Hey as Union Bank of India (UBI) (BSE: 532477) is one of the largest government-owned banks of India

Interest rate
Interest shall be applicable at the rate of 4% per annum a daily product basis. Interest shall be credited either twice a year (in February and August) or at the time of account closure.

Eligibility
All resident individuals (for Single Accounts) / 2 or more individuals (in case of Joint Accounts), visually impaired or illiterate persons, Purdah Nasheen ladies and minors.

Clubs, Associations, Societies, Trusts, and Agencies / Institutions which have been specifically permitted by the RBI.

Features
Account holders are issued ATM cum Debit cards without any issuing charge and can earn reward points on their debit card spends.
Account holders can also avail nomination facility on this account.
This account comes with Zero Balance Facility, which means that even students can open a Regular Savings Bank Account.
Along with a debit card, account holders also get 2 free cheque books per year, along with Accidental Insurance Cover on debit card usage, free of charge.
This account also comes with U-Mobile facility which lets you make a balance enquiry, do a mobile recharge, make NEFT transfers and bill payments, all through your mobile phone.

Facility
This savings account offers the facility of anytime, anywhere banking via branches, ATMs, net and phone banking.

Account closure fees
Within 14 days of opening – Nil

After 14 days of opening: Different charges for different categories of applicants.