UCO Bank

Deposits

Besides the facilities of opening Current Deposit/Savings Bank Deposit/regular Recurring Deposit and Fixed Deposit accounts, customers in UCO Bank are provided with a number of well thought out deposit schemes, tailor made to suit different needs of different people - each in its own way maximizing the benefits for the depositor.

Current Account:

SN Salient Features UCO BASIC CURRENT DEPOSIT SCHEME
1.
  • Minimum Balances to open Account.
And
  • Minimum Average Quarterly Balances to be maintained in the account.
A- UCO CURRENT BASIC MINIMUM BALANCES
CATEGORY METRO URBAN SEMI-URBAN RURAL
Individual Rs. 3000/- Rs. 3000/- Rs. 2000/- Rs. 1000/-
Others Rs. 5000/- Rs. 5000/- Rs. 2500/- Rs. 2000/-
2. Cheque Book Rs. 3/- per cheque leaf (No Free Cheque leaves)
3. Immediate credit of outstation cheques Upto Rs. 15000/- per occasion.
4. PO/DD/TT/MT Facilities available with applicable charges.
5. NEFT Waiver of charges on NEFT transactions upto Rs. 1 lac only. Thereafter, charges as applicable.
6. RTGS Charges as applicable.
7. Ledger Folio Charges Charges as applicable
8. Standing Instructions
Details Service Charges
Same Branch and in same name Nil per transaction
Same Branch and in different name
  • Rs. 25/- for individuals
  • Rs. 50/- others per transaction
Involving another branch
  • Rs. 25/- for individuals
  • Rs. 50/- others per transaction
  • Plus actual remittance charges
Insufficiency of funds
to carry out Standing Instructions
Rs. 50/- per occasion.
9. Balance Certificate Rs. 75/- per occasion
10. Auto-Sweep Facility Not Available under this deposit scheme
11. Statement of Account Monthly one free, thereafter, Rs. 100/- per request
12. Cheque Collection
  • Inter Sol Charges
  • Outstation Cheque Collection charges
 
  • Base branch at same centre- Collection of local cheque by any CBS branch at the same centre where base branch is located - FREE
  • Non-base Branch of Other Centre - Outstation cheque collection charges plus fund transfer (Inter Sol) charges will be levied.
13. Cash Deposit
  • For the Customers of our own Bank Inter Sol charges for Deposit of Cash at a Non-base branch at other SOL - FREE of charge
  • Deposit of Cash at any branch of other Bank for credit to account with our Bank Branch & vice-versa - will attract charges.
  • However, cash handling charges will be levied extra.
14. Cash Withdrawal
  • At Local non base
branch and
  • At Outstation Non-
base branch
 
  • Upto Rs..25000/- per day - Rs. 10/- per Inter Sol
  • Charges per transaction
a) above Rs. 25000/-@ Rs. 1.75 per thousand
b) above Rs. 25000/-@ Rs. 3/- per thousand
(No Third party cash withdrawal allowed and
Self withdrawal restricted to Rs. 50000/- per day at
non base branch)
15. Charges for non-maintenance of minimum quarterly average balance Rs. 500 per Quarter
16. Charge for closure of Account. within 12 months
  • For Firms and Companies Rs. 500/-
  • For Others Rs. 250/-
(Note - No Charges shall be levied in case of death of depositor and transfer of deceased Depositors Account to our other branch)
17. VISA Debit Card FREE (Facility available for Individual Current Account-holders only)
18. e-banking facility
Mobile Banking facility
AVAILABLE
19. Toll Free Number (Help-Line) 1800 103 0123

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Saving Account:

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. 1000 Rs. 1000 Rs. 500 Rs. 250
Others Rs. 1500 Rs. 1500 Rs. 1000 Rs. 250
Pensioners Rs. 250 Rs. 100 Rs. 100 Rs. 100

B - Minimum Balances without Cheque-Book Facility

Category Metro Urban Semi-Urban Rural
All classes of depositors Rs. 500 Rs. 500 Rs. 250 Rs. 100
Pensioners Rs. 50 Rs. 50 Rs. 50 Rs. 50

Cheque Book

1 booklet free (20 cheque leaves) per half year, thereafter, Rs. 3/- 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

  • At Rural Branches: Rs. 50/- per instrument.
  • At Other Branches: Rs. 75/- per instrument.

Charges for non-maintenance of minimum Quarterly average balance

  • At Rural branches with cheque facility : Rs.100/- per quarter
  • At Other Branches with cheque facility: Rs. 150/- per quarter
  • At all branches without cheque facility: Rs.100/- per quarter

Charges for closure of a/c within 12 months.

  • Rs. 100/- For Rural Branches
  • Rs. 200/- for Other Branches

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New Deposit Scheme titled "UCO No-frills Savings Bank Account"

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 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 Bank 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 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 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.

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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

4.00% 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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Fixed Deposit:

A SAFE DEPOSIT TO INCREASE YOUR WEALTH

kuner-yojona 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.

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

flexible-depositDeposits 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.

 

Recurring Deposit:

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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Accounts in Foreign Currency:

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

US Dollars US$ 500/-
GBP GBP 325/-
Euro Euro 500/-
Japanese Yen    JPY 60,000/-

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

US Dollars US$ 5,000
GBP GBP 3,000
Euro Euro 4,000
AUD AUD 7,000

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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A. Current Deposit Account

Category of depositors As per location of Branch Office
Metro Urban Semi-urban Rural
Individual Rs.3000/- Rs.3000/- Rs.2000/- Rs.1000/-
Others Rs.5000/- Rs.5000/- Rs.2500/- Rs.2000/-

B. Savings Bank Account
(With cheque book facility)

Individual Rs.1000/- Rs.1000/- Rs.500/- Rs.250/-
Others Rs.1500/- Rs.1500/- Rs.1000/- Rs.250/-
Pensioners A/C Rs.250/- Rs.100/- Rs.100/- Rs.100/-
(Without cheque book facility)
All class of depositors Rs.500/- Rs.500/- Rs.250/- Rs.100/-
Pensioners A/C Rs.50/- Rs.50/- Rs.50/- Rs.50/-

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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Most Important Terms and Conditions (MITC) of Savings Bank Accounts (View)

Information Regarding Closed Schemes:

SN PARAMETER DETAILED PARTICULARS - UCO THOUSAND FIXED DEPOSIT SCHEME
1. Title of the Scheme “UCO Thousand” 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 15 October, 2014
However, the Bank would reserve the right to modify, withdraw or extend the scheme without any prior notice.
4 Eligibility to Open Account Any existing or new customer complying with the KYC norms will be eligible to open the account in this scheme.
5. Period of Deposit 1000 days
6. Amount of Deposit
a) Minimum Amount :- Rs. 5000/- (thereafter in multiples of Rs . 1000/-)
b) Maximum Amount :- Rs 500 lac
7. Rate of Interest :- General Public - 7.80% per annum (revised w.e.f. 02/11/2015)
8. 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. 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. However, the payment/credit of interest to the account will be subject to TDS as applicable.
9. Premature Withdrawal There will be no penalty in case of pre-mature withdrawal of the fixed deposit. However, in above case, interest will be paid at 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.
10. Loan/Overdraft against the Deposits Facility for availing loan/overdraft against ‘UCO Thousand’ Fixed Deposit Scheme would be available as per existing guidelines for availing loan/overdraft against Bank’s own Fixed Deposits.
11. Nomination The facility of nomination would be available under the scheme.
12. 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.
13. Participating Branches All branches of the Bank would be authorized to open ‘UCO Thousand’ deposit accounts under the Scheme.
14. 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 Thousand” Fixed Deposit Scheme.
15. 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 Thousand” Fixed Deposit Scheme is to be invariably affixed by branches.
16. 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.
17. Tax Implications Tax would be deductible at source as per the prevailing Income Tax rules.
18. Transferability 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 Incentive Rate is allowed to Sr. Citizen / Staff / Ex. Staff Sr .Citizen categories:
Category Applicable Rate of Interest
Senior Citizen 8.30%
(revised w.e.f. 02/11/2015)
Staff Member/ Ex-Staff/ Sr .Citizen 8.80%
(revised w.e.f. 02/11/2015)
20. 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.

21. 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.
22. 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 Thousand’ Fixed Deposit Scheme containing the guidelines for the branches for opening the required account in CBS for operationalizing the scheme.

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Category Applicable Rate of Interest
Senior Citizen 8.30% (revised w.e.f. 02/11/2015).
Staff Member 8.80% (revised w.e.f. 02/11/2015).
Ex-Staff Member
Ex-Staff & Senior Citizen
  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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Category Applicable Period for Doubling of Deposit
Senior Citizen 105 Months
Staff Member / Ex-Staff Member 98 Months
Ex-Staff and Senior Citizen 98 Months
  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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SN PARAMETER DETAILED PARTICULARS - UCO DOUBLE CENTURY FIXED DEPOSIT SCHEME
1. Title of the
Scheme
"UCO Double Century" 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 5th December, 2013 and will remain valid up to 30th June, 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
200 days
  7. Amount of Deposit
a)
Minimum Amount
:- Rs. 5000/- (thereafter in multiples of Rs. 1000/-)
b)
Maximum Amount
:- Upto Rs. 500 lac
8. Rate of
Interest
:- General Public:- 9.05% per annum
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 two quarters and the simple rate of interest would be paid on the compounded amount after the two 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 Double Century' 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 Double Century' 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 Double Century" 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 Double Century" Fixed Deposit Scheme is to be invariably affixed by branches.
17. Automatic Renewals No auto renewal is permitted under 'UCO Double Century' FD Scheme. However, on specific mandate of the depositor at the time of opening of 'UCO Double Century', 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:
Category Applicable Rate of Interest
Senior Citizen* 9.05 %
Staff Member /
Ex-Staff Member
9.05 %
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.
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 Double Century" Fixed Deposit Scheme containing the guidelines for the branches for opening the required account in CBS for operationalizing the scheme.

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Category Applicable Rate of Interest
Senior Citizen* 9.10% + 0.25% i.e. 9.35%
Staff Member /Ex-Staff Member 9.10% + 1.00 % i.e. 10.10%
Ex-Staff Member /Senior Citizen 9.10% + 1.25% i.e.10.35%
  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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Category Applicable Rate of Interest
Senior Citizen* 9.20 %
Staff Member /Ex-Staff Member 9.20 %
  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

friend-in-needThis 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

2-wayThis 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:

Period of Deposit Normal Staff Privilege As a Senior Citizen Total extra interest
All Terms 1% 0.25% 1.25%

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 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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