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UCO Bank Savings Accounts

UCO Bank Savings Account

Last Updated 24th Dec 2020

  • UCO Bank offers a wide range of savings account products for specific customer groups.
  • Minimum balance requirement to open a savings account in UCO Bank is AQB ranges between Rs. 250 and Rs. 1,000.
  • You can get high returns up to 2.50% on a savings account.
  • Open instant UCO Bank savings account online.
  • Internet banking and mobile banking facility available.
  • The facility of safe deposits locker facility, nomination available in UCO Bank.
Apply for Savings Account

UCO Bank Savings Account

UCO Bank offers a wide range of savings accounts that allows individuals to deposit money, keep it safe, and withdraw funds, all while earning interest. It provides a savings account according to the needs of the specific customer groups and caters to their requirement. For instance, it offers the Premium saving account for its high-end customers and also provides the minor savings account for children below the age of 18 years. The bank offers several facilities like internet banking, mobile banking, and allows no minimum balance requirement in many saving account products.

Features and Benefits of UCO Bank Savings Account

Benefits of UCO Bank saving Account are as follow:

  • UCO Bank offers an interest rate on saving account in the range of 2.50% to 2.50%.
  • Balance requirement for UCO Bank savings account is AQB ranges between Rs. 250 and Rs. 1,000.
  • An individual can transfer the UCO Bank savings account to any other branch without changing the account number.
  • Safe deposits locker facility, nomination facility is also available.
  • UCO Bank savings account provides the facility of linking to the Multi Option Deposit account to fetch higher term deposit interest on the surplus money.
  • It provides various kinds of debit cards as per account holder’s convenience.
  • UCO Bank offer banking facilities like internet banking and missed call banking. An individual can also avail the mobile banking facility which provides services like interbank mobile payment services (IMPS), utility bill payments, mobile recharges, enquiry and statements and cheque book request.
  • No charge is levied for passbook service.

UCO Bank Savings account Charges

ProductMinimum balanceInterest RateNon Balance Maintenance Charges
Saral Savings Deposit SchemeAQB ranges between Rs. 250 and Rs. 1,0002.50% - 2.50%Rs. 100 to Rs. 150
No-frills Savings Bank Account (Zero Balance)NIL2.50% - 2.50%None
UCO Smart Kids Savings Bank SchemeNIL2.50% - 2.50%None

UCO Bank Savings Account Products

UCO Bank offers multiple savings account products for different purposes. Some of the popular products of UCO Bank savings are:

Saral Savings Deposit Scheme

This account helps you meet your day to day banking needs.

Key Features:

  • 1 booklet free 20 cheque leaves per half year
  • e banking / Mobile Banking

Eligibility:

  • This account is for resident Indians of 18 years of age and above

No-frills Savings Bank Account (Zero Balance)

Banking services accesible at ease for all.

Key Features:

  • Zero balance savings account
  • Accounts opened with initial deposits of Rs. 250 only
  • For standing instructions, no charge will be levied

Eligibility:

  • This account is for resident Indians of 18 years of age and above

UCO Smart Kids Savings Bank Scheme

Inculcate the habit of savings and spending judiciously in your minor who can open this account and manage it independently.

Key Features:

  • 2 cheque books free per year
  • Standing instructions Free from Savings Bank account to RD/FD account in his/her name
  • Transfer of funds Free from natural guardian / grandparents accounts
  • No processing charge in future education loan

Eligibility:

  • The features of this account can be enjoyed by minors

UCO Bank Savings Account Nomination Plan

UCO Bank asks their customers to make nominations which imply that they should nominate individuals to whom the amount lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The person can change the nomination any time. UCO Bank savings account provides the nomination facility in all the savings products.

UCO Bank Savings Account Welcome Kit

UCO Bank provides a Welcome Kit containing personalised cheque book and ATM Card, which is mailed to the customers’ postal address selected for correspondence, after 7 – 8 working days from the date of opening of a particular savings account.

Top Applications Offering UPI Facility

UCO Bank Savings Account Helpline

Individuals can call UCO Bank’s 24X7 helpline number , which is accessible from all landlines and mobile phones in the country.

Open saving account with Other Banks online

FAQs

Can I open UCO Bank bank account online?

UCO Bank enables individuals to open a savings bank account online as well. Individuals can open an Insta saving account and digital savings account.

What is the minimum balance for an UCO Bank savings account?

Minimum balance requirement differs with UCO Bank saving account products. The minimum balance required to open a Saral Savings Deposit Scheme in UCO Bank is AQB ranges between Rs. 250 and Rs. 1,000.

Which saving account is best in UCO Bank?

There are various savings account products offered by UCO Bank. These accounts are specially developed for a certain section of people. Individuals may compare the interest rate offered, minimum account requirements and facilities provided to select the best product.

Can I open UCO Bank account with zero balance?

The minimum balance requirement to open a savings account with UCO Bank is AQB ranges between Rs. 250 and Rs. 1,000. If any individual does not maintain the minimum balance then non-balance maintenance charges are levied.


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UCO Bank News - Jan 2021
  • 2020-08-04 : UCO Bank reports Rs. 21.46 crore PAT in Q1
    UCO Bank posted a net profit of Rs.21.46 crores for the period ended June 30, 2020, as against a net profit of Rs.16.78 crores for the period ended March 31, 2020. The bank reported total income aided by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans of Rs.4436.57 crores during the period ended June 30, 2020. In addition to this, total deposits which include FD, RD, current and savings accounts increased by 1.4% to Rs 1,95,119.60 crore.
  • 2019-10-17 : Public Sector Banks plan to implement doorstep banking
    Public Sector banks are set to launch the doorstep banking facility for their customers. The facility will allow customers to withdraw and deposit cash without visiting the bank. The doorstep service will assist through a call center, website, and mobile app. Further, to launch this facility, UCO Bank filed a ‘Request for Proposal’ on behalf of all public sector banks that will adopt a common service provider for this purpose.
  • 2018-12-18 : UCO Bank expects profitability boost
    Public sector lender, UCO Bank is hoping that its profitability for the current fiscal will increase due to an increase in its current account savings account (CASA) deposits. The strong growth in its overall performance and CASA deposits is expected due to the agreement signed between India and Iran for oil imports payment in rupees resulting in a positive impact on the balance sheet of the bank.
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