Ujjivan Small Finance Bank Zero Balance Savings Account

Last Updated : April 1, 2025, 2:38 p.m.

In today's financial landscape, zero balance savings accounts have become increasingly popular, particularly among individuals looking to access banking services without the burden of maintaining a minimum balance.Ujjivan Small Finance Bank offers several zero-balance savings account options designed to cater to different segments of society. This comprehensive guide explores everything you need to know about Ujjivan Small Finance Bank's zero-balance savings accounts.

Types of Ujjivan Small Finance Bank Zero-Balance Savings Accounts

Ujjivan Small Finance Bank offers the following types of zero balance savings accounts:

1. Basic Savings Bank Deposit Account (BSBDA) : A no-frills account with essential banking features
2. Ujjivan SFB PMJDY Account : Account offered under the Pradhan Mantri Jan Dhan Yojana scheme
3. Ujjivan SFB Small Account : An Account with simplified KYC requirements with transaction limitations
4. Ujjivan SFB Minor Account : Best zero-balance account for minors
5. Ujjivan SFB Corporate Salary Account: For employees so that they get seamless access to their salaries and enjoy hassle-free banking.

Details of Each Type of Savings Bank Account for Ujjivan Small Finance Bank

Basic Savings Bank Deposit Account (BSBDA)

• Zero minimum balance requirement
• Debit card with limited transaction capability
• Four free withdrawals per month (including ATM transactions)
• Mobile and internet banking facilities
• Maximum balance cap of ₹50,000
• A monthly transaction limit of ₹10,000
• Quarterly statement of account provided free of cost
• Ujjivan Small Finance Bank savings account

Ujjivan SFB PMJDY Account

• Zero balance account offered under the government's financial inclusion initiative
• RuPay debit card with inbuilt accident insurance cover of ₹1 lakh
• Overdraft facility up to ₹10,000 after satisfactory operation for 6 months
• Direct Benefit Transfer (DBT) for government subsidies
• Life insurance coverage of ₹30,000
• Mobile banking and SMS alerts services
• No restrictions on number of deposits

Ujjivan SFB Small Account

• Simplified KYC requirements (only self-attested photograph and signature/thumb impression)
• Valid for 12 months, extendable by another 12 months
• Maximum balance limit of ₹50,000
• Total credits in a year not to exceed ₹1,00,000
• Total withdrawal and transfers in a month not to exceed ₹10,000
• Foreign remittances not allowed
• Balance at any point not to exceed ₹50,000

Ujjivan SFB Minor Account

• Account for minors below 18 years (operated by guardian for minors below 10 years)
• Zero balance requirement
• Personalized debit card with daily transaction limits
• Internet and mobile banking facilities
• Account automatically converts to regular savings account on minor turning 18
• Quarterly interest payout
• Special offers on education-related services.

How to Open Ujjivan Small Finance Bank Zero Balance Savings Account Online?

Follow these steps to open an Ujjivan Small Finance Bank zero balance savings account online:

1. Visit the official Ujjivan Small Finance Bank website (www.ujjivansfb.in)
2. Click on the "Open an Account" or "Apply Now" option.
3. Select the type of zero balance savings account you wish to open.
4. Fill in the required personal details (name, date of birth, mobile number, email, etc.).
5. Upload scanned copies of required KYC documents.
6. Complete the video KYC process for verification.
7. Receive account number and welcome kit via courier.
8. Download the Ujjivan Small Finance Bank mobile banking app to start using the account.

How to Open Ujjivan Small Finance Bank Zero Balance Savings Account Offline?

For those who prefer the traditional route, follow these steps to open an account offline:

1. Visit your nearest Ujjivan Small Finance Bank branch.
2. Request for the zero balance savings account opening form.
3. Fill in the application form with accurate personal information.
4. Submit the form along with required KYC documents.
5. Provide photograph at the branch.
6. Complete the biometric verification process.
7. Receive the account welcome kit, including passbook and debit card.
8. Activate your debit card and set your PIN.

Documents Needed for Ujjivan Small Finance Bank Account Opening

Common KYC Documents for All Account Types:

Identity Proof (Any one of the following):

• Aadhaar Card
• PAN Card
• Voter ID Card
• Driving License
• Passport
• NREGA Job Card with photograph

Address Proof (Any one of the following):

• Aadhaar Card
• Passport
• Driving License
• Voter ID Card
• Utility bills (electricity, water, gas) not older than 3 months
• Property tax receipt (not older than 1 year)
• Bank account statement from another bank (not older than 3 months)

Additional Documents for Specific Account Types:

For Basic Savings Bank Deposit Account (BSBDA):

• Recent passport-size photograph (2 copies)
• Mobile number (mandatory)
• Email ID (optional but recommended)

For Ujjivan SFB PMJDY Account:

• Recent passport-size photograph
• Self-declaration if address on Aadhaar is different from current residence
• Mobile number (mandatory)

For Ujjivan SFB Small Account:

• Self-attested photograph
• Signature or thumb impression
• Self-declaration of address

For Ujjivan SFB Minor Account:

• Minor's birth certificate
• Guardian's ID and address proof
• Guardian's PAN card
• Recent passport-size photographs of minor and guardian
• If minor is above 10 years, his/her signature is also required

Approved List of ID & Address Proof for Ujjivan Small Finance Bank Accounts

Identity Proof Documents:

• Aadhaar Card
• PAN Card
• Passport
• Voter's ID Card
• Driving License
• NREGA Job Card with photograph
• Photo ID issued by Central/State Government
• Letter from recognized public authority/public servant verifying identity
• Photo ID cards of reputed employers

Address Proof Documents:

• Aadhaar Card
• Passport
• Voter ID Card
• Driving License
• Utility bill (not older than 3 months)
• Property/Municipal Tax receipt
• Bank account statement
• Letter from recognized public authority
• Rent Agreement (registered)
• Letter from employer (subject to bank's satisfaction)

Maximum Limit for Ujjivan Small Finance Bank Zero Balance Savings Account

• For Ujjivan Bank's Basic Savings Bank Deposit Account (BSBDA), the maximum balance allowed is Rs. 50,000 at any time with a deposit limit of Rs. 1 Lakh in a year and a withdrawal limit of Rs. 10,000 in a month.

UPI Transaction Limit of Ujjivan Small Finance Bank Zero Balance Savings Account

• Maximum amount per transaction: ₹50,000
• Minimum amount per transaction: ₹1
• Maximum transaction amount per day: ₹1,00,000
• Maximum number of transactions per day, per account: 10

What is the Withdrawal Limit Per Day of Ujjivan Small Finance Bank Zero Balance Savings Account?

• Basic Accounts: Limits typically start at ₹25,000 per day.

Conclusion

Ujjivan Small Finance Bank's zero balance savings accounts offer accessible banking solutions for various segments of society, particularly those who previously had limited access to banking services. With features like no minimum balance requirements, basic banking services, and simplified documentation processes, these accounts play a significant role in promoting financial inclusion.

Whether you're opening a Basic Savings Bank Deposit Account, a PMJDY account, a Small Account with simplified KYC, or a Minor Account for your child, Ujjivan Small Finance Bank ensures that essential banking services are available to all without the burden of maintaining a minimum balance.

For more information or to open an account, visit your nearest Ujjivan Small Finance Bank branch or the official website at www.ujjivansfb.in.