Saving Account
A savings account has now become a financial instrument that helps you secure your funds while also earning your interest. Today, a Savings Account is essential for managing your personal finances. It could be to pay utility bills, shopping bills, transfer or withdraw funds, address your emergency needs, or even to invest in other financial instruments.UCO bank savings account is here to help you in planning your financing better for your bright future.
Benefits |
Classic |
Silver |
Gold |
Platinum |
Gross Monthly Salary |
Rs. 15000 to Rs. 25000 |
Above 25000 to 50000 |
Above Rs. 50000 to 100000 |
Above Rs. 100000 |
Personal Accidental Insurance |
Rs 20 Lakhs |
Rs 40 Lakhs |
Rs 50 Lakhs |
Rs 100 Lakhs |
Air Accidental Insurance |
- |
Rs 40 Lakhs |
Rs 50 Lakhs |
Rs 100 Lakhs |
Debit Card Variants |
Personalised Rupay Platinum |
Rupay Select /Personalised VISA Platinum |
Rupay Select /Personalised VISA Signature |
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RTGS/NEFT /IMPS/ SMS CHARGES |
Free in Online Modes-Through m-Banking, e-Banking, SMS Free |
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DD/PO CHARGES |
Free unlimited upto Rs 25000 |
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Processing Charges on Home Loan & Car Loan |
100 % waiver in processing charge on Home loan & Car loan.* |
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Concession in Rate of Interest |
- |
- |
- |
0.10% in Home Loan, Car Loan* |
Lockers Fee |
25 % discount small Lockers |
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Transactions through UCO Bank ATM |
Unlimited Free |
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Auto Sweep Facility |
Min Balance- 25000 for Classic & Silver and 50000 for Gold & Platinum, Minimum amount for auto sweep – 25000 in trenches of Rs 10000 for Maximum for 180 days. |
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Overdraft Facility |
Up to Rs 2 Lakhs |
Up to Rs 3 Lakhs |
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UCO Rupay on the go Key Fob |
Chargeable |
Free |
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Cheque Facility |
25 +25 Cheque leaves free per annum (Personalised) |
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Domestic Lounge Access |
1 Per Quarter |
1 Per Quarter |
2 Per Quarter |
2 Per Quarter |
International Lounge Access |
- |
- |
2 Per Quarter |
2 Per Quarter |
Complementary Health Check-up |
- |
- |
Once in a Year |
Once in a Year |
Complementary SPA Services |
- |
- |
Once in a Year |
Once in a Year |
Gym Access Programme |
- |
- |
Once in a Year |
Once in a Year |
Other Banking Benefits |
Zero Balance Account (No Minimum Balance Required). Zero Balance Account for Spouse & Children. Demat Account Opening Free, AMC 50% Discount. Credit Card Facility Available |
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TERMS AND CONDITIONS APPLY ALL RELATED OFFER IS SUBJECT TO REGULAR SALARY CREDIT IN UCO SUVIDHA SALARY ACCOUNTS. OFEERS MENTIONED ABOVE ARE SUBJECT TO CHANGE TIME TO TIME. |
Minimum Balances to open account and Minimum Average Quarterly Balances to be maintained in the account.
A - Minimum Balances with Cheque-Book facility
Category | Metro | Urban | Semi-Urban | Rural |
Individual | Rs. 2000 | Rs. 2000 | Rs. 1000 | Rs. 500 |
Pensioners with/without cheque |
No penalty charges and operated at Zero Balance. |
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B - Minimum Balances without Cheque-Book Facility
Category | Metro | Urban | Semi-Urban | Rural |
All classes of depositors | Rs. 1000 | Rs. 1000 | Rs. 500 | Rs. 250 |
Cheque Book
1 booklet free (25 cheque leaves) per year, thereafter, Rs. 4.24/- (excluding GST) per cheque.
Immediate credit of outstation cheques
Upto Rs. 15000/- per occasion.
PO/DD/TT/MT
Facilities available with applicable charges.
NEFT/RTGS
Facilities available with applicable charges.
VISA Debit Card
FREE.
e-banking / Mobile Banking
Available
Standing Instructions
Facilities available with applicable charges.
Stop Payment Charges
- Rs 127 + GST per instrument, subject to a maximum of Rs 602 + GST for individual and others.
Charges for non-maintenance of minimum Quarterly average balance
Shortfall in AQB | Rural/Semi Urban/Urban/Metro |
Up to ₹ 500 | ₹ 50 + GST Per Qtr. |
₹ 501- ₹ 1000 | ₹ 100 + GST Per Qtr. |
₹ 1001 – ₹ 2000 | ₹ 150 + GST Per Qtr. |
Closure of accounts:
- Charges for closure of a/c within 14 days No charges
- Charges for closure of a/c after 14 days but before 12 months
Savings Bank: Without Cheque Book | ₹ 250 + GST |
Savings Bank: With Cheque Book facility | ₹ 350 + GST |
New Deposit Scheme titled "UCO Zero balance scheme"
In order to include a larger cross-section of the population, who are at the bottom of the pyramid, to avail of the banking services who could not avail of the same on account of some restrictive clauses, namely, minimum initial deposit for opening of the account which is difficult to arrange by such population, maintenance of minimum balance failing which charges are levied etc., it has been felt expedient to introduce a new Savings Deposit Scheme titled "UCO No-frills Savings Bank Account". The salient features of the scheme so designed are as follows :
- Title of the Scheme - "No-frills Savings Bank Account (Zero Balance)".
- Initial deposit for opening the account and maintenance of minimum balance - The Savings account can be opened with a minimum initial deposit of Rs.5/-. In case of cheque facility being availed by the account holder, the minimum initial balance should be Rs.250/-. In case of need, the balance in the account may be allowed to go even below the minimum initial deposit and the account may continue even with "Zero" balance.
Opening of Account under the scheme - The scheme is introduced in all metro, urban, semi-urban and rural categories of branches without making any differentiation with regard to amounts of initial deposit and maintenance of minimum balance as prevailing at present for opening of Savings Bank Accounts.
- Eligibility for opening "No-frills Savings Bank Account" - The eligibility for opening "No-frills" Account will be the same as that for opening an ordinary Savings Bank Account. Persons above the age 10 and below 18 years and are able to read and write may also open a minor no-frills savings account in his own name or jointly with any other person.
- Restriction of number of withdrawals/debit entries in "No-frills" Account - upto 25 debit entries in a half-year are allowed free in those accounts. In case the debit entries exceed 25 during a half-year, charges will be levied @ Rs.3/- per additional entry during a half-year.
- Charges to be levied -
- For accounts opened with initial deposits of Rs.250/- for having Cheque Book facility, in case the balance comes down below the initial deposit even upto zero balance, usual charge for non-maintenance of initial deposit shall be levied.
- For standing instructions - no charge will be levied.
- Collection of cheques and issuance of Demand Drafts/MTs are permitted in those accounts and normal charges are to be levied for those services.
- For accounts with cheque book facility, one cheque book of 20 leaves to be provided free of charge in each year. Any additional requirement of cheque leaves during a year will attract a charge of Rs.2/- per cheque leaf.
- No incidental and folio charges will be levied in these accounts.
- All other charges for services as presently applicable for normal Savings Account are to be levied and recovered.
- Compliance of KYC Guidelines -
Simplified KYC procedures for opening of Accounts as advised through Bank's Circular No. CHO/SUA/39/2005-06 dated 29.08.2005 may be adhered to. The salient features of the Circular are mentioned hereunder for ready reference :
In case, the person concerned who wants to open the savings account is not able to produce any of the specified documents, required to be verified at the time of opening of account to establish the identity and address of the customer, the account may be opened for those persons subject to compliance of the following :- Introduction from another account holder who has been subjected to full KYC procedure. The introducer's account with the bank should be at least six month old and should show satisfactory transactions. Photographs of the customer who proposes to open the account and also his address need to be certified by the introducer. or
- Furnishing any other evidence as to the identity and address of the customer to the satisfaction of the bank. However, while opening such savings accounts the customer should be made aware that if at any point of time, the balance in all his/her accounts with the bank (taken together) exceeds Rs.50,000/- or total credits in the accounts exceed Rs.1.00 lakh in a year, no further transaction will be permitted in the account until full KYC procedure in regard to verification of identity and address of the customer through the documents as specified are complied with.
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 a normal SB account.
Charge for closure of account within 12 months
NIL
Stop payment charges
Free
Standing instruction
Free from Savings 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
- Personalised ATM cards with photograph.
- Net Banking with transaction facility *.
- Minimum balance - NIL
- Cheque Books-2 books free per year.
- Concession in education loan- No processing charge in future education loan
- Attractive passbook
* Initally Net Banking facility will be viewed only and transaction facility will be given in due course.
Balance | Rate of Interest (p.a) |
Upto Rs 10 lakhs | 2.6% (Not linked to Repo Rate) |
over Rs 10 lakhs | 2.75% (Not Linked with Repo) |