UCO Bank Savings Account

What is a UCO Bank Savings Account

UCO Bank Savings Account enables investors to save their hard-earned money. It provides simple banking services like debit cards, internet banking and mobile banking. The sweep-in FD is another facility available in the account. This automatically transfers additional balance into a fixed deposit to receive better returns according to UCO Bank FD interest rates, and the balance remains available.

UCO Bank Savings Account Interest Rates

The following table outlines the savings account interest rates applicable to UCO Bank customers:

*UCO Bank Savings Account interest rates w.e.f. 23-06-2025.

Types of UCO Bank Savings Accounts

Here is a breakdown of the various types of savings accounts available:

1. UCO GIG Account

    UCO GIG is a UCO Bank zero balance savings account that targets gig workers and self-employed individuals. It provides convenient banking in addition to easy access to digital banking services.

2. UCO Tierised Savings Account

    This account provides tierised benefits with regard to the balance held. It comes in three types: Unique, Royal and Privilege. All have various banking benefits and services depending on the balance level.

3. UCO Asha Pension Account

    The UCO Asha Pension account is offered to the pensioners to enable them to receive pension credits in their account. Individual retirees receiving an ongoing pension can open a zero balance pension account with UCO Bank.

4. Salary Account Package for Central Government Employees (SAPCG)

   This savings account is designed specifically for central government employees. It provides salary credit facilities along with various banking benefits.

5. UCO Suvidha Salary Account (UCSSA)

   The UCO Suvidha Salary Account is offered to salaried employees whose organisations maintain salary arrangements with UCO Bank. It usually comes with a zero balance facility and digital banking features.

6. UCO General Savings Scheme

   This is the standard savings account suitable for individuals who want basic banking services such as ATM access, cheque book facilities, and online banking.

7. Zero Balance Scheme

   The zero balance savings account allows customers to open and maintain an account without a minimum balance while still enjoying essential banking services.

8. UCO Rising Star Account

   The UCO Rising Star account is for children and young customers. It promotes saving culture but provides simple banking services under the control of guardians.

9. UCO Aparajita Account

    This savings account may be regarded as one of the best savings accounts for women. It provides women customers with customised banking services and benefits depending on their financial needs.

10. Basic Savings Bank Deposit (BSBD) Account

     This account promotes financial inclusion by helping people open a savings account with no minimum balance and access basic banking services.

Key Features of UCO Bank Savings Account

The following are the key features of a savings account in UCO Banks: 

• Interest on Savings: Customers receive interest on the balance in their savings account. This interest will be calculated daily and credited quarterly. This gives customers an opportunity to accumulate savings over time.
• Debit Card and ATM Access: The account holders receive a debit card that allows them to withdraw cash at an ATM and use it in stores.
• Digital Banking Products: Customers can access internet banking and mobile banking so as to transfer funds, monitor their balances, and settle their bills whenever they want.
• Sweep-in FD Facility: The savings account can have a UCO Bank sweep in FD facility, wherein excess amount above a given limit will automatically be transferred to a fixed deposit.

How to Open a UCO Bank Savings Account

You can open a UCO Bank savings account either online or by visiting a bank branch.

Online Application

It is easy and fast to open an account online. Follow these steps:

• Visit Website/App: Visit the UCO Bank mobile banking webpage.
• Check Eligibility: Confirm that you are eligible to open a savings account.
• Fill Application: Use personal information in the online application form.
• Upload Documents: Upload necessary documents, such as Aadhaar, PAN and photographs.
• Full KYC Verification: Fulfil the verification operation as advised by the bank.
• Account Activation: After ensuring that the account is valid, the bank activates the account.

Offline Application

Customers can also open an account in person at a bank branch.

• Branch Visit: Visit the nearest UCO Bank.
• Check Eligibility: Ensure you are eligible to open the account.
• Collect Application Form: Take the savings account opening form from the bank staff.
• Fill Application Form: Select the required personal information in the form.
• Show Documents: Submit identity evidence, address evidence, and passport-sized photographs.
• Verification and Activation: The bank verifies the documents and activates your savings account once approved.

Key Takeaways

UCO Bank savings accounts provide a reliable way to manage and grow personal savings. Customers generally earn interest of around 2.50% p.a., calculated on the daily balance and credited quarterly. The account also offers features such as the UCO Bank sweep-in FD facility. This feature allows surplus funds to earn higher returns based on FD interest rates while keeping the money easily accessible.