A bank is an institution which deals in money and credit.

Thus,
bank is an intermediary which handles other people’s money
both for their advantage and to its own profit. A bank is a
factory of “CREDIT”.
 According to section 5(1)(b), Banking means accepting for the
purpose of lending or investment of deposits of money from the
public, repayable on demand on otherwise and withdrawal by
cheques, draft, order or otherwise.
 6thJanuary 1943 : Incorporation of the
Bank.
10thMay 1943 : Starting of the formal
operation.
During the year it opened 14 branches across
the country.
1947: the Bank had 76 branches
1957: the Bank opened its 100thbranch
1969: nationalized with 372 branches
1977: opened the 1000thbranch
1985: the name changed to “UCO Bank”
1997: formulation of 3-year Strategic Revival Plan
1997- 2000 and implementation there off.
2000: formulation of 3-year Medium Term Revival
Plan
2000-2003 with the objective of becoming a “TOP
CLASS BANK”.
2003: went Public in Sep.’03 creating a history in
terms of oversubscription and no. of applications
received.
2004-2008: the Bank consolidated its bottom line
following the Policies/Strategies taken to improve
its financial health
2009: The Bank’s Slogan is we shall make UCO a
truly” WORLD CLASS FINANCIAL INSTITUTION ".
 To be a top-Class Bank to achieve sustained growth of
business and profitability, fulfilling socio-economic
obligations, excellence in customer service, through up
gradation of skills of staff, their effective participation and
making use of state-of-the-art technology.
 To emerge as the most trusted, admired and sought-after
world class financial institution and to be the most preferred
destination for every customer and investor and a place of
pride for its employees.
Strengths of UCO Bank.
 In order to help out and satisfy the need of the
customers, the bank has introduced pre-FUNDED
cheques with an upper limit inscribed on it to be used as
gift cheques ; travelers cheques or as a normal cheque.
The scheme shall operate in CBS branches only and
such cheques are payable at par at all CBS branches.

 UCO tax saver deposit scheme:

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 along
with other deductions already available under 80C)
 Debit Cards
 Credit Cards

Other Facilities
 Cheque facility
 Tax saving facility
TIME PERIOD RATE OF
(Days) INTEREST (%)
15-29 1.00
30-45 2.00
46-60 2.50
61-90 3.00
91-120 3.50
121-179 4.00
180-269 4.50
270-1 year 5.50
1year and above 6.00
 Savings Bank Account
 Current Account
 Current Account in Foreign Currency
 Fixed deposit Account
 UCO attractive deposit schemes.
ATTRACTIVE DEPOSITS SCHEMES
Money back recurring deposit (Makes your dream come
true):
It is a long term recurring deposit scheme with intermediate
withdrawal facility. Deposits are to be made every month
and the maturity period is after 120 months.
Friend in need is a friend in Deed (a fixed deposit with
cheque facility):
This term deposit earns high interests and simultaneously
offer overdraft facility through a current A/C. Cheque facility
is available for withdrawal of money limited to 90% of the
deposit. The drawals together with interest can be paid
back in installments, without affecting the growth of the
deposit.
Two way deposit scheme(Make your idle money grow):
This deposit scheme is devised to invest the surplus fund that
you may keep in your savings bank on current A/c. Under the
scheme, the surplus fund is invested in short term deposits of
46 days and then is either paid back or renewed as desired by
the customer. The deposits earn a high rate of interest while
retaining its liquidity.
Lakshmi Yojana(Hope for your future):
It is a long term recurring deposit scheme with variable
monthly deposits. The interest on deposits is calculated as
the minimum monthly balance between the 10th and the last
day of the month and is credited to the account every half
year. The amount deposited will attract interest as
applicable to term deposits. This yojana is the best for
children future plan.
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 needs of a safe long term investment.
Flexible fixed deposit schemes:
Deposits are accepted under re-investment plan with the
difference that a part of the deposits can be prematurely
encashed without affecting the remaining portion that
continues to gain 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 citizens:
For all term deposits, from senior citizens of age above 60 years
and above, regardless of size of deposits, an additional interest
0.5% 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.

Verification of age:
For the purpose of verification of age, at the time of opening a
new term deposits account of a senior citizen, the branch should
satisfy the following documents:
Secondary school leaving certificate indicating date of birth.
LIC Policy
Voters identity card
Pension payment order
Birth certificate issued by the competent authority.
Passport or any other document acceptable.
Senior citizens enjoy the following facilities:
Waiver of penalty for premature withdrawal: For all
fresh deposits a renewal under the special deposit
scheme for senior citizens, there will be no penal rate
for premature withdrawal of term deposit. However the
interest applicable in case of premature withdrawal is
kept with the bank.

Free remittance facility: Senior citizens will be

offered free remittance facility upto Rs.500 per month
i.e. without payment of any commission.

Loan facility: Depositors under this scheme will be

eligible for loans under the UCO pension scheme.
Parameters Trend Absolute Rs % Growth
in Crores

34,354 25.34
Business
Deposits 20,312 25.42
Advances 14,042 25.24
Investments 4,756 19.31