UCO Bank

UCO Bank

UCO Bank is a main global commercial bank owned by the Indian Government and it was previously known as United Commercial Bank. It was founded on 6 January in the year 1943. It provides banking services to the customers and has its head-quarters in Kolkata, West Bengal, India. The bank has a total strength of more than 4000 branches and also over 3000 ATMs. It also holds two representative branches abroad. The one is in Singapore and the other is in Hong Kong.


Every branch of UCO Bank is equipped with a unique code called the Indian Financial System Code or IFSC code in short. So, the IFSC code for Ashram Road branch, Ahmedabad, Gujarat is UCBA0000679 while the code for Changodar branch, Ahmedabad, Gujarat is UCBA0002459.

Debit Cards

UCO Bank offers a range of debit cards to customers through which they can enjoy spending their cash without actually carrying some. Carrying these cards is like carrying cash from the bank balance. Through these cards anytime, anywhere shopping is possible. The two main types of debit cards are:

  • EMV Chip Visa Debit Card-

This card can be used globally and also can be used online for many shopping purposes as well as bill payments. This card also offers many discount offers on dining, travelling and shopping.

  • UCO Visa Debit Card-

This card also holds international usage and provides benefits on dining, travelling and shopping.


UCO Bank has a large variety of loans to meet the fund requirements of every individual who wishes to avail of a loan. Whether it is a loan for your personal use or for buying a home or a car, UCO Bank has the solution for all your needs with the following loans:

  • UCO Shopper loan scheme
  • UCO Home
  • UCO Pre-approved home loans
  • UCO Top-up home loan
  • UCO Car
  • UCO CA Loan scheme
  • UCO Trader
  • Education loan
  • UCO Premier educational loan scheme
  • UCO Cash
  • UCO Rent
  • UCO Securities
  • UCO Property loan scheme
  • UCO Real estate
  • UCO Yatra
  • UCO Pensioner
  • UCO Two wheeler scheme
  • UCO Swabhiman
  • UCO educational loan scheme for vocational education and training

Home Loans

There are three types of Home Loan offered by UCO Bank The loan can be utilized either to buy or renovate your home or to construct a home on a residential plot of land.

  • UCO GrihaRakshaYojana
  • UCO GrihaRaksha Plus
  • UCO Griha Jeevan Suraksha

Interest Rates

Five types of Savings Accounts are offered which can be the basic Savings Account or the premium account or account designed for kids:

  • UCO Saral Savings Deposit Scheme
  • UCO Star Savings Deposit Schemes
  • No-frills Savings Bank Account
  • UCO Veer Shakti
  • UCO Smart Kids Savings Bank Scheme

The above listed accounts are eligible to earn a 4% interest rate every year which is paid after every 6 months.

Fixed Deposit Interest Rates

Term deposits offered by UCO bank also earn interest which is high. The rates are calculated keeping into account the duration for which the deposit is made.

  • Rates for short-term deposits-It ranges from 4.50% to 7.50% P.A. for a maturity of 1 year.
  • Medium and long-term fixed deposit rates-tenures which range for 1-4 yearsearn a rate of 9% p.a. and if the tenure goes up to 5 years the rate becomes 7.25% p.a.
  • Senior citizen interest rates-the rate of interest for senior citizens increases by 0.25% for short-term and medium-term holdings thus it ranges from 4.75% to 7.75% p.a. For long-term holdings, the interest rates further increases by 0.50% p.a. thus ranging between 8.00%

NRI Banking

The UCO bank offers various types of deposit and savings accounts to NRIs for their banking requirements which include:

  • FCNR Deposits-

‚ÄčThis account can be maintained in several foreign currencies like USD, GBP, EURO, JPY, AUD, SEK, CHF, SGD, HKD and CAD. The fund in this account is fully repatriable and the deposits are exempted from Indian Wealth Tax.

  • RFC Deposits-

This account can be in the form of savings, current accounts or term deposits and it can maintained in foreign currency like USD, GBP, EURO, JPY, AUD, SEK, CHF, SGD, HKD and CAD. The fund in this account is fully repatriable.

  • Rupee Deposits- These deposits are mainly of two types:
  • NRE Deposits-

This account can be in the form of savings, current, recurring accounts and fixed deposits. This account is maintained in Indian Rupee and the NRIs can earn attractive rates of interest on their deposits.

  • NRO Deposits-

This account can be in the form of savings, current, recurring and fixed deposits and can be opened in any Indian branches. It is maintained in Indian Rupee and is subjected to tax payment.

Internet Banking

Facility of internet services is also available to carry out banking transactions from anywhere without physically visiting the branch. The facility includes:

  • Online fund transfer
  • Online trading
  • Online ticket booking
  • Bill payments
  • Online reservations
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