UCO Bank

WikiFX | 2025-04-25 18:32

Abstract：Founded in 1943 and based in Kolkata, UCO Bank is among India's major public sector banks providing a wide spectrum of financial services to people, businesses, NRIs, and government agencies. The bank offers branch-based services like forex, treasury, retail loans, and specialized business banking as well as integrated digital platforms.

UCO Bank Review Summary
Founded	1943
Registered Country/Region	India
Regulation	Not regulated
Products and Services	Corporate Banking, International Banking, Government Business, Rural Banking, Digital Banking
Trading Platform	Internet Banking, WhatsApp Banking, mBanking Plus, UCO Pay+, UCO mPassbook, UCO Secure, Online Services, Instant Digital Loan, UCO Smart Pay
Customer Support	Address: UCO Bank Head Office, 10, B T M Sarani, Kolkata - 700001, West Bengal, India
Customer Support	Toll Free Number: 1800 103 0123

UCO Bank Information

Founded in 1943 and based in Kolkata, UCO Bank is among India's major public sector banks providing a wide spectrum of financial services to people, businesses, NRIs, and government agencies. The bank offers branch-based services like forex, treasury, retail loans, and specialized business banking as well as integrated digital platforms.

Pros and Cons

Pros	Cons
Wide service coverage: rural, government, corporate	Not regulated
Modern digital platforms	No access to global trading platforms like MT4 or MT5
Fee concessions for MSMEs and agriculture	Relatively complex fee structure for larger or high-risk borrowers

Is UCO Bank Legit?

UCO Bank is not governed as a forex or CFD broker in its registered nation, India. It also lacks trading-related licenses from major international regulatory authorities including the FCA (UK), ASIC (Australia), or CySEC (Cyprus), which are usually considered industry standards for trader protection and regulatory control.

The domain ucobank.com was registered on August 22, 1997, and it is set to expire on August 21, 2025. It was last updated on August 6, 2024. The domain status is marked as client transfer prohibited, which means it is protected against unauthorized domain transfers.

What Can I Trade on UCO Bank?

Spanning corporate, international, government, rural, and retail banking, UCO Bank offers all-encompassing banking solutions. From deposits, loans, remittances, foreign exchange, and treasury to digital banking tools including WhatsApp and internet banking, the services cover all aspects.

Category	Products/Services Offered
Corporate Banking	Loans/Advances, Deposits, Value Added Services, Credit Growth
International Banking	Products and Services, Remittances, Forex & Treasury Services, Authorized Forex Branches
NRI Services	NRI Corner, Remittance, Services
Government Business	Govt. Deposit Schemes/Bonds, Tax Collection, Pension Payment, Policy Info, Valuation, Others
Rural Banking	Microfinance Loans, Agriculture Credit, Personal Loans, Financial Inclusion, Deposits, SLBC
Digital Banking	Internet Banking, WhatsApp Banking, UCO Rewardz, Social Media Access, Loan Tools

UCO Bank Fees

From corporate to international to government to rural to retail banking, UCO Bank offers thorough banking solutions. From deposits, loans, remittances, foreign exchange, and treasury to digital banking tools including WhatsApp and internet banking, the services cover everything.

Category	Fee / Commission	Remarks
Processing Charges	0.25% – 0.50% + GST	Nil for small MSME/Agriculture loans; based on credit rating
Upfront Fees (Term Loan/DPG)	0.75% – 1.50% + GST	Based on external rating; Nil for < ₹25,000
Documentation Charges	₹250 – ₹50,000 + GST	Based on limit size; waived for small borrowers
Mortgage Charges	₹10,000 – ₹35,000 + GST	Based on limit; Nil for loans < ₹10 Lakh
Inspection Charges	₹800 – ₹50,000 + GST	Based on limit; annual charge
Prepayment Charges	2.00% + GST	Waived for MSEs and agriculture loans
Supervision Charges	₹3,100 + GST per half year	For accounts ≥ ₹1 crore
Modification of Sanction Terms	₹1,500 – ₹5 Lakh + GST	Based on limit; applicable only for customer-initiated changes
Issuance of NOC	₹2,500 – ₹1.5 Lakh + GST	Based on loan limit
LC Opening Charges	Usance: 2.40% p.a.; Commitment: 1.20% p.a. + GST	Discounts for AAA/A borrowers; additional ₹250 SFMS fee
Bank Guarantee Commission	1.25% – 3.60% p.a. + GST	Based on rating & tenure; higher for unrated or SPV/JV guarantees
Amendments (LC/BG)	₹1,000 + GST per amendment + SFMS fee	Additional ₹250 per SFMS message
Project Appraisal Charges	0.20% + GST (max ₹5 Lakh)	If appraisal shared with others in consortium
Pre-Processing Charges	Nil	Actual third-party verification charges (CIBIL, CRIF, etc.) recovered separately
Revalidation Charges	25% – 50% of original fees	Based on size; subject to minimum ₹15,000 + GST
Withdrawal of Concessions	Full recovery of discounts + 2% prepayment	On takeover by another bank
LC Negotiation Charges	₹500 – ₹3,000 + GST	Based on bill size + SFMS fee

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for What Kind of Traders
Internet Banking	✔	Desktop, Web	Retail users preferring full-service online access
WhatsApp Banking	✔	Mobile (WhatsApp enabled)	Users seeking quick, chat-based banking services
mBanking Plus	✔	Android, iOS	Retail users for comprehensive mobile banking
UCO Pay+	✔	Android, iOS	UPI users for quick, seamless digital payments
UCO mPassbook	✔	Android, iOS	Customers tracking transaction history digitally
UCO Secure	✔	Android, iOS	Security-focused users for transaction verification
Online Services	✔	Desktop, Web	General users accessing banking tools and utilities
Instant Digital Loan	✔	Web, Mobile	Users needing quick, automated loan approvals
Cardless Transaction	✔	ATM, Mobile	Users preferring cash withdrawals without physical cards
UCO Corporate Mbanking	✔	Web, Mobile	Businesses managing accounts and transactions
Payment Gateway	✔	Web	Online merchants integrating payment collections
POS	✔	POS Devices	Retail merchants accepting card payments
Merchant QR & Sound Box	✔	QR Device, Mobile App	Small businesses using UPI QR-based transactions
Bhim UCO UPI	✔	Mobile App	Any users making UPI payments
UCO Smart Pay	✔	Mobile App	Retailers offering integrated digital payment experience