What is minimum balance in Union Bank?
There is no required amount to maintain your account however, for Savings+ you need to maintain PHP 25,000 to be qualified for insurance coverage. How will I get my card?
| QAB | Rural | Urban |
|---|---|---|
| With Cheque book | 250 | 1000 |
| Without Cheque book | 100 | 500 |
There is no required amount to maintain your account however, for Savings+ you need to maintain PHP 25,000 to be qualified for insurance coverage. How will I get my card?
To avoid the monthly service charge, maintain a daily minimum balance of $200.00. Account Access: Easy access to your funds through Online and Mobile Banking. ATM access available, or tie this account to your Union Bank Debit Card.
Most traditional banks require you to maintain a minimum account balance to avoid monthly service charges. These typically range from $100 to $2,500, though most are much closer to the lower end.
Ordinary savings accounts demand very little minimum balances and charge very little in terms of fees. 4% per annum on a daily balance paid every quarter in April, July, October and January.
Moreover, if you fail to maintain the required average balance every month, you might be charged a penalty of up to Rs 500. You can use the following tips to save yourself from paying penalties for not adhering to the minimum balance requirements of your savings account.
| Annual Membership Fees | Primary | Supplementary |
|---|---|---|
| UnionBank Visa Classic | Php 1,500 | Php 750 |
| UnionBank Visa Gold | Php 2,500 | Php 1,250 |
| UnionBank Visa Platinum | Php 3,000 | Php 1,500 |
| UnionBank Mastercard Gold | Php 2,500 | Php 1,250 |
| Account tier classification | CARD VARIENT | |
|---|---|---|
| Classic | Signature | |
| Daily withdrawal limit – ATM | 25000/- | 100000/- |
| Daily shopping limit- POS | 50000/- | 300000/- |
| Total daily limit | 75000/- | 400000/- |
You will be notified via email and will be sent a reference code. Key in the code when you log in your UB Online profile to activate your account. Once you see the account on your dashboard, it is now activated and ready for use.
What does 500 minimum daily balance mean?
For example: Tracy has a checking account with a “$500 minimum daily balance.” One day she makes purchases that drop her balance down to $200 but then deposits a $400 paycheck before the end of the day. The bank won't charge her the service fee because her final balance that day is $600.
Monthly Average Balance (MAB), also known as the minimum average balance is nothing but the minimum amount you are required to maintain in your Savings Account every month. The figure is calculated at the end of each month and failure to maintain this minimum average balance will result in penalties.
In banking, a minimum daily balance is the minimum balance that a banking institution requires account holders to have in their accounts each day in order to waive maintenance fees.
Paying the minimum balance on a credit card will keep you from defaulting on your payments and allow you to keep the card open without issue; however, just paying the minimum balance means you are not paying off the entire debt you owe, which means that interest will be charged on the unpaid amount every month and this ...
- State Bank of India.
- Kotak Mahindra Bank.
- IDFC Bank.
- HDFC Bank.
- IndusInd Bank.
- Standard Chartered.
- YES Bank.
- RBL.
| List of Banks | Minimum Balance Required(INR) |
|---|---|
| Bank of Maharashtra Saving Accounts | 1000 |
| Canara Bank Saving Accounts | 500/1000 |
| Central Bank of India Saving Accounts | 50 |
| Corporation Bank Saving Accounts | 0/250/500/2500/15000/100000 |
Balance on Missed Call Service on 09223008586
Customers can get their primary account balance by giving Missed call to 09223008586.
21/- + GST. Non-Financial Transaction- Rs. 8/- + GST No.
Write a letter to the Bank Manager stating your closure and any reason if you want to mention. You'll be asked to withdraw your remaining balance.. if any and to submit your cheque book , debit card / credit card and Passbook. Once your request is processed you'll be notified via SMS to your registered phone number.
It's your money, you can withdraw as much as you want. There is no legal requirement that you keep any minimum amount in an account. Of course, the bank may have a minimum balance requirement to avoid a fee, but that's the bank's rule, not a law.
What happens if my bank account goes below minimum balance?
What happens if you go below minimum balance? If you go below the minimum balance in your account, you will be charged a penalty or a fee for non-maintenance of the minimum balance. The charges for non-maintenance of minimum balance vary from bank to bank.
As the name suggests, this is a minimum amount of money that must be maintained in an account for the customer to avoid penalty, and avail of benefits like better interest rates. This balance is required for banks to cover the cost of operations.
It is a globally accepted card and you can use your Visa Debit card at the point-of-sale and on the internet. It's more than an ATM card with added security.
| SERVICE FEES | Effective June, 2022 |
|---|---|
| Statement copy | $5 |
| Duplicate statements fee | $3 |
| Stop payment | $30 |
| Telephone transfer (non-automated) | $3 |
In the case of a zero balance Savings Account, there is no need to deposit any amount. After making the deposit, the bank executives will provide you with a debit card and relevant documents. You can also apply online debit card .
