UCO Double Fixed Deposit Scheme

The Bank will be launching a new term deposit product titled ‘UCO Double Fixed Deposit Scheme’ from June 1st, 2012 at all our branches across the country.

* ‘UCO Double’ Fixed Deposit offers a higher interest rate of 9.35% per annum assuring the depositor to double the principal amount in 90 months / 7 years and 6 months.

 *‘UCO Double’ would be open for a limited duration beginning from June 1st, 2012 and upto September 30th, 2012.

 *The minimum amount of deposit under ‘UCO Double’ would be ` 5000/- and thereafter in multiples of ` 1000/- with a maximum amount of ` 1 crore.

*Special incentive rate for Senior Citizen, Staff/Ex-Staff and Ex-Staff & Senior Citizens.

We give below the key features of UCO Double Fixed Deposit Scheme as under:

Deposit Duration : 90 months (7 years and 6 months)

Rate of Interest : 9.35%

Senior Citizen : 9.85 % (additional 50 basis point)

Staff Members : 10.35 % (additional 100 basis point)

Staff & Senior Citizen : 10.85 % (additional 150 basis point)

Minimum Amount : 5000/- and thereof in multiples of 1000/-.

Maximum Amount : Upto   1 crore

Launch Date of the Scheme : June 1st, 2012.

Scheme closes on : September 30th, 2012

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, 2012.

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:

90 MONTHS (7 Years And 6 Months)

6. Amount of Deposit:

a) Minimum Amount:

:- ` 5000/- (thereafter in multiples of ` 1000/-)

b) Maximum Amount

:- Upto ` 100 lac

7. Rate of Interest 9.35% 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 would be authorized to open the ‘UCO DOUBLE’ deposit accounts under the Scheme.

14. Application Form:

The existing Application Form for Fixed Deposits is to be used for accepting deposits under the Scheme.

The branches shall invariably take an undertaking from customers stating that “I have read, understood and accepted the terms and conditions of the UCO DOUBLE Fixed Deposit Scheme”.

15. Issue of Term Deposit Receipt:

The branch under the Scheme shall issue a fixed deposit receipt for the deposit amount received on our usual form for the Fixed Deposit Receipt.

16. 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.

17. Tax Implications:

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

18. 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.

19. 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.

20. 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.

21. Applicability of normal Fixed Deposit Rules:

Other than the special terms and conditions of the scheme, the deposits under the scheme would be governed as per the normal Fixed Deposit Rules of the Bank.

FAQ of mBanking

1. What is UCO Mobile Banking?

UCO Mobile Banking is a service offered by UCO Bank to its customers that allows you to avail selected banking services via your mobile phone without making a call, using SMS facility.

2. Whether Mobile Banking Service is available to all customers?

This service has been implemented uniformly in all CBS branches across the country. Hence, it is available to customers of all CBS branches.

3. How does it work?

Mobile Banking service works on ‘Short Messaging Service’ (SMS) that is available on mobile phone. This facility allows you to send a SMS using your mobile phone to a specific number provided by UCO Bank. All you need to do is to type out a short text message using ‘Key Words’ assigned by the Bank for various activities and send the message (SMS) to 56161. The system generated response will come to you as SMS on your mobile phone. All within a few seconds.  

This message travels from your mobile phone to the SMS Centre of Cellular Service Provider, and from there it travels to the Bank’s systems. The information is retrieved and a system generated response is sent back to your mobile phone via SMS Centre within few seconds. This twin activity of sending SMS to 56161 and getting a system generated response constitute one PULL Request.

4. What are the eligibility criteria?

You need to have a mobile phone connection in your name, and You also need to have a SB/Current/Fixed Deposit  Account with any CBS branch of UCO Bank.

5. How can I avail this facility?

You need to visit UCO Bank’s branch with which you maintain the account. Fill in the prescribed application form and submit the same to the branch.

If you are a customer already registered under UCO e-Banking, you can set your own password for Mobile Banking service after you get a confirmation that Mobile Banking service is enabled for you. You can also subscribe to various alerts facility after logging into UCO e-Banking.

If you are not registered under UCO e-Banking, you will get a password for Mobile Banking services that you need to collect from the Branch.

6. How can I get Application Form for mobile Banking?

Application forms can be downloaded from UCO Bank’s website www.ucobank.com. (After logging into website, click on e-banking link and then Mobile Banking Services.)

7. What are the charges for availing the facility?

There are no charges for availing this facility. This service is provided to you FREE from UCO Bank. However, the Cellular Phone Service Provider may levy a nominal value added services charge for the SMS facility in case of PULL request when you send SMS to 56161.

8. What transactions can I carry out from my Mobile phone using UCO Mobile Banking Service?

The following transactions are presently available:

Balance Inquiry of all accounts linked to your Customer ID

Details of last three transactions

Cheque status enquiry

Account statement request

Change of SMS password

Suspending from Mobile Banking service

Sending message to Branch Manager of the Bank

9. Is there a PIN number?

Yes, there is mPIN number (Mobile PIN). It is 4 digit secret PIN number that allows  you to carry out information based transactions using your mobile phone. Customers already registered under UCO eBanking service may set their own mPIN once Mobile Banking Service is activated for them.

mPIN for the customers who are not registered under UCO eBanking will be generated by Head Office  e-Banking Cell which can be collected from your branch.

10. Is email address necessary?

It is desirable but not necessary.

11. If I do a balance Inquiry, will it be counted as one message or two?

It will be counted as two messages. Sending your request to 56161 is one message and getting back a system generated response to your mobile phone is another.

12. What if my mobile phone is lost?

If your mobile phone is lost, you must inform the branch. Your mobile banking facility shall be disabled.

13. What if I change my mobile number?

You have to send a written request to the Bank through your branch. Your mobile number will be changed

14. Can I avail of this service from outside my city of registration or telecom circle?

Yes, provided you have national roaming facility in your mobile phone from the Cellular service Provider. However, you can not avail of this service while travelling outside India.

UCO Sowbhagya

* A new RD product-scheme titled ‘UCO Sowbhagya Recurring Deposit Scheme (RDUSS)’ –with VARIABLE monthly payment facility.

*‘UCO Sowbhagya Scheme’ offers all features of a Normal Recurring Deposit scheme with flexibility of varying monthly instalments.

* Period of Deposit - Minimum 12 months & Maximum period of Deposit 36 months only.

*Pattern of Deposit - Minimum amount 100/- and Maximum 10 lac in a month.

*Target segment- Business class segment and working population.

*Launch Date - ‘UCO Sowbhagya Recurring Deposit Scheme’ shall be launched at all Bank branches on February 29th, 2012.

In order to cater to the needs/requirement of every section of the society, it was felt that the Bank must also have a Recurring Deposit scheme with VARIABLE monthly installment facility for the prospective depositor’s, especially, for the Business Class segment and the working population whose monthly income is not fixed.

The new RD product titled- ‘UCO Sowbhagya Recurring Deposit Scheme’ offers all the features of a Normal Recurring Deposit with the flexibility of varying ones monthly installments. At the end of the maturity period, the customer shall receive the maturity amount representing the installment amount paid together with interest thereon.

The Scheme - UCO Sowbhagya Recurring Deposit Scheme (RDUSS)

1. Type of Account : Recurring Term Deposit Account

2. Who can open:

a) A person in his/her own name OR

b) 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

c) On behalf of a Minor, represented by their Natural Guardians or Guardians appointed by Court.

d) In the names of clubs, societies, associations, educational institutions, trusts, firms, partnerships provided they are registered and joint companies.

3. Available at: All CBS Bank Branches across India

4. Age of the Accountholder:

a) RDUSS may be opened by Resident Indians above 18 years of age.

b) In the name of minor singly, provided he/she attained the age of 10 years & can read and write.

5. Pattern of Deposit:

a) RDUSS account can be opened as under:-

Minimum amount ` 100/- in a month and Maximum amount ` 10 lac in a month.

b) Thereafter, monthly installment in variable amount but in multiples of ` 100/-.

c) 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 ` 10 lac.

6. Period of Deposit:

a) RDUSS Deposits would be accepted for a Minimum period of 12 months and Maximum period of 36 months only.

b) Deposits Period shall be in blocks of- 12 months, 24 months and upto 36 months.

Special Features embedded in RDUSS SN Particulars Features

1. Banks Inter Sol Charges (via Transfer or Cash Deposit):

Free Transactions - Intra-Bank/ Intra-city fund transfer charges/cash deposit for the credit of self RDUSS Account.

2. Standing Instructions (SI):

Free - Transfer of funds through SI from Current or Savings Bank Account to self RDUSS Account every month towards payment of monthly installments.

3. Transfer of Account:

Free - Transfer of RDUSS Account between our wide network of branches without any charges.

 Brief Operational Guidelines SN Particulars Features

1. Mode of Remittance – Monthly Installments

a) The remittance made across the counter for credit of a RDUSS account to be accompanied by the prescribed pay-in-slip supplied by the Bank.

b) The depositor may remit the installments Intra-Bank and Inter-city Bank branches to his RDUSS Account.

2. Rate of Interest:

As applicable and interest linked to bucket-size less than ` 15 lac of Normal Term Deposit Scheme and calculated on a daily product basis and compounded quarterly.

3. Payment of Installments - Preconditions

a) One month default, no penalty, however, if no amount is deposited during the second month & onwards, the installments should be deemed to have fallen in arrears, the Bank shall impose a penalty of ` 50/- for each month of default.

b) Penalty shall not be levied if installments are in default intermittently for more than one month provided the default is not for two consecutive months.

4. Foreclosure:

a) If a depositor desires to close the RDUSS Account prematurely, or the account is discontinued and installments cease to be remitted for continuous period of 6 months, for any reason, the amount of installments already paid will be repaid in one lump-sum along with interest for installments deposited with rate applicable on Term Deposit slab of less than ` 15 lac with penalty clause for the period run.

b) In case of premature closure of RDUSS before 12 months of its opening, an additional service charge of ` 50/- will be collected from the accountholder.

5. Pass-book:

To differentiate this new product from the Normal Recurring Deposit Scheme & UCO Sunshine Scheme, the Bank shall print new RDUSS Passbook for the prospective customers

6. Privileges for Senior Citizens / Staff / Ex-staff:

These categories of accountholders will be eligible for additional rate of interest (ROI) over and above applicable ROI relevant to Banks Term Deposit. 12 months and above and upto 36 months

a. Senior Citizen Account : 0.50 %

b. Staff /Ex-Staff Account : 1.00 % (all terms)

c. Ex-Staff and Senior Citizen Account : 1.25 %

(term 12 months to < 36 months)

d. Ex-Staff and Senior Citizen Account : 1.50 %

(term 36 months and above)

7. Date of Maturity:

30 days after the last amount deposited in the final month.

8. Loans: Loans shall be granted subject to a maximum of 90% of the RDUSS amount and the interest charged by the Bank will be 2% above the applicable rates.

9. Nomination:

The facility of nomination is available for RDUSS Accounts.

10. Payment of Maturity Proceeds:

Payment of maturity proceeds to customer(s) in his sole name or jointly with others, shall be made by way of Account Payee crossed Pay Order/Demand Draft or by way of credit to the Savings Bank or Current Account of the depositor(s).

11. Power to Amend Rules:

The Bank reserves the right to alter the rules from time to time, as circumstances demand.

12. Other Terms and Conditions:

As applicable for existing Recurring Deposit scheme of the Bank shall be applicable to UCO Sowbhagya Accounts also.

Notice:

“The Bank would not be required to deduct taxes on the interest payable on recurring deposit in the light of Section 194(A) (3) (vii) read with explanation 1 to Section 194A of the Income Tax Act”.

The gist of Section 194A of the Income Tax Act 1961 which contains provision for deduction of tax on any interest paid other than interest on securities is illustrated below : –

1. Clause (3) to Section 194A contain specific categories of interest payments on which taxes are not required to be withheld under Section 194A(1) of the IT Act. Sub-clause (vii) of Section 194A(3) states that taxes are not required to be withheld on such income credited or paid in respect of deposits other than time deposits with a banking company to which the Banking Regulation Act, 1949 applies.

2. Explanation 1 to Section 194A defines the term ‘time deposits’ as deposits (excluding recurring deposits) repayable on the expiry of fixed periods. The deposits collected under the ‘UCO Sowbhagya Recurring Deposit Scheme’ would be in the nature of ‘recurring deposits’ for the purposes of Income Tax Act, 1961 and as such no tax shall be deducted at source on the interest earned/payable.

10 Points of mBanking

1. 10 POINTS OF SMS/m BANKING

   The alerts will be sent to the customers only if the customer is within the cellular circle of the CSP or in circles forming part of the roaming GSM network agreement between such CSPs.

2. The customer acknowledges that to receive alerts, his mobile phone number must be active and accessible.

3. UCO Bank shall not be held responsible for the confidentiality, secrecy and security of the personal or Account information being sent through the SMS facility.

4. UCO Bank will not be liable for Loss of any information / instructions / alerts in transmission.

5.  UCO Bank shall not be concerned with any dispute that may arise between the customer, the CSP and any other party and makes no representation or gives no warranty with respect to the quality of the service provided by the CSP or guarantee for timely delivery or accuracy of the contents of each alert.

6. UCO Bank shall not be held liable in the event that the mobile phone company / mobile phone service provider fails, for any reason whatsoever, to reload the prepaid airtime of the customer.

7. The customer agrees that any complaint in connection with the reload service shall be referred to and addressed by the mobile phone company / service provider.

8. UCO Bank may, at its discretion, withdraw temporarily or terminate the facility, either wholly or in part, at any time.

9. UCO Bank may, without prior notice suspend temporarily the facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which requires the temporary suspension of the facility.

10.  YOU are requested to co operate us and to use different alternative channels of our services.

THANKS!!

UCO Bank's Performance Highlights

PRESS RELEASE Kolkata

05 May 2012

Global business crosses Rs.2.71 lac crore
Net Profit for FY2011-12 surges 22.3% YoY to reach Rs.1109 crore

• Global Business of the Bank registered a YoY growth of 10.44% during the FY’12 to reach Rs. 2, 71,508 crore as on 31.03.2012 (Rs. 2, 45,839 crore as on 31.03.2011).
• The total deposit of the bank rose by 6.01% YoY to reach Rs. 1, 54,003 crore as on 31.03.2012 (Rs. 1,45,278 crore as on 31.03.2011).
• The advances of the bank rose sharply by 16.85% to reach Rs. 1,17,504 crores on 31.03.2012 as against Rs. 1,00,561 crore on 31.03.2011.

PERFORMANCE : Q4 FY’12 versus Q4 FY’11

•        Operating profit of the bank during Q4 FY’12 surged 25.30% to reach Rs. 728 crores (Rs. 581 crore).

•        Net profit rose by 11.45% to reach Rs. 253 crores in Q4 FY’12  as against Rs. 227 crores in corresponding period last year.

•        Profit for the qtr  would have been more but for higher NPA provision of Rs. 379 crore in Q4FY’12 against Rs.94 crore in Q4FY’11 and 28% increase in employee benefit during Q4 FY’12 to Rs. 169 crore (Rs. 132 crore).

•        Net Interest Income rose sharply by 24.40% (QoQ) to Rs. 1050 crores in Q4 FY’12 against Rs. 844 crores in the same period previous  year.

•        During the quarter Net Interest Margin(annualized) reached 2.71% (2.35%).

•        Average Cost of deposit (annualized) during Q4 FY’12 stood at 7.47% against 6.34% in Q4 FY11, i.e. an increase by 113 bps.

Average Yield on Advances during Q4 FY’12 was 11.30% against 9.86% in Q4 FY11. i.e. an increase by 144 bps.

PERFORMANCE : FY’12 versus  FY’11

•        Operating profit of the bank during FY’12 rose by 4.32% YoY to reach     Rs. 2,811 crores (Rs. 2,695 crore).

•        Net profit rose sharply by 22.30% to reach Rs. 1,109 crores in FY’12 as against  Rs. 907 crores in FY11.

•        Net Interest Income moved up by 1.49% to Rs. 3902 crores in FY’12 against Rs. 3,845 crores in FY’11.

•        The Cost to Income ratio came down to 42.24% during the current financial year from 43.51% last year.

•        Average Cost of deposit for FY’12 stood at 7.30% against 5.74% in FY11.

•        Average Yield on Advances during FY’12 was 11.28% against 10.00% in FY11.

•        Our CASA deposit rose 7% YoY to reach Rs. 33,867 crores as on 31.03.2012 (Rs. 31,652 crores). The share of CASA percentage against domestic deposit stood at 23.85% in March’12 against 23.20% in March’11.

•        Credit Deposit Ratio stood at 76.30 % as on Mar’12 against 69.22% as on Mar’11.

•        Global Net Interest Margin (annualized) was 2.77% during FY’12. The domestic  NIM stood at 2.95%.

•        GNPA ratio stood at 3.48 % on 31.03.12 against 3.13% on 31.03.11. However GNPA stood at 3.50% as on June’11, 3.64% as on Sept’11 and 3.49% as on Dec’11. Thus, after reaching 3.64% in Sep’11, it has now come down to 3.48%.

•        NNPA ratio stood at 1.96% on 31.03.12 against 1.84% on 31.03.11. However NNPA stood at 2.15% as on June’11, 2.11% as on Sept’11 and 2.04% as on Dec’11. Thus, after reaching 2.15% in Jun’11, it has now come down to 1.96%.

•        Book value of share (annualized) has reached Rs.94.72 on 31.3.12 from Rs. 83.16 as on 31.03.11 registering YoY growth of 13.90%.

•        Earning per share (annualized) improved to Rs. 15.02 on 31.03.12. from Rs. 14.29 on 31.3.11 registering YoY growth of 5.11%.

•        CAR of the bank was comfortable at 12.35 % under BASEL-II (Tier-I Capital: 8.09%; Tier-II Capital: 4.26%).

Other income rose by 4.43 % to reach Rs. 966 crore for the FY’12 against Rs. 925 crore in FY’11. Profit on sale of investments during FY’12 at Rs. 196 crore improved by 115% over last year which was Rs. 91 crore.

MAJOR INITIATIVES

Technology Initiatives

•        Online payment of Custom Duty has been implemented for e-Banking users.

•        Facility of PPF deposits at any authorized branch anywhere in India implemented.

•        All RRB Branches are on CBS platform and NEFT/RTGS enabled.

•        Central Electronic Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI)  facility made available to branches.

Financial Inclusion  Initiatives

•        1.20 lacs accounts opened through ICT based FI project & 45,000 Smart Cards issued so far to beneficiaries.

•        Opened 62 Ultra Small branches with CBS connectivity.

Business Development Initiatives

Major Process Changes:

•        130 Branches opened in Q4FY’12 taking total branches opened in FY’12 to  188.

•        Opened 13 new Retail Loan Hubs taking the total RLHs to 39.

•        Opened 4 new City Back Offices during FY 2011-12 taking total CBOs  to 76 that cover 867 branches of the Bank

•        Opened 12 SME Loan Hubs during FY 2011-12

Organizational Changes:

•        2 new Circle Offices opened at Patna & Guwahati taking the total to 10.

•        5 new Zonal Offices opened taking the total to 40.

New Liability Products introduced:

•        UCO Vasantha Bonanza – Term Deposit for 100 days @ 9%

•        UCO Sowbhagya Scheme – A variable RD Scheme

•        UCO Suvidha Salary Account – Introduced at all Zones

New Asset Products introduced:

•        UCO Gold Loan Scheme – for financing Retail Asset Product under both Priority & Non-Priority Sectors

Customer Centric Initiatives

•        To boost Retail business, interest rates were reduced on UCO Home and Car loans.

•        Acquired 5.47 lacs CASA Customers in Q4’12 taking the total number of CASA customers acquired in FY’12 to 18.53 lacs.

•        114 ATMs installed in Q4 FY’12 taking the total for FY’12 to 256.

•        VISA Debit Cards issued in Q4 FY’12 was 1.56 lacs and during the whole FY’12  5.62 lacs.

•        Launched Personalized UCO Visa Debit Card – Gold, Platinum & Signature.

•        Permission to open ECCS Clearing Centre at Mecheda received from RBI.

•        E-payment of State Govt. taxes implemented for Maharashtra, UP and West Bengal

•        Payment of Salary of WB. Govt. employees through ECS implemented

•        Registration for New Pension Scheme obtained from Pension Fund Regulatory and Development Authority

•        2568 recovery camps organized in Q4FY12 taking total for the year to 7117.

Socio-economic Initiatives

•        8 Agri Credit Camps organized in Q4FY12 taking total such camps to 20 in the FY.

•        MOU signed with National Collateral Management Services Ltd. for financing Farmers against their Storage Receipts

•        New Scheme for Financing Arthias introduced for increasing lending under Indirect Finance to Agriculture.

HR Initiatives

During the Financial year 755 officers comprising MBAs, IT officers and  probationary officers were recruited. 866 clerks were also recruited during the financial year. 

THINKS!!!!

‘UCO DHAN-VARSHA’

A limited duration Fixed Deposit Scheme providing benefits of high returns on a fixed deposit period of 444 days has been introduced by the Bank. The scheme would be effective from May 10th, 2012 and remain valid up to June 30th, 2012 and would carry an interest of 9.25% per annum with special incentive for Senior Citizens/Staff/Ex-Staff/Senior Citizens & Ex-Staff, as usual. The minimum amount of deposit under the Scheme would be Rs. 5000/-and thereafter in multiples of Rs.1000/- with a maximum amount of Rs.1 crore.

Salient features of the new fixed deposit scheme ‘UCO DHAN-VARSHA’ are as under:

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 June 30th, 2012. 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: ` 5000/- and thereafter in multiples of `1000/-. Maximum Amount: ` 1crore.

6. Rate of Interest 9.25% per annum compounded quarterly.

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 rests.

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.

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. Participating Branches: All branches of the Bank would be authorized to open the Deposit Accounts under the Scheme.

12. Application Form:

The existing Application Form for Fixed Deposits is to be used for accepting deposits under the Scheme.

The branches shall invariably take an undertaking from customers stating that “I have read, understood and accept the terms and conditions of the UCO Dhan-Varsha Fixed Deposit Scheme”.

13. Issue of Term Deposit Receipt:

The branch shall issue a Deposit Receipt for the deposit received under the Scheme on our usual form for the Fixed Deposit Receipt.

A Rubber Stamp stating “Issued under UCO Dhan-Varsha Fixed Deposit Scheme” is to be invariably affixed by branches.

14. 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.

15. Tax Implications:

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

16. Transferability:

Transfer of Fixed Deposit under the Scheme within any branch of the Bank would be permissible without any charge as per the existing procedure.

17. 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:

Senior Citizen : Additional 0.50% or @ 9.75%

Staff : Additional 1.00% or @ 10.25%

Ex-Staff : Additional 1.00% or @ 10.25%

Ex-Staff Sr. Citizen : Additional 1.25% or @ 10.50%

The overall amount ceiling for Ex-Staff/ Ex-Staff Senior Citizen for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus `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 the scheme would be governed as per the normal Fixed Deposit Rules of the Bank.

THANKS!!!

Frequently Asked Questions : UCO e-Banking

What is UCO Internet Banking Service?

You can access various services of UCO Bank at anytime, anywhere and from anyplace provided you have access to an Internet Connection. Having registered with us, we are with you wherever you are and at any point of time. You have online, real time access for different services provided under a completely secure environment, using 128-bit encryption Secure Socket Layer (SSL).

Why UCO Internet Banking Service?

UCO Internet Banking Service opens up an entirely new way of doing your banking, anytime and from anywhere in the country 24 hours a day, 365 days a year right from the comfort of your home or office through internet. It is personalized to meet your requirements. It's fast and convenient with no special software requirement. Our wide range of online banking services will help you better manage your finance. Moreover, we will progressively add more services for your convenience.

Who can use UCO Internet Banking Service?

UCO Internet Banking Service is available to all the customers of CBS branches of UCO Bank, who are resident Customers holding accounts either single or with a joint operating mandate. Joint account holders will not be permitted to do all financial transactions on Internet Banking. However, in case of joint accounts with operating mandate "Either or Survivor" both the holders can be allowed to view and transact subject to submission of application with joint signatures. Our UCO Internet Banking Service is also available to the customers of non CBS branches of our bank with certain limited options.

Disclaimer: UCO Bank reserves the right to offer UCO Internet Banking Service to selected customers at its discretion and at such limited locations as may be specified by the Bank from time to time.

How Secure is UCO Internet Banking Service?

Security: The Bank maintains the highest of standards as far as security technology is concerned, some of which are: 128 bit SSL encryption - This is the highest level of security available for communication and transactions on the Internet. SSL encryption allows the Bank to encrypt information, so that when it travels through the internet, it is encrypted and cannot be accessed by anyone. SSL also ensures that information is sent to the correct place and that it is not tampered with.

What do I need to use the services?

You need a PC with minimum PII processor, 32 MB RAM with Microsoft(r) Internet Explorer 5.5+ and Netscape(r) Navigator 4.5+ with a resolution of 800*600 or more...

What If I do not have a PC?

No problem. You can access it from any computer having Internet connectivity.

Is it safe to login from Cyber Cafe?

Yes, provided you do not disclose your passwords to anyone and logout properly. We recommend you to clear the browser cache after each session so that your account information is removed from such PCs.

Do I have to pay for using this service?

No! There is no extra charge for using this service. This service is absolutely free.

How do I get access to Internet Banking Services?

You need to have an account at any of our UCO Bank branch. Then you need to register for the Internet Banking Services with the branch by filling the application form.

Note: Please note that services will differ for customer of CBS (Core Banking Solution) and Non CBS (Core Banking Solution) branches.

What if, I do not have an account with UCO Bank?

We shall be glad to have your account with us. Walk in to any one of our branches, our staff will assist you.

How do I get User-Id and password for the Internet Banking Services?

User Id and Passwords can be sent to the address specified in the application form. However, to ensure the security and safety, we recommend you to please collect your User Id and password from your branch.

I am a UCO Bank customer but do not have account at a CBS branch. What shall I do to avail Internet Banking Services?

Our UCO Internet Banking Service is also available to the customers of non CBS branches of our bank with certain limited options. However, we suggest either opening an account at any of our CBS branches or asking for transfer of your existing account from your branch to a CBS branch to access the full functionality of UCO Internet Banking Service.

I want to register for Internet Banking Services. What do I do?

Kindly download the application form, fill in the details and submit it to your branch. Alternatively you may call on at any of our branch, and our staff will assist you.

Why are the Passwords so cryptic?

The machine generates passwords for your first time access randomly and we have no control over it. It is mandatory to change your passwords at first login.

Can I change the User Id and Password?

It is mandatory for you to change the machine-generated passwords with your own passwords at first login. You can change your passwords any number of times subsequently, but you can not change your User Id.

How to change passwords?

Passwords can be changed any time and any number of times. To secure access to your account through Internet, it is recommended to change it often. You can go to Customize option and change your passwords.

1. The password cannot consist of all the characters as are in your Username. For example if your Username is "Bob", then your password cannot be "Bobby".

2. Only letters and digits are allowed.

3. Special characters are not allowed in the password.

4. The Password should contain a minimum of 6 characters and a maximum of 10 characters

 What are the good practices for creating a password?

You are requested to choose a password that is not a dictionary word and not guessable from your personal information known to others such as names in the family, vehicle numbers etc. You should change your password frequently. Please try to remember the password and do not write it down or paste it somewhere.

Security Warning: 

Your User Id and Password are highly confidential. Do not part with them. UCO Bank will never ask for this information. Hence, do not tell your password to anyone even if they claim to be from the bank.

I am unable to login with the couriered Password and allotted Customer ID.

Passwords are case sensitive. Also be a little more careful while typing the system-generated passwords for the first time. In case you are still not able to login, Please contact your branch or write to us at uco.custcare@ucobank.co.in

What happens if I forget my User Id for Internet Banking Service / Internet Banking?

In case you forget the User Id for Internet Banking Services, please contact your branch.

What happens if I don't logout?

Please ensure to logout when you finish using the UCO Internet Banking Service. However, if you abruptly close your Internet Banking page, your session will end.

Security Warning: 

Though your login session of UCO Internet Banking Service will be terminated if your browser is left idle for a while, we strongly recommend not leaving your system in between during Internet Banking, as this will give opportunity to others around you to operate your accounts.

Can I use the Mailbox to send e-mails to my friends?

No! The mailbox is only for communication between you and UCO Internet Banking Service

What should I do if I see the message that "This program has performed an illegal operation...”?

This is commonly known as GPF (General Protection Fault). This is an error that happens at your PC. Usually you have to restart your browser and sometimes you may need to restart your PC. If the problem persists, Please consult your PC Vendor. 

What should I do if I do not get a response after clicking on hyperlink or icon?

The response time is mainly effected by several factors, including the speed of your modem connection speed / configuration of your PC, and the volume of network traffic over the internet at the time you are using the service and it becomes unavoidable slow to respond. If there is a delay in response from when you have clicked something, please wait... Avoid clicking repeatedly on a particular link. Do not click "Refresh" or "Reload" or "Back" or Forward" buttons.

THANKS !!!