Industry: Banking
UCO Bank provides commercial banking services to individuals and businesses in India. Its deposit products include current deposits, fixed deposit accounts, savings bank deposits, regular recurring deposits, fixed deposits in foreign currency, special deposit scheme for senior citizens, tax saver deposit schemes, current accounts in foreign currency, flexible fixed deposit schemes, money back recurring deposits, and minimum balance schedule products.
The company’s loan products comprise real estate loans for builders/promoters/developers of real estate; education loans to students; mortgage loans of the property; short term loans to pensioners; personal loan schemes to marriage, medical, traveling, and other social obligations; and loans against financial securities. Its loan products also include consumer loan schemes to purchase various consumer durables and two-wheelers; car loans; loan schemes for financing for earnest money deposit; working capital financing and term loans for agriculture, trade and service, large/medium and small scale industries, and infrastructure sectors, as well as for export/import and non-fund based needs, such as letter of credit and bank guarantees; loan against the security of future receivables; and reverse mortgage loan schemes for senior citizen.
In addition, it offers various international banking services, which comprise foreign currency loans, finance/services to exporters and importers, remittances, forex and treasury services, resident foreign currency deposits, correspondent banking services, and various general banking services. The company provides its international banking services for customers, including corporate, nonresident Indians, overseas corporate bodies, and foreign companies/individuals, as well as foreign banks. It was formerly known as The United Commercial Bank Ltd. and changed its name to UCO Bank in 1985.
