Business Plus Account
We know that as an Individual or Sole Proprietor, every rupee matters. That’s where Business Plus Account steps in - transforming idle cash into source of a daily returns.
This tailored Account lets you earn interest* on your balances, similar to a Savings Account.
The Virtual Savings Account set up in your name & linked to your Business Plus Account seamlessly transfers excess funds above Rs 1,00,000/- (for Metro/Urban Branches) & Rs 50,000/- (for Semi-Urban/Rural Branches) at the end of the day. This ensures your funds stay accessible while earning competitive interest on surplus balance. Unlike Fixed Deposits, this gives you an edge to earn interest on your balances overnight as well.
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Rewards
1 reward point on every 100 spends on debit card
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15% discount
1 reward point on every 100 spends on debit card
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Free
Cash withdrawal on Utkarsh Bank ATMs
Monthly free cash deposit of 20 times of previous month MAB (max. ₹20 Lakh for Metro/Urban branches & ₹10 Lakh in Semi-Urban/Rural branches). **
Unlimited free cash withdrawal transactions at base branch.
Free online transactions through Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT).
Sweep-in/sweep-out facility.
Earn interest on balance maintained in Virtual Savings Account*.
No TDS deduction on accrued interest in Virtual Savings Account.
Doorstep Banking Services (as per applicability).
Issuance of RuPay Platinum Contactless International Debit Card.
* T&C Apply
**For account opening & subsequent month, free cash deposit: ₹20 Lakh (Metro/Urban) & ₹10 Lakh (Semi-Urban/Rural).
* Applicable rate of interest of Savings Bank Account shall apply on the balance held in the linked Virtual Savings Account.
Apply to Business Plus Account
Loan calculator
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Interest Rate 8.00% |
Interest Earned 3,50,452 |
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Maturity Value 13,50,452 |
Maturity Date 20 Apr 2023 |
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(Indicative interest rates for calculation only. click here for latest rates.) |
FAQs
An Individual and a Sole Proprietorship concern can open a Business Plus Account.
Business Plus Account is linked to a Virtual Savings Account wherein, any account balance held above minimum average balance in Business Plus Account will get transferred to the linked Virtual Savings Account at the end of the day, thereby emphasizing liquidity with higher interest returns on surplus funds and offering maximum returns to customers. Unlike FDs this will give an edge to the client to earn interest overnight.
Minimum initial funding requirement of 1,00,000 for Metro/Urban Branches and 50,000 for Semi-Urban/Rural Branches.
Monthly free cash deposit of 20 times of previous month MAB [max. ₹20 Lakh for Metro/Urban branches & ₹10 Lakh in Semi-Urban/Rural branches]. Free cash deposit upto ₹20 Lakh for Metro/Urban Branches & ₹10 Lakh for Semi-Urban/Rural Branches, for account opening & subsequent month.
Two cheque books containing 50 leaves each per quarter shall be issued.
The surplus amount in Business Plus Account above minimum average balance requirement will be automatically swept into the Virtual Savings Account at the end of day [EOD].
If amount is retained overnight in Virtual Savings Account, it earn interest for that day on the amount parked in the virtual savings account.
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