Union Bank of India – one of the largest public sector banks in India, is providing free insurance and various other benefits to Women. Union Bank of India has launched a special savings account scheme for women – Union Samriddhi. Here’s everything you need to know about this newly launched scheme:
What is ‘Union Samriddhi’?
The ‘Union Samriddhi’ account is a savings account designed to help women easily save and grow their money. Women can easily deposit their money in bank and earn interest. This scheme provides various benefits as follows:
- Free personal accident insurance and air accident insurance.
- Critical Illness Cover: lumpsum payment of benefit on diagnosis of critical illness.
- Concession in service charges.
- Personalized Debit Card with bundled offerings
Union Samriddhi Scheme Benefits
| Scheme | Union Samriddhi |
| Quarterly Average Balance (QAB) | Rs 15,000/- |
| Joint Account | Available (only with women joint holders) |
| Type of Debit card | Rupay Platinum |
| Debit Card charge | NIL issue charges |
| ATM Access at own ATM | Unlimited free |
| ATM Access at other Bank ATM | 3 transactions (financial + non-financial) per month at Metro or 5 transactions (financial + non-financial) per month at other centers are Free |
| ATM Cash Withdrawal Limit | Rs 75,000/- |
| ATM POS Limit | Rs 1,50,000/- |
| Free Cancer Care Insurance Coverage | Sum assured of Rs 5 lakhs on detection of Breast, Ovarian or Cervical cancer (Insurance coverage start date :01-08-2023) |
| Free Personal Accident cover with account | Rs 5 Lakhs (Death) |
| Free Personal Accident Insurance (Death) with debit card* | Rs 2 Lakhs (by Bank), Rs 2 Lakhs (additional by NPCI for RuPay Platinum Card) |
| Free Air Accident Insurance with debit card | Rs 50 Lakhs |
| Locker Rent | 50% concession in 1st year locker rent |
| SMS Charges | Unlimited Free |
| NEFT/ RTGS/ IMPS | Unlimited Free |
| Personalized Cheque Leaves | FREE up to 20 leaves a year. |
| Demand Draft | As per applicable charges |
| Free Internet banking | Available |
| Free Mobile Banking | Available |
| Penalty on Non-Maintenance of QAB | Rs 100 + GST Once the account balance goes below the stipulated balance, the scheme and its benefits shall be withdrawn. |
Eligibility
Who Can Open the Account? Any woman who is 18 years or older can open a ‘Union Samriddhi’ account. Union Samriddhi savings account can be opened with only female joint holders and not with male joint holders.
Account Features and Charges
In order to avail the benefits of this scheme, women just need to open savings account with Union Bank of India. Women can visit Bank branch and open account under scheme ‘Union Samriddhi’ and get all the benefits. Union Bank also provides facility to open accounts online. Following documents are required for online account opening:
- Aadhaar card
- Mobile linked to Aadhaar for OTP
- PAN card
- Recent scanned image of photograph-Size between 20 KB – 50 KB
- Scanned image of address proof-Size between 20 KB – 100 KB
- Scanned image of Identity proof-Size between 20 KB – 100 KB
- Signature scanned-Size between 20 KB – 50 KB
Click here for Union Bank online account opening. It is a very simple and easy process to open account. In case of any query, you can visit Bank branch or contact Union Bank All-India Toll Free number : 1800 208 2244 / 1800 425 1515 /1800 425 3555.
