Deposits ​

Details/Features as under:-

With a view to cater the need of high net worth individual/non individual and looking into the availability of similar product in the market, a new product titled “UCO CARE PLUS” has been introduced.

The features of the scheme is as under.

• PART - I - FEATURES OF "UCO CARE CURRENT ACCOUNT"
• PART - II - FEATURES OF 'OVERDRAFT FACILITY' IN CURRENT ACCOUNTS

Minimum Balances to open account and Minimum Average Quarterly Balances to be maintained in the account.

A - Minimum Balances with Cheque-Book facility

B - Minimum Balances without Cheque-Book Facility

Eligibility to open account

Minors above the age of 10 years who can read and write will be allowed to open and operate savings bank accounts independently.

Minimum balance

Nil

Cheque Book

2 chq. Books free per year. Minor accounts are not allowed to be overdrawn and these always remain in credit.

ATM Card

Personalised ATM cards with photograph with per day withdrawal and shopping limit of Rs.3000.00 and overall limit of Rs.15000/- in a month.

Net Banking

Per day transaction limit Rs.3000.00 and overall limit of Rs.15000/- in a month.

Rate of interest

3.50% per annum at par with normal SB account.

Charge for closure of account within 12 months

NIL

Stop payment charges

Free

Standing instruction

Free from Savings Bank account to RD/FD account in his/her name.

Immediate credit of outstation cheque

Upto Rs.25000/- per occasion

Transfer of fund

Free from natural guardian / grandparents accounts.

Nomination

The facility of nomination would be available as per applicable guidelines in case of minor account.
Nomination shall be made by a person lawfully entitled to act on behalf of the minor.

Payment to nominee and legal heirs

In the event of the death of the depositor, the deposit would be paid to the nominee/ legal heirs as per the existing rules.

Proof of age

Birth certificate issued by Panchayat / municipality/ corporations/declaration by natural guardian.

Attaining majority

On attaining majority, the erstwhile minor should confirm the balance in his /her account.

Joint account

Joint account cannot be opened.

Special Offer

1. Personalised ATM cards with photograph.
2. Net Banking with transaction facility *.
3. Minimum balance - NIL
4. Cheque Books-2 books free per year.
5. Concession in education loan- No processing charge in future education loan
6. Attractive passbook

* Initally Net Banking facility will be view –only and transaction facility will be given in due course.

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Balance	Rate of Interest (p.a)
Upto Rs 50 lakhs	3.50%
over Rs 50 lakhs	4.00%

MACTSBA (Motor Accident Claim Tribunal SB Account)

A new SB product “MACTSBA” will have the following features:-

S.No.	Features	Particulars / Details
1	Type of Account	Motor Accident Claims Tribunal SB Account (MACTSBA) For crediting the maturity amount of term deposit on monthly basis two type of SB account can be opened: SB 136 To be credited monthly installment amount in linked operative SB account in our bank SB 137 To be credited monthly installment amount for the purpose of transfer to other bank’s SB account as mentioned in the court order.
2	Eligibility	Beneficiaries or victims of Motor Accidents (as per court order).
3	Purpose	To be used for crediting FD maturity amount (monthly).
4	Minimum/Maximum Balance Requirement	Zero Balance
5	Any type of service charges	This account will be free from any type of service charges.
6	KYC	KYC norms will be applicable as per Guidelines.
7	Cheque book / Debit Card / ATM Card/ Welcome Kit/Internet Baking / Mobile Banking facility	By default, these facilities are not available in this product. ATM Card or Cheque Book shall not be issued without the permission of the Court.
8	Operations in the account	Only single operation (strictly) In case of Minor accounts, the operation will be through guardian (as per court order).
9	Withdrawals/Payment	Only through Withdrawal Forms or payment through Bio-Metric authentication.
10	Product change	Not permitted
11	Place of Opening	Preferably the SB account will be opened in the same branch where the Term deposit account exists. In case, as per court order the SB account already exists in other bank, near to the residence of claimant, then confirmation will be obtained from other bank that mandate is mentioned in the account for no cheque book & ATM card facility in the account.
12	Account Transfer	On request of the account holder account transfer can be allowed in same bank and in same scheme code only.
13	Nomination	Nomination will be same as given in Term deposit Account or as per court order.
14	Passbook	Available.
15	Rate of Interest	As applicable to Regular SB accounts

A SAFE DEPOSIT TO INCREASE YOUR WEALTH

​ A long term fixed deposit scheme. Interest is compounded every quarter by way of reinvestment. Thus the scheme generates a large sum of money at the time of maturity. The scheme meets the need for a safe long term investment.

The Key features of the Scheme are : -

• The minimum amount of deposit is Rs.1000/-
• The minimum period of deposit is 6 months.
• The maximum period of deposit is 120 months.
• Interest is compounded under the scheme at quarterly intervals.
• The total amount of interest is paid at maturity.

Title of the scheme

'UCO Monthly Income Scheme'

Period of operation of the Scheme

The scheme would be open for the general public from 16th December 2013 and the scheme has been converted into normal term deposit scheme.

Eligibility to Open Account

Eligible Depositors under the scheme would be same as eligible depositors Fixed Deposit Scheme currently available in the Bank.

KYC (Know your Customers)

KYC Norms for opening account are applicable for these accounts and hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s.

Period of Deposit

5 years

Amount of Deposit

a) Minimum Amount: Rs. 50,000 (thereafter in multiples of Rs.10000/-)

b) Maximum Amount: Upto Rs.100 lac

Rate of Interest

As applicable under the normal term deposit for a period of 5 years

Payment of Interest

Monthly Interest Plan - Simple Interest rate will be paid without any discounting and credited on the first day of the next month of opening 'UCO Monthly Income Scheme'.

Premature Withdrawal

In all cases of premature withdrawals, the interest would be payable at 1 % below the applicable card rate under the normal fixed deposit has remained with the Bank as on the date of deposit and not at the contractual rate.

Loan/Overdraft against the Deposits

Facility for availing loan/overdraft against 'UCO Monthly Income Scheme' would be available as per existing guidelines for availing loan/overdraft against Bank's own Fixed Deposits.

Nomination

The facility of nomination would be available under the scheme.

Payment to Nominee/ Legal Heirs

In the event of the death of the depositor, the deposit would be paid to nominee/legal heirs as per existing rules.

Participating Branches

All branches of the Bank would be authorized to open 'UCO Monthly Income Scheme' accounts under the Scheme.

Application Form

The existing Application Form for fixed Deposits is to be used for accepting deposit under the scheme.

The branches shall invariably take an undertaking from customer stating that "I have read, understood and accept the terms & conditions of 'UCO Monthly Income Scheme'.

Automatic Renewals

In the absence of any specific mandate provided by the depositor at the time of opening of account, the maturity proceeds may be transferred to SB/CA of the depositor /renewed for a certain period at card rate of interest prevailing at the time of maturity.

Tax Implications

Tax would be deductible at source as per the prevailing Income Tax rules.

Transferability

The'UCO Monthly Income Scheme' is not transferable.

However, the deposits are transferable from one branch to another branch in the same name(s) would be permissible without any change and as per the existing Bank's procedure.

Special benefits for senior citizen/ staff/ Ex-staff/ Senior citizen Ex-staff

Deposits from under-mentioned categories of depositors shall be allowed incentive as per the existing norms.

Acceptance of Deposit under the scheme

Deposits under the scheme would be accepted only when accruing as a fresh Fixed Deposit for the Bank.

In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charge for pre mature closure.

However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the scheme.

Applicability of normal Fixed Deposit Rules

Other than the special terms and conditions of the scheme, the deposits under the scheme would be governed as per the normal Fixed Deposit Rules of the Bank.

Product Code under CBS

A separate Product Code under the CBS system for the scheme would be created by Head Office, DIT.

Further, Head Office, DIT would be circulating the "Job Card for 'UCO Monthly Income Scheme' containing the guidelines for the branches for opening the required account in CBS for operationalizing the scheme.

Download mandate form here

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UCO Tax Saver Deposit Scheme 2006 is a Term Deposit Scheme with maturity of not less than 5 years subject to lock in period of 5 years.

Who can open the Account -

1. An individual for himself
2. Hindu undivided family ;
3. Jointly by two adults or jointly by an adult and a minor, and payable to either of the holders or to the survivor :

In the case of deposits in joint names, the benefit under section 80C of the Income Tax Act shall be available only to the first holder of the deposit.

Amount of Deposit -

Minimum Rs.100/- and maximum Rs.1.5 lac in a year (1st April to 31st March).

Period of deposite and payment on maturity -

The period of deposit under the scheme shall be not less than five years.

Rates of interests on Fixed Deposits under the UCO TAX SAVER Scheme, where the deposit has to be essentially kept for a period of 5 years, will be the rate for term deposit for a period of 5 years.

Category of Deposit	Rate of Interest % pa
General	5.00%
Senior Citizen/Staff/ Ex Staff / Ex staff Sr.Citizen	5.50%

Income Tax Benefits -

Deposit under the scheme is eligible for deduction under Section 80C of the Income Tax Act upto a maximum limit of Rs.1.5 lac (subject to the overall ceiling of Rs.1.5 lac alongwith other deductions already available under 80C)

Nomination facility- available

Transfer from one branch to another -permitted. Inter bank transfer not allowed.

Loan against the deposit and Pledging of term deposit receipt - Not allowed

Issue of Duplicate Term Deposit Receipt - Duplicate receipts may be issued in accordance with the guidelines in this regard.

Applicability of Income Tax on Interest Income - Interest on these term deposits shall be liable to tax under the Income Tax Act.

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A FIXED DEPOSIT WHOLLY AT YOUR BENEFIT

​Deposits are accepted under reinvestment plan with the difference that a part of the deposit can be prematurely encashed without affecting the remaining portion that continues to earn interest at the agreed rate. Withdrawal is allowed in multiples of Rs.5000/-. It is indeed a matchless scheme to take care of your emergency needs.

 

MACTDA (Motor Accident Claim Term Deposit Account)

A new Term deposit product “MACTDA”will have the following features:-

S.No.	Features	Particulars / Details
1	Type of Account	Motor Accident Claims Term Deposit Account (MACTDA) A new menu option “TERMDEP” has been customized for opening the term deposit account, as per period of deposit account will be automatically opened in two scheme code given as under: Scheme Code-178 (for TD more than 6 months) Scheme Code -179 (for less than or equal to 6 months)
2	Who can open	Beneficiaries or victims of Motor Accidents (as per court order).
3	Available at	At High Court Delhi Branch (1553) (However in case of requirement, it can be made available in any other branch in India).
4	Purpose	Lump sum amount of compensation as decided by the Court /Tribunal is deposited as term deposit, beneficiary will receive the same in number of Monthly Installments as decided by court, comprising of principal amount as well as interest amount.
5	Mode of Holding	Singly.
6	Period of deposit	Period of deposit will be same as mentioned in the court order; scheme doesn’t have any restriction on minimum & maximum duration.
7	Amount of deposit	Amount as per court order. (No restriction on minimum or maximum amount of deposit.)
8	Rate of Interest	Bank’s bucket-wise rate of interest on term deposit applicable for the period (number of months) as mentioned in court order would be applicable. Simple interest will be given up to 6 months, from 7th month compound interest will be given for all remaining months.
9	Mode of Remittance –Monthly installment	Monthly installment comprising of Principal plus interest (minus applicable TDS if any) will be credited to operative SB account (Scheme code-SB 136) of beneficiary in our bank linked with TD account, opened preferably in the same branch for specific purpose of crediting the monthly installment amount as per court order. In case, other bank’s SB account is mentioned in court order then monthly installment (principal plus interest) will be credited to linked operative SB account (Scheme code SB 137). Amount credited in SB 137 will be later on remitted to the other bank’s SB account through NEFT/RTGS.
10	Transfer of Account	Transfer of term deposit account not allowed as the account is opened in special scheme available in specific branch.
11	Pattern of deposit	Total amount of compensation released by court shall be divided by period (in months). Equal amount of principal will be paid with interest (after TDS deduction as per rule) on monthly installment basis. For example: In case of one beneficiary : Amount-2,40,000/- Period -24 Months Rate of interest -6.75% ( Bank’s interest rate applicable for 24 months) Monthly installment of Rs.10,000/- plus interest (minus TDS) First month –Rs.10000/-(240000/24)+interest Rs.56 (one month interest on Rs.10000)-TDS Second Month –Rs.10000+interest Rs.112 (two month on Rs.10000) –TDS and so on. From 7th month Rs.10000/- plus compound interest of 7 months on Rs.10000/- will be applicable & paid by the system. In case of two or more one beneficiaries : In case of three beneficiaries: 240000/3=80000 Principal Amt. Rs.80000/24=3333.33 Say 3333 (equal monthly installment of principal plus interest minus TDS will be credited to the individual respective beneficiary’s SB account i.e. in case of 3 beneficiaries equal amt. will credited to 3 separate account)
		First	Second	Third
		Rs.3333+intt. Rs.18/-(one month) –TDS Rs.3333 +intt. Rs.36/- (Two months ) –TDS and so on	Rs.3333+intt. Rs.18/-(one month) –TDS Rs.3333 +intt. Rs.36/- (Two months ) –TDS and so on	Rs.3333+intt. Rs.18/-(one month) –TDS Rs.3333 +intt. Rs.36/- (Two months ) –TDS and so on
		From 7th month Rs.3333/- plus compound interest of 7 months on Rs.3333/- will be applicable & paid by the system
12	Premature closure	Premature closure of term deposit is not allowed. In case, there is court order for premature closure of term deposit, it shall be done at branch level by closing each remaining Fixed deposit accounts one by one. Bulk closure of TD cannot be handled in CBS, therefore premature closure can be handled by branch by closing the remaining FDs one by one in system. Premature closure- penalty will not be charged. In case of death of the claimant, payment to be given to the nominee or as mentioned in the court order.
13	Passbook/Printed receipt of FDR	NO PHYSICAL FDR WILL BE PRINTED or ISSUED TO CUSTOMER. ALL FDRs WILL REMAIN IN THE SYSTEM and THE AUTO CLOSURE FLAG IS SET TO ‘YES’, THEREFORE ON MATURITY THE FD WILL BE CLOSED AND MATURITY AMOUNT WOULD BE CREDITED TO THE LINKED SB ACCOUNT OF BENEFICIARY. After opening of the TD account a report/statement will be generated ( as mentioned in Job-Card enclosed) having details of number of FDs opened in the name of beneficiary, i.e. principal amount, maturity amount, interest rate & period of deposit. One copy of report/statement will be handed over to hon’ble court & one copy will be handed over to beneficiary.
14	Loan Facility	No loan or advance shall be allowed.
15	Nomination facility	Nomination is available and will be same as given in the linked SB account or as directed by the court.
16	Tax deduction at source	Provision of TDS and NOTDS can be handled in the system as per prevailing Income –Tax rules. Interest payment is subject to TDS as per Income Tax Rules. The net of monthly instalment after TDS will be credited to the MACT Savings Bank account, on monthly basis. In case, the beneficiary fails to submit PAN Card TDS will be deducted @ 20%.
17	Technology support	Product will be developed by Department of Information and Technology.

The 'UCO Sowbhagya RD Scheme' offers all facilities of a Normal Recurring Deposit along with the flexibility of varying monthly installments for a higher yield on maturity.

Details of the product are illustrated as below:-

Who can open

• A person in his/her own name OR
• Two or more persons, in their joint names, who will be the beneficiaries either jointly or anyone or more among them or the survivor or the survivor of them
• On behalf of a Minor, represented by their Natural Guardians or Guardians appointed by Court.
• In the names of clubs, societies, associations, educational institutions, trusts, firms, partnerships provided they are registered and joint companies.

Age of the Accountholder

• RDUSS may be opened by Resident Indians above 18 years of age.
• In the name of minor singly, provided he/she attained the age of 10 years & can read and write.

Pattern of Deposit

All accounts opened w.e.f 01/03/2016 shall have the following conditions :-

• Minimum deposit in scheme is Rs. 100/- in a month and thereafter, in multiples of Rs. 100/-.
• Monthly deposit amount can be 10 times the initial deposit subject to a maximum of Rs. 1 lac per month.

Period of Deposit -

• RDUSS Deposits would be accepted for a Minimum period of 12 months and Maximum period of 60 months only.
• Deposits Period shall be in blocks of either of 12 months, 24 months, 36 months, 48 months and upto 60 months only.

Rate of Interest

• As applicable for normal term deposits of the same tenor.

Privileges for Senior Citizens /Staff /Ex-staff

• Additional rate of interest (ROI) over and above applicable ROI relevant to Banks Term Deposit.

Loans

• Loans shall be granted subject to a maximum of 90% of the RDUSS amount deposited and the interest charged by the Bank will be 2% above the deposit rates.

Terms & Conditions

• All other terms & conditions applicable for existing Recurring Deposit Scheme of the Bank.

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Eligibility

Resident Individuals only

Type of Account

Current Account only

Interest

The account does not bear any interest.

Currency of the Account

Account may be opened in US Dollars, Great Britain Pound, Euro and Japanese Yen.

Minimum Balance to be maintained

Maximum Amount/Balance in the Account

There will be no upper ceiling on the balances held in the account.

Joint Accounts

Joint RFC (D) account can be opened with a resident eligible to open RFC (D) account.

Nomination Facility

Nomination facility is permitted.

Permitted Credits in the Account

Foreign exchange acquired by the Resident Individual:

1. while on a visit to any place outside India by way of payment for services not arising from any business in or anything done in India; or
2. from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation; or
3. by way of honorarium or gift while on a visit to any place outside India; or
4. represents the unspent amount of foreign exchange acquired by him from an authorised person for travel abroad.
5. foreign exchange earned and/or gifts received from close relatives (as defined in the Companies Act) and repatriated to India through normal banking channels by resident individuals. Foreign exchange earnings could be through export of goods and/or services, royalty, honorarium, etc.

Permitted Debits in the Account

Debits to the account shall be for payment towards current/capital account transactions in accordance with the existing foreign exchange regulations only.

Download Application Form

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Eligibility

Resident Individuals only

Type of Account

Fixed Deposit Account

Currency of the Account

Account may be opened in US Dollars, Great Britain Pound, Euro and Australian Dollar.

Minimum Amount

Interest

Please contact our domestic or overseas branches.

Tenure of Deposits

For the period from one month onwards.

Funds for Opening the Account

Funds can be remitted by Resident Individuals through our ‘A’ & ‘B’ category Indian branches or any other Authorised Dealer in India designated by them for all the remittances under the Scheme in compliance to RBI circular No. A.P. (DIR Series) Circular No. 64 dated February 4, 2004 or as amended from time to time.

Premature withdrawal of deposits

The interest is paid at the rate of half of one percent below the rate for the period for which the deposit has actually remained with the overseas branch, as prevailing on the date of issue/renewal or date of payment, whichever is lower. No interest is paid if the deposit has remained with the overseas branch for less than 30 days.

Loans

No loan is envisaged by RBI under the Scheme.

Local Rules to Apply

All deposits will also be subject to Local Rules in the country of Deposit as prevailing from time to time.

Download Application Form

Mandatory Dsiclosures

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1. Account Opening Form for individual customer profile (For New Customers only)
2. Account Opening Form for Additional Deposit
3. Account Opening Form for Individuals
4. Account Opening Form for Other Than Individuals
5. Account Opening Form for existing Customers

Features of Deceased Claims Settlement Process Related to Deposit Accounts Click Here

A. Current Deposit Account

B. Savings Bank Account
(With cheque book facility)

(Without cheque book facility)

UCO No Frill Savings Bank A/c
Minimum initial deposit Rs.5/- (Rs.250/- with cheque book facility)
(A/c will be in operation even with zero balance)

R/D A/Cs
Minimum instalment Rs.50/-

Fixed Deposit A/c
Minimum deposit Rs.1000/-

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1. Title of the Scheme - UCO Dhan-Varsha Fixed Deposit Scheme
2. Period of operation of the Scheme - The scheme would be applicable from May 10th, 2012.However, the Bank would reserve the right to modify, withdraw or extend the scheme anytime without any prior notice.
3. Eligibility to Open Account - Eligible Depositors under the Scheme would be same as eligible depositors in Fixed Deposit Scheme currently available in the Bank.
4. Period of Deposit - 444 days
5. Amount of Deposit - Minimum Amount: Rs. 5000/- and thereafter in multiples of Rs.1000/-.
   Maximum Amount: Rs. 100 lac (revised w.e.f.16/11/2012).
6. Rate of Interest - 7.80% per annum compounded quarterly (revised w.e.f. 02/11/2015).
   The quarterly compounding would be done for the first four quarters and simple rate of interest would be paid on the compounded amount after the four quarters for the remaining number of days of the above deposit period.
   In addition to the payment of interest along with the principal at the time of maturity, Interest payment (at the option of the customer) is allowed also at quarterly and monthly rests.
   Under Monthly Income Plan and in sync to our existing 'Normal Fixed Deposits' under Monthly rests, the interest on such deposits will be paid monthly at discounted rate/s.
7. Premature Withdrawal - In all cases of premature withdrawals, the interest would be payable at 1% below the applicable rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit or present rate, whichever is lower and not at the contractual rate.
8. Loan/Overdraft against the Deposits - Facility for availing loan/overdraft against UCO Dhan-Laxmi Fixed Deposit Scheme would be available as per existing guidelines for availing loan/overdraft against Bank's own Fixed Deposits.
9. Nomination - The facility of nomination would be available under the Scheme.
10. Payment to Nominee/Legal Heirs - In the event of the death of the depositor, the deposit would be paid to the nominee/legal heirs as per the existing rules.
11. Automatic Renewals - In the absence of any specific mandate provided by the depositor at the time of opening of account, the maturity proceeds may be renewed under the same scheme if it is continuing or at the card rate for the same period under normal term deposit if the scheme is discontinued.
    However, wherever no specific instructions are received from the depositors. Maturity proceeds will be renewed for a period of 1 year under Banks Normal Term Deposit Scheme.
12. Tax Implications - Tax would be deductible at source as per the prevailing Income Tax rules.
13. Transferability - The deposit is not transferable.
14. However, the deposits are transferable from one branch to another branch in the same name(s) would be permissible without any charge and as per the existing Bank's procedure.
15. Special benefits for Senior Citizen/ Staff/ Ex-Staff/ Senior Citizen & Ex-Staff - Deposits from these categories of depositors shall be allowed incentive as per the existing norms. Accordingly, the applicable rates for these special categories would be as under:
16. The overall ceiling in amount for Ex-Staff/Ex-Staff Senior Citizen for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus Rs. 10 lac, as usual.
17. Acceptance of Deposits under the Scheme - Deposits under the Scheme would be accepted only when accruing as a fresh Fixed Deposit for the Bank.
    In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charges for premature closure.
    However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the Scheme.
18. Applicability of normal Fixed Deposit Rules - Other than the special terms and conditions of the scheme, the deposits under 'UCO Dhan-Varsha' would be governed as per the normal Fixed Deposit Rules of the Bank.

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1. Title of the Scheme - UCO DOUBLE Fixed Deposit Scheme
2. Period of operation of the Scheme - Period of operation of the Scheme - The scheme would be applicable from May 1st, 2012. However, the Bank would reserve the right to modify, withdraw or extend the scheme anytime without any prior notice.
3. Eligibility to Open Account - Eligible Depositors under the Scheme would be same as eligible depositors in Fixed Deposit Scheme currently available in the Bank.
4. KYC (Know Your Customers) Norms - KYC Norms for opening account are applicable for these accounts and hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s.
5. Period of Deposit - Deposit invested under UCO Double will double in 112 months for General and 105 months for Senior Citizen wef 02-11-2015.
6. Amount of Deposit
   1. Minimum Amt. : Rs. 5000/- (thereafter in multiples of Rs.1000/-)
   2. Maximum Amt. : Upto Rs. 100 lac
7. Payment of Interest - Payment of Interest :-Interest will be paid only at the time of maturity along with principal with quarterly compounding effect.
   The compounding would be done quarterly and simple rate of interest would be paid on the compounded amount for the remaining number of days of the above deposit period. However, the payment/credit of interest to the account will be subject to TDS as applicable.
8. Premature Withdrawal - In all cases of premature withdrawals, the interest would be payable at 1% below the applicable card rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit and not at the contractual rate.
9. Loan/Overdraft against the Deposits - Facility for availing loan/overdraft against 'UCO DOUBLE' deposit scheme would be available as per existing guidelines for availing loan/overdraft against Bank's own Fixed Deposits.
10. Nomination - The facility of nomination would be available under the scheme.
11. Payment to Nominee/Legal Heirs - In the event of the death of the depositor, the deposit would be paid to the nominee/legal heirs as per the existing rules.
12. Participating Branches - All branches of the Bank are authorized to open the 'UCO DOUBLE' deposit accounts under the Scheme.
13. Automatic Renewals - Automatic renewals In the absence of any specific mandate provided by the depositor at the time of opening of account, the maturity proceeds may be renewed under the same scheme if it is continuing or at the card rate for the same period under normal term deposit if the scheme is discontinued.
14. Tax Implications - Tax would be deductible at source as per the prevailing Income Tax rules.
15. Transferability - The deposit is not transferable.
    However, the deposits are transferable from one branch to another branch in the same name(s) would be permissible without any charge and as per the existing Bank's procedure.
16. Special benefits for Senior Citizen/Staff /Ex-Staff/Senior Citizen & Ex-Staff - Deposits from under-mentioned categories of depositors shall be allowed incentive as per the existing norms. Accordingly, the applicable rates for these special categories would be as under:
17. The overall ceiling in amount for Ex-Staff/Ex-Staff Senior Citizen for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus Rs. 10 lac, as usual.
18. Acceptance of Deposits under the Scheme - Deposits under the Scheme would be accepted only when accruing as a fresh Fixed Deposit for the Bank.
    In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charges for premature closure.
    However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the Scheme.
19. Applicability of normal Fixed Deposit Rules - Other than the special terms and conditions of the scheme, the deposits under 'UCO Double' would be governed as per the normal Fixed Deposit Rules of the Bank.

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1. Title of the Scheme - UCO Dhan-Laxmi Fixed Deposit Scheme
2. Scheme Type - 'Kuber Yojana Fixed Deposit Scheme'.
3. Period of operation of the Scheme - The scheme would be open for the general public from June 10th, 2013 and will remain valid up to March 31st, 2014.
   However, the Bank would reserve the right to modify, withdraw or extend the scheme without any prior notice.
4. Eligibility to Open Account - Eligible Depositors under the Scheme would be same as eligible depositors in Fixed Deposit Scheme currently available in the Bank.
5. KYC (Know Your Customers) Norms - KYC Norms for opening account are applicable for these accounts and hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s.
6. Period of Deposit : 333 days
7. Amount of Deposit
   1. Minimum Amount : Rs. 5000/- (thereafter in multiples of  Rs. 1000/-)
   2. Maximum Amount : Upto  Rs.  500 crs.
8. Rate of Interest - General Public:- 9.10% per annum (quarterly compounded) revised w.e.f. 09/09/2013.
9. Payment of Interest - Interest will be paid only at the time of maturity along with principal with quarterly compounding effect.
   The quarterly compounding would be done for the first three quarters and simple rate of interest would be paid on the compounded amount after the three quarters for the remaining number of days of the above deposit period. However, the payment/credit of interest to the account will be subject to TDS as applicable.
10. Premature Withdrawal - In all cases of premature withdrawals, the interest would be payable at 1% below the applicable card rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit and not at the contractual rate.
11. Loan/Overdraft against the Deposits - Facility for availing loan/overdraft against 'UCO Dhan-Laxmi Fixed Deposit Scheme' would be available as per existing guidelines for availing loan/overdraft against Bank's own Fixed Deposits.
12. Nomination - The facility of nomination would be available under the scheme.
13. Payment to Nominee/ Legal Heirs - In the event of the death of the depositor, the deposit would be paid to the nominee/legal heirs as per the existing rules.
14. Participating Branches - All branches of the Bank would be authorized to open 'UCO Dhan-Laxmi' deposit accounts under the Scheme.
15. Application Form - The existing Application Form for Fixed Deposits is to be used for accepting deposits under the Scheme.
    The branches shall invariably take an undertaking from customers stating that "I have read understood and accept the terms and conditions of the UCO Dhan-Laxmi Fixed Deposit Scheme".
16. Automatic Renewals - No auto renewal is permitted under 'UCO Dhan-Laxmi FD Scheme'.
    However, on specific mandate of the depositor at the time of opening of 'UCO Dhan-Laxmi', the maturity proceeds may be transferred to SB/CA of the depositor /renewed for a certain period at card rate of interest prevailing at the time of maturity (copy enclosed as Annexure II).
17. Tax Implications - Tax would be deductible at source as per the prevailing Income Tax rules.
18. Transferability - The deposit is non-transferable.
    However, the deposits are transferable from one branch to another branch in the same name(s) without any charge and as per the existing Bank’s procedure.
19. Special benefits for Staff /Ex-Staff Members - Deposits from under-mentioned categories of depositors shall be allowed incentive interest rates as per existing norms.  Accordingly, the applicable rates for these special categories under 'UCO  Dhan-Laxmi' would be as:-
20. (*Incentive rate for Senior Citizen category is applicable only for deposits less than Rs. 1 cr.)
    The overall ceiling in amount for Ex-Staff/Ex-Staff members for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus Rs. 10 lac, as usual.
21. Acceptance of Deposits under the Scheme - Deposits under the Scheme would be accepted only when accruing as a fresh Fixed Deposit for the Bank.
    In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charges for premature closure.
    However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the Scheme.
22. Applicability of normal Fixed Deposit Rules - Other than the special terms and conditions of the scheme, the deposits under the scheme would be governed as per the normal Fixed Deposit Rules of the Bank.

Click here to download ANNEXURE - II

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1. Title of the Scheme - "UCO Triple One' Fixed Deposit Scheme
2. Scheme Type - 'Special Fixed Deposit Scheme'.
3. Period of operation of the Scheme - The scheme would be open for the general public from 3 March,2014 and will remain valid up to 31st March, 2014.
   However, the Bank would reserve the right to modify, withdraw or extend the scheme without any prior notice.
4. Eligibility to Open Account - Eligible Depositors under the Scheme would be same as eligible depositors in Fixed Deposit Scheme currently available in the Bank.
5. KYC (Know Your Customers) Norms - KYC Norms for opening account are applicable for these accounts and hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s.
6. Period of Deposit : 111 days
7. Amount of Deposit
   1. Minimum Amount : Rs. 5000/- (thereafter in multiples of Rs. 1000/-)
   2. Maximum Amount :Upto Rs. 500 lac
8. Rate of Interest - General Public:- 9.20% per annum
9. Payment of Interest -Interest will be paid only at the time of maturity along with principal with simple rate of interest effect.
   However, the payment/credit of interest to the account will be subject to TDS as applicable.
10. Premature Withdrawal - In all cases of premature withdrawals, the interest would be payable at 1% below the applicable card rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit and not at the contractual rate.
11. Loan/Overdraft against the Deposits - Facility for availing loan/overdraft against 'UCO TRIPLE ONE' Fixed Deposit Scheme would be available as per existing guidelines for availing loan/overdraft against Bank's own Fixed Deposits.
12. Nomination - The facility of nomination would be available under the scheme.
13. Payment to Nominee/ Legal Heirs - In the event of the death of the depositor, the deposit would be paid to the nominee/legal heirs as per the existing rules.
14. Participating Branches - All branches of the Bank would be authorized to open 'UCO TRIPLE ONE' deposit accounts under the Scheme.
15. Application Form - The existing Application Form for Fixed Deposits is to be used for accepting deposits under the Scheme.
    The branches shall invariably take an undertaking from customers stating that "I have read understood and accept the terms and conditions of the UCO TRIPLE ONE' Fixed Deposit Scheme.
16. Issue of Term Deposit Receipt - The branch under the Scheme shall issue a fixed deposit receipt for the deposit amount received on our usual form for the Fixed Deposit Receipt.
    A Rubber Stamp stating "Issued under UCO TRIPLE ONE' Fixed Deposit Scheme is to be invariably affixed by branches.
17. Automatic Renewals - No auto renewal is permitted under 'UCO TRIPLE ONE' FD Scheme.
    However, on specific mandate of the depositor at the time of opening of 'UCO TRIPLE ONE', the maturity proceeds may be transferred to SB/CA of the depositor / renewed for a certain period at card rate of interest prevailing at the time of maturity (copy enclosed as Annexure I(B).
18. Tax Implications - Tax would be deductible at source as per the prevailing Income Tax rules.
19. Transferability -The deposit is non-transferable.
    However, the deposits are transferable from one branch to another branch in the same name(s) without any charge and as per the existing Bank's procedure.
20. Special benefits for Staff /Ex-Staff Members - No incentive Rate is allowed to Sr. Citizen / Staff / Ex. Staff categories:
21. Acc eptance of Deposits under the Scheme - Deposits under the Scheme would be accepted only when accruing as a fresh Fixed Deposit for the Bank.
    In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charges for premature closure.
    However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the Scheme.
22. Applicability of normal Fixed Deposit Rules - Other than the special terms and conditions of the scheme, the deposits under the scheme would be governed as per the normal Fixed Deposit Rules of the Bank.
23. Product Code under CBS - A separate Product Code under the CBS system for the scheme would be created by Head Office, DIT.
    Further, Head Office, DIT would be circulating the "Job Card for UCO TRIPLE ONE' Fixed Deposit Scheme containing the guidelines for the branches for opening the required account in CBS for operationalizing the scheme.

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A FIXED DEPOSIT WITH CHEQUE FACILITY

​This Term Deposit earns high interest and simultaneously offers overdraft facility through a Current Account. Cheque facility is available for withdrawal of money limited to 90% of the deposit. The drawals together with interest can be paid back in instalments, without affecting the growth of the deposit. This unique combination of fixed deposit with cheque facility comes as your true friend in meeting your emergency needs.

MAKES YOUR IDLE MONEY GROW

​This deposit scheme is devised to invest the surplus fund that you may keep in your Savings Bank or Current Account. Under the scheme, the surplus fund is invested in short term deposits for 46 days, and then is either paid back or renewed, as desired by you. The deposit earns a high interest while retaining its liquidity. The periodical transactions can be automatic as per your instructions. By making use of your idle money, the scheme provides you an option to meet both your short term and long term requirements.

For all term deposits (domestic/NRE), from Senior Citizens of age 60 years and above and deposit amount of less than Rs. 1 crore, an additional interest of 0.25 and 0.50 per cent over the normal rate of interest will be payable on maturity periods upto one year and above one year respectively. This will be applicable for fresh term deposits and renewals.

Verification of Age:

For the purpose of verification of age, at the time of opening a new term deposit account of a Senior Citizen, the branches should satisfy about the age by verifying any of the following documents :-

Secondary School Leaving Certificate indicating date of birth,

1. LIC Policy,
2. Voters Identity Card,
3. Pension Payment Order,
4. Birth Certificate issued by the competent authority,
5. Passport, or
6. Any other document acceptable to the branches

Renewal of Accounts of Senior Citizens

Once the age of a Senior Citizen is verified for accepting a term deposit under this special scheme, bank shall not seek proof of age for renewal of the deposit or for accepting subsequent term deposits from the same depositor under this special scheme.

Treatment of Joint Depositors

For term deposits from Senior Citizens jointly, with other person below the age of sixty years, under this special scheme, it has to be ensured that the name of the Senior Citizen is noted as the first name in the application for such deposits.

Automatic Transfer to Nominee

For this special deposit scheme for Senior Citizens, there will be automatic transfer of deposits to the nominees of such depositors in the event of death of the depositor.

Eligibility for Members of Staff

Branches may pay additional interest to our retired staff members, who are senior citizens on their fresh term deposits and on renewals of existing term deposits as follows:

There is no restriction in regard to the minimum amount. However, the amount of maximum deposit shall be equal to the Terminal benefits plus Rs. 10 lacs per ex-staff member.

Senior Citizens also enjoy the following facilities :-

a)Waiver of Penalty for Premature Withdrawal :For all fresh term deposits and renewals under the Special Deposit Scheme for Senior Citizens, there will be no penal rate for premature withdrawal of term deposits. However, interest rate applicable in case of premature withdrawal of deposit will be the rate as prevailing at the time of opening the deposit account and as applicable for the period for which the deposit was actually kept with the bank.

(b)Free Remittance Facility :All deposit holders under the Special Deposit Scheme for Senior Citizens will be offered free remittance facility up to Rs. 5000/- (Rupees five thousand only) per month i.e. without payment of any commission. However, to avail of this free service, requisite funds to be remitted must be routed through the depositors Current or Savings account.

(c)Loan Facility :Depositors under this scheme will be eligible for loans as per Bank's guidelines.

For all these attractive deposit schemes, please contact your nearest UCO Bank branch.

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Minimum Monthly Average Balance

Rs. 25000/- (at all centres).

Eligibility

Eligibility- Individuals (Singly or Jointly) i.e. no Govt. Accounts.

Cheque Book

2 booklet free (40 cheque leaves) per half year, thereafter, Rs. 3/- per leaf.

Immediate credit of outstation cheques

Upto Rs. 25000/- per occasion.

PO/DD/TT/MT

Upto Rs. 10000/- free per day.

NEFT/RTGS

FREE.

VISA Debit Card

FREE issuance with free add on card.

e-banking facility/Mobile Banking facility

YES

Standing Instructions

Free transfer in the same branch

Stop Payment Charges

FREE

Auto Sweep Facility

Above minimum balance Rs. 25000/-, in tranches of Rs. 5000/- Sweep in & Sweep out (maximum period 179 days) and with no pre mature penalty clause.

Charges for non-maintenance of minimum monthly average balance

Rs. 250/- p.m.

Charge for closure of Account within 12 moths

Rs. 250/-

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'Uco Veer Shakti' (UVS) - A Special Savings Bank Product Scheme

1. - PART A - UCO VEER SHAKTI - PRODUCT FEATURES, SALIENT FEATURES
2. - PART B - UCO VEER SHAKTI - OVERDRAFT FACILITY

UCO Sunshine Recurring Deposit Scheme with add-on benefits like anywhere banking, standing instructions etc., is designed to give additional facilities to those customers who desire to make a SYSTEMATIC INVESTEMENT PLAN on a monthly basis with higher returns and to accumulate a pre-determined corpus in a specified period.

• Who can open
  • A person in his/her own name OR
  • Two or more person, in their joint names.
  • By a natural guardian, i.e father or mother on behalf of the minor, by guardian appointed by court.
     
• Age of the Accountholder
  • Minors above 5 years represented by their Parents/Guardians.
  • Resident Indians above 18 years of age and not exceeding 65 years as on date of opening of the accounts.
     
• Pattern of Deposit -
  • Minimum monthly installment Rs. 500/- AND in multiples thereof.
  • Maximum monthly installment amount of Rs. 10 lac.
     
• Period of Deposit
  • Minimum 12 monthly installments, and thereon in the blocks 24 months, 36 months, 48 months and upto 60 months.
     
• Rate of Interest
  • As applicable and linked to normal Term Deposit Scheme.
     
• Nomination
  • The facility of nomination is available for USRDS Accounts.
     
• Privileges for Senior Citizens /Staff /Ex-staff
  • Additional rate of interest (ROI) over and above applicable ROI relevant to Banks Term Deposit.
     
• Loans
  • Loans may be granted subject to a maximum of 90% of the USRDS amount.
  • The minimum amount of loan, shall not be less than Rs. 2500/- and at least 6 monthly installments should have been paid.
     
• Terms & Conditions
  • All other terms & conditions applicable for existing Recurring Deposit Scheme of the Bank are also applicable to USRDS.

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