at a nominal Minimum Average balance(MAB) of `5,000/-
  • Access your account through various channels such as Net Banking, Mobile Banking, ATM, Phone Banking, SMS Banking etc.
  • Money transfer through IMPS/NEFT/RTGS available
  • Daily withdrawal limit of `30,000/- across ATMs, Point of Sale terminals and e-commerce sites
  • Unlimited ATM transactions allowed on Ujjivan’s ATM
  • 5 transactions allowed on other banks ATMs (metro and non-metro areas)
  • Account closure in any Ujjivan branch across the country
  • Anywhere banking! – Ujjivan follows a centralized banking system and has no concept of base and non-base branches

How is a Current Account – Premium different than Current Account – Regular?

  • Free Cash Deposits upto 10 times the MAB maintained in the previous month across all Ujjivan branches across the country
  • 100 multicity cheques every quarter
  • Maintain the account at a nominal Minimum Average Balance(MAB) required of `10,000/-
  • Daily withdrawal limit of `40,000/- across ATMs, Point of Sale terminals and e-commerce sites
  • 10 transactions allowed on other banks ATMs - metro area and 5 in non-metro areas

What is the initial deposit required to open Ujjivan Current Account?

The initial deposit to open a Current Account – Regular and Premium is `1,000/-

How am I eligible for a Current Account?

You are eligible to operate a Regular Current account if you fall under any of the following categories:

  • Individuals
  • Sole proprietorships
  • One person companies
  • Partnership
  • Limited Company
  • Limited Liability Partnership

What is MAB and how is it calculated?

Monthly Average Balance or MAB is the average of day end balance in the account for all the days in a month.

Is there any penalty for not maintaining the MAB?

You will be charged a fee of `150/- per month for not maintaining the MAB for Current Account Regular and a fee of `200/- for not maintaining the MAB for Current Account – Premium.

What are my charges and limits on cash deposit and withdrawal in any Ujjivan Branch in my Current account- Premium?

Enjoy 100 free cash depositand withdrawal transactions per month across any Ujjivan branch beyond which you will be charged `10 per transaction.The free cash deposit limit is up to 10 times the MAB maintained in the account in the previous month anywhere in the country, beyond which you will be charged `2.5 per `1,000/-

Additionally, there is no limit on the amount of cash withdrawn from a branch.

What are my charges and limits on cash deposit and withdrawal in any Ujjivan Branch in my Current Account- Regular?

Enjoy 50 free cash deposit and withdrawal transactions per month across any Ujjivan branch beyond which you will be charged `10 per transaction.The free cash deposit limit is up to `75,000/- beyond which you will be charged `2.5 per `1,000/-

Additionally, there is no limit on the amount of cash withdrawn from a branch.

Must I open Current account in each location where I have my company office?

No. As an Ujjivan Current account holder you have the advantage of a single account, multi-location banking facility.

Can I access my Current Account from any Ujjivan Bank branch?

Yes, you can. Our state of the art centralized banking system provides you with the flexibility of accessing your account from any branch pan-India

What are the documents required for opening a Current Account of Individual?

  • Identity proof and address proof
  • Recent Photograph – One
  • PAN Card of the proprietor (In case PAN card is not available then Form 49 A along with Form 60 if applied for PAN)
  • No objection certificate (if the individual is enjoying credit facility from any other bank (s)), with tracer for a fortnight for response from the other bank.

Any of thefollowing documents could be used for proof of identity and address

  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Passport
  • Driving License
  • PAN card
  • Voter Identity Card
  • Job card issued by NREGA duly signed by an officer of the State Government

What are the documents required for opening a Current Account of a sole proprietorship firm?

  • Mandate to open account – Sole proprietor
  • Proof of Identity of Proprietor
  • PAN Card of the Proprietor (In case PAN card is not available then Form 49 A along with Form 60 if applied for PAN)
  • Proof of identity, address and activity of the concern
  • No objection certificate (if the firm is enjoying credit facility from any other bank (s)), with tracer for a fortnight for response from the other bank.

Any of the Following documents could be used for proof of identity

  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Passport
  • Driving License
  • PAN card
  • Voter Identity Card
  • Job card issued by NREGA duly signed by an officer of the State Government

Any of the following documents could be used to establish proof of address

  • Any certificate issued for registration/operations/Trade License/business by Local/ State/ Central Government/ Government Agency/ SEBI/ IRDA/ ICAI/ ICSI/ ICWAI/ Office of Registrar of Newspapers for India in the name of entity/firm. Eg: Sales Tax, TIN/ VAT/ TAN etc.
  • Latest copy of Electricity Bill, not more than 3 months old.
  • Latest copy of Telephone Bill from Telecom operator, not more than 3 months old.
  • Certificate issued by Municipal Corporation/ Local Self Government Bodies confirming address of the firm.
  • Latest 3 months Bank Statement from a scheduled commercial bank with account opening cheque/Bank passbook/Original letter from existing banker with account opening cheque.

** This is only indicative list. Please visit your nearest branch for details

What are the documents required for opening a Current Account of One person Companies?

  • Certificate of incorporation
  • Memorandum and Articles of Association
  • Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account
  • Identity proof for all authorized signatories
  • Copy of the any one officially valid document to prove the address
  • No objection certificate (if the firm is enjoying credit facility from any other bank (s)), with tracer for a fortnight for response from the other bank
  • PAN Card of the entity

Any of the following documents could be used for proof of identity

  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Passport
  • Driving License
  • PAN card
  • Voter Identity Card
  • Job card issued by NREGA duly signed by an officer of the State Government

What are the documents required for opening a Current Account of Partnerships?

  • Partnership deed
  • Certificate of incorporation/registration or proof of application for certificate of incorporation
  • Account opening Mandate – Declaration to be signed by all partners
  • Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf
  • Identity proof documents for all authorised signatories: Table 1
  • Proof of Identity , address and activity of the concern (any one document which confirms Entity Name/ Address / Business including any of the above mentioned documents) : Table 2
  • No objection certificate (if the firm is enjoying credit facility from any other bank (s)), with tracer for a fortnight for response from the other bank
  • PAN Card of the entity

Any of the following documents could be used for proof of identity

  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Passport
  • Driving License
  • PAN card
  • Voter Identity Card
  • Job card issued by NREGA duly signed by an officer of the State Government

Any of the following documents could be used to establish proof of address

  • Any certificate issued for registration/operations/Trade License/business by Local/ State/ Central Government/ Government Agency/ SEBI/ IRDA/ ICAI/ ICSI/ ICWAI/ Office of Registrar of Newspapers for India in the name of entity/firm. Eg: Sales Tax, TIN/ VAT/ TAN etc.
  • Latest copy of Electricity Bill, not more than 3 months old.
  • Latest copy of Telephone Bill from Telecom operator, not more than 3 months old.
  • Certificate issued by Municipal Corporation/ Local Self Government Bodies confirming address of the firm.
  • Latest 3 months Bank Statement from a scheduled commercial bank with account opening cheque/Bank passbook/Original letter from existing banker with account opening cheque

** This is only indicative list. Please visit your nearest branch for details

What are the documents required for opening a Current Account of Limited Liability Partnerships (LLP)?

  • Limited Liability partnership (LLP) agreement
  • Certificate of incorporation with Registrar of Companies (ROC)
  • Mandate to open bank account – LLP declaration
  • PAN card in the name of the firm
  • List of designated partners of LLP along with designated partner identification number (DPIN) downloaded from the MCA website duly attested by the BBL/BSDL with the notation “Downloaded & Verified from Site” under his / her signature and employee number.
  • Identity proof for all authorised signatories/partners
  • Proof of identity, address and activity of the concern (any two document which confirms Entity Name/ Address / Business)
  • No objection certificate (if the firm is enjoying credit facility from any other bank (s)), with tracer for a fortnight for response from the other bank

Any of the Following documents could be used for proof of identity

  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Passport
  • Driving License
  • PAN card
  • Voter Identity Card
  • Job card issued by NREGA duly signed by an officer of the State Government

Any of the following documents could be used to establish proof of address

  • Any certificate issued for registration/operations/Trade License/business by Local/ State/ Central Government/ Government Agency/ SEBI/ IRDA/ ICAI/ ICSI/ ICWAI/ Office of Registrar of Newspapers for India in the name of entity/firm. Eg: Sales Tax, TIN/ VAT/ TAN etc.
  • Latest copy of Electricity Bill, not more than 3 months old
  • Latest copy of Telephone Bill from Telecom operator, not more than 3 months old
  • Certificate issued by Municipal Corporation/ Local Self Government Bodies confirming address of the firm
  • Latest 3 months Bank Statement from ascheduled commercial bank with account opening cheque/Bank passbook/Original letter from existing banker with account opening cheque

** This is only indicative list. Please visit your nearest branch for details

What are the documents required for opening a Current Account of Private limited company

  • Mandate to open account – Board Resolution
  • Certificate of incorporation
  • Memorandum and articles of association
  • Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account
  • Identity proof for all authorised signatories
  • Copy of the any one officially valid document to prove the address
  • No objection certificate (if the firm is enjoying credit facility from any other bank (s)), with tracer for a fortnight for response from the other bank
  • PAN Card of the entity

Any of the following documents could be used for proof of identity

  • Aadhaar card issued by Unique Identification Authority of India (UIDAI)
  • Passport
  • Driving License
  • PAN card
  • Voter Identity Card
  • Job card issued by NREGA duly signed by an officer of the State Government

Any of the following documents could be used to establish proof of address

  • Any certificate issued for registration/operations/Trade License/business by Local/ State/ Central Government/ Government Agency/ SEBI/ IRDA/ ICAI/ ICSI/ ICWAI/ Office of Registrar of Newspapers for India in the name of entity/firm. Eg: Sales Tax, TIN/ VAT/ TAN etc.
  • Latest copy of Electricity Bill, not more than 3 months old.
  • Latest copy of Telephone Bill from Telecom operator, not more than 3 months old.
  • Certificate issued by Municipal Corporation/ Local Self Government Bodies confirming address of the firm.
  • Latest 3 months Bank Statement from a scheduled commercial bank with account opening cheque/Bank passbook/Original letter from existing banker with account opening cheque. ** This is only indicative list. Please visit your nearest branch for details

Fixed Deposit

What is a fixed deposit (FD)?

Fixed deposit (FD) is an account where a sum of money is kept with the Bank, whereby the Bank pays interest at a pre-determined rate for the time duration of the deposit. The rate of interest paid for fixed deposit varies according to amount and period.

What is the minimum deposit amount required for opening a fixed deposit account?

The minimum amount required for opening a fixed deposit account is `1,000, For amounts more than `1,000, in multiples of `100.

What is the range of tenure for which I can open a fixed deposit account?

You can deposit money for as short a period as 7 days and up to 10 years.

What are the Interest rates offered by the Bank on fixed deposits?

What is the penal rate of interest in case of premature withdrawal or part withdrawal?

Please refer to our penal rate of interest charges. Click here.

At what frequency will I receive interest on my fixed deposit?

  • For periodic pay out fixed deposits with monthly/quarterly/half yearly/annually payouts, interest is calculated on simple interest basis.
  • In case of monthly payouts, interest is calculated on simple interest but at a discounted rate.
  • For fixed deposits with quarterly payout, interest is calculated for completed quarters and then for the balance period, interest is calculated for completed months and further for incomplete month on actual number of days.
  • For cumulative fixed deposits (pay out at end of term), interest is calculated on compounded interest basis quarterly on completion of exact quarters. For the broken period beyond completed quarters, simple interest is calculated on the cumulated deposit amount for remaining number of days.

Is TDS deductible on the interest earned on term deposits?

For Fixed Deposits, TDS is not applicable on the interest earned up to `10,000 under Section 194A. However, TDS will be applicable if the interest received or likely to be received, during the financial year, exceeds `10,000.

Tax Deduction at Source (TDS) will be applicable on interest paid/ accrued on Recurring Deposits. In case the deposit holder does not want the Tax to be deducted at source, they may submit Form 15G / 15H (other than company, firm or co-operative society)/ Exemption Certificate under Section 197 (in case of all holders)/ or any other Tax Exemption Certificate with the Bank. Such form or tax exemption certificate has to be submitted every financial year for each fixed deposit held with the Bank. For further details contact the bank branch.

How do I open a Fixed Deposit?

Existing Customers of the Bank savings account may book a fixed deposit by visiting the nearest Bank branch, logging into www.ujjivansfb.in, through Mobile and Net Banking or at Center Meetings (up to `5,000). New Customers may also place a request by visiting the nearest Bank branch.

Do Senior Citizens get any extra benefit on the Fixed Deposits?

Yes, Senior Citizens gain an additional 0.50% rate of interest.

Can I redeem my fixed deposit before the original term?

Yes, fixed deposit can be closed before the original term of the fixed deposit by submitting fixed deposit receipt at the bank branch. Interest calculation will be as per the terms and conditions. For further details contact the bank branch.

How do I close the deposit before maturity?

Fixed deposit can be closed before maturity through the bank branch. Final amount paid will be calculated according to terms and conditions for deposit.

Can I obtain a loan from the Bank on the security of my fixed deposit?

Yes, loan facility is available up to 80% of principal and accrued interest. You can walk into any of our branches for more information.

Is there any auto renewal facility available on fixed deposits?

Yes, you can choose an auto renewal facility at the time of opening the fixed deposit. Auto renewal allows your fixed deposit to get renewed automatically for the same period as the original deposit.

What are the options available for auto renewal?

Auto Renewal has three options to renew your

(i) Principal only

(ii) Interest only and

(iii) Both Principal and Interest.

You can also opt out from auto renewal.

How do I redeem my fixed deposit?

After maturity of your fixed deposit, you can walk into any of the Bank branch across the country and claim your deposit by furnishing your fixed deposit details.

Is there a nomination facility?

Yes, there is a nomination facility on the fixed deposit account

What is reinvestment or cumulative fixed deposit?

A cumulative fixed deposit account will be offered to customers where an amount is kept with the bank and the bank pays interest at the time of maturity. Interest is calculated on compounded interest basis quarterly and it is reinvested. The rate of interest paid for fixed deposit will vary according to tenure and amount. Maturity of these fixed deposits ranges from 6 months to 10 years.

Is Overdraft against fixed deposit facility available?

Yes, you can avail over draft facility against fixed deposit. Please contact the Bank branch for further information.

Recurring Deposit

What is a recurring deposit (RD)?

Recurring deposits (RD) is an account where a customer invests a fixed sum of money every month in his recurring deposit account maintained with the bank. The interest is earned as per the pre-determined rate usually the same as fixed deposit rate. These accounts can be funded by giving standing instructions by which bank withdraws a fixed amount on a fixed date of the month from the Bank savings account of the customer (as per his instructions), and the same is credited to RD account.

What are the features of an Ujjivan Small Finance Bank Recurring Deposit?

Please refer to Recurring Deposit offerings on our website. Click Here

What is the minimum deposit amount required for opening a Recurring Deposit account?

The minimum Instalment to be deposited by the Depositor/s shall be `100 as specified in the AOF, which can be increased in multiples of `100.

What is the range of tenure for which I can open a recurring deposit account?

You can open a recurring deposit for a minimum period of 6 months, and thereafter in multiples of 3 months, maximum up to a period of 10 years.

What are the Interest rates offered by you on recurring deposits?

Click here for details

What is the penal rate of interest in case of premature withdrawal?

Please refer to our penal rate of interest charges. Click here.

Is there an interest pay-out option?

Interest is paid when the recurring deposit account is closed, and on maturity.

Can I change the tenure and installment due date of my recurring deposit?

No, it is not possible to change the tenure and installment due date.

Is TDS applicable on recurring deposits?

For Recurring Deposits, TDS is not applicable on the interest earned up to `10,000 under Section 194A. However, TDS will be applicable if the interest received or likely to be received, during the financial year, exceeds `10,000.

Tax Deduction at Source (TDS) will be applicable on interest paid/ accrued on Recurring Deposits. In case the deposit holder does not want the Tax to be deducted at source, they may submit Form 15G / 15H (other than company, firm or co-operative society)/ Exemption Certificate under Section 197 (in case of all holders)/ or any other Tax Exemption Certificate with the Bank. Such form or tax exemption certificate has to be submitted every financial year for each recurring deposit held with the Bank. For further details contact the bank branch.

How do I open a Recurring Deposit?

Existing Customers of the Bank savings account may open a recurring deposit by visiting the nearest Bank branch, logging into www.ujjivansfb.in, through Mobile and Net Banking or at Center Meetings (up to `5,000). New Customers may also place a request by visiting the nearest Bank branch.

Can partial payments be made on recurring deposits?

Partial payments are not possible.

Do Senior Citizens get any extra benefit on recurring deposits?

Yes, Senior Citizens gain an additional 0.50% rate of interest.

Can I redeem my recurring deposit before the original term?

Yes, Recurring deposit can be redeemed before the original term. Please contact the bank branch for further details.

What if certain recurring deposit installments are not paid?

If six consecutive installments are unpaid, the Bank reserves the right to close the recurring deposit account. The interest rate applicable on such closed accounts will be as per the premature withdrawal policy of the Bank. A penalty would be charged for delayed payment. For further details please contact the Bank branch.

Is nomination facility available for recurring deposits?

Yes, there is a nomination facility on the recurring deposit account.

Can I change the nominee(s) for my recurring deposit?

Yes, you change the nominee(s) of the deposit accounts by making a declaration effect in the appropriate form, which is available with the Bank branch.

Common questions for all Ujjivan Home Loans

How will Ujjivan decide my home loan eligibility?

Ujjivan assess the customer's repayment capacity based on household income and loan requirement.

What is the maximum loan I can get?

15,00,000.

What are the fees and charges applicable?

15 years

Are there any additional charges for Bounce and Late payment?

Yes, `200 for a delay of 7 days and `400 for a delay of more than 7 days, taxes applicable. All terms and conditions are at the sole discretion of Ujjivan Small Finance Bank. The bank reserves the right to change/modify any of the above at any time.

What Property can be considered as collateral for Home?

You can provide your self-occupied residential property as collateral where construction is proposed or the property you are going to buy in case of Home Purchase Loan.

How do I apply for a Home Loan at Ujjivan?

You can contact our home loan team at your nearest Ujjivan branch or give a miss call on 9241434343

What is PDC?

PDC stands for Post dated cheques. PDCs are collected for repayment of EMIs.

What are the documents required to avail Home Loan from Ujjivan?

For Salaried Individuals

  • Proof of Residence - Any one of Ration Card/Telephone Bill/Electricity Bill/Voters Card/Aadhar Card.
  • Proof of Identity - Any one of Voters Card/XXivers License/Aadhar Card/Passport.
  • Latest 6 months Bank Statement/Passbook.
  • Original Property Documents.
  • Salary certificate wherever applicable.

For Self-Employed Individuals

  • Proof of business – Business registration proof, E-bill, Rent agreement etc.
  • Proof of Residence - Any one of Ration Card/Telephone Bill/Electricity Bill/Voters Card/Aadhar Card.
  • Proof of Identity - Any one of Voters Card/XXivers License/Aadhar Card/Passport.
  • Latest 6 months Bank Statement/Passbook.
  • Original Property Documents.

How much time will it take to decide upon an application for Home Loan at Ujjivan?

Applications would be decisioned within 7 working days.

What is interest rate for pre-EMI and EMI?

EMI interest rate is 12.75-17.75% depending on customer profile and requirement.

Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI. The interest rate is same as that of EMI.

*Conditions apply. All Home Loans from Ujjivan Small Finance Bank Credit are at sole discretion of Ujjivan Small Finance Bank.

Can I give standing instructions to repay my Home Loan EMIs directly from my Ujjivan Saving Bank Account?

Yes, you can opt for Automated Repayment and your EMIs will be directly repaid from your Ujjivan Small Finance Bank Savings Account, thus saving you the trouble of procuring, signing and tracking post-dated cheques.

Are my property documents safe with Ujjivan Small Finance Bank?

Ujjivan offers in-house scrutiny of property documents for your complete peace of mind. So be assured that your property documents are in safe hands.

For more details, please contact your nearest Ujjivan branch or give a miss call on 9241434343

IMPS

What is IMPS?

Immediate Payment Service (IMPS) is an instant interbank electronic fund transfer service which can be accessed through Mobile banking or Net Banking. This service is available 24x7, throughout the year including Sundays and any bank holiday. You can send or receive fund via IMPS using their registered mobile number and MMID or Account number and IFSC code.

When does Beneficiary gets payment for IMPS fund transfer?

The funds should be credited into the Beneficiary account immediately.

What is MMID?

Mobile Money Identifier (MMID) is a 7 digit code issued by a participating bank to their Mobile Banking registered customers for availing IMPS service as a Beneficiary. You will have different MMIDs for different accounts and all these could be linked to a single registered mobile number.

How can I transfer fund using IMPS through Ujjivan Mobile App?

To send money using IMPS -MMID and Mobile Number through Ujjivan Mobile App:

  • Login using mPIN
  • Click on “Money Transfer” from the vertical slider menu
  • Select “Other Bank – IMPS”
  • From “Type” filed, select “P2P-Person”
  • In “From Account” field, select the account number from which money will be transferred
  • Enter Beneficiary mobile number
  • Enter Beneficiary MMID
  • Enter the amount to be transferred
  • Mention remarks, if any
  • Click on “Submit”
  • Verify details and click on “Confirm”
  • Enter OTP sent to the mobile number registered with the Bank
  • Click on “Transfer”
  • Your Transaction gets completed and your payment confirmation report will be displayed on the screen.

To send money using IMPS -Account number and IFSC through Ujjivan Mobile App:

  • Login using mPIN
  • Click on “Money Transfer” from the vertical slider menu
  • Select “Other Bank – IMPS”
  • From “Type” field, select “P2A-Account”
  • In “From Account” field, select the account number from which money will be transferred
  • In “To Account”, select the Beneficiary
  • Enter amount to be transferred
  • Mention remarks, if any
  • Click on “Submit”
  • Verify details and click on “Confirm”
  • Enter OTP sent to the mobile number registered with the Bank
  • Click on “Transfer
  • Your Transaction gets completed and your payment confirmation report will be displayed on the screen.

How can I transfer fund using IMPS through Ujjivan Net Banking?

To send money using IMPS -MMID and Mobile Number through Ujjivan Net Banking:

  • Login using Customer ID and password
  • Click on “Money Transfer” from the vertical menu
  • Select “Transfer to other Bank”
  • Click on “IMPS” and select “Mobile”
  • In “From Account” field, select the account number from which money will be transferred
  • Enter Beneficiary mobile number
  • Enter Beneficiary MMID
  • Enter the amount to be transferred
  • Mention remarks, if any
  • Click on “Submit”
  • Verify details and click on “Confirm”
  • Enter OTP sent to the mobile number registered with the Bank
  • Click on “Transfer”
  • Your Transaction gets completed and your payment confirmation report will be displayed on the screen.

To send money using IMPS -Account number and IFSC through Ujjivan Net Banking:

  • Login using Customer ID and password
  • Click on “Money Transfer” from the vertical menu
  • Select “Transfer to other Bank”
  • Click on “IMPS” and select “Account”
  • In “From Account” field, select the account number from which money will be transferred
  • In “To Account”, select the Beneficiary
  • Enter amount to be transferred
  • Mention remarks, if any
  • Click on “Submit”
  • Verify details and click on “Confirm”
  • Enter OTP sent to the mobile number registered with the Bank
  • Click on “Transfer”
  • Your Transaction gets completed and your payment confirmation report will be displayed on the screen.

How to add a BeneficiaryIMPS through Ujjivan Mobile App?

Steps to add a Beneficiary:

  • Login using mPIN
  • Click on “Money Transfer” in the vertical slider menu
  • Select “Manage Beneficiary”
  • Click “Add Beneficiary”
  • Click on submit and verify the OTP sent to your registered mobile number
  • Beneficiary will be added and activated.

How to add a Beneficiary IMPS through Ujjivan Net Banking?

Steps to add a Beneficiary:

  • Login using Customer ID and password
  • Click on “Money Transfer” in the vertical menu
  • Select “Manage Beneficiary”
  • Click “Add Beneficiary”
  • Click on submit and verify the OTP sent to your registered mobile number
  • Beneficiary will be added and activated.

What are the restrictions for activation of a Beneficiary added by a user?

Cooling period for adding new Beneficiary for fund transfer is 30 minutes. The new Beneficiary will be activated in 30 minutes.

Post activation of Beneficiary:

  • For first 24 hours restricted transfer limit of Upto 10,000 will apply (mobile and Net Banking)
  • Post 24 hours regular limit will prevail.
  • Maximum of 5 new beneficiaries can be added in a day.
  • There is a combined level limit of `10,00,000 per day per account for fund transfer. (Mobile + Internet + Handheld)

How can I Generate MMID for my account through Ujjivan Mobile App?

  • Login using mPIN
  • Click on “Money Transfer” from the vertical slider menu
  • Click on “Manage MMID”
  • Select “Generate MMID”
  • Select the account number for which MMID is to be generated
  • Click “Generate” to know MMID
  • You will get 7 -digit MMID for the bank account

How can I Generate MMID for my account through Ujjivan Net Banking?

  • Login using Customer ID and password
  • Click on “Money Transfer” from the vertical menu
  • Click on “Manage MMID”
  • Select the account number for which MMID is to be generated
  • Click “Generate” to know MMID
  • You will get 7 -digit MMID for the bank account

How can I View MMID for my account through Ujjivan Mobile App?

  • Login using mPIN
  • Click on “Money Transfer” from the vertical slider menu
  • Click on “Manage MMID”
  • Select “View MMID”
  • Select the account number for which MMID is to be viewed
  • Click “View” to see MMID

How can I View MMID for my account through Ujjivan Net Banking?

  • Login using Customer ID and password
  • Click on “Money Transfer” from the vertical menu
  • Click on “Manage MMID”
  • Select the account number for which MMID is to be viewed
  • Click “View” to see MMID

What is the limit on the value of transactions using IMPS transaction?

Mobile Banking

Interbank Fund Transfer For Registered Beneficiary
(Ujjivan bank a/c to Other Bank a/c)
Fund transfer Mode Per Transaction Limit (`) Per Day Limit (`)

IMPS P2A

(Account no + IFSC)

50,000 1,00,000

IMPS P2P

(Mobile number + MMID )

10,000 10,000

Net Banking

Interbank Fund Transfer For Registered Beneficiary
(Ujjivan bank a/c to Other Bank a/c)
Fund transfer Mode Per Transaction Limit (`) Per Day Limit (`)

IMPS P2A

(Account no + IFSC)

50,000 1,00,000

IMPS P2P

(Mobile number + MMID )

10,000 50,000

What are the timings for initiating and receiving IMPS remittances?

IMPS transactions can be sent and received at any time and any day. There are no timing or holiday restrictions on IMPS remittances.

What are the charges for the customer for sending and receiving remittances using IMPS?

Inward Transaction: NIL

Outward Transaction: For transactions upto `1,00,000 the charges are `5 + GST.

Amounts above `1,00,000 and upto `2,00,000 - `15 + GST.

Will I receive any intimation from the bank for the IMPS transaction?

On successful completion of the transaction, alerts will be sent on your preferred mobile number registered with the bank.

What happens if a customer transfers funds using IMPS to a Bank account belonging to a Bank that is not enabled for IMPS Funds Transfer?

Transactions to non-IMPS enabled Banks will be rejected and the funds will not be debited from the customer's account.

When will I get my money back if the transaction is not processed?

For any reason, if the IMPS transaction is not processed for any reason - technical or business, the money would be credited back to the sender's account instantly. In case the fate of the transaction is not determined immediately, the reversal of funds will happen within next 5 working days.

Whom do I contact, in case of non-credit or delay in credit to the Beneficiary account?

You can contact our bank/branch or the destination bank/branch or the Customer Facilitation Service Centre of the banks.

Ujjivan Small Finance Bank

Grape Garden,

No.27, 3rd ‘A’ Cross, 18th main,

6th Block, Koramangala

Bengaluru 560095

Phone - +91 80 4071212

NEFT

What is NEFT?

National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Thissystem of fund transfer operates on a Deferred Net Settlement basis. Fund transfer transactions are settled in batches. Presently, NEFT operates in hourly batches from 8 am to 7pm on week days and working Saturday (excluding 2nd and 4th Saturdays). Any transaction initiated after a designated settlement time would have to wait till the next designated settlement time.

When does beneficiary gets payment for NEFT fund transfer?

NEFT operates in hourly batches. Currently there are twelve settlements from 8 am to 7 pm on week days and working Saturday (excluding 2nd and 4th Saturdays. Therefore, the beneficiary can expect the credit for the transactions put through between 8 am to 6 pm on weekdays and working Saturday (excluding 2nd and 4th Saturdays) on the same day. For transactions settled in the 6 and 7 pm batches on week days and working Saturday (excluding 2nd and 4th Saturdays) on the same day, the credit will be afforded either on the same day or on the next working day.

How can I transfer fund using NEFT through Ujjivan Mobile App?

Steps to transfer money to bank accounts using NEFT are as follows:

  • Login using mPIN
  • Click on “Money Transfer” from the vertical slider menu
  • Select “Other Bank – NEFT”
  • In “From Account” field, select the account number from which money will be transferred
  • From “Beneficiary” field, select the beneficiary
  • Enter the amount to be transferred
  • Mention remarks, if any
  • Click on “Submit”
  • Verify details and click on “Confirm”
  • Enter OTP sent to the mobile number registered with the Bank
  • Click on “Transfer”
  • Your Transaction gets completed and your payment confirmation report will be displayed on the screen.

How can I transfer fund using NEFT through Ujjivan Net Banking?

Steps to transfer money to bank accounts using NEFT are as follows-

  • Login using Customer ID and password
  • Click on “Money Transfer” from the vertical menu
  • Select “Transfer to Other Bank”
  • Click on “NEFT”
  • In “From Account” field, select the account number from which money will be transferred
  • From “Beneficiary” field, select the beneficiary
  • Enter the amount to be transferred
  • Mention remarks, if any
  • Click on “Submit”
  • Verify details and click on “Confirm”
  • Enter OTP sent to the mobile number registered with the Bank
  • Click on “Transfer”
  • Your Transaction gets completed and your payment confirmation report will be displayed on the screen.

How to add a Beneficiary IMPS through Ujjivan Mobile App?

Steps to add a Beneficiary:

  • Login using mPIN
  • Click on “Money Transfer” on the vertical slider menu
  • Select “Manage Beneficiary”
  • Click “Add Beneficiary”
  • Click on submit and verify the OTP sent to your registered mobile number
  • Beneficiary will be added and activated.

How to add a Beneficiary IMPS through Ujjivan Net Banking?

Steps to add a Beneficiary:

  • Login using Customer ID and password
  • Click on “Money Transfer” in the vertical menu
  • Select “Manage Beneficiary”
  • Click “Add Beneficiary”
  • Click on submit and verify the OTP sent to your registered mobile number
  • Beneficiary will be added and activated.

What are the restrictions for activation of a beneficiary added by a user?

Cooling period for adding new beneficiary for fund transfer is 30 minutes. The new beneficiary will be activated in 30 minutes.

Post activation of beneficiary:

  • For first 24 hours restricted transfer limit of Upto 10,000 will apply (mobile and Net Banking)
  • Post 24 hours regular limit will prevail.
  • Maximum of 5 new beneficiaries can be added in a day.
  • There is a combined level limit of `10,00,000 per day per account for fund transfer. (Mobile + Internet + Handheld)

What is the limit on the value of transactions using NEFT transaction?

Net Banking

Interbank Fund Transfer For Registered Beneficiary
(Ujjivan bank a/c to Other Bank a/c)
Fund transfer Mode Per Transaction Limit (`) Per Day Limit (`)

NEFT

50,000

2,00,000

Mobile Banking

Interbank Fund Transfer For Registered Beneficiary
(Ujjivan bank a/c to Other Bank a/c)
Fund transfer Mode Per Transaction Limit (`) Per Day Limit (`)

NEFT

1,00,000

10,00,000

At what time during the day orweek is the NEFT is available?

NEFT transactions are sent to RBI as per the following schedule:

Transaction Type Cut off timing for same day processing
MODES Branch Timing Net Banking Timing

NEFT (per transaction)

Monday to Friday : Branch working hours (9:30am to 4:00 pm)

Monday to Friday:6:00pm

Saturday (excluding 2nd and 4th ) : Branch working hours (9:30am to 4:00 pm)

Saturday (excluding 2nd and 4th): 6:00pm

Please note that all the above timings are based on Indian Standard Time (IST) only Credit sent after the Cut off time will be settled in the next NEFT working day.

What are the charges for the customer for sending and receiving remittances using NEFT?

Inward Transaction: NIL

Outward Transaction:

Amounts upto `10,000 : `2.50 + GST .

Amounts above `10,000 and upto `1,00,000 - `5 + GST .

Amounts above `1,00,000 and upto `2,00,000 - `15 + GST .

Amounts above `2,00,000 - `25 + GST .

Will I receive any intimation from the bank for the NEFT transaction?

On successful completion of the transaction, alerts will be sent on your preferred mobile number registered with the bank.

What happens if a customer transfers funds using NEFT to a Bank account belonging to a Bank that is not enabled for NEFT Fund Transfer?

Transactions to non-NEFT enabled Banks will be rejected and the funds will not be debited from the customer's account

What is the mandatory information required to make NEFT fund transfer?

The remitting customer has to furnish the following information to a bank for effecting a NEFT:

  • Amount to be remitted
  • Remitting customer’s account number which is to be debited
  • Name and IFSCode of the beneficiary bank
  • Name of the beneficiary customer
  • Account number of the beneficiary customer
  • Sender to receiver information, if any
  • Mobile number / email id (for NEFT to receive credit confirmation)

How to find IFSC code of the beneficiary branch?

Indian Financial System Code (IFSC) means a unique code of 11 digits of NEFT enabled Branches. The remitting customer can obtain the IFSC of receiving branch from his bank branch. The IFSC code is also available on the RBI website in the following Link:

NEFT:

http://www.rbi.org.in/scripts/neft.aspx

If an NEFT transaction is not credited to a beneficiary account, does the Remitter get back the money?

Yes. If the money cannot be credited for any reason, the beneficiary’s bank has to return the money within next two batches i.e. (B+2)to the remitting bank .Once this amount is received back by the remitting bank, the amount is credited to the Remitter's account by the remitting bank.

Whom do I contact, in case of non-credit or delay in credit to the beneficiary account?

You can contact our bank/branch or the destination bank/branch or the Customer Facilitation Service Centre of the banks.

Ujjivan Small Finance Bank

Grape Garden,

No.27, 3rd ‘A’ Cross, 18th main,

6th Block, Koramangala

Bengaluru 560095

Phone - +91 80 4071212

RTGS

What is RTGS?

RTGS stands for ‘Real Time Gross Settlement’. RTGS is a funds transfer system where transfer of money takes place from one bank to another on a real time basis. Also the settlement of funds transfer instructions occurs individually on an instruction by instruction basis (gross settlement). This is the fastest mode of funds transfer available in India through banking channel.

When does Beneficiary get payment through RTGS fund transfer?

Under normal circumstances the Beneficiary Bank branch receives the funds in real time as soon as funds are transferred by the Remitting Bank. The Beneficiary Bank has to credit the Beneficiary’s account within 30 minutes of receiving the funds transfer message.

How can I transfer fund using RTGS through Ujjivan Net Banking?

Steps to transfer money to bank accounts using RTGS are as follows-

  • Login using Customer ID and password
  • Click on “Money Transfer” from the vertical menu
  • Select “Transfer to Other Bank”
  • Click on “RTGS”
  • In “From Account” field, select the account number from which money will be transferred
  • From “Beneficiary” field, select the Beneficiary
  • Enter the amount to be transferred
  • Mention remarks, if any
  • Click on “Submit”
  • Verify details and click on “Confirm”
  • Enter OTP sent to the mobile number registered with the Bank
  • Click on “Transfer”
  • Your Transaction gets completed and your payment confirmation report will be displayed on the screen.

How to add a BeneficiaryRTGS through Ujjivan Net Banking?

Steps to add a Beneficiary:

  • Login using Customer ID and password
  • Click on “Money Transfer” in the vertical menu
  • Select “Manage Beneficiary”
  • Click “Add Beneficiary”
  • Click on submit and verify the OTP sent to your registered mobile number
  • Beneficiary will be added and activated.

What is the limit on the value of transactions using RTGS transaction?

Interbank Fund Transfer For Registered Beneficiary
(Ujjivan bank a/c to Other Bank a/c)
Fund transfer Mode Per Transaction Limit (`) Per Day Limit (`)

RTGS

Minimum : 2,00,000

Maximum : 10,00,000

Minimum : 2,00,000

Maximum : 10,00,000

At what time during the day or week is the RTGS is available?

RTGS transactions are sent to RBI as per the following schedule:

Transaction Type Cut off timing for same day processing
MODES Branch Timing Net Banking Timing

RTGS (per transaction)

Monday to Friday : Branch working hours (9:30am to 3:30 pm)

Monday to Friday:3:30pm

Saturday (excluding 2nd and 4th ) : Branch working hours (9:30am to 3:30 pm)

Saturday (excluding 2nd and 4th): 3:30pm

Please note that all the above timings are based on Indian Standard Time (IST) only Credit sent after the Cut off time will be settled in the next RTGS working day.

What are the service charges applicable for RTGS?

Transaction Charges

Inward Transaction: NIL

Outward Transaction:

Amount above `2,00,000 upto `5,00,000 - `25 + GST

Amounts above `5,00,000 upto `10,00,000 - `50 + GST

Will I receive any intimation from the bank for the RTGS transaction?

On successful completion of the transaction, alerts will be sent on your preferred mobile number registered with the bank.

What happens if a customer transfers funds using RTGS to a Bank account belonging to a Bank that is not enabled for RTGS Fund Transfer?

Transactions to non-RTGS enabled Banks will be rejected and the funds will not be debited from the customer's account

What is the mandatory information required to make RTGS fund transfer?

The Remitting customer has to furnish the following information to a bank for effecting a RTGS fund transfer:

  • Amount to be remitted
  • Remitting customer’s account number which is to be debited
  • Name and IFS Code of the Beneficiary bank
  • Name of the Beneficiary customer
  • Account number of the Beneficiary customer
  • Sender to receiver information, if any
  • Mobile number / email id (for RTGS to receive credit confirmation)

How to find IFS code of the Beneficiary branch?

Indian Financial System Code (IFSC) means a unique code of 11 digits of RTGS enabled Branches. The Remitting customer can obtain the IFS-Code of receiving branch from his bank branch. The IFSC code is also available on the RBI website in the following Link:

RTGS:

http://www.rbi.org.in/scripts/BS_ViewRTGS.aspx

If an RTGS transaction is not credited to a Beneficiary account, does the Remitter get back the money?

Yes. If the money cannot be credited for any reason, the Beneficiary’s bank has to return the money within two hours.Once this amount is received back by the Remitting bank; the amount is credited to the Remitter's account by the Remitting bank.

Whom do I contact, in case of non-credit or delay in credit to the Beneficiary account?

You can contact our bank/branch or the destination bank/branch or the Customer Facilitation Service Centre of the banks.

Ujjivan Small Finance Bank
Grape Garden,
No.27, 3rd ‘A’ Cross, 18th main,
6th Block, Koramangala
Bengaluru 560095
Phone - +91 80 4071212

MSE

What are the types of loans I can apply for?

Based on the financial needs of your business, you can apply for the following loans:

  • Unsecured Business Loan (`1,50,000 to `3,00,000)
  • Unsecured Business Loan (`3,00,000 to `5,00,000)
  • Secured Enterprise Loan (`10,00,000 to `25,00,000)

However, the final amount of disbursal will be decided by Ujjivan based on the assessment done by its field staff.

What is the business loan amount that I can avail?

You can avail a business loan between `1,50,000 to `25,00,000.

Up to what amount can be disbursed?

You can avail a business loan between `1,50,000 to `25,00,000, in intervals of `10,000, based on your eligibility.

What is the maximum tenure of business loans?

Depending on the loan you have applied for, you can have tenure anywhere between 1 year to 7 years.

How will the loan be disbursed to me?

There are two modes for this: Either NEFT/RTGS or cheque as per your convenience and preference..

Can I pre- close my loan?

You can pre-close your loan. However, there will be a:

  • 5% penalty on the outstanding principle, if the loan is pre-closed within 12 months of loan disbursement.
  • 3% penalty on the outstanding principle, if the loan is pre-closed after 12 months of loan disbursement.

For what requirement can I avail business loan?

Working Capital: Purchase of Stock (Raw Material and Finished goods), Payment to creditors, Financing of Debtors and for keeping cash to meet day to day operating expenses.

Capital Expenditure: Purchase of New or old equipment, investing in purchase or renovation of office/ factory/godown or other business premises.

Debt Consolidation.

Net Banking

I. Introduction and General Information

What is Ujjivan Net Banking?

Ujjivan Net Banking is a secure platform that allows anytime anywhere access to banking services on a computer/laptop.

What are the benefits of Ujjivan Net Banking?

  • A single screen summary of all your accounts with the Bank
  • Online money transfer within few clicks
  • Access to your financial statements and transaction history (e-passbook)
  • Provision to apply for various products offered by the Bank
  • Access to multiple service requests such as cheque services, debit card services etc.
  • Facility to manage your transaction limit

Who can use Ujjivan Net Banking?

Any Ujjivan customer having a savings and/or current account with a valid debit card, a registered mobile number and e-mail with the Bank can use Ujjivan Net Banking.

Which versions of handsets will support Ujjivan Net Banking?

  • Internet explorer 10 or above
  • Google chrome 23 or above
  • Mozilla Firefox 13 or above
  • Apple safari 5 or above
  • Opera 12 or above

How can I register for Ujjivan Net Banking?

You can register for Ujjivan Net Banking:

  • • While opening an account
  • • At Bank branch

How long will the Bank take to activate my Ujjivan Net Banking?

The Bank will activate your Ujjivan Net Banking within 3 working days, provided you meet all requirements set by the Bank.

What is a Customer ID?

A Customer ID is a unique identity given to you by the Bank for using Ujjivan Net Banking.

If I have more than one account with the Bank, will I have different Customer IDs for each account?

No, you will have a single Customer ID for all your accounts with the Bank.

What is OTP?

OTP refers to One Time Password that will be sent to your mobile number registered with the Bank.

How can I set a new password for Ujjivan Net Banking?

Once you have registered for Ujjivan Net Banking, click on “New Registration” in the pre-login screen. Fill the required details (Customer ID, Date of birth and registered mobile number); enter the OTP sent to your mobile number registered with the Bank and set security questions to generate your password.

Will I have to answer security questions every time I use Ujjivan Net Banking?

No, you will not have to answer questions every time you use Ujjivan Net Banking.

How can I change my password?

To change your password, login to Ujjivan Net Banking and click on “Change password” from “Settings” option located in the vertical menu.

What should I do if I forget my Customer ID?

SMS “CUST” to 9243232121 from your mobile number registered with the Bank

What if I forget my password?

If you forget your Password, click on “Forgot Password” in the pre-login screen of Ujjivan Net Banking. Fill in the required details (Customer ID, Date of birth and registered mobile number); enter the OTP sent to your registered mobile number with the Bank and answer the security questions set by you at the time of registration, to reset your password.

How can I discontinue Ujjivan Net Banking?

To discontinue Ujjivan Net Banking, please contact the Bank branch and fill a de-registration form.

Where can I read the terms and conditions of Ujjivan Net Banking?

Please click the following link for terms and conditions related to Ujjivan Net Banking (hyperlink)

II. My Accounts

What is My Accounts?

“My Accounts” displays details of your Savings and/or Current account with the Bank.

How can I check my transaction details using Ujjivan Net Banking?

Click on Savings or Current account and select the account number for transaction details

What is E-passbook?

“E-passbook” in Ujjivan Net Banking shows your transaction history of the selected account.

III. Deposits

Can I open a Fixed Deposit or Recurring Deposit using Ujjivan Net Banking?

Yes, you can open a Fixed Deposit or Recurring Deposit account using Ujjivan Net Banking.

Can I open more than one Fixed Deposit or Recurring Deposit accounts using Ujjivan Net Banking?

Yes, you can open more than one Fixed Deposit or Recurring Deposit accounts using Ujjivan Net Banking.

If I open a Fixed Deposit or Recurring Deposit at the Bank branch, will that be visible in Ujjivan Net Banking?

Yes, all your accounts opened at the Bank branch will be visible in Ujjivan Net Banking.

If I open a Fixed Deposit or Recurring Deposit using Ujjivan Net Banking, will that be visible in Ujjivan Mobile Banking?

Yes, all your accounts opened using Ujjivan Net Banking will be visible in Ujjivan Mobile Banking.

IV. Money Transfer

What are the different money transfer options available in Ujjivan Mobile Banking?

  • Money transfer to My Accounts (linked accounts)
  • Money Transfer to Other Ujjivan Accounts
  • IMPS (Immediate Payment Service)
  • NEFT (National Electronic Fund Transfer)
  • RTGS (Real Time Gross Settlement)

Who is a payee or beneficiary?

A payee or beneficiary is a person to whom you want to transfer money.

What can I do if my transaction fails or the beneficiary does not receive money?

If you transaction fails or the beneficiary does not receive money, please note the transaction ID and contact Ujjivan Phone banking.

Can I transfer money without adding a new payee or beneficiary?

No, adding a new payee or beneficiary is mandatory for transferring moneyusing Ujjivan Mobile Banking.

How do I add a new payee or beneficiary in Ujjivan Mobile Banking?

You can add new payee or beneficiary using the following steps:

  • After logging in, click on “Money Transfer” option in the vertical menu
  • Click on “Manage beneficiary “and choose “Add beneficiary”
  • Select the type of Money Transfer to fill details
  • Enter the OTP sent to the mobile number registered with the Bank

If I add a new payee or beneficiary in Ujjivan Net Banking, will that be available in Ujjivan Mobile Banking as well?

Yes, any new payee or beneficiary added in Ujjivan Net Banking will also be available in Ujjivan Mobile Banking as well.

What is a favourite transaction?

A favourite transaction is a feature you can use to add your most frequent transactions and use it for quick and easy access.

How many favourite transactions can I add?

You can add up to 10 favourite transactions and use it for quick and easy access.

How can I delete/remove a favourite transaction?

To delete a favourite transaction, select “Manage Favorites” from the Settings option menu located in the vertical menu.

V. Services

What are the other services offered in Ujjivan Mobile Banking?

Services offered by Ujjivan Mobile Banking are as follows:

Cheque services

  • Request cheque book
  • Stop payment of cheque
  • Cheque status enquiry

New Account Request

  • Savings Account
  • Current Account
  • Fixed Deposit
  • Recurring Deposit
  • Loan

VI. Cards

What is a debit card hotlist?

A debit card hotlist is a list of debit cards that are permanently disabled by the Bank upon your request. Such cards are reported stolen, canceled and/or compromised in some way.

I have lost my debit card. Can I block my debit card using Ujjivan Net Banking?

Yes, you can hotlist/block your debit card using Ujjivan Net Banking by selecting “Debit card hotlisting”from “Cards” option located in the vertical menu.

How can I request a new debit card from the Bank?

To request a new debit card, click on “Debit Card Request” from the “Cards” option located in the vertical menu

VII. SETTINGS

How can I control my Money Transfer limit in Ujjivan Net Banking ?

To control your Money Transfer limit, Click on ‘Manage Limit’ in the ‘Settings’ option located in the vertical Menu.

Mobile Banking

I. Introduction and General Information

What is Ujjivan Mobile Banking?

Ujjivan Mobile Banking is an application that allows anytime anywhere access to banking services on your mobile phone.

In how many languages is Ujjivan Mobile Banking available?

Ujjivan Mobile Banking is available in English, Hindi, Kannada, Tamil and Bengali.

How do I change language in Ujjivan Mobile Banking?

In the pre-login screen, click on “Language” and select either English or Hindi.

Who can use Ujjivan Mobile Banking?

Any Ujjivan customer having a savings and/or current account with a valid debit card and mobile number registered with the Bank can use Ujjivan Mobile Banking.

Which operating systems will support Ujjivan Mobile Banking?

  • Android phones with version 4.1 and above
  • Apple phones with iOS 7.0 and above
  • Windows phones with windows 8x and above

How can I navigate “back” in an iPhone?

In an iPhone, swipe your screen from “left to right” to navigate to a previous screen.

Are there any charges for using Ujjivan Mobile Banking?

Ujjivan Mobile Banking is free of charge for its customers. You can download and use this application without any charges levied by the Bank. Your telecom service operator and/or internet service provider may levy charges for SMS and/or GPRS and /or internet used. Please contact your operator for details.

How should I register for Ujjivan Mobile Banking?

  • While opening an account
  • At Bank branch
  • At ATM
  • Through Phone banking

How long will the Bank take to activate my Ujjivan Mobile Banking?

The Bank will activate your Ujjivan Mobile Banking within 3 working days, provided you meet all requirements set by the Bank.

What is a Customer ID?

A Customer ID is a unique identity given to you by the Bank for using Ujjivan Mobile Banking.

What is mPIN?

mPIN is your Mobile Pin Identification Number used for logging in to Ujjivan Mobile Banking.

What is OTP?

OTP refers to One Time Password that will be sent to your registered mobile number.

How can I set a new mPIN for Ujjivan Mobile Banking?

To set a new mPIN, your mobile number must be registered with the Bank for Ujjivan Mobile Banking. Once registered, click on “New Registration” in the pre-login screen and fill the required details (Customer ID, Date of birth and registered mobile number); enter the OTP sent to your mobile number registered with the Bank and set security questions to generate your mPIN.

How can I change my mPIN?

To change your mPIN, login to Ujjivan Mobile Banking and click on “Change mPIN” from Settings option located in the vertical slider menu.

What should I do if I forget my mPIN?

If you forget your mPIN, click on “Forgot mPIN” in the pre-login screen of the Ujjivan Mobile Banking. Fill in the required details (Customer ID, Date of birth and registered mobile number); enter the OTP sent to your mobile number registered with the Bank. Answer the security questions set by you during registration and reset your mPIN.

I have lost my mobile phone in which Ujjivan Mobile Banking was installed. What should I do?

If you have lost your phone in which Ujjivan Mobile Banking was installed, please call Ujjivan Phone Banking number 1800-208-2121 or visit the nearest Bank branch immediately.

What is a debit card hotlist?

A debit card hotlist is a list of debit cards that are permanently disabled by the Bank upon your request. Such cards are reported stolen, canceled and/or compromised in some way.

I have lost my debit card. Can I hotlist my debit card using Ujjivan Mobile Banking?

Yes, you can hotlist your debit card using Ujjivan Mobile Banking by selecting “Debit card hotlisting”from “Debit Card” option under “Services” located in the vertical slider menu.

How should I discontinue Ujjivan Mobile Banking?

To discontinue Ujjivan Mobile Banking, please contact the Bank branch to fill a Mobile Banking de-registration form.

Where can I read the terms and conditions of Ujjivan Bank Mobile Banking?

Please click the following link for terms and conditions related to Ujjivan Mobile Banking (hyperlink)

II. My Accounts

What is “My Accounts”?

“My Accounts” is a summary of all your accounts with the Bank.

What accounts are visible in Ujjivan Mobile Banking?

  • Savings Account
  • Current Account
  • Fixed Deposit Account
  • Recurring Deposit Account
  • Loan

How can I check my transaction details using Ujjivan Mobile Banking?

Click on Savings or Current account and select the account number for transaction details

What is E-passbook?

“E-passbook” in Ujjivan Mobile Banking will display your transaction historyof the selected account for the past 6 months.

III. DEPOSITS

Can I open a Fixed Deposit or Recurring Deposit using Ujjivan Mobile Banking?

Yes, you can open a Fixed Deposit or Recurring Deposit account using Ujjivan Mobile Banking.

Can I open more than one Fixed Deposit or Recurring Deposit accounts using Ujjivan Mobile Banking?

Yes, you can open more than one Fixed Deposit or Recurring Deposit accounts using Ujjivan Mobile Banking.

If I open a Fixed Deposit or Recurring Deposit at the Bank branch, will that be visible in Ujjivan Mobile Banking?

Yes, all your accounts opened at the Bank branch will be visible in Ujjivan Mobile Banking.

IV. Money Transfer

What are the different money transfer options available in Ujjivan Mobile Banking?

  • Money transfer to My Accounts (linked accounts)
  • Money Transfer to Other Ujjivan Accounts
  • IMPS (Immediate Payment Service)
  • NEFT (National Electronic Fund Transfer)

Who is a payee or beneficiary?

A payee or beneficiary is a person who receives money.

What can I do if my transaction fails or the beneficiary does not receive money?

If you transaction fails or the beneficiary does not receive money, please note the transaction ID and contact Ujjivan Phone banking.

Can I transfer money without adding anew payee or beneficiary?

No, adding a new payee or beneficiary is mandatory for transferring moneyusing Ujjivan Mobile Banking.

How do I add a new payee or beneficiary in Ujjivan Mobile Banking?

  • After logging in, click on “Money Transfer” option on the home screen or in the vertical slider menu
  • Click on “Manage beneficiary “and choose “Add beneficiary”
  • Select the type of Money Transfer to fill details
  • Enter the OTP sent to your mobile number registered with the Bank

If I add a new payee or beneficiary in Ujjivan Mobile Banking, will that be available in Ujjivan Net Banking as well?

Yes, any new payee or beneficiary added in Ujjivan Mobile Banking will also be available in Ujjivan Net Banking as well.

What is a favourite transaction?

A favourite transaction is a feature you can use to add your most frequent transactions and use it for quick and easy access.

How many favourite transactions can I add?

You can add up to 10 favourite transactions and use it for quick and easy access.

How can I delete/remove a favourite transaction?

To delete a favourite transaction, select “Manage Favorites” from the Settings option menu located in the vertical slider menu.

V. Services

What are the other services offered in Ujjivan Mobile Banking?

Services offered by Ujjivan Mobile Banking are as follows:

Cheque services

  • Request cheque book
  • Stop payment of cheque
  • Cheque status enquiry

Debit card services

  • Request debit card
  • Debit card status
  • Debit card hot-listing

New Account Request

  • Savings Account
  • Current Account
  • Fixed Deposit
  • Recurring Deposit
  • Loan

VI. Settings

How can I control my Money Transfer limit in Ujjivan Mobile Banking?

To control your Money Transfer limit, Click on ‘Manage Limit’ in the ‘Settings’ option located in the vertical slider Menu.

SMS Banking

What is Ujjivan SMS Banking?

Ujjivan SMS Banking is a service that enables customers to make enquiries using SMS codes provided by the Bank.

Are there any charges associated with Ujjivan SMS Banking?

The Bank does not charge its customers for Ujjivan SMS Banking. However, standard SMS charges will be applicable as per your telecom service provider.

Do I have to register my mobile number with the Bank for using Ujjivan SMS Banking?

Yes, your mobile number needs to be registered with the Bank for using Ujjivan SMS Banking.

What are the services offered by Ujjivan SMS Banking? What are the SMS codes for those services?

Ujjivan SMS Banking services and codes that must be sent to 9243232121 are as follows:

Services offered SMS Code if a customer has a single account with the Bank SMS Code if customer has more than one account with the Bank
Balance enquiry BAL BAL <last four digits of account number>
Mini statement MIN MIN <last four digits of account number>
Know customer ID CUST CUST
Fixed deposit enquiry FDE FDE <last four digits of account number>
Recurring deposit enquiry RDE RDE <last four digits of account number>
Cheque book request CBR CBR <last four digits of account number>
Cheque status enquiry CHQ<cheque number> CHQ <cheque number>

Missed Call Banking

What is Ujjivan Missed Call Banking?

Ujjivan Missed Call Banking enables a customer to know his/her balance and mini statement by giving a missed call.

  • For balance enquiry, give a missed call on 9243012121
  • For mini statement, give a missed call on 9243032121

How will I use Ujjivan Missed Call Banking if I have more than one account?

If you have more than one account with the Bank, pleaseuseUjjivan SMS Banking.

Non-Resident Product


General

Who is an NRI?

A ‘Non-resident Indian’ (NRI) is a person resident outside India who is a citizen of India

Who is a PIO?

A ‘Person of Indian Origin (PIO)’ is a person resident outside India who is a citizen of any country other than Bangladesh or Pakistan or such other country as may be specified by the Central Government, satisfying the following conditions:

  • a. Who was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or
  • b. Who belonged to a territory that became part of India after the 15th day of August 1947; or
  • c. Who is a child or a grandchild or a great grandchild of a citizen of India or of a person referred to in clause (a) or (b); or
  • d. Who is a spouse of foreign origin of a citizen of India or spouse of foreign origin of a person referred to in clause (a) or (b) or (c)

Who is an OCI?

A person of Indian Origin who is an ‘Overseas Citizen of India’ cardholder within the meaning of Section 7(A) of the Citizenship Act, 1955. Such an OCI Card holder should also be a person resident outside India

Who issues a PIO/OCI card?

Bureau of Immigration, Ministry of Home affairs, India. This card is valid for life time as long as the person has a valid foreign passport

Countries issuing VISA letter / stamping on passport

Most of the countries issue visa by physical visa sticker in the passport or by way of rubber stamp. In addition to this they will also stamp the entry and exit for the country of visit. Some countries like Hongkong, Macau provides landing slips in addition to the entry and exit stamping.

Who is a seafarer /seaman/mariner?

A sailor, seaman, mariner, or seafarer is a person who navigates waterborne vessels or assists as a crewmember in their operation and maintenance.

May a Seafarer /seaman/mariner open bank account as NRI?

Yes, A seafarer will be entitled to NRI status if s/he has been away from India from the date of embarkation for greater than 182 days, applicable to vessels bearing Indian or foreign flag.

What are the major accounts that can be opened with USFB in India by a non-resident?

  • Non-resident ordinary rupee accounts – Savings and Fixed deposits (NRO)
  • Non-resident external rupee accounts – Savings and Fixed deposits (NRE)

In what currency are these accounts maintained at USFB

NRE and NRO accounts are maintained in Indian rupees

Can I open my account in any currency?

At Ujjivan we may open the account only in INR as we are Authorized Dealer CAT- II

Can a Bangladeshi national open account in India?

As regards individuals of Bangladesh nationality, they can open an NRO account subject to the individuals holding a valid visa and valid residential permit issued by Foreigner Registration Office (FRO) / Foreigner Regional Registration Office (FRRO) concerned.

Can a Pakistani national open account in India?

As regards individuals of Pakistan nationality or entities of Pakistan ownership, prior approval of Reserve Bank of India is required.

Can Bangladeshi entity open account in India?

As regards entities of Bangladesh ownership, opening of accounts requires prior approval of Reserve Bank of India

Can person of Nepal and Bhutan origin residing there, open an account in India?

Yes, that can be a regular resident SB account. This does not require any prior permission from any authority

Can a foreign tourist visiting India open an account?

An NRO (current/savings) account can be opened by a foreign national of non-Indian origin visiting India, with funds remitted from outside India through banking channel or by sale of foreign exchange brought by him/her to India. A certificate from an authorised money exchanger for sale of foreign currency in India can be accepted. No foreign currency can be accepted at Ujjivan counter.

The balance in such NRO account may be paid to the account holder at the time of his departure from India provided the account has been maintained for a period not exceeding six months and the account has not been credited with any local funds, other than interest accrued thereon.

Can a foreign student studying in India open an account?

May open a Non-Resident Ordinary (NRO) bank account on the basis of his/her passport (with appropriate visa & immigration endorsement) which contains the proof of identity and address in the home country along with a photograph and a letter offering admission from the educational institution.

Within a period of 30 days of opening the account, the foreign student should submit to the branch where the account is opened, a valid address proof giving local address, in the form of a rental agreement or a letter from the educational institution as a proof of living in a facility provided by the educational institution.

During the 30-day period pending the verification of address, the account shall be operated with a condition of allowing foreign remittances not exceeding USD 1,000 or equivalent into the account and a cap of rupees fifty thousand or aggregate as withdrawal from the account

On submission of the proof of current address, the account would be treated as a normal NRO account, and will be operated in terms of instructions contained in RBI’s Master Circular on Non-Resident Ordinary Rupee (NRO) Account dt 2016 and updated as on 31.8.2018 issued by Foreign Exchange Department, Central Office and the provisions of Schedule 3 of FEMA Notification 5/2000 RB dated May 3, 2000

Students with Pakistani nationality will need prior approval of Reserve Bank of India for opening the account.

What is NRO account?

Non-Resident Ordinary account is an account maintained in INR and can be opened by any Non-resident Indian who receives legitimate income / dues in India and would like to use the funds in India. Generally, NRO account is opened by customer who does not have any intent to transfer the funds back to the country he is working / living – as he would like to use this income for the legitimate expenses in India itself.

What is the difference between NRE & NRO Savings Account?

Particulars NRE NRO
Repatriation NRE account is freely repatriable (Principal and interest earned) NRO account has restricted repatriability i.e. Permitted remittance allowed from current income of NRO is up to USD 1 million net of applicable taxes in a financial year. Bank may obtain undertaking along with a certificate from a chartered accountant.
Tax NRE account is Tax free (no Income tax and wealth tax in India The interest earned in NRO account and credits are subject to respective income tax bracket and are also subject to applicable wealth and gift tax.
Deposit of earnings in India All income including current income with repatriable character permitted
Permitted credits include inward remittances from outside India, interest accruing on the account, interest on investment, transfer from other NRE/FCNR(B) accounts, maturity proceeds of investments (if such investments were made from this account or through inward remittance).

Freely creditable to the account:

Inward remittances from outside India;
Legitimate dues in India and transfers from other NRO accounts
Rupee gift/loan made by a resident to an NRI/PIO relative within the limits prescribed under LERMS may be credited to the NRI/PIO’s account
Operational ease NRE account can be held jointly in the names of two or more NRIs/PIOs with any permissible mode of operation.
Currently restricted to 2 as per Ujjivan policy).
NRIs/PIOs can hold the account jointly with a resident relative on ‘former or survivor’ basis (relative to be as per the definition in Companies Act, 2013).
The Resident Relative can operate the account as a PoA Holder during the life-time of the NRI/PIO account holder.
NRO account can be held jointly in the names of two or more NRIs//PIOs. The account may be held jointly with resident on ‘former or survivor’ basis.
Primary reason NRI/PIO/OCI may
Want to park overseas earnings remitted to India converted to Indian Rupees; may be because of interest arbitrage, higher value of Forex vis-a-vis INR;
want to maintain savings in Rupee in the form of savings account in view of liquidity;
want to maintain a joint account with another NRI for personal / business reasons;
want Rupee savings to be freely repatriable for any future exigency
NRI/PIO/OCI may
Want to park India based earnings in Rupees in India;
need an account to deposit income earned in India such as rent, dividends etc;
want to open account with resident Indian

How many Holders can be there in NRE/NRO accounts

Ujjivan permits 2 holders in any of the NRE/NRO accounts. Primary or first holder and second/joint holder

Can I add a resident Indian (locally living person) in an NRE/ NRO account?

NRE Account: A non- resident Indian must be the primary holder of the account. A resident relative (as defined in Companies Act, 2013) may be added as a joint holder on ‘former or survivor’ basis.

Holders Operations
Non- Resident Single
Non- Residents Either or Survivor and Anyone or survivor
Non-resident and a Resident Indian relative
  • Former or survivor (with only non-resident operating the account in his tenure)
  • Single by Non-resident with LoA/ PoA for the resident relative during the lifetime of NRI / PIO account holder

NRO Account: Resident Indian can be the second holder of the SB or FD account. However, the primary account holder must be a Non-resident

What are the documents required for opening NRE / NRO accounts?

What are the documents required by an NRI student to open an account with Ujjivan?

What are the documents required by a seafarer/mariner?

  • Self-attested copy of valid passport (First and last four pages of the passport (pages with name, address, date of birth, date and place of issue, expiry date, photograph and signature). Photocopy must include first four pages of passport and the pages indicating last date of arrival in India. The signature should be clearly visible and match the signature on your registration form)
  • Self-attested copy of valid visa (first two pages and last two pages of the passport as well as the page indicating the last date of arrival in India) OR continuous discharge certificate (CDC). Certificate must indicate last date of arrival in India or declaration by the bank employee at the time of the prospect visiting the Branch, confirming that he (the seafarer) is sailing for the first time.
  • In case of employees working on Oil Rigs, instead of a visa, a letter from government authority stating” allowed to enter the country “ or a business Visa along with a valid appointment letter is taken.
  • Seafarer’s declaration from the customer . No separate declaration will be required if the declaration is part of the AOF
Permanent Employee Contract Employee Employees on Oil rigs
Initial Work contract Valid CDC with the last page of the disembarkation stamp An expired contact letter may be accepted if the last disembarkation stamp on the passport from the country where the oil rig is situated is not more than six months old
The latest wage slip/last drawn wage slip not more than 6 months Valid work contract with the last wage slip (not more than 6 months old)
The expired/last contract letter, if the disembarkation stamp on the CDC is not more than 6 months old

What are the documents required by a seafarer/mariner if he works on a contract basis?

Refer table above

Is overseas address mandatory for NRE / NRO accounts?

Yes. Overseas address is mandatory for both NRE and NRO accounts. In both the accounts the primary holder has to be Non-resident Indian only.

Do we need to collect address proofs for overseas and local address separately?

Address proof of overseas address is mandatory. However, if is provided local address in the account opening form and preferred address for communication is local address, then address proof of local address is mandatory.

Does the NRI need to provide proof of status

Yes.
An Indian national is considered as NRI if he/she stays outside India for more than 182 days in any preceding financial year. To prove on record that the customer has stayed more than 182 days abroad, a proof is required to be submitted to open NRI account.

What is our differentiated benefit offering to customer?

  • Unlimited transactions at Ujjivan ATMS and 6 transactions per month in other bank ATMs.
  • Minimum amount for FD is only Rs. 5000/-
  • Free Card for primary holder for first year. Rs. 100/- chargeable from second year onwards.
  • Cheque book containing 25 leaves free per year

What card do we offer to customer?

Rupay classic card and the limits are as below

  • ATM withdrawal limit per day: INR 30,000/-
  • POS limit per day: INR 30,000/-
  • E commerce limit per day: INR 30,000/-

Can I continue to operate my resident account if I open an NRI account?

No. The existing account must be converted to NRO account.

What is the minimum amount with which I can open an NRO/NRE Savings Account?

There is no stipulated minimum initial payment criterion for NR accounts.

Is interest earned on NRO Savings account taxable in India?

Yes, the interest earned is taxable for NRO accounts currently at 30% + surcharge + cess and it is based on slabs as in force from time to time

What is FATCA?

FATCA stands for Foreign Account Tax Compliance Act, which, inter alia, requires foreign financial institutions to report about financial accounts held by U.S. taxpayers or foreign entities in which U.S. taxpayers hold a substantial ownership interest. This is to prevent tax evasion by the US persons through use of off-shore accounts.

To whom is FATCA Applicable

Any customer opening an account with any Bank in India is expected to declare if he is paying tax in US and must submit additional details as per FATCA declaration form for reporting to Indian Revenue Services (IRS) – Govt of India Tax department as well as RBI

What is DTAA?

The DTAA, or Double Taxation Avoidance Agreement is a tax treaty signed between India and another country, so that taxpayers can avoid paying double taxes on their income earned from the country where tax payer working as well as the country where the tax payer is residing

How many countries have DTAA with India

India has signed DTAA with 88 countries. Presently 86 are in force

What is the tax applicable on NRE SB or FD Interest earned?

Every rupee of interest credited to SB account or FD account – tax at source (by bank) is as below

Interest accrued and/or earned on deposits (SB+FD) TAX at Source without considering DTAA
Less than or equal to Rs.50 lakhs 31.2% (tax rate @ 30%+surcharge 0% + cess 4%)
Greater than Rs. 50 lakhs but less than Rs. 1 crore 34.32% (tax rate @ 30%+surcharge 10% + cess 4%)
Greater than or equal to Rs. 1 crore 35.88% (tax rate @ 30%+surcharge 15% + cess 4%)

Can an NRO customer claim tax benefit (exemption from tax deduction by bank)

Yes. They can claim under DTAA.

How can I avail benefit of reduced TDS rates under DTAA?

By providing the Tax residency certificate (TRC) and PAN

  • Tax Residency Certificate and / or Form 10F
  • Self-attested copy of PAN Card
  • Self-declaration cum indemnity format
NRIs can avail benefits under the DTAA by timely submission TRC along with Form-10F & PAN No. The certificate containing above details should be duly verified by the Government of the country or the specified territory of which the NRI claims to be a resident for the purposes of tax

How can I view my tax credit statement for the details of TDS deducted by the bank?

When the NR customer provides PAN, the details of important income sources would be reflected in the form 26AS and the tax deducted, if any.
The tax payer has to register himself / herself with the IT Department and by logging into the official IT website, s/he can view the TDS vide form 26AS

Is PAN card mandatory for availing DTAA benefit?

Yes, it is mandatory

What documents to be collected to claim DTAA by customers?

There are 3 documents to be collected for applying exemption on tax deduction by bank.

  • Tax Residency Certificate (TRC) for the preceding calendar year
  • Form 10F (can be downloaded from Indian IT website / our banks website, filled by customer and submitted)
  • PAN (issued by Indian IT department)

What is the interest paid on NRE / NRO Deposit

NRE / NRO SB: 4% p.a.
NRE / NRO FD : As per rate chart published in the website from time to time.

Is the interest for NRE FD and NRO FD different?

Yes
NRO FD rates are generally similar to the domestic FD rates.
NRE FD rates are generally higher but cannot be more than the domestic FD rates for the similar tenure.
While the NRE/NRO SB interest is payable quarterly.
FD interest is payable as per choice of customers like: Monthly, Quarterly, Half yearly, Annual or on Maturity as the case may be

What are the service charges for my NRE / NRO savings account?

Refer the schedule of charges

What are the charges for the debit card?

Refer the schedule of charges

What are the credits allowed in NRE accounts?

Credits permitted to this account are:

  • a. Inward remittance in foreign currency from outside India,
  • b. Interest accruing on the account,
  • c. Interest on investment, transfer from other NRE/ FCNR(B) accounts, maturity proceeds of investments (if such investments were made from this account or through inward remittance from overseas).
  • d. Current income like rent, dividend, pension, interest etc provided the investments were from repatriable income

What are the credits allowed in NRO accounts?

Cash deposit into NRO accounts is allowed subject to verification of status as current Income. Current income e.g. Rent, dividends, interest etc.,
Inward remittances from outside India, legitimate dues in India and transfers from other NRO accounts
Rupee gift/loan made by a resident to an NRI/PIO relative within the limits prescribed under the LERMS

What are the debits allowed in NRE accounts?

Debits like cash, clearing, transfer for the purpose of local disbursements and remittance to other countries, other NRE/FCNR(B) accounts, investments in India are allowed
Local disbursements, remittance outside India, transfer to other NRI/FCNR(B) accounts and investments in India

What are the debits allowed in NRO accounts?

All debits that are applicable to any resident SB accounts like local transfer, cash, clearing, transfer for the purpose of local use or transfer into any NRO accounts are allowed.
Local payments, transfer to other NRO accounts or remittance of current income abroad
Remittance outside India / NRE accounts is restricted to USD 1 million per financial year.

Can a joint/mandate holder initiate remittance from NRO account?

No. All outward remittances pertain to repatriation and hence may be instructed by the NR holders only and they must be as per modes of operation

Can NR repatriate money from his Property and Investment Income?

The Bank may also allow repatriation of current income like rent, dividend, pension, interest, etc. of NRIs (subject to local taxes) Besides, balances in an NRO account of NRIs / PIOs are repatriable up to USD 1 (one) million per financial year (April – March)

Can NR repatriate money from the Sale Proceeds of his Immovable Property?

In the event of sale of immovable property other than agricultural land/ farm house/ plantation property in India by an NRI or an OCI, the authorised dealer may allow repatriation of the sale proceeds outside India, provided the following conditions are satisfied, namely:

  1. the immovable property was acquired by the seller in accordance with the provisions of the foreign exchange law in force at the time of his acquisition or the provisions of these Regulations;
  2. the amount for acquisition of the immovable property was paid in foreign exchange received through banking channels or out of funds held in Foreign Currency Non-Resident Account or out of funds held in Non-Resident External account;
  3. ) in the case of residential property, the repatriation of sale proceeds is restricted to not more than two such properties.

What is the process to repatriate such proceed

This requires the certificate from a chartered account and a formal scrutiny of documents to satisfy that FEMA provisions have been complied with.

Can I repatriate money from Inheritances?

Yes, it is permitted subject to various taxes viz. wealth tax, inheritance tax and income tax on any income earned or capital gains if this inherited property is sold immediately. Remittance by NRIs/ PIOs of sale proceeds of assets/ the assets acquired by way of inheritance/ legacy is restricted to US$ 1 million. Any remittance in excess of 1 million has to have RBI approval.

What is the process to repatriate such proceed

All the proceeds must be routed through NRO account. After all taxes the funds may be repatriated up to USD 1 million per financial year

What is the limitation for repatriating funds out of NRO account?

1 million USD per financial year

Can the customer open the account online?

Presently customer can open the accounts only through branch channel using paper-based application. We are launching account opening through semi online process shortly.

Monthly Average Balance

You need to maintain a monthly average balance of INR 10,000 at account level or INR 25,000 at Customer ID level. The monthly average means every day balance at the end of the day is added and the total is divided by the number of days in that month.

If I am not able to maintain my monthly average balance, will I be penalised?

If you are unable to maintain this minimum Monthly average balance at Savings account level, service charges may be levied.

What are the charges for non-maintenance of average monthly balance

Refer the schedule of charges

If I want to open my account from outside India, what will be the procedure?

At present we open account after meeting the prospective customer face to face

What are the types of account offered to an NRI

  • NRO Savings account
  • NRE Savings account
  • NRO fixed Deposit account
  • NRE Fixed Deposit account

What are the periods of Term Deposits?

Refer the interest rate chart for the terms and the corresponding rates.

  • NRO – 7 days to 10 years
  • NRE – 1 year to 10 years

Are the Term Deposits taxable in India?

The interest earned on the term deposits is taxable for NRO accounts
The interest earned on term deposits is not taxable for NRE accounts

Can I remit in any currency to open my NRE account?

Yes, you can remit in any currency. We will convert your currency into INR and open the NRE Account. Your NRE account will be maintained in only INR.

Can I have joint account holders for my NRE Account?

NRE accounts can be held jointly in the names of two or more NRIs/PIOs. NRIs/PIOs can hold jointly with a resident relative (as defined in Companies Act) on ‘former or survivor’ basis. The resident relative can operate the account as PoA holder during the life time of the NRI/PIO accountholder.
If the joint account holders are NRIs, mode of operation as chosen by them.
If the joint holder is a resident Indian relative, then only “former or survivor” option is permitted

Can I have joint account holders for my NRO Account?

Yes, you can have joint holders in NRO account. The joint holder may be non-resident or a resident Indian. However, Primary account holder has to be Non resident Indian

Can I have a nominee for my NRE account?

Yes, the nominee may be a non-resident or resident Indian

How can I register a nominee on my account?

The account opening form has the form DA1. The details of the nominee may be filled in DA1 at the time of opening the account for registering a nominee.
If it is for an existing account, then a separate nomination form DA 1 is also available and the same may be obtained from our branch staff and the details of the nominee may be provided for registration

How can I cancel a nominee in my account?

Nomination cancellation form DA 2 may be submitted for cancelling a nominee. If a new nomination is to be made a fresh DA 1 may be submitted.

How can I update a new nominee on my account?

DA 3 may be submitted to change the nomination

How can I declare for “No nominee” on my account?

As a part of DA 1, the options are available to opt for nomination or not. The clause for not opting nominee may be chosen

Can I nominate more than one person for one account?

No, only a single nominee is allowed per account at Ujjivan

Can I register different nominees for different accounts?

Yes, different nominees are allowed for different accounts

If I register a nominee when I open the account, do I have to fill in the nomination every time I make a new deposit?

Yes, since different nominees are allowed for different accounts, the nomination must be filled each time a fresh account is opened.

Can I have Power of Attorney holder in India?

Yes

Can Power of Attorney holder in India on behalf of an NRI open/close NRE/NRO account?

No, POA can only perform specific tasks as listed in the PoA document

How can I register a mandate on my account?

Mandate holder registration format is to be filled and submitted to register a mandate holder for an NR account

Can I request for an ATM Card for my Mandate holder?

Yes

What are the facilities and rights available to the mandate holder?

Mandate holder does not have the rights to perform the following activities.

  • Opening / Closure of fixed deposits
  • Repatriation of funds to anyone other than the account holder Gifting of funds

Can resident Indian as a Power of Attorney holder operate on the NRE accounts?

Yes

Can resident Power of Attorney holders repatriate funds held in the NRE account out of India?

No. Repatriation is permitted for account holder only and not by the mandate holder or LoA or PoA holders

Can Resident Power of Attorney holder credit proceeds of foreign currency notes, bank notes and travellers’ cheques to the NRE accounts?

Foreign currency, Traveller’s cheque and Bank notes are not permitted to be credited by the PoA
PoA, LoA/mandate holders are permitted to deposit cheques which are legitimate dues, into the NR accounts.

Can I get loans against my NRE Term deposits?

Yes

Can I close my NRE Term deposits pre-maturely?

Yes, however if closed before one year, no interest is payable.

What are the permissible debits and credits in my NRE accounts?

Debits Credits
NRE 1. Local disbursements 1. Inward remittance from outside India
2. Remittances outside India 2. Interest accrued in the account
3. Transfer to other NRE accounts 3. Interest on investment
4. Investments in India 4. Transfer from other NRE accounts
5. Maturity proceeds of Investments provided such investments were made from this account or through inward remittance from overseas
6. Current income like rent, dividend, pension, interest provided the investments were made from repatriable funds
NRO 1. Local payments 1. Inward remittances from outside India
2. Transfer to other NRO account 2. Legitimate dues in India (Current income like rent, dividend, pension, interest)
3. Remittance of current income abroad 3. Transfers from other NRO account
4. Rupee gift/ Loan made by a resident to an NRI/PIO relative within the limit of LRS currently 1 million USD

Can proceeds of foreign currency notes/travellers’ cheques be credited to NRE accounts?

Proceeds of personal cheques drawn by the account holder on his foreign currency account and of travellers cheques, bank drafts payable in any permitted currency including instruments expressed in Indian rupees for which reimbursement will be received in foreign currency, deposited by the account holder in person during his temporary visit to India, provided the authorised dealer/bank is satisfied that the account holder is still resident outside India, the travellers' cheques/drafts are standing/endorsed in the name of the account holder and in the case of travellers' cheques, they were issued outside India.


Proceeds of foreign currency/bank notes tendered by account holder during his temporary visit to India, provided (i) the amount was declared on a Currency Declaration Form (CDF), where applicable, and (ii) the notes are tendered to the authorised dealer in person by the account holder himself and the authorised dealer is satisfied that account holder is a person resident outside India.


The proceeds of such Foreign Currency Notes/Travellers Cheques can be credited to his/her NRE account subject to :


They are tendered in person by the account holder.


Travellers’ cheques should have been issued outside India and same to be discharged by the account holder in the presence of Bank officials concerned.


In case, the amount of foreign currency notes tendered exceeds USD 5000 or its equivalent or the total amount tendered i.e. Currency Notes


and Travelers Cheques together are more than USD 10000 or its equivalent, the same should have been declared to the customs on the Currency Declaration Form (CDF) at the time of arrival in India and should be submitted to the Authorised Dealer at the time of tendering Currency Notes/ TCs.

What is the status of NRE account on the return of the account holders to India permanently?

The NR must inform the Bank immediately on his return to enable the Bank to re-designate the status of the NRE account as resident account.

Does the account holder suffer any loss of interest on such re-designation of accounts?

Savings account on re-designation will not lose any interest.
The Fixed deposit shall be allowed to be continued till maturity and the renewal will be as domestic deposit due to change of status.

Can I open a DEMAT account with Ujjivan?

No currently we do not offer the same

What is a process to close NRE/NRO savings Account?

A request letter with the reason for closure must be submitted for closure along with remaining cheque leaves in the cheque book and the ATM card. The closure would be processed by our regional processing unit and the proceeds sent as opted for.

Can an NRI / PIO invest in Immovable Property in India?

Yes
In accordance with the regulations in force purchase (other than agricultural land/ farmhouse/ plantation etc) from Resident/ NRI/ OCI is permissible.

What happens if I don't use my savings account for a very long time?

The account if not used for 24 months, it will be classified as dormant. Usage refers to regular credits and debits induced at the instance of the customer or his representative.

How do I reactivate my 'Inactive/dormant' Account?

By submitting a request for re-activation and on re-activation, perform a withdrawal at the counter or through ATM

How do I change my Contact Number?

By submitting a request for change. If the account is less than 6 months old, the change of contact number/e-mail is required to be submitted along with the latest bill in the name of the customer

How do I Change Address?

By submitting a request for change. If the account is less than 6 months old, the change of address is to be accompanied with proof. In any case, the new address shall be subjected to the same documentary evidence as in the case of original in the first place

How do I change Email ID?

By submitting a request for change

How do I add a Joint Account holder?

By submitting a request. The process for new customer profile and existing customer profile would be different.
New customer profile: Customer profile form and the account opening form with the changed mode of operation
Existing Customer profile: new account opening form with the joint holder details and the mode of operation preferred

How do I update PAN Details?

By submitting a request along with the photocopy of the self-attested PAN card. The original shall be produced for verification.

Can I upload Form 15G / 15H on internet banking?

No , form 15 G/ 15 H is applicable only for resident Indians. Earnings on NRE account are tax free however earnings on NRO accounts account are taxable and tax rebate may be claimed under DTAA by submitting TRC and PAN as applicable.

How can I transfer my Account Branch?

By submitting a request.
However, Ujjivan does not have the concept of home/base branch and non-base branch so the account may be freely used without the need to transfer

How can I apply for the Fixed Deposit ?

By approaching a branch and filling up an FD form

How can I apply for the Recurring Deposit ?

Recurring deposit is not offered for NRs currently

How can I check status of Fixed Deposit Application?

Currently the fixed deposit advice provided indicates the status and details including the maturity date. The same may be viewed through the Internet Banking/Mobile Banking facility if opted by the customer.

How do I register for E-statement facility on my account?

At the time of opening the account, e-statement may be opted for. In case, it is for an existing account, then a request may be submitted for the required change

Where will my Indian salary be credited if I close my resident account?

The Indian salary would be credited to the NRO account as it is a legitimate due in India

Can I transfer funds from my NRO to an NRE account?

Yes, this transfer would be a part of the limit of USD 1 million which may be repatriated in a financial year

Do I need to submit my Permanent Account Number (PAN) to the Bank?

Yes, as a Non- Resident, If you wish to claim rebate under the DTAA, the PAN copy (to be verified by the Bank official with the Original) and the TRC must be provided to the Bank.

How to apply for PAN?

Online application can be made either through the portal of NSDL ( https://tin.tin.nsdl.com/pan/index.html) or portal of UTITSL (https://www.utiitsl.com/UTIITSL_SITE/pan/index.html). www.incometaxindia.gov.in/Pages/tax-services/apply-for-pan.aspx

Can a joint account holder have a separate debit card?

Yes, each of the holder may have a debit card. The second holder must request for a separate card at the branch where the account is maintained. The second holder is eligible for a separate card if the mode of operation in the account is “Either or Survivor” only.

Will I get a debit card with my NRO savings account?

Yes, as a part of the welcome kit, the first holder in the account will get a non- personalised Rupay Classic Debit card which can be used in India only

Where can I use the NRO domestic debit card?

The domestic debit card may be used for any transactions through the ATMs in India, for any purchases in India and purchases through Indian websites.

Are there any transaction limits for the NRO domestic debit card?

Yes, the daily limit for usage of the domestic debit card per customer is Rs 30,000/- . This limit may be used in any of the following channels – ATMs, PoS or E-Commerce

Can I use the NRO domestic debit card for shopping on the Internet?

Yes, only through the Indian websites

Why do I get only a domestic debit card for my NRO account?

Currently we offer only Domestic Debit Card.