UCO Bank Account Opening Form | UCO Bank Account Online Open | UCO Bank Account Minimum Balance | UCO Bank Account Charges
UCO Bank provides a variety of savings accounts with competitive interest rates. The savings account, which can be opened online, comes with a variety of features and bonuses. Now from this article, we will be explaining to you details about UCO Bank Account Opening and other things like Minimum Balance Requirement, Eligibility Criteria, etc.
Table of Contents
Interest Rates on UCO Bank Savings Accounts
The following are the interest rates offered by UCO Bank on its savings accounts:
| Available Balance | Rate of Interest |
| Up to Rs.25 lakh | 3.50% p.a. |
| Above Rs.25 lakh | 4.00% p.a. |
UCO Bank Mobile Number Registration
What is UCO Bank Account Opening Process
If you’re thinking about saving and want to open a savings account with the bank, you may now do it without having to wait in long lines or fill out countless papers. You can open a new account by filling out an online application. Simply go to the bank’s webpage and click on the “New Account Opening” option on the right. A pop-up box will appear, allowing you to choose the sort of account you want to create. You will be given a reference number after filling in the relevant information and submitting the form online. The number can be used to verify the status of your application. After filling out the form, take it to your nearest UCO Bank branch and submit it together with the relevant documentation. Your documents will be verified by the bank, following which your account will be activated and you may start saving.
You can also apply offline by picking up an Account Opening Form from one of the bank’s branches. Submit the form, along with the relevant documents, to the nearest branch after filling it out and signing it. When your account is opened, the bank will verify the documents you submitted and contact you so you may start saving.
Minimum Balance Requirements for UCO Bank Account Opening
UCO Bank has established a minimum balance that must be maintained in their Savings Accounts, as shown in the table below:
| Type of Account | Minimum Balance |
| UCO Saral Savings Deposit Scheme | Metro: Rs.1,000 Urban: Rs.1,000 Semi-Urban: Rs.500 Rural: Rs.250 |
| No-Frills Savings Bank Account | Nil |
| UCO Smart Kids Savings Bank Scheme | Nil |
| Motor Accident Claim Tribunal SB Account | Nil |
Types of UCO Bank Savings Accounts
UCO Saral Savings Deposit Scheme
The following are the key aspects of the UCO Saral Savings Deposit Scheme:
- A VISA Debit Card is included at no extra charge.
- It is possible to deliver standing instructions.
- A total of 20 cheque leaves are issued for free each year.
UCO No-Frills Savings Account
The following are the account’s primary features:
- There is no need to maintain a minimum balance.
- To open the account, you must make an Rs.5 initial deposit.
- This account will not be subject to any folio costs from the bank.
- A total of 20 free cheque leaves will be issued each year.
UCO Smart Kids Savings Scheme
The following are the major characteristics of the UCO Smart Kids Savings Scheme:
- Accounts can be opened by minors above the age of ten.
- There is no need to maintain a minimum balance.
- It is possible to add nominations to the account.
- Individuals are not permitted to open a joint account.
MACTSBA (Motor Accident Claim Tribunal SB Account)
The following are the account’s primary features:
- KYC requirements will be enforced.
- There is no need to maintain a minimum balance.
- The account can only be operated by one individual.
- There will be a passbook available.
UCO Bank Savings Account Opening Eligibility Criteria
Individuals that can open a UCO Bank Savings Account include:
- Individuals over the age of eighteen (either a single or joint account)
- Minors over the age of ten (unless otherwise noted, only a joint account with a parent or guardian can be formed).
Required Documents for UCO Bank Account Opening
When creating a Savings Account with UCO Bank, you must furnish certain papers. These are outlined in the RBI’s Know Your Customer (KYC) requirements. For verification purposes, all banks must collect the same set of documents. The following are the documents that must be collected:
- Photographs the size of a passport
- Proof of address
- Proof of your identity
Proof of Address Documents
To open an account, you can submit any of the following documents as proof of address:
- Aadhaar card
- Passport
- Driving license
- Bank account statement
- Utility bills (electricity, telephone)
- Income tax statement
- Credit card statement
Proof of Identity Documents
To open an account, any of the following documents can be used as proof of identity:
- Passport
- A voter’s ID card is a document that identifies a person as
- PAN card (Permanent Account Number)
- Defense card is a government-issued photo ID card.
- Aadhaar card and a valid driver’s licence
Note:
Proof of age documents, such as a birth certificate, is required for accounts created in the names of minors and pensioners.
When applying for a joint account, all applicants must present the above-mentioned documentation.