UCO Bank Account provides a full-service banking experience, including internet banking, the ability to manage account balances, a Visa Debit Card, a zero balance account, simplified KYC criteria, and much more.
The savings bank (SB) account is open to minors over the age of 10 and adults over the age of 18. In addition to attractive UCO Bank savings account interest rate and other benefits, you will obtain a passbook, a cheque book, a high withdrawal limit, and a deposit limit.
Bank Current Account Products
UCO Bank Current Account products have been customised to provide business banking solutions for different kinds of businesses. Entrepreneurs can select from the current account products from the below list that suits their business requirements. The below following are the UCO bank current accounts explained in detail.
- UCO Basic Current Account
- UCO Care Current Account
UCO Basic Current Account
This UCO Basic Current Account is a type of current account that fits the business professionals or business enterprise and those who carry out large domestic businesses.
- Cheque Book – Rs 3 is charged for per cheque leaf
- Immediate Credit – Immediate Credit of outstation cheques up to Rs. 15,000 per occasion
- PO/DD/TT/MT – These facilities are available according to its applicable charges.
- NEFT – Remission of charges on NEFT transaction up to Rs. 1 lakh only, charges are applicable thereafter.
- RTGS – Charges as applicable
- Ledger Folio Charges – Charges as applicable
- Cheque Book – Rs.3 is charged for per cheque leaf
- Immediate Credit – Immediate Credit of outstation cheques up to Rs 15,000 per occasion
- Balance Certificate – Free of Cost
- Statement of Account – Free (Monthly Once)
- VISA Debit Card – FREE (Facility available for individual Current Account-holders only)
| Minimum Average Quarterly Balances for Individual |
|
| Minimum Average Quarterly Balances for Others |
|
| Charges for Non – Maintenance of Minimum Monthly Average Balance | Rs. 500/- per quarter |
| Cash Withdrawal at a local non-base branch | Up to Rs. 25000/- per day – Rs. 10/- |
| Cash Withdrawal at the outstation non-base branch | Charges per transaction |
| Cash Deposit at a Non-base branch | Free of charge |
UCO Care Current Account
This UCO Basic Current Account is a type of current account opened by the business entities which provide the account holders with the banking support in terms of its business expertise.
- Cheque Book – 50 cheque leaves free per Half-Year, and after that, Rs 3 is charged for per cheque leaf
- Immediate Credit – Limit up to Rs. 25000/- per occasion
- PO/DD/TT/MT – Free up to Rs. 10000/- per day.
- NEFT – Free of Charges
- RTGS – 50% of applicable charges
- Ledger Folio Charges – Free of Charges
- Cheque Book – Free of Charges
- Balance Certificate – Free of Cost
- Statement of Account – Free (Monthly Once)
- VISA Debit Card – FREE (Facility available for individual Current Account-holders only)
- Immediate Credit – Limit up to Rs. 25000/- per occasion.
| Minimum Average Monthly Balances to be maintained in the account. |
|
| Charges for Non – Maintenance of Minimum Monthly Average Balance | Rs. 500/- per quarter |
| Cash Withdrawal at a local non-base branch | Self-withdrawal up to Rs. 50000/- per day |
| Cash Withdrawal at the outstation non-base branch | Self-withdrawal limit of Rs. 50000/- to customers |
Eligibility Criteria – UCO Bank Current Account
- Resident Individual
- Hindu Undivided Family (HUF)
- Sole Proprietorship firm
- Partnership Firm
- Private or Public Limited Company
- Limited Liability Partnership (LLP)
- Trust/ Association/ Club/ Society
- Foreign Institutional Investor (FII)
- Foreign National Residing in India
Documents Required
For HUF (Hindu Undivided Family)
- Application Form (duly filled)
- Identity Proof of the Karta: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
- Address Proof of the Karta: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
- Duly signed HUF letter by Karta and all Co-Parceners.
- Passport-size photographs.
For Sole Proprietorship
- Registration certificate
- Sales and income tax returns.
- Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
- Address Proof as per KYC norms: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
- ID proof of the person holding POA.
- CST/VAT registration Certificate.
- Passport-size photographs
For Partnership Firm
- Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
- Address Proof as per KYC norms: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
- Partnership Registration Certificate (in the case of a registered concern).
- Partnership Deed
- Passport-size photographs of the partners.
For Public/ Private Limited Companies
- Application form in the prescribed form.
- Memorandum and Articles of Association.
- Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
- Address Proof as per KYC norms: Aadhar Card, Valid Passport, Utility bill, Property tax bill, Telephone bill, etc.
- Commencement of Business Certificate.
- Incorporation and Board Resolution Certificate.
- Registration certificate
- Licence Certificate issued by the Municipal Authorities under Shop & Establishment Act.
- Passport-size photographs
For Clubs/ Societies/ Trusts
- Registration certificate (if registered).
- Documents listing the name and address proof of the trustees, sellers, beneficiaries, and the persons holding the Power of Attorney (POA).
- Constitution document of the entity.
- The updated directors list to be submitted.
- Application Form (duly filled).
- Power of Attorney
- Identity Proof as per KYC norms: PAN Card, Aadhar Card, Driving License, Voter ID Card, etc.
For Limited Liability Partnerships (LLP)
- Power of Attorney (POA)
- Registration Certificate issued by Registrar of LLP.
- Identity Proof of POA holders: PAN Card of the entity.
- Address Proof: Aadhar Card of the sole proprietor/ entity, Valid Passport, etc.
- Two passport size colour photographs.
- LLP agreement.
- Designated partners updated list.
FAQs
Who can open a UCO Bank Current Account?
- Individuals: Self-employed professionals, business owners, and entrepreneurs.
- Businesses: Private limited companies, partnerships, LLPs, and sole proprietors.
- Government & Semi-Government Organizations: Various entities requiring a current account for operational needs.
What are the features of a UCO Bank Current Account?
- No interest: Current accounts typically do not earn interest on the balance.
- Multiple transactions: Allows frequent deposits and withdrawals without restrictions.
- Cheque facility: You can issue cheques for payments.
- Online banking: Access to online banking for easy fund transfers, bill payments, and account management.
- ATM & Debit Cards: Access to UCO Bank’s ATMs and linked debit cards for easy withdrawals.
- Overdraft facility: Some current accounts offer overdraft facilities (subject to terms and conditions).