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About UCO Bank : United Commercial Bank, shortly referred to as UCO Bank, is a popular nationalized bank in India. It was established in 1943 in the city of Kolkata, West Bengal. G.D. Birla was the one who incubated the idea of starting a commercial bank. With Birla as chairman, the bank constantly expanded itself throughout India.
In 1969, it was recognized as a nationalized bank alongside many others. For the current fiscal year of 2020-21, UCO Bank reported Rs. 167 Crores net profit with almost 94% of its shares held by the Ministry of Finance under the Government of India. The bank actively works towards social causes and aims to play a significant role in alleviating poverty.
Like all its nationalized competitors, UCO Bank provides its customers with a variety of services and products, including Saving Account Opening and Current Account Opening. Additional, investment opportunities such as fixed deposits, recurrent deposits, and locker options are available in all branches pan-India.
With the onset of digitalization, the bank has also taken necessary steps towards advancement. The UCO Bank not only has a mobile app but also provides its customers with digital services like FastTag Payment Gateway, Internet Banking, Cardless Transactions, and BHIM UCO UPI, among other such facilities. Debit and Credit Cards are also made available to all the account holders at minimal costs.
Headquarter: Since its inception, UCO Bank has had its headquarters in Kolkata. The headquarters is currently located in BTM Sarani, Kolkata.
Number of employees: There are about 22,012 employees working across all branches of the UCO Bank. Shri Atul Kumar Goel is the MD and CEO, while Shri Ajay Vyas and Shri Ishraq Ali Khan are the two Executive Directors. Alongside them, the board of directors includes highly qualified individuals like Dr. Sanjay Kumar, Dr. Tuli Roy, and Shri K Rajivan Nair.
Number of Branches & ATM: Presently, UCO Bank has 3,078 branches and 2,564 ATMs across the nation. Rapid growth through increasing the number of branches and ATMs is a significant aim of the future. Moreover, the bank has two overseas, fully-functional units in Singapore and Hong Kong, marking over 60 years of service in overseas branches.
Rate of Interest : 9.85% Per Annum
Loan Amount : Up to Rs.5 Crore
Maximum Tenure : Maximum 10 Years
Processing Fee : 0.5% of loan amount
Prepayment Charges : Nil
Yearly Business Income : As Per Loan amount Requirements
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