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UCO Bank Savings Account

UCO Bank offers different types of savings accounts at attractive interest rates. The savings account comes with various features and benefits and can be opened online.

UCO Bank Savings Account Interest Rate

The interest rates offered by UCO Bank on its savings accounts are mentioned below:

Available Balance Rate of Interest
Up to Rs.25 lakh 3.50% p.a.
Above Rs.25 lakh 4.00% p.a.

Savings Account Minimum Balance Requirements

UCO Bank has fixed the minimum balance to be maintained in their Savings Accounts, the details of which are mentioned 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

Opening a UCO Bank Savings Account

If you’re looking at saving and wish to open a Savings Account with the bank, you can now do it without the hassle of long queues and endless forms to fill. You can apply for a new account online. Just go to the bank’s homepage and select the “New Account Opening” tab on the right of the screen. A pop up window will open, and you can select the type of account you wish to open. After entering the details requested and submitting the form online, you will be issued a reference number. You can check the status of your application through the number. After filling in the form, you will have to submit both the form and the required documents to the nearest UCO Bank branch. The bank will verify your documents, after which your account will be active and you can begin saving.

You can also apply offline, by visiting the bank’s branches and collecting an Account Opening Form. After filling and signing the form, submit it to the nearest branch with the requested documents. The bank will verify the documents submitted and notify you when your account is opened so you can begin saving.

Types of UCO Bank Savings Accounts

UCO Saral Savings Deposit Scheme: The main features of the account are mentioned below:

  • A VISA Debit Card is provided at no additional cost.
  • Standing instructions can be provided.
  • 20 cheque leaves are provided in a year at no additional cost.

UCO No-Frills Savings Account: The main features of the account are mentioned below:

  • No minimum balance needs to be maintained.
  • The initial deposit that must be made to open the account is Rs.5.
  • The bank will not levy any folio charges under this account.
  • 20 cheque leaves will be provided in a year for free.

UCO Smart Kids Savings Scheme: The main features of the account are mentioned below:

  • Minors who are more than 10 years old can open an account.
  • No minimum balance needs to be maintained.
  • Nominations can be added to the account.
  • Individuals cannot open a joint account.

Motor Accident Claim Tribunal SB Account (MACTSBA): The main features of the account are mentioned below:

  • KYC norms will be applicable.
  • No minimum balance needs to be maintained.
  • Only one person can operate the account.
  • A passbook will be provided.

Eligibility Criteria of UCO Bank Savings Accounts

A UCO Bank Savings Account can be opened by the following individuals:

  • Individuals above the age of 18 (either a single or joint account)
  • Minors above the age of 10 (only joint account can be opened along with a parent/guardian, unless otherwise specified).

Documents Required to Open a Savings Account

Certain documents must be provided when opening a Savings Account with UCO Bank. These are listed in the Know Your Customer (KYC) guidelines issued by RBI. All banks have to collect the same set of documents for verification purposes. The documents to be collected are listed below:

  • Passport sized photographs
  • Address proof
  • Identity proof

Proof of Address Documents

Any one from the following list of documents can be submitted as proof of address to open an account:

  • Aadhaar card
  • Passport
  • Driving license
  • Bank account statement
  • Utility bills (electricity, telephone)
  • Income tax statement
  • Credit card statement

Proof of identity Documents

Any one from the below list of documents can be submitted as proof of identity to open an account:

  • Passport
  • Voter’s ID card
  • Permanent Account Number (PAN) card
  • Government issued photo ID card
  • Defence card
  • Aadhaar card
  • Driving license


  • In the case of accounts opened in the name of minors and pensioners, proof of age documents such as a birth certificate have to be submitted.
  • In the case of joint accounts, all applicants have to submit the documents specified above.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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