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COVID-19 Precautionary Steps
Considering COVID-19 we have taken precautionary steps demanded by the situation. Our branches will be open, with required hygiene measures and reduced staff.
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Revision in Savings Account Interest Rates
Revision in Savings Account Interest rates effective April 01, 2022
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Customer Compensation and Protection Policy limiting the liability of customers in unauthorized electronic transactions is available under Bank Policies section for perusal of customers.
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Our Avinashi branch located at The Utkarsh BANK Ltd. Shop No 5/215 Rajan Nagar Opp to weekly Market, K K Pudur post Avinashi Taluk, Tirupur - 641654, will be closed w.e.f April 30, 2022. It is being merged with our Tirupur branch.
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Menu
Notifications
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COVID-19 Precautionary Steps
Considering COVID-19 we have taken precautionary steps demanded by the situation. Our branches will be open, with required hygiene measures and reduced staff.
-
Revision in Savings Account Interest Rates
Revision in Savings Account Interest rates effective April 01, 2022
-
Customer Compensation and Protection Policy limiting the liability of customers in unauthorized electronic transactions is available under Bank Policies section for perusal of customers.
-
Our Avinashi branch located at The Utkarsh BANK Ltd. Shop No 5/215 Rajan Nagar Opp to weekly Market, K K Pudur post Avinashi Taluk, Tirupur - 641654, will be closed w.e.f April 30, 2022. It is being merged with our Tirupur branch.
Digital Savings Accounts: Why Going Online Saves Time and Money
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In Fixed Deposit
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Date 07 Mar,2026
Utkarsh Small Finance Bank offers a Digital Savings Account that enables customers to open and operate a Savings Account through a fully digital onboarding process. This solution is designed for convenience, speed and accessibility, making it ideal for individuals who prefer online banking without the need to visit a branch.
Key Features of Utkarsh Small Finance Bank’s Digital Savings Account
(Based on features published on the Bank’s official website)
- Instant account opening through digital onboarding
- Video KYC facility for completing verification online
- Full Savings Account functionality once KYC is completed
- Access to Mobile Banking and Internet Banking
- Debit Card provided based on the chosen account variant
- Interest earnings as per the Bank’s published Savings Account Interest Rate slabs
- Fully paperless, remote, and convenient account opening process
These features reflect the Bank’s focus on providing a smooth and digital-first banking experience
Why Digital Savings Accounts Save Time and Money
1. Quick, Remote Account Opening
The Digital Savings Account can be opened without visiting a branch. Video KYC enables end-to-end online verification, reducing onboarding time significantly.
2. Lower Operational Effort
Digital banking minimizes physical paperwork and eliminates the need for branch visits. Customers can perform essential transactions-such as transfers, balance checks and payments-through digital channels.
3. Cost Efficiency
Going digital saves indirect costs like travel, waiting times and manual paperwork. Digital statements and notifications also reduce document handling and paper usage.
4. Easy Access to Banking Services
With Mobile Banking and Internet Banking, customers can manage their Savings Account, pay bills, transfer funds and monitor spending conveniently at any time.
5. Secure & Regulated Digital Process
Digital onboarding and Video KYC follow Utkarsh Small Finance Bank’s security standards and regulatory guidelines, ensuring safe account creation and secure transactions.
How to Open the Digital Savings Account
You can open the account online through the bank’s website or mobile app. The process is fully digital and ends with a quick Video KYC that activates your account instantly.
Step-by-Step Guide
1. Visit the Website/App
Go to the website or open the Utkarsh SFB mobile app, then navigate to the Digital Savings Account section.
2. Start the Application
Click “Open Account” (or the equivalent option) and select the digital savings account variant.
3. Enter Your Details
Provide basic information along with your PAN and Aadhaar numbers.
4. Verify Identity (eKYC)
Authenticate your Aadhaar using the OTP sent to your registered mobile number.
5. Fill the Form
Enter personal, contact, and financial details accurately in the online form.
6. Complete Video KYC
Start an instant Video KYC call or schedule it as per convenience.
Requirements:
- Smartphone or laptop with a working camera
- Original PAN card
- White paper and a black or blue pen
- Stable internet connection
During the call:
Show your PAN card, sign on the paper when asked, and answer a few verification questions
7. Account Activation
Once verification is successful, your Digital Savings Account is activated and ready for transactions.
Who Should Choose a Digital Savings Account?
- Individuals who prefer fully online banking
- Customers who have limited time for branch visits
- Users seeking instant account activation
- People comfortable using Mobile Banking and Internet Banking
- Anyone who prefers a paperless, digitally managed Savings Account
FAQs
Q1. Is Video KYC mandatory for the Digital Savings Account?
Yes. Video KYC is required to complete digital verification and activate the account.
Q2. Do I earn interest on the Digital Savings Account?
Digital savings accounts typically offer attractive interest rates. For example, customers with Utkarsh Small Finance Bank can earn up to 7.50% p.a., depending on their balance tier.
Q3. Does the account offer Mobile Banking and Internet Banking?
Yes, all Utkarsh Small Finance Bank accounts that are eligible for digital banking offer both mobile and internet banking services. Customers can use these services to manage accounts, transfer funds, pay bills, and perform other transactions conveniently and securely.
Q4. Do I need to visit a branch during the process?
Generally, no branch visit is required if Video KYC is completed successfully.
Q5. Will I receive a Debit Card?
Yes. A Debit Card is provided based on the specific Savings Account variant chosen.
Conclusion
Utkarsh Small Finance Bank’s Digital Savings Account provides a fast, secure and convenient way to begin banking without physical paperwork or branch visits. With instant onboarding, Video KYC and complete digital access, customers can manage their banking needs quickly and efficiently-from anywhere.
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