No-frills Savings Bank Account Two-way Deposit Scheme Friend-in-Need Scheme Flexible Fixed Deposit Scheme Kuber Yojana Current Account in Foreign Currency at our Indian Branches Special Deposit Scheme for Senior Citizens Revised Minimum Balance Schedule Fixed Deposits in Foreign Currency at our Overseas Branches Features of Deceased Claims Settlement Process related to Deposit Accounts UCO Tax Saver deposit Scheme - 2006 UCO Sowbhagya RD Scheme Account Opening Forms UCO DOUBLE Fixed Deposit Scheme UCO Sunshine Recurring Deposit Scheme UCO Care Current Account UCO Dhan-Varsha Fixed Deposit Scheme

New Deposit Scheme titled "UCO No-frills Savings Bank Account"

In order to include a larger cross-section of the population, who are at the bottom of the pyramid, to avail of the banking services who could not avail of the same on account of some restrictive clauses, namely, minimum initial deposit for opening of the account which is difficult to arrange by such population, maintenance of minimum balance failing which charges are levied etc., it has been felt expedient to introduce a new Savings Deposit Scheme titled "UCO No-frills Savings Bank Account". The salient features of the scheme so designed are as follows :

1. Title of the Scheme - "UCO No-frills Savings Bank Account".
     
2. Initial deposit for opening the account and maintenance of minimum balance - The account can be opened with a minimum initial deposit of Rs.5/-. In case of cheque facility being availed by the account holder, the minimum initial balance should be Rs.250/-. In case of need, the balance in the account may be allowed to go even below the minimum initial deposit and the account may continue even with "Zero" balance.

   Opening of Account under the scheme - The scheme is introduced in all metro, urban, semi-urban and rural categories of branches without making any differentiation with regard to amounts of initial deposit and maintenance of minimum balance as prevailing at present for opening of Savings Bank Accounts.

3. Eligibility for opening "No-frills Savings Bank Account" - The eligibility for opening "No-frills" Account will be the same as that for opening an ordinary Savings Bank Account. Persons above the age 10 and below 18 years and are able to read and write may also open a minor no-frills savings account in his own name or jointly with any other person.
     
4. Restriction of number of withdrawals/debit entries in "No-frills" Account - upto 25 debit entries in a half-year are allowed free in those accounts. In case the debit entries exceed 25 during a half-year, charges will be levied @ Rs.3/- per additional entry during a half-year.
    
5. Charges to be levied -
    
   1. For accounts opened with initial deposits of Rs.250/- for having Cheque Book facility, in case the balance comes down below the initial deposit even upto zero balance, usual charge for non-maintenance of initial deposit shall be levied.
   2. For standing instructions - no charge will be levied.
   3. Collection of cheques and issuance of Demand Drafts/MTs are permitted in those accounts and normal charges are to be levied for those services.
   4. For accounts with cheque book facility, one cheque book of 20 leaves to be provided free of charge in each year. Any additional requirement of cheque leaves during a year will attract a charge of Rs.2/- per cheque leaf.
   5. No incidental and folio charges will be levied in these accounts.
   6. All other charges for services as presently applicable for normal Savings Bank Account are to be levied and recovered.
         
6. Compliance of KYC Guidelines - Simplified KYC procedures for opening of Accounts as advised through Bank's Circular No. CHO/SUA/39/2005-06 dated 29.08.2005 may be adhered to. The salient features of the Circular are mentioned hereunder for ready reference :

   In case, the person concerned who wants to open the account is not able to produce any of the specified documents, required to be verified at the time of opening of account to establish the identity and address of the customer, the account may be opened for those persons subject to compliance of the following :

   1. Introduction from another account holder who has been subjected to full KYC procedure. The introducer's account with the bank should be at least six month old and should show satisfactory transactions. Photographs of the customer who proposes to open the account and also his address need to be certified by the introducer.

      or

   2. Furnishing any other evidence as to the identity and address of the customer to the satisfaction of the bank.

      However, while opening such accounts the customer should be made aware that if at any point of time, the balance in all his/her accounts with the bank (taken together) exceeds Rs.50,000/- or total credits in the accounts exceed Rs.1.00 lakh in a year, no further transaction will be permitted in the account until full KYC procedure in regard to verification of identity and address of the customer through the documents as specified are complied with.

  FRIEND-IN-NEED  SCHEME
         (A FIXED DEPOSIT WITH CHEQUE FACILITY)

This Term Deposit earns high interest and simultaneously offers overdraft facility through a Current Account. Cheque facility is available for withdrawal of money limited to 90% of the deposit. The drawals together with interest can be paid back in instalments, without affecting the growth of the deposit. This unique combination of fixed deposit with cheque facility comes as your true friend in meeting your emergency needs.

  TWO-WAY DEPOSIT SCHEME
         (MAKES YOUR IDLE MONEY GROW)

This deposit scheme is devised to invest the surplus fund that you may keep in your Savings Bank or Current Account. Under the scheme, the surplus fund is invested in short term deposits for 46 days, and then is either paid back or renewed, as desired by you. The deposit earns a high interest while retaining its liquidity. The periodical transactions can be automatic as per your instructions. By making use of your idle money, the scheme provides you an option to meet both your short term and long term requirements.

  KUBER YOJANA
        (A SAFE DEPOSIT TO INCREASE YOUR WEALTH)

A long term fixed deposit scheme. Interest is compounded every quarter by way of reinvestment. Thus the scheme generates a large sum of money at the time of maturity. The scheme meets the need for a safe long term investment.

The Key features of the Scheme are : -

• The minimum amount of deposit is Rs.1000/-
• The minimum period of deposit is 6 months.
• The maximum period of deposit is 120 months.
• Interest is compounded under the scheme at quarterly intervals.
• The total amount of interest is paid at maturity.

  FLEXIBLE FIXED DEPOSIT SCHEME
        (A FIXED DEPOSIT WHOLLY AT YOUR BENEFIT)

Deposits are accepted under reinvestment plan with the difference that a part of the deposit can be prematurely encashed without affecting the remaining portion that continues to earn interest at the agreed rate. Withdrawal is allowed in multiples of Rs.5000/-. It is indeed a matchless scheme to take care of your emergency needs.

SPECIAL DEPOSIT SCHEME FOR SENIOR CITIZEN  

1.1 For all term deposits (domestic/NRE), from Senior Citizens of age 60 years and above, regardless of size of deposits, an additional interest of 0.5 per cent over the normal rate of interest will be payable on maturity periods of one year and above. This will be applicable for fresh term deposits and renewals.  

1.2 Verification of Age: For the purpose of verification of age, at the time of opening a new term deposit account of a Senior Citizen, the branches should satisfy about the age by verifying any of the following documents :-  

1. Secondary School Leaving Certificate indicating date of birth,
2. LIC Policy,
3. Voters Identity Card,
4. Pension Payment Order,
5. Birth Certificate issued by the competent authority,
6. Passport, or
7. Any other document acceptable to the branches.

1.3 Renewal of Accounts of Senior Citizens    

Once the age of a Senior Citizen is verified for accepting a term deposit under this special scheme, bank shall not seek proof of age for renewal of the deposit or for accepting subsequent term deposits from the same depositor under this special scheme.  

1.4 Treatment of Joint Depositors    

For term deposits from Senior Citizens jointly, with other person below the age of sixty years, under this special scheme, it has to be ensured that the name of the Senior Citizen is noted as the first name in the application for such deposits.  

1.5 Automatic Transfer to Nominee    

For this special deposit scheme for Senior Citizens, there will be automatic transfer of deposits to the nominees of such depositors in the event of death of the depositor.  

1.6 Eligibility for Members of Staff  

Branches may pay additional interest to our retired staff members, who are senior citizens on their fresh term deposits and on renewals of existing term deposits as follows:

Period of Deposit	Normal Staff Privilege	As a Senior Citizen	Total extra interest
180 days to less than 3 years	1%	0.25%	1.25%
3 years and above	1%	0.50%	1.50%

There is no restriction in regard to the minimum amount. However, the amount of maximum deposit shall not exceed Rs. 25 lacs per ex-staff member.

Senior Citizens also enjoy the following facilities :-  

(a) Waiver of Penalty for Premature Withdrawal :  For all fresh term deposits and renewals under the Special Deposit Scheme for Senior Citizens, there will be no penal rate for premature withdrawal of term deposits.  However, interest rate applicable in case of premature withdrawal of deposit will be the rate as prevailing at the time of opening the deposit account and as applicable for the period for which the deposit was actually kept with the bank.  

(b) Free Remittance Facility :  All deposit holders under the Special Deposit Scheme for Senior Citizens will be offered free remittance facility up to Rs. 5000/- (Rupees five thousand only) per month i.e. without payment of any commission . However, to avail of this free service, requisite funds to be remitted must be routed through the depositors Current or Savings account.  

(c) Loan Facility :  Depositors under this scheme will be eligible for loans under the UCO Pension Scheme.

For all these attactive deposit schemes, please contact your nearest UCO Bank branch.

CURRENT ACCOUNT IN FOREIGN CURRENCY AT OUR INDIAN BRANCHES

Eligibility 

Resident Individuals only

Type of Account

Current Account only

Interest

The account does not bear any interest.

Currency of the Account

Account may be opened in US Dollars, Great Britain Pound, Euro and Japanese Yen.

Minimum Balance to be maintained

US Dollars	US$ 500/-
GBP	GBP 325/-
Euro	Euro 500/-
Japanese Yen	JPY 60,000/-

Maximum Amount/Balance in the Account

There will be no upper ceiling on the balances held in the account.

Joint Accounts

Joint RFC (D) account can be opened with a resident eligible to open RFC (D) account.

Nomination Facility

Nomination facility is permitted.

Permitted Credits in the Account

Foreign exchange acquired by the Resident Individual:

1. while on a visit to any place outside India by way of payment for services not arising from any business in or anything done in India; or
2. from any person not resident in India and who is on a visit to India, as honorarium or gift or for services rendered or in settlement of any lawful obligation; or
3. by way of honorarium or gift while on a visit to any place outside India; or
4. represents the unspent amount of foreign exchange acquired by him from an authorised person for travel abroad.
5. foreign exchange earned and/or gifts received from close relatives (as defined in the Companies Act) and repatriated to India through normal banking channels by resident individuals. Foreign exchange earnings could be through export of goods and/or services, royalty, honorarium, etc.

Permitted Debits in the Account

Debits to the account shall be for payment towards current/capital account transactions in accordance with the existing foreign exchange regulations only.

Download Application Form

FIXED DEPOSITS IN FOREIGN CURRENCY AT OUR OVERSEAS BRANCHES

Eligibility 

Resident Individuals only

Type of Account

Fixed Deposit Account

Currency of the Account

Account may be opened in US Dollars, Great Britain Pound, Euro and Australian Dollar.

Minimum Amount

US Dollars	US$ 5,000
GBP	GBP 3,000
Euro	Euro 4,000
AUD	AUD 7,000

Interest

Please contact our domestic or overseas branches.

Tenure of Deposits

For the period from one month onwards.

Funds for Opening the Account

Funds can be remitted by Resident Individuals through our ‘A’ & ‘B’ category Indian branches or any other Authorised Dealer in India designated by them for all the remittances under the Scheme in compliance to RBI circular No. A.P. (DIR Series) Circular No. 64 dated February 4, 2004 or as amended from time to time.

Premature withdrawal of deposits

The interest is paid at the rate of half of one percent below the rate for the period for which the deposit has actually remained with the overseas branch, as prevailing on the date of issue/renewal or date of payment, whichever is lower. No interest is paid if the deposit has remained with the overseas branch for less than 30 days.

Loans

No loan is envisaged by RBI under the Scheme.

Local Rules to Apply

All deposits will also be subject to Local Rules in the country of Deposit as prevailing from time to time.

Download Application Form

Mandatory Dsiclosures

Revised Minimum Balance Schedule for deposit accounts(effective from 01.04.2004)

A. Current Deposit Account

Category of depositors	As per location of Branch Office
	Metro	Urban	Semi-urban	Rural
Individual	Rs.3000/-	Rs.3000/-	Rs.2000/-	Rs.1000/-
Others	Rs.5000/-	Rs.5000/-	Rs.2500/-	Rs.2000/-

B. Savings Bank Account
(With cheque book facility)

Individual	Rs.1000/-	Rs.1000/-	Rs.500/-	Rs.250/-
Others	Rs.1500/-	Rs.1500/-	Rs.1000/-	Rs.250/-
Pensioners A/C	Rs.250/-	Rs.100/-	Rs.100/-	Rs.100/-

(Without cheque book facility)

All class of depositors	Rs.500/-	Rs.500/-	Rs.250/-	Rs.100/-
Pensioners A/C	Rs.50/-	Rs.50/-	Rs.50/-	Rs.50/-

UCO No Frill Savings Bank A/c
Minimum initial deposit Rs.5/- (Rs.250/- with cheque book facility)
(A/c will be in operation even with zero balance)

R/D A/Cs
Minimum instalment Rs.50/-

Fixed Deposit A/c
Minimum deposit Rs.1000/-

UCO Tax Saver Deposit Scheme - 2006

UCO Tax Saver Deposit Scheme 2006 is a Term Deposit Scheme with maturity of not less than 5 years subject to lock in period of 5 years.

Who can open the Account -

1. An individual for himself
2. Hindu undivided family ;
3. Jointly by two adults or jointly by an adult and a minor, and payable to either of the holders or to the survivor :

In the case of deposits in joint names, the benefit under section 80C of the Income Tax Act shall be available only to the first holder of the deposit.

Amount of Deposit -

Minimum Rs.100/- and maximum Rs.1 lac in a year (1st April to 31st March).

Period of deposite and payment on maturity -

The period of deposit under the scheme shall be not less than five years.

Rates of interests on Fixed Deposits under the UCO TAX SAVER Scheme, where the deposit has to be essentially kept for a period of 5 years, will be the rate for term deposit for a period of 5 years as under:

	Pre Revised Rate	Revision in Rate w.e.f. 24.04.2012
Category of Deposit	Rate of Interest % pa	Rate of Interest % pa
General	9.25%	8.75%
Sr. Citizen	9.75%	9.25%
Staff/ Ex-staff/ Ex-staff who is also Sr. Citizen	9.75%	9.25%

All branches are advised to take note of the above changes in rates of interest for Domestic Term Deposits up to Rs. 5 Crore effective from 22.8.2011 on all fresh deposits as well as renewal of existing deposits.

Income Tax Benefits -

Deposit under the scheme is eligible for deduction under Section 80C of the Income Tax Act upto a maximum limit of Rs.1 lac (subject to the overall ceiling of Rs.1 lac alongwith other deductions already available under 80C)

Nomination facility- available

Transfer from one branch to another -permitted. Inter bank transfer not allowed.

Loan against the deposit and Pledging of term deposit receipt - Not allowed

Issue of Duplicate Term Deposit Receipt - Duplicate receipts may be issued in accordance with the guidelines in this regard.

Applicability of Income Tax on Interest Income - Interest on these term deposits shall be liable to tax under the Income Tax Act.

Account Opening Forms

Features of Deceased Claims Settlement Process Related to Deposit Accounts

1. Submit prescribed Application Form G-64 (Revised) indicating details of deceased person’s assets and liabilities and family declaration of the deceased (i.e. fill in details from Page-1 to Page-7 of G-64 (Revised) Application Form to the branch.

2. An affidavit to be affirmed by the claimant(s), other legal heir(s) of the deceased to be executed on Non-judicial Stamp Paper of requisite value duly affirmed before a Metropolitan / 1st Class Magistrate or a Notary Public or any authority duly authorized to affirm or to take affidavit on oath as mentioned in Page-8 of G-64 Form.

3. If there is nomination to the Deposit Account, particulars mentioned in Page-18 of G-64 (Revised Form) has to be filled up and submitted to the branch.

4. If the Nominee desires for Settlement of Claims without production of relevant Passbooks / Deposit Certificate / Safe Custody Receipts and Locker Keys etc., than proforma of Indemnity has to be signed by the Nominee and the Indemnities as mentioned in Page-19 of G-64 (Revised) Form on a Stamp Paper of requisite value. This has to be submitted to the branch.

5. If the Settlement of Deceased Claim amount is less than      Rs.2 lac, then Proforma of Application / Indemnity for Settlement of Deceased Claim is mentioned in Page-21 of G-64 (Revised) Form. This has to be submitted to the branch.

6. Settlement of claims in deceased depositor accounts will be only against indemnity furnished by legal heirs. No surety is required upto claim amount of Rs.50,000/-.

7. Claim in accounts with Nomination Facility or Joint Account with operational mandates like E or S, there is no need to furnish indemnity irrespective of claim amount involved.

8. If there is no nomination to the account, then proforma of Indemnity to be executed by claimants, legal heirs, sureties to be executed on non-judicial stamp paper of requisite value is mentioned in Page-12 of G-64 (Revised) Form. This has to be submitted to the branch.

9. Produce attested copy of the death certificate issued by the appropriate authority (produce original death certificate for verification and the same will be returned after verification by the branch).

10. Payment of Settlement of Claim will be made by Pay Order or Credit to account after due verification of records and the field level enquiries by the branch officials as per the extant guidelines of the bank.

11. After submission of all required relevant documents, the time limit for Settlement of Claim is within 15 days from the date of final submission to the branch in case of accounts having nomination facility and 30 days in case of accounts which do not have nomination facility.

For any further details, please contact the Manager / Senior Manager/ Chief Manager at your nearest branch of UCO Bank.

  UCO SUNSHINE RECURRING DEPOSIT SCHEME (Scheme Code - TD 144)

UCO Sunshine Recurring Deposit Scheme with add-on benefits like anywhere banking, standing instructions etc., is designed to give additional facilities to those customers who desire to make a SYSTEMATIC INVESTEMENT PLAN on a monthly basis with higher returns and to accumulate a pre-determined corpus in a specified period.

1. Who can open
1. A person in his/her own name OR
2. Two or more person, in their joint names.
3. By a natural guardian, i.e father or mother on behalf of the minor, by guardian appointed by court.
   
   
2. Age of the Accountholder
1. Minors above 5 years represented by their Parents/Guardians.
2. Resident Indians above 18 years of age and not exceeding 65 years as on date of opening of the accounts.
   
   
3. Pattern of Deposit -
1. Minimum monthly installment Rs. 500/- AND in multiples thereof.
2. Maximum monthly installment amount of Rs. 10 lac.
   
   
4. Period of Deposit
1. Minimum 12 monthly installments, and thereon in the blocks 24 months, 36 months, 48 months and upto 60 months.
   
   
5. Rate of Interest
1. As applicable and linked to normal Term Deposit Scheme.
   
   
6. Nomination
1. The facility of nomination is available for USRDS Accounts.
   
   
7. Privileges for Senior Citizens / Staff / Ex-staff
1. Additional rate of interest (ROI) over and above applicable ROI relevant to Banks Term Deposit.
   
   
8. Loans
1. Loans may be granted subject to a maximum of 90% of the USRDS amount.
2. The minimum amount of loan, shall not be less than Rs. 2500/- and at least 6 monthly installments should have been paid.
   
   
9. Terms & Conditions
1. All other terms & conditions applicable for existing Recurring Deposit Scheme of the Bank are also applicable to USRDS.

  UCO SOWBHAGYA RECURRING DEPOSIT SCHEME (Scheme Code - RDUSS)

The ‘UCO Sowbhagya RD Scheme’ offers all facilities of a Normal Recurring Deposit along with the flexibility of varying monthly installments for a higher yield on maturity.

Details of the product are illustrated as below:-

1. Who can open
1. A person in his/her own name OR
2. Two or more person, in their joint names, who will be the beneficiaries either jointly or anyone or more among them or the survivor or the survivor of them
3. On behalf of a Minor, represented by their Natural Guardians or Guardians appointed by Court.
4. In the names of clubs, societies, associations, educational institutions, trusts, firms, partnerships provided they are registered and joint companies.
   
   
2. Age of the Accountholder
1. RDUSS may be opened by Resident Indians above 18 years of age.
2. In the name of minor singly, provided he/she attained the age of 10 years & can read and write.
   
   
3. Pattern of Deposit
   RDUSS account can be opened as under:-
1. Minimum amount Rs. 100/- in a month and
2. Maximum amount Rs. 10 lac in a month.
3. Thereafter, monthly installment in variable amount but in multiples of Rs. 100/-.
4. Minimum one installment with no limit on number of deposits per month, however, the maximum amount that the depositor can remit in a month shall not exceed Rs. 10 lac.
   
   
4. Period of Deposit –
1. RDUSS Deposits would be accepted for a Minimum period of 12 months and Maximum period of 36 months only.
2. Deposits Period shall be in blocks of either of 12 months, 24 months and upto 36 months only.
   
   
5. Rate of Interest
1. As applicable for normal term deposits of the same tenor.
   
   
6. Privileges for Senior Citizens / Staff / Ex-staff
1. Additional rate of interest (ROI) over and above applicable ROI relevant to Banks Term Deposit.
   
   
7. Loans
1. Loans shall be granted subject to a maximum of 90% of the RDUSS amount deposited and the interest charged by the Bank will be 2% above the deposit rates.
   
   
8. Terms & Conditions
1. All other terms & conditions applicable for existing Recurring Deposit Scheme of the Bank.

  UCO DHAN-VARSHA FIXED DEPOSIT SCHEME

1. Title of the Scheme - UCO Dhan-Varsha Fixed Deposit Scheme
   

2. Period of operation of the Scheme - The scheme would be applicable from May 10th, 2012 and will remain valid up to September 30th, 2013 (extension of the scheme duration revised w.e.f. 03/04/2013).

   However, the Bank would reserve the right to modify, withdraw or extend the scheme anytime without any prior notice.

3. Eligibility to Open Account - Eligible Depositors under the Scheme would be same as eligible depositors in Fixed Deposit Scheme currently available in the Bank.

4. Period of Deposit - 444 days

5. Amount of Deposit - Minimum Amount: Rs. 5000/- and thereafter in multiples of Rs.1000/-.
   
   Maximum Amount: ` 100 lac (revised w.e.f.16/11/2012).

6. Rate of Interest - 9.15% per annum compounded quarterly (revised w.e.f. 16/11/2012).
   
   The quarterly compounding would be done for the first four quarters and simple rate of interest would be paid on the compounded amount after the four quarters for the remaining number of days of the above deposit period.
   
   In addition to the payment of interest along with the principal at the time of maturity, Interest payment (at the option of the customer) is allowed also at quarterly and monthly rests.
   
   Under Monthly Income Plan and in sync to our existing 'Normal Fixed Deposits' under Monthly rests, the interest on such deposits will be paid monthly at discounted rate/s.

7. Premature Withdrawal - In all cases of premature withdrawals, the interest would be payable at 1% below the applicable rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit or present rate, whichever is lower and not at the contractual rate.

8. Loan/Overdraft against the Deposits - Facility for availing loan/overdraft against Deposits under the Scheme would be available as per existing guidelines for availing loan/overdraft against Bank’s own Fixed Deposits.

9. Nomination - The facility of nomination would be available under the Scheme.

10. Payment to Nominee/ Legal Heirs - In the event of the death of the depositor, the deposit would be paid to the nominee/legal heirs as per the existing rules.

11. Automatic Renewals - No auto renewal is permitted under 'UCO Dhan-Varsha Fixed Deposit Scheme'.
    
    However, wherever no specific instructions are received from the depositors. Maturity proceeds will be renewed for a period of 1 year under Banks Normal Term Deposit Scheme.

12. Tax Implications - Tax would be deductible at source as per the prevailing Income Tax rules.

13. Transferability - The deposit is not transferable.

    However, the deposits are transferable from one branch to another branch in the same name(s) would be permissible without any charge and as per the existing Bank’s procedure.

14. Special benefits for Senior Citizen/ Staff / Ex-Staff/Senior Citizen & Ex-Staff - Deposits from these categories of depositors shall be allowed incentive as per the existing norms. Accordingly, the applicable rates for these special categories would be as under:

    Category	Applicable Rate of Interest
    Senior Citizen	9.15% + 0.50 % i.e.9.65%
    Staff Member	9.15% + 1.00% i.e. 10.15%
    Ex-Staff Member
    Ex-Staff & Senior Citizen	9.15% + 1.25% i.e. 10.40%

    
    

    The overall ceiling in amount for Ex-Staff/ Ex-Staff Senior Citizen for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus Rs. 10 lac, as usual.

15. Acceptance of Deposits under the Scheme - Deposits under the Scheme would be accepted only when accruing as a fresh Fixed Deposit for the Bank.
    
    In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charges for premature closure.
    
    However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the Scheme.

16. Applicability of normal Fixed Deposit Rules - Other than the special terms and conditions of the scheme, the deposits under ‘UCO Dhan-Varsha’ would be governed as per the normal Fixed Deposit Rules of the Bank.

  UCO DOUBLE FIXED DEPOSIT SCHEME

1. Title of the Scheme - UCO DOUBLE Fixed Deposit Scheme
   

2. Period of operation of the Scheme - The scheme would be open for the general public from June 1st, 2012 and will remain valid up to September 30th, 2013 (now revised w.e.f. 03/04/2013)
   
   However, the Bank would reserve the right to modify, withdraw or extend the scheme without any prior notice.

3. Eligibility to Open Account - Eligible Depositors under the Scheme would be same as eligible depositors in Fixed Deposit Scheme currently available in the Bank.

4. KYC (Know Your Customers) Norms - KYC Norms for opening account are applicable for these accounts and hence proof of residence and proof of identification will be required along with recent photograph of the depositor/s.

5. Period of Deposit - 94 MONTHS (7 Years And 10 Months)

6. Amount of Deposit

   1. Minimum Amt. : Rs. 5000/- (thereafter in multiples of Rs.1000/-)

   2. Maximum Amt. : Upto Rs. 100 lac

7. Rate of Interest - 9.00% per annum and the interest will be compounded quarterly.

8. Payment of Interest - Interest will be paid only at the time of maturity along with principal with quarterly compounding effect
   
   However, the payment/credit of interest to the account will be subject to TDS as applicable.

9. Premature Withdrawal - In all cases of premature withdrawals, the interest would be payable at 1% below the applicable card rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit and not at the contractual rate.

10. Loan/Overdraft against the Deposits - Facility for availing loan/overdraft against 'UCO DOUBLE' deposit scheme would be available as per existing guidelines for availing loan/overdraft against Bank’s own Fixed Deposits.

11. Nomination - The facility of nomination would be available under the scheme.

12. Payment to Nominee/ Legal Heirs - In the event of the death of the depositor, the deposit would be paid to the nominee/legal heirs as per the existing rules.

13. Participating Branches - All branches of the Bank are authorized to open the 'UCO DOUBLE' deposit accounts under the Scheme.

14. Automatic Renewals - No auto renewal is permitted under 'UCO DOUBLE Fixed Deposit Scheme'.
    
    However, wherever no specific instructions are received from the depositors, the maturity proceeds will be renewed for a period of 1 year under Banks Normal Term Deposit Scheme.

15. Tax Implications - Tax would be deductible at source as per the prevailing Income Tax rules.

16. Transferability - The deposit is not transferable.
    
    However, the deposits are transferable from one branch to another branch in the same name(s) would be permissible without any charge and as per the existing Bank's procedure.

17. Special benefits for Senior Citizen/ Staff / Ex-Staff/Senior Citizen & Ex-Staff - Deposits from under-mentioned categories of depositors shall be allowed incentive as per the existing norms. Accordingly, the applicable rates for these special categories would be as under:

    Category	Applicable Rate of Interest
    Senior Citizen	9.00% + 0.50% i.e. 9.50%
    Staff Member	9.00% + 1.00% i.e. 10.00%
    Ex-Staff Member
    Ex-Staff & Senior Citizen	9.00% + 1.25% i.e. 10.25%

    
    

    The overall ceiling in amount for Ex-Staff/ Ex-Staff Senior Citizen for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus Rs. 10 lac, as usual.

18. Acceptance of Deposits under the Scheme - Deposits under the Scheme would be accepted only when accruing as a fresh Fixed Deposit for the Bank.
    
    In other words, the existing Fixed Deposits cannot be directly renewed under the scheme through a premature extension as usual and the existing Fixed Depositors who wish to convert into the scheme would have to compulsorily take premature payment of their existing deposits and pay the usual penal charges for premature closure.
    
    However, any existing Fixed Deposit maturing during the scheme period would be eligible to enter into the scheme as it would be a fresh deposit for the Bank under the Scheme.

19. Applicability of normal Fixed Deposit Rules - Other than the special terms and conditions of the scheme, the deposits under ‘UCO Double’ would be governed as per the normal Fixed Deposit Rules of the Bank.

  UCO CARE CURRENT ACCOUNT

PART - I - FEATURES OF “UCO CARE CURRENT ACCOUNT”

PART II - FEATURES OF ‘OVERDRAFT FACILITY’ IN CURRENT ACCOUNTS