Union Bank of India Account opening Form for Resident Individual from Download

This document is the official Union Bank of India Account Opening Form for Resident Individuals (standardis… p. 1). It establishes a comprehensive operational profile for domestic applicants opening Savings, Current, or Term Deposit accounts (standardis… p. 3).

The key points are organized below:

• Available Schemes: Applicants can establish a standard Savings Bank Account, Current Account, Fixed/Recurring/Flexi Deposits, or a Basic Savings Bank Deposit Account (BSBDA / BSBDA Small Account) (standardis… p. 3).
• Operational Directives: Accounts can be operated via distinct mandates including Self, Either or Survivor, Former or Survivor, Any one or Survivor, or Jointly (standardis… p. 3).

• Personal Mandates: Captures verified full names, date of birth, gender, marital status, and detailed parental or spousal details (standardis… p. 1).
• Socio-Economic Tracking: Requires declaration of precise occupation types (e.g., Public Sector, Private Sector, Housewife, Student), annual income brackets, approximate net worth, educational history, and any status as a Politically Exposed Person (PEP) (standardis… p. 1).
• Communication Rules: Requires a valid mobile number and email ID, which serves as the primary route for all automated digital notifications and e-statements (standardis… pp. 1, 3).

• Primary KYC Benchmarks: Applicants must submit at least one Officially Valid Document (OVD) like a Passport, Voter ID, Driving Licence, Aadhaar Card, NREGA Job Card, or Population Register Letter (standardis… p. 2).
• Alternative Local Address Verification: If the primary OVD lacks a current address, localized secondary documents such as recent utility bills (under 3 months old) or municipal tax receipts are mandatory (standardis… pp. 2, 5).
• Tax Identification: Submission of a physical PAN card is required (standardis… p. 1). Individuals without a PAN must execute Annexure-1 (Form No. 60) (standardis… pp. 1, 7).

• Card & Transaction Procurement: Applicants can request a customized ATM-cum-Debit Card (RuPay, Visa, or MasterCard) with the option to manually enable international transactional capabilities later (standardis… p. 3).
• Digital Banking Access: Allows immediate opt-in configurations for Internet Banking transaction rights, Mobile Banking, Phone Banking, and physical Cheque Books (standardis… p. 3).
• Deposit Management: Supports customization of maturity instructions (such as principal auto-renewals) and automated Flexi/Auto-Sweep fund links (standardis… p. 3).

• Nomination Security (Form DA-1): Includes a legal framework under the Banking Regulation Act, 1949, to seamlessly delegate account proceeds to a single nominee or an appointed adult guardian if the nominee is a minor (standardis… p. 4).
• Minor & Small Account Provisos: Accounts opened for minors under 10 years require mandatory parental or guardian signatures (standardis… pp. 1, 4). BSBDA “Small Accounts” are bound to a strict initial 12-month operational window pending full OVD reviews (standardis… p. 5).
• Global Tax Assurances: Features Annexure-2 (FATCA Declaration), which must be fully finalized if the individual holds multiple tax residencies or liabilities outside of India (standardis… pp. 1, 9).

If you want, I can help you with the next steps:

• Explain the minimum balance requirements for resident accounts
• List the four types of acceptable utility bills for address proof
• Detail how the Auto-Sweep (Flexi) facility calculates interest

Download PDF Click here

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