Home / Banking / How to Open a Bank Account in UCO Bank ?

How to Open a Bank Account in UCO Bank ?

Open Bank Account in UCO Bank : UCO Bank is one of the largest, trustworthy and a growing bank in India. If you plan to open a new bank account, one option must be UCO Bank. Opening a Bank Account in UCO Bank is not just visiting the Branch and getting your Bank Account opened immediately. There are a few formalities which you must complete to get a UCO Bank Account. Also, you must know about the eligibility criteria to open a new bank account in UCO Bank. Knowing all these things beforehand is a good thing, as you need to prepare yourself to apply for a bank account in UCO Bank.

How to Open a Bank Account in UCO Bank ?

Before we move ahead to know the procedure to open a bank account in UCO Bank, let us first know about the eligibility to open UCO Bank Account.

Eligibility to Open a Bank Account in UCO Bank

Before you make a visit to UCO Bank, it’s a good thing to check whether you meet all the criteria for opening an account with UCO Bank. Most of the UCO Bank Branches will require the following :

1) Applicant must be an Indian Citizen.

2) Applicant must be over 18 years of age(Except Minor Account).

3) Applicant must have the necessary KYC Documents to open UCO Bank Account. Usually Proof of Address, Proof of Identity and PAN Card is required.

4) Applicant should have a Guarantor who has a Bank Account in the same branch of UCO Bank (Sometimes not needed).

5) Applicant must have minimum deposit amount for the Account(Not applicable for some accounts). For Example :- Rs.1000 is required to open a normal Savings Account in UCO Bank.

Types of Bank Accounts offered by UCO Bank

Once you know that you are eligible to open a bank account in UCO Bank, you must choose the account that best suits your need. Here is a list of some of the main types of Bank Accounts that are being offered by UCO Bank.

1) UCO Saral Savings Deposit Scheme : UCO Saral Savings Scheme comes along with the perks of a savings account like free Debit card and 40 cheque per financial year. You will also be able to use the services like netbanking and mobile banking services, and fund transfer services like the NEFT/RTGS as well.

2) UCO Star Savings Deposit Scheme : Account holder of this type of Account is eligible for 40 cheque leaves half-yearly at no additional charge, along with a Debit card and an add-on card free of cost. Account Holders can also make fund transfers by making use of NEFT/RTGS free of cost. Account Holders will not be charged for stop payments and can also issue Demand Drafts/Pay Orders of amount upto Rs. 10, 000 a day free. Any Amounts which are above the minimum balance would be swept out into term deposits of 179 days in multiples of Rs. 5,000, earning an interest at the prevailing deposit interest rate.

3) UCO No-Frills Savings Account : This type of UCO Bank account is designed specially for individuals who would not be able to open a Savings Account because of a number of reasons. This account gives them access to a savings habit and not only that but they would be able to issue Demand Drafts, issue cheques etc. It can be opened with only a balance of Rs. 5 and can be operated with as low as zero balance. It can be called as a partial KYC compliant account. In this account a total of 25 debit transactions can be made in a half-yearly period.

4) UCO Veer Shakti Savings Account : This type of UCO Bank Savings account is meant exclusively for defence officials, both currently serving as well as retired members. The Indian Armed Forces and para-military forces are eligible to receive their salaries and pensions through this savings account and will get a number of benefits like personalised Debit Cards with add-on cards free of cost and no processing charges for home and car loans. The account holders will also get access to an overdraft facility with special privileges.

5) UCO Smart Kids Savings Scheme : This type of Savings Scheme’s main objective is to inculcate a saving habit in Kids, that encourages them to save. This account can be opened by a child above 10 years of age and it comes along with personalised ATM Cum Debit cards with a POS limit of Rs. 3,000 per day. Account holders will also get 2 cheque books free of charge every financial year. Fund transfers from the accounts of parents/grandparents would not be charged.

6) Current Account : Current Account is Bank Account provided to a business entity like Partnership firm, Limited Companies, Pvt. Ltd. Companies etc.

Read Also : Types of Joint Accounts in India

Steps to Open a Bank Account in UCO Bank

Once you have checked your eligibility and made up your mind with one of the bank accounts, you can proceed with the steps to open UCO Bank Account.

1) Gather the required KYC Documents : The first and the foremost thing to do is to gather all the necessary KYC documents to open a Bank Account in UCO Bank. You will need to provide the photostat copies of your Address Proof, Identity Proof, PAN Card, 2 Passport Size Photographs. Also, you would be required to produce the originals during verification process.

2) Collect & Fill Account Opening Form : Once you have gathered all the documents, you need to collect UCO Bank Account Opening Form from any branch of UCO Bank. Fill up UCO Bank Account Opening Form completely and put your signature wherever required. You can also take help of UCO Bank Officials if you have problem in filling up the form. You can also apply for Internet Banking and Mobile Banking through this form. However, you need to activate UCO Bank internet banking and mobile banking separately.

3) Visit the Branch : After you have the duly filled UCO Bank Account Opening form and the necessary KYC Documents, you need to visit the UCO Bank Branch in which you want to open your Bank Account.

4) Verification of Form & Documents : Talk to the Accounts Person or the Branch Manager about the Verification of form and KYC documents for new bank account. You will then be sent the concerned person for verification of form and the documents. Once the verification process is complete, you can proceed to the next step.

5) Submit Minimum Deposit Amount : Submit the minimum deposit amount by filling up the cash voucher by entering the amount as per the bank account you opted for. Example : – Rs.1000 in case of a Regular Savings Bank Account. You need to write New Account in place of your name in the cash deposit voucher.

6) Collect Passbook and ATM Card : Finally, you will be getting your UCO Bank Passbook and ATM-cum-Debit Card with your ATM Pin. Your ATM will take 1-2 days to get activated and your first transaction should be done by using UCO Bank ATM only. If you want a custom ATM Card with your name on it, you need to apply for it separately.

Note : If you have applied of a Cheque Book and/or Internet Banking, then you will be getting your Cheque Book and Internet Banking credentials by post at your registered address.

Good Practices after you get a Bank Account in UCO Bank

1) If you can memorize your Bank Details, PINs and Passwords , it’s a good idea to commit the following information to your memory so that you don’t need to rely on the documents in the future.

2) To make it more safe, Make a note of your Account Number, ATM Card no., PIN etc at a safe and secure location.

3) Save UCO Bank Customer Care Number in your mobile phone.

4) Contact UCO Bank customer care in case of any mishap with your Bank Account or if you have lost ATM card. If you think your account information has fallen into wrong hands, you must call or visit UCO Bank to request to block your account or a particular service on your account to prevent unauthorized use.

Read Also : How to Block UCO Bank ATM Card ?

Things you must know before opening a bank account in UCO Bank

You must know some important things before you apply for a bank account in UCO Bank. You can clear the queries mentioned below at any UCO Bank Branch or by calling UCO Bank Customer Care Numbers.

  • Is there a monthly/quarterly fee for maintaining this Account in UCO Bank ? If so, what is it?
  • Is there a minimum balance that I must keep within this UCO Bank account? If so, what is it? What sorts of fees have to paid if I go under that limit?
  • What is the interest rate of my UCO Bank Account? How often is the interest generated ?
  • Is there any limit to the amount of transactions per month (deposits/withdrawals, ATM uses)?
  • Where all can I withdraw cash without paying any extra fees ?
  • What is the fee for using other than UCO Bank ATM ?

UCO Bank Customer Care Numbers

At any point of time, you need help from UCO Bank Customer Care department, you can reach them on the Toll Free number given below.

Toll Free Numbers : 1800 274 0123

READ ALSO : 

Check Also

How to Close a Bank Account in UCO Bank

How to Close a Bank Account in UCO Bank ?

Close Bank Account in UCO Bank : UCO Bank is a well known bank in India. However, due …

One comment

  1. I want to add my new mobile number , I have lost my old mobile number can I do this on my mobile

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!