UCO Bank Minimum Balance Charges: All Account Types

UCO Bank Minimum Balance Charges: All Account Types

UCO Bank levies charges on savings accounts that fall below the required minimum balance, and the exact amount depends on your account type and branch location. Knowing the applicable limit helps you avoid unnecessary deductions from your account.

UCO Bank Minimum Balance Requirements

UCO Bank categorises its branches into metro, urban, semi-urban, and rural tiers. The minimum balance requirement and penalty differ across these categories.

Savings Account (Regular)

• Metro and Urban branches: Rs 1,000 minimum average monthly balance
• Semi-Urban branches: Rs 500 minimum average monthly balance
• Rural branches: Rs 250 minimum average monthly balance

UCO Salary Account

Salary accounts at UCO Bank are zero-balance accounts. No minimum balance charges apply as long as the salary credit mandate is active.

UCO Basic Savings Bank Deposit (BSBD) Account

BSBD accounts are zero-balance accounts opened under the Pradhan Mantri Jan Dhan Yojana (PMJDY) and similar financial inclusion schemes. These accounts have no minimum balance requirement.

Penalty Charges for Non-Maintenance

If your account balance falls below the required monthly average, UCO Bank deducts a non-maintenance charge. Typical charges are:

• Metro and Urban: Rs 50 to Rs 100 per quarter depending on the shortfall
• Semi-Urban: Rs 25 to Rs 50 per quarter
• Rural: Rs 10 to Rs 25 per quarter

These charges are subject to revision. Always check the latest Schedule of Charges on the UCO Bank official website or confirm with your branch for current rates.

How to Avoid Minimum Balance Charges

• Maintain the required average monthly balance throughout the month, not just on the last day.
• Set up a recurring deposit or auto-sweep to keep funds above the threshold.
• Consider switching to a UCO Salary Account or BSBD account if you qualify for zero-balance benefits.
• Track your balance via UCO mBanking+ to get real-time updates and alerts.

How to Check Your Current Balance

1. Open UCO mBanking+ and log in.
2. Select your savings account from the home screen.
3. Your current balance and recent transactions are displayed instantly.

Key Takeaways

• UCO Bank minimum balance varies from Rs 250 (rural) to Rs 1,000 (metro/urban) for regular savings accounts.
• Salary and BSBD accounts are exempt from minimum balance requirements.
• Non-maintenance charges are levied quarterly and vary by branch tier.
• Use UCO mBanking+ to monitor your balance and avoid unexpected deductions.

Frequently Asked Questions

What is the minimum balance for a UCO Bank savings account in a metro city?

For metro and urban branches, UCO Bank requires an average monthly balance of Rs 1,000. Falling below this threshold attracts a non-maintenance penalty levied quarterly.

Does UCO Bank charge for zero-balance accounts?

No. UCO Bank Basic Savings Bank Deposit accounts and salary accounts are zero-balance accounts. No minimum balance charges apply to these account types.

How can I check if UCO Bank has deducted a minimum balance charge?

Log in to the UCO mBanking+ app or check your account passbook. Charges are reflected as debit entries. You can also request a mini statement via SMS banking to review recent transactions.