PART A - UCO VEER SHAKTI - PRODUCT FEATURES, SALIENT FEATURES

PART A - UCO VEER SHAKTI - PRODUCT FEATURES, SALIENT FEATURES

PRODUCT FEATURES - 'UCO VEER SHAKTI'
1. Who can open?
  • Confirmed Serving employees of Indian Armed Forces & Para Military Forces.
  • Ex-servicemen / retired employees of Indian Armed Forces and Para Military Forces.
  • Minimum entry age of 18 years.
2. Eligibility Serving and Ex-Servicemen / Retired employees of Indian Armed Forces and Para Military Forces furnished as below:-

Indian Armed Forces

  • Indian Army,
  • Indian Navy and
  • Indian Air Force

Para Military Forces

  • Assam Rifles: (AR) included under DSP
  • Indian Coast Guard (ICG)
  • Special Frontier Force (SFF)
  • Border Security Force (BSF)
  • Central Industrial Security Force (CISF)
  • Indo Tibetan Border Police (ITBP)
  • National Security Guard (NSG)
  • Sashastra Seema Bal (SSB)
  • Central Reserve Police Force (CRPF)
3. Minimum Balance The ‘UCO VEER-SHAKTI’ allows the depositor not to maintain a mandatory minimum amount of balance in the account i.e. ZERO Balance Account.
4. Criteria

For Serving Employees

  • Should have their Salary Account with UCO Bank only.

For Ex-Serviceman / Retired Employees

  • Should receive their pension through UCO Bank only.
5. Objective To enable the serving and retired employees of Indian Armed Forces and Para Military Forces to draw their salary through ‘UCO Veer Shakti’ product-scheme along with additional facilities like overdraft facility in case of unforeseen financial requirements along with other benefits /freebies and add-ons.  
6. Variants

The ‘UCO Veer-Shakti’ product-scheme for the employees of Indian Armed Forces and Para Military  Forces comes under four variants mentioned as below:-

1. Cadre - Serving Non Officers        2. Cadre - Serving Officers
3. Cadre - Pensioners Non Officers   4. Cadre - Pensioners Officers

SALIENT FEATURES OF 'UCO VEER-SHAKTI' PRODUCT-SCHEME
   SN Parameters Cadre - Non Officers
Cadre - Pensioners Non-Officers
Cadre - Officers
Cadre - Pensioners Officers
    1.

Scheme Code

Serving Non Officers (SB 129)
Pensioners Non-Officers (SB 131)

Serving Officers (SB 130)
Pensioners Officers (SB 132)

    2.

Lifetime Unique Savings Bank Account Number

Available.
 

Available.

    3.

Cheque Book 
Payable at Par facility at all UCO Bank branches

50 Cheque Leaves free per half year.

100 Cheque Leaves free per half year.

    4.

Pay Order / Demand Draft
 

Upto Rs. 10000/- Free per day.

Upto Rs. 20000/- Free per day.

    5.

NEFT / RTGS

FREE.

FREE.

    6.

Standing Instructions within UCO Bank Branches.

FREE.

FREE.

    7.

Overdraft Facility
(detail given in Part B of this
  Note).

Minimum Rs. 10000/- and Maximum 1 month net take home salary / pension or            Rs. 1 lac whichever is lower.
 

Minimum Rs. 10000/- and Maximum 1 month net take home salary / pension or          Rs. 1 lac whichever is lower.

    8.

Issuance of Debit Card.

Free - Personalized
UCO Gold Debit Card.

Free -
Add on card for Spouse.

Free -
For Joint Account holder.

Free -Personalized
UCO Platinum Debit Card.

Free -
Add on card for Spouse.

Free -
For Joint Account holder.

    9.

Usage of Debit Card.

Free - Unlimited number of transactions on   UCO Bank ATM

Free transactions at other Bank ATMs, however, subject to RBI regulations.

Unlimited number of transactions on UCO Bank ATM and other Banks ATM.

  10.

Transactions at ATM.

Any number of transactions subject to a Maximum Limit of         Rs. 50000/- per day including POS and   e-commerce.

(Per day Cash withdrawal Limit upto Rs. 50000/-).

Any number of transactions subject to a Maximum Limit of Rs. 1 lac per day including POS & e-commerce.

(Per day Cash withdrawal Limit upto Rs. 50000/-).

  11.

Cheque Collection.

 
     a.

At Same Centre

At Same Centre- Collection of local cheque by any CBS branch at the same centre where base branch is located - FREE.

     b.

Inter Sol Charges.

Inter Sol charges on such transactions - FREE.

     c.

Outstation Cheque      Collection charges.

At Other Centre - FREE.

  12.

Cash Deposit.

 
     a.

Inter Sol charges for Deposit of Cash at a Non-base branch at other SOL.

Fully Waived.

No cash handling charges upto Rs. 50000/- per day.

     b.

Deposit of Cash at any branch of other Bank for credit to account with our Bank Branch & vice-versa.

Will attract normal applicable charges.

  13.

Cash Withdrawal

a. At Local Non-base branch.

b. Outstation Non-base branch.

Self-withdrawal limit upto Rs. 50000/- per day.
No Inter Sol Charges.

Self-withdrawal limit of Rs. 50000/- per day to customers through self cheques at non base branch.

No third party cash payment / withdrawal allowed at Non-base branch.

  14.

e-banking /
Mobile Banking.

AVAILABLE.

  15.

Utility Bill Payment.

Free via net banking.

  16.

Locker Facility.

Preferential treatment subject to availability of Locker bins.

  17.

SMS Alerts

Free

  18.

Interest Concession.

Serving /Ex-Servicemen / Retired Employees of Indian Armed Forces and Para Military Forces will be eligible for Retail Loans under Home, Car and Cash Loans with concession in ROI upto 25 bps subject to applicable rate not below UCO Banks Base Rate.

  19.

Concession in Processing Fees.

Processing charges on Home Loan and Car Loan is Fully Waived for UVS Account Holders.

  20.

Auto Sweep Facility.

Above Rs. 15000/- Auto Sweep-in Auto Sweep-out in tranches of    Rs. 5000/- (Min. 7 days and Max. period 179 days with no pre-mature penalty clause).

  21.

Passbook Updating.

Free updating at Base and Non Base Branches.

  22.

UVS Advantage.

Continued account benefits post retirement also.

  23.

Processing of Education Loan

Education Loan Proposals favoring children of UVS account holders will be dealt with on priority for expeditious disposal as per extant guidelines.  

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