Union Bank of India Zero Balance Savings Account

Last Updated : March 26, 2025, 5:03 p.m.

Union Bank of India (UBI) is a major public sector bank headquartered in Mumbai, Maharashtra. Established on November 11, 1919, it was nationalized in 1969 and has grown to operate over 8,500 branches and 10,000+ ATMs across India. UBI offers several zero-balance savings account options tailored to different customer needs, such as financial inclusion, student banking, and digital convenience. In this article, we will dig deeper into the details of zero balance accounts provided by Union Bank of India, their benefits and features and other details. Read on.

Types and Features of Union Bank of India Zero Balance Savings Account

Union Digital Savings Account

This is one of the best zero balance savings accounts offered by Union Bank of India.

Free Debit Card :

• Comes with a Classic Debit Card (RuPay or Visa, depending on availability):
  • Daily ATM withdrawal limit: ₹25,000.
  • Daily POS/e-commerce limit: ₹50,000.
• Free issuance and no annual maintenance charges.

Digital Transactions :

• Unlimited free transactions via:
  • UPI (Unified Payments Interface).
  • NEFT (National Electronic Funds Transfer).
  • RTGS (Real-Time Gross Settlement).
• Accessible through the Union Vyom app or UBI’s net banking platform.

Online Account Opening :

• Fully digital process with Video KYC, eliminating the need for branch visits.
• The account is activated within hours of verification.

Additional Benefits :

• Free e-statements and SMS alerts for transactions.
• Access to UBI’s digital platforms for bill payments, recharges, and investments.
• No charges for passbook issuance if requested later at a branch.

Limitations :

• No chequebook facility by default (can be requested at a branch with applicable charges).
• Physical transactions (e.g., cash withdrawals at branches) may incur standard fees beyond free limits.

Savings Bank Account For Pensioners (SBPEN)

Free Debit Card:

• Issued with a Classic Debit Card (typically RuPay or Visa):
  • Daily ATM cash withdrawal limit: ₹25,000.
  • Daily POS/e-commerce limit: ₹50,000.
• No issuance charges; however, annual maintenance charges may apply (subject to bank policy).

Personal Accident Insurance:

• Free coverage of ₹2 lakh for accidental death linked to the debit card.

Free ATM Transactions:

• Five free monthly transactions (financial and non-financial) at Union Bank of India ATMs.
• Three free transactions at metro center ATMs (beyond this, standard charges apply).

Digital Banking:

• Access to UBI’s net banking and the Union Vyom mobile app for transactions, balance checks, and bill payments.
• Free e-statements and SMS alerts for account activity.

Convenient Fund Access:

• Funds can be accessed via debit card, ATMs, branch withdrawals, or online transfers.
• Supports Direct Benefit Transfer (DBT) for pension credits from government or PSU sources.

Additional Benefits:

• No account closure charges if closed within 14 days or after 12 months (charges apply between 15 days and 12 months).
• Option to link with other pension-related schemes like PMJJBY or PMSBY (separate enrollment required).

Savings Bank Account For Students(SBZER)

Free Debit Card :

• Comes with a Classic Debit Card (typically RuPay or Visa):
  • Daily ATM cash withdrawal limit: ₹25,000.
  • Daily POS/e-commerce limit: ₹50,000.
• No issuance or annual maintenance charges.

Personal Accident Insurance :

• Free coverage of ₹2 lakh for accidental death, linked to the debit card (requires periodic usage, e.g., once every 90 days, to remain active).

Free Transactions :

• 10 free cash withdrawals per half-year (April–September and October–March) at UBI branches or ATMs.
• Beyond 10, a charge of ₹25 per transaction applies.
• Unlimited free digital transactions via UPI, NEFT, or RTGS.

Digital Banking :

• Access to UBI’s net banking and the Union Vyom mobile app for balance checks, transfers, and payments.
• Free e-statements and SMS alerts for transactions.

No Account Closure Charges :

• Free closure if done within 14 days or after 12 months; charges apply if closed between 15 days and 12 months.

Additional Perks :

• No processing fees on future education loans (subject to bank approval), providing a long-term benefit for students.

Pradhan Mantri Jan-Dhan Yojana (PMJDY) Savings Account

RuPay Debit Card:

Issued free with the account:

• Accidental Insurance Cover: ₹2 lakh for accounts opened after August 28, 2018 (₹1 lakh for earlier accounts), activated by using the card at least once every 90 days (financial or non-financial transaction).
• Accepted at ATMs, POS terminals, and online platforms across India.

Overdraft Facility:

• Up to ₹10,000 overdraft available after 6 months of satisfactory account operation:
  • Limited to one account per household, preferably for the female member.
  • Minimum overdraft of ₹2,000 is hassle-free; higher amounts (up to ₹10,000) depend on account activity (e.g., 4 times the average balance or 50% of credit summation over 6 months).

Free Transactions:

• Four free withdrawals per month (including ATM transactions).
• Unlimited free deposits.
• Free digital transactions via UPI, NEFT, and RTGS.

Insurance and Pension Schemes:

• Links to:
  • PMJJBY: ₹2 lakh life insurance for ₹436 p.a. (ages 18–50).
  • PMSBY: ₹2 lakh accident insurance for ₹20 p.a.
  • APY: Pension scheme for the unorganized sector.
• Life Cover: ₹30,000 for accounts opened between August 15, 2014, and January 31, 2015, payable on the account holder’s death (subject to eligibility).

Direct Benefit Transfer (DBT):

• Facilitates direct receipt of government subsidies (e.g., LPG, MGNREGA wages) into the account.

Digital Banking:

• Access via the Union Vyom app, UBI net banking, and USSD mobile banking (*99#) for basic phones.
• Check balance using Union Bank of India balance check enquiry.

Eligibility For a Union Bank of India Zero Balance Savings Account

Union Digital Savings Account (UDSA)

• Who Can Open:
  • Resident individuals aged 18 years and above.
  • Single account only; joint accounts not allowed.
• Age: Minimum 18 years (no upper limit).
• Residency: Must be an Indian resident.
• KYC: Must have a mobile number linked to Aadhaar or another ID for e-KYC/Video KYC.
• Other Accounts: No restriction, but designed for digitally-savvy users.

Savings Bank Account for Students (SBZER)

• Who Can Open:
  • Students enrolled in recognized educational institutions (schools, colleges, or universities).
  • Minors aged 10 and above can open independently if they can read/write.
  • Minors below 10 require a parent/guardian to operate the account.
• Age: Typically 10 to 25 years; converts to a regular account post-25.
• Residency: Must be an Indian resident.
• Educational Status: Must provide proof of enrollment (e.g., school/college ID).
• Other Accounts: No restriction, but tailored for students.

Savings Bank Account for Pensioners (SBPEN) / Union Samman

• Who Can Open:
  • Individuals receiving a regular pension (e.g., from government, PSUs, or family pensions).
  • Single or joint accounts allowed, with benefits tied to the primary pensioner.
• Age: No strict limit, but typically aimed at senior citizens (60+); younger pensioners (e.g., ex-servicemen) also qualify.
• Residency: Must be an Indian resident.
• Pension Requirement: Full benefits (e.g., Union Samman perks) require pension to be routed through UBI.
• Other Accounts: No restriction, but designed for pensioners.

Pradhan Mantri Jan-Dhan Yojana (PMJDY) Savings Account

• Who Can Open:
  • Any Indian resident individual.
  • Minors aged 10 and above (with guardian assistance).
  • One account per household eligible for overdraft benefits (preferably female member).
• Age: No upper limit; minors below 10 need a guardian to operate.
• Residency: Must be an Indian resident.
• Other Accounts: Must not hold another PMJDY account elsewhere; existing account holders can convert to PMJDY but cannot duplicate benefits (e.g., overdraft, insurance).

Documents Required for a Union Bank of India Zero Balance Savings Account

1. Basic Savings Bank Deposit Account (BSBDA)

• Identity Proof: Aadhaar Card (preferred) or any OVD (e.g., Voter ID, Passport).
• Address Proof: Aadhaar Card or separate proof (e.g., utility bill) if ID does not include address.
• Photographs: Two passport-sized photos.
• For Minors: Guardian’s KYC documents (e.g., Aadhaar, PAN) and minor’s birth certificate.
• Notes: Simplest documentation; Aadhaar streamlines the process.

2. Union Digital Savings Account (UDSA)

• Identity Proof: Aadhaar Card (mandatory for e-KYC) or PAN Card, Voter ID, Passport, etc.
• Address Proof: Aadhaar Card or utility bill if separate proof is needed.
• Photographs: Two passport-sized photos (digital upload required).
• Mobile Number: Must be linked to Aadhaar or another ID for OTP verification.
• Notes: Online-only account; Aadhaar-based e-KYC or Video KYC is essential.

3. Savings Bank Account for Students (SBZER)

• Identity Proof: Aadhaar Card, school/college ID, birth certificate, or Passport.
• Address Proof: Aadhaar Card or parent’s utility bill (acceptable for minors).
• Student Proof: School/college ID card, bonafide certificate, admission letter, or mark sheet.
• Photographs: Two passport-sized photos.
• For Minors (below 10): Guardian’s KYC documents (Aadhaar, PAN) and minor’s birth certificate.
• Notes: Student-specific proof is mandatory to verify enrollment.

4. Savings Bank Account for Pensioners (SBPEN) / Union Samman

• Identity Proof: Aadhaar Card, Voter ID, Passport, or PAN Card.
• Address Proof: Aadhaar Card or utility bill.
• Pension Proof: Pension Payment Order (PPO), pension certificate, or pensioner ID card.
• Photographs: Two passport-sized photos.
• Notes: Pension documentation is key; full benefits require pension routing via UBI.

5. Pradhan Mantri Jan-Dhan Yojana (PMJDY) Savings Account

• With Aadhaar:
  • Aadhaar Card or Aadhaar Number (serves as both identity and address proof).
  • Self-certification of current address if different from Aadhaar.
• Without Aadhaar:
  • Any one OVD: Voter ID, Passport, Driving License, PAN Card, NREGA Job Card.
  • Separate address proof if OVD lacks address (e.g., utility bill, ration card).
• Photographs: Two passport-sized photos.
• For Minors: Guardian’s KYC documents and minor’s birth certificate or school ID.
• Notes: Aadhaar simplifies PMJDY opening; non-Aadhaar holders need an OVD combo.

How to open a Union Bank of India Zero Balance Savings Account?

Option 1: Online Process

The online process is available for most UBI zero-balance accounts, with UDSA being exclusively online and others offering it as an option.

1. Visit the UBI Website or App:
   • Go to www.unionbankofindia.co.in or download the Union Vyom app (available on Google Play/App Store).
2. Select the Account Type:
   • Navigate to “Digital Banking” > “Open Savings Account.”
   • Choose your desired account:
     • BSBDA: “Basic Savings Bank Deposit Account.”
     • UDSA: “Union Digital Savings Account.”
     • SBZER: “Savings Bank Account for Students.”
     • SBPEN: “Savings Bank Account for Pensioners.”
     • PMJDY: “Pradhan Mantri Jan-Dhan Yojana.”
3. Fill the Application Form:
   • Provide personal details:
     • Full name
     • Date of birth
     • Gender
     • Mobile number (linked to Aadhaar for e-KYC)
     • Email ID
     • Address
     • Nominee details (optional)
   • Additional fields:
     • SBZER: Institution name and student ID details.
     • SBPEN: Pension Payment Order (PPO) number.
     • PMJDY: Indicate if converting an existing account.
4. Upload KYC Documents:
   • Scan and upload (PDF/JPG):
     • Identity Proof: Aadhaar Card, Voter ID, Passport, etc.
     • Address Proof: Aadhaar, utility bill, etc. (if separate).
     • Two passport-sized photographs.
   • Specific requirements:
     • UDSA: Aadhaar mandatory for e-KYC.
     • SBZER: Student ID or bonafide certificate.
     • SBPEN: PPO or pension certificate.
     • PMJDY: Aadhaar (preferred) or OVD combo.
5. Verification:
   • e-KYC (Aadhaar-Based):
     • Enter Aadhaar number and verify with OTP sent to your registered mobile (available for UDSA, PMJDY).
   • Video KYC:
     • Schedule a video call via the Vyom app or website.
     • Show original ID proof (and student/pension proof if applicable) during the call.
   • Confirmation sent via SMS/email with a reference number.
6. Account Activation:
   • Post-verification (usually within hours to 1–2 days):
     • Receive account number and customer ID via SMS/email.
     • Debit card (RuPay for PMJDY, Classic for others) mailed to your address within 7–10 days.
     • Login credentials for net banking/Vyom app provided.

Option 2: Offline Process (At a Branch)

The offline method is available for all zero-balance accounts and is often faster for instant activation.

1. Locate a UBI Branch or Bank Mitra:
   • Use the branch locator on www.unionbankofindia.co.in or call 1800-222-244.
   • For PMJDY, Bank Mitra outlets (Business Correspondents) in rural areas also work.
2. Request the Application Form:
   • Visit the branch and ask for the form for:
     • “Basic Savings Bank Deposit Account (BSBDA).”
     • “Union Digital Savings Account (UDSA)” (though typically online).
     • “Savings Bank Account for Students (SBZER).”
     • “Savings Bank Account for Pensioners (SBPEN).”
     • “PMJDY Savings Account.”
3. Fill Out the Form:
   • Provide details:
     • Full name
     • Address
     • Contact number
     • Date of birth
     • Nominee details (optional)
   • Additional info:
     • SBZER: Institution name and student status.
     • SBPEN: Pension details (e.g., PPO number).
     • PMJDY: Indicate no other PMJDY account exists.
4. Submit KYC Documents:
   • Provide self-attested photocopies and originals (returned after verification):
     • Identity Proof: Aadhaar, Voter ID, Passport, etc.
     • Address Proof: Aadhaar, utility bill, etc.
     • Two passport-sized photos.
   • Specifics:
     • SBZER: Student ID or certificate.
     • SBPEN: PPO or pension proof.
     • PMJDY: Aadhaar (simplest) or OVD combo.
     • Minors: Guardian’s KYC and minor’s birth certificate (SBZER, PMJDY).
5. Verification:
   • Bank staff verify documents on-site; process takes minutes to a day.
   • For PMJDY, Bank Mitras may use Aadhaar e-KYC via biometric devices.

Maximum Limit for Union Bank of India Zero Balance Savings Account

Maximum Balance Limit:

• The maximum balance you can hold in a BSBDS account is ₹50,000.

Annual Credit Limit:

• The total credits (deposits) in the account should not exceed ₹1 lakh per year.

UPI Transaction Limit of Union Bank of India Zero Balance Savings Account

Per Transaction Limit:

• The maximum amount you can transfer in a single UPI transaction is ₹1 lakh.

Daily Limit:

• The total value of UPI transactions you can make in a day is also ₹1 lakh.

What is the Withdrawal Limit Per Day for Union Bank of India Zero Balance Savings Account?

• Daily ATM Withdrawal Limit: You can withdraw a maximum of Rs. 25,000 per day from ATMs.
• Daily ATM POS Limit: You can spend a maximum of Rs. 50,000 per day at POS terminals.
• Total Daily Limit: The combined daily limit for ATM withdrawals and POS transactions is Rs. 75,000.