UCO Bank

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About UCO Bank

UCO bank
UCO Bank, previously known as United Commercial Bank, is a leading commercial bank in India. Founded in Kolkata in 1943, UCO Bank is one of the oldest Indian banks as well. It was the eminent Indian industrialist Ghanshyam Das Birla who, during the Quit India Movement of 1942, thought of establishing a commercial bank with Indian capital and management. United Commercial Bank was the outcome of that idea. It, along with 13 others, was nationalized on July 19, 1969. In the year 1985, its name was changed to UCO Bank. Currently, UCO Bank has around 2000 Service Unites spread all across the nation. It also has two overseas branches in Hong Kong and Singapore.
UCO Bank has its presence in all segments of the economy including Industry, Agriculture, Infrastructure Sector, Service Sector and Trade & Commerce. It works towards becoming one of the most trusted and admired financial institution as well as the most sought-after destination for the customers and investors.

UCO Bank has a large number of Service Units (around 2000) located across the nation and overseas. These also include specialized and computerized branches. It also has its Correspondents / Agency arrangements all across the world. UCO Bank also carries out Foreign Exchange Business in more than 50 centers across the nation with 4 Foreign Exchange Dealing Operations centers.

Products and Services of UCO Bank

UCO Bank offers a range of products and services to its customers, which include various deposit schemes, loan schemes, services for the NRIs, international banking etc.

Deposit Schemes

Following deposit schemes are offered by UCO Bank:
  • No-frills Savings Bank Account
  • Money Back Recurring Deposits
  • Friend-in-Need Scheme
  • Two-way Deposit Scheme
  • Lakshmi Yojana
  • Kuber Yojana
  • Flexible Fixed Deposit Scheme
  • Special Deposit Scheme for Senior Citizens
  • Current Account in Foreign Currency at Indian Branches
  • Fixed Deposits in Foreign Currency at Overseas Branches
  • Revised Minimum Balance Schedule
  • UCO Tax Saver deposit Scheme - 2006
  • UCO Premium Plus

NRI Corner

UCO Bank offers a range of services for the NRIs. Following are the services that NRIs can choose from:
  • Deposit Schemes
  • Foreign Currency Non Resident (FCNR-B) Deposits
  • Resident Foreign Currency (RFC) Deposits
  • Non Resident External (NRE) Deposits
  • Non Resident Ordinary (NRO) Deposits
  • Remittance to India
  • Loans to NRIs
  • Against Deposits
  • NRI Home Loans

International Banking

Following international banking services are offered;
  • Products & Services
    • NRI Banking
    • Foreign Currency Loans
    • Finance/Services to Exporters
    • Finance/Services to Importers
    • Remittances
    • Forex & Treasury Services
    • Resident Foreign Currency (Domestic) Deposits
    • Correspondent Banking Services
    • General Banking Services
  • Foreign Currency Loans
  • Finance/Services to Exporters
  • Finance/Services to Importer
  • Remittances
  • Forex & Treasury Services
    • Forex Inter Bank Placements/Borrowings
    • Sale & Purchase of currency on behalf of customers
    • Forward Cover Bookings
    • Cross Currency Swaps
    • Interest Rate Swaps (IRS)
    • Forward Rate Arrangements (FRAs)
    • Forex Money Market Operations
  • Resident Foreign Currency (Domestic) A/Cs
  • Correspondent Banking Services

UCO Bank Loans

UCO Bank is a leading Indian nationalized, commercial bank, with its headquarters at Kolkata. UCO Bank Loans cover a wide category. Term loans, Bank Guarantee, Agricultural working capital financing, loans for services and trade category, Letters of Credit and financing options for the industrial sector are some loans from the UCO bank, to name a few.

UCO Bank Loans include the following.
  • UCO Shelter
  • UCO Car
  • UCO Trader
  • Education Loan
  • UCO Cash
  • UCO Rent
  • UCO Mortgage
  • UCO Securities
  • UCO Real Estate
  • UCO Nari Shakti
  • UCO Shopper
  • UCO Pensioner
  • UCO Emd Loan
  • UCO Swabhiman - Reverse Mortgage Loan Scheme for Senior Citizen
  • Interest Subsidy Scheme for Housing the Urban Poor (ISHUP)

UCO Bank Home Loans

UCO Shelter is a UCO Bank Home Loan. The loan offers reasonable interest rates, which are calculated on the basis of reducing balance. This loan is meant for Indian citizens. The loan can be accessed for buying new flats or houses. Properties thus bought ought to be used for residential purposes only. Subject to some conditions, UCO bank housing loan is also available for buying housing plots for construction of houses.

Apart from repair, renovation and extension of existent structures, the bank also provides finance for purchasing old accommodation. However these structures need not be more than 30 years old and ought to be constructed as per regulations. These buildings also need to be free of tenants.

UCO Bank Car Loans

UCO Car is the car financing scheme from UCO Bank. The bank offers car finance for new as well as used cars. However, the second hand vehicles for which finance is being provided by the bank should not be more than five years old. Second hand vehicles require fitness certificate and valuation certificate for availing UCO bank car financing.

For new cars the loan extended is intended to cover 85% of the vehicle's cost or maximum of `7.50 lacs, which one is lower. Businessmen and professionals are eligible for this UCO bank car loan subject to the fulfillment of set conditions.

UCO Bank Education Loans

UCO Bank Education Loans are available for bright students who wish to pursue studies in certain specific courses in both India and abroad. Under this scheme parents also become co-borrowers along with the dependent student applicant.

Loan applicants need to have secured admission to certified technical or professional or higher or basic educational courses in India or overseas via merit based selection procedure.

The loan sanctioned depends upon the repayment capacity of the applicant. The upper loan ceiling for study in India is `7.50 Lac. The comparable figure for study abroad is `15 Lac.

Contact Address

UCO Bank
International Wing
10, B T M Sarani,
Kolkata - 700 001
Tel: +91-33-2234-1756

Last Updated on May 20, 2015