Guide to Opening a Savings Account in City Union Bank (CUB)
1. ✅ Types of Savings Accounts Available
CUB offers several savings account variants suited to different needs:
- Basic Savings Bank Deposit Account (BSBDA / Zero Balance) – Zero minimum balance, basic features, interest ~4% p.a.
- General Savings Account – Requires minimum monthly balance, offers cheque book, debit card, net banking, etc.
- Specialized Accounts:
- City Union Bank Excel (age 18–54): extras like insurance cover
- Young India Savings (18–25 yrs)
- Junior India (below 18, guardian‑operated)
- Salary Savings (no minimum balance for salaried individuals)
- PMJDY (zero‑balance, RuPay card, government scheme account)
2. 📄 Eligibility & Required Documents
Eligibility:
- Indian resident individuals (including minors via guardian), HUFs
- Minors aged 10+ can open and operate the account themselves
Documents:
- Identity Proof: Aadhaar, PAN, Passport, Voter ID, Driving Licence, etc.
- Address Proof: Aadhaar, utility bills, passport, etc.
- Additional (for minors): Birth certificate, school ID, or parent/guardian’s documents
- Photos: A couple of recent passport‑size photos
- PAN / Form 60/61 (if no PAN)
3. 📒 How to Open: Online vs Offline
A) Online via Video KYC (CUB EASY)
- Visit CUB’s official website or download the mobile app
- Fill in details; book or attend a video KYC slot
- Present Aadhaar, PAN, and a handwritten paper for video verification
- Once verified, account gets activated
B) Offline at a Branch
- Visit your nearest CUB branch with completed form and KYC documents
- Choose account type and pay required initial deposit
- Bank verifies and activates your account in 1–3 days
4. 💰 Minimum Balance & Fees
Basic/Zero Balance Account (BSBDA):
- No minimum balance required
General Savings Account:
- Metro: ₹1,000 (w/o cheque) / ₹3,000 (w/ cheque)
- Urban: ₹750 / ₹2,500
- Semi‑urban: ₹500 / ₹2,000
- Rural: ₹100 / ₹1,000
- Non-maintenance charges: ₹17–50/month depending on shortfall
5. 📝 Step-by-Step: Online Application
- Go to City Union Bank website or app
- Select “Open Savings Account” and choose account type
- Enter details and receive reference ID
- Attend video KYC session
- Post-verification, account is activated
6. 🎯 Tips & Things to Know
- Prefer BSBDA/Zero-balance to avoid balance requirements
- Minors under 10 need guardian accounts; 10+ can operate accounts
- Full KYC must be completed within 12 months (for BSBDA)
- Interest Rate: Around 4% p.a.
- CUB offers virtual assistant support via phone or email
7. 🍫 Comparison Table
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Remain at home; live in India
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Aadhaar + PAN + photo + paper sheet
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ID, address proof, photos, filled form
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Often optional (zero‑balance variant)
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Usually ₹1,000 (or as specified)
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Same day or within 24–48 hours
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No major fees beyond deposit/balance
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