UCO Bank Zero Balance Savings Account

Last Updated : March 26, 2025, 3:34 p.m.

UCO Bank, formerly United Commercial Bank, is a major public sector bank in India, headquartered in Kolkata, West Bengal. Established on January 6, 1943, it has a widespread network of over 3,000 branches and 2,500+ ATMs across India. UCO Bank provides a range of banking services, including savings accounts, zero balance savings accounts, loans, digital banking, and participation in government schemes like PMJDY. Let us delve deeper to find out about the zero balance savings accounts, their features and other details.

Types and Features of UCO Bank Zero Balance Savings Account

UCO Zero balance scheme

RuPay Debit Card :

• Free RuPay card with ₹2 lakh accidental insurance cover (₹1 lakh for accounts opened before August 28, 2018), activated with at least one transaction every 90 days.

Initial Deposit :

• No minimum deposit required to open the account.

Transaction Limits :

• Four free withdrawals per month (including ATM transactions).
• Unlimited deposits allowed.

Overdraft Facility :

• Up to ₹10,000 overdraft after 6 months of satisfactory operation (one per household, preferably for women).

Insurance and Pension :

• Links to PMJJBY (₹2 lakh life insurance), PMSBY (₹2 lakh accident insurance), and APY (pension scheme).
• ₹30,000 life cover for accounts opened between August 15, 2014, and January 31, 2015, if eligible.

Direct Benefit Transfer (DBT) :

• Facilitates direct receipt of government subsidies and welfare payments.

Digital Banking :

• Access to UCO Bank’s mobile app and net banking services.

UCO Smart Kids Savings Bank Scheme

This is one of the best zero balance savings accounts for minors .

Personalized ATM/Debit Card :

• Comes with a personalized ATM card featuring the child’s photograph.
• Withdrawal and shopping limits:
  • Daily limit: ₹3,000.
  • Monthly limit: ₹15,000.

Chequebook Facility :

• Two free chequebooks (20 leaves each) per year.
• Additional leaves may incur nominal charges (e.g., ₹2 per leaf, subject to bank policy).

Digital Banking :

• Net banking access is provided, initially for viewing purposes, with transaction capabilities enabled after a certain period (bank discretion).
• Mobile banking available via the UCO mBanking Plus app.

Fund Transfers :

• Free transfers from accounts of natural guardians (parents) or grandparents to the child’s account, encouraging family support for savings.

Educational Loan Concession :

• No processing charges on future education loans, providing a long-term benefit for account holders pursuing higher studies.

Attractive Passbook :

• A visually appealing passbook is issued to make banking engaging for kids.

Account Restrictions :

• Cannot be overdrawn; the balance must always remain in credit.
• Joint accounts are not permitted under this scheme.

UCO Bank Pradhan Mantri Jan-Dhan Yojana (PMJDY) Savings Account

This is a top zero balance savings account for individuals.

RuPay Debit Card:

• Issued free with the account, offering:
  • Accidental Insurance Cover: ₹2 lakh for accounts opened after August 28, 2018 (₹1 lakh for earlier accounts), activated by using the card at least once every 90 days.
  • Usable at ATMs, POS terminals, and online platforms across India.

No Charges for Basic Services:

• Free account opening, cash deposits, and withdrawals at UCO Bank branches or Business Correspondent (Bank Mitra) outlets.
• Four free withdrawals per month (including ATM transactions).

Overdraft Facility:

• Up to ₹10,000 overdraft available after 6 months of satisfactory account operation, limited to one account per household (preferably for the female member), subject to bank approval.

Insurance and Pension Schemes:

• Links to government-backed schemes:
  • Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): ₹2 lakh life insurance for a small premium (₹436 p.a.).
  • Pradhan Mantri Suraksha Bima Yojana (PMSBY): ₹2 lakh accident insurance (₹20 p.a.).
  • Atal Pension Yojana (APY): Pension benefits for the unorganized sector.
• Additional ₹30,000 life cover for accounts opened between August 15, 2014, and January 31, 2015, if eligibility criteria (e.g., age 18–59) are met.

Direct Benefit Transfer (DBT):

• Facilitates direct receipt of government subsidies and welfare payments (e.g., LPG subsidies, MGNREGA wages).

Digital Banking:

• Access to UCO Bank’s mobile banking app (UCO mBanking Plus) and net banking for transactions, balance checks, and bill payments.

Eligibility For a UCO Bank Zero Balance Savings Account

Nationality/Residency:

• Must be an Indian citizen residing in India. Non-Resident Indians (NRIs) are not eligible for these accounts but can explore NRE/NRO options.

KYC Compliance:

• Applicants must provide valid Know Your Customer (KYC) documents:
  • Identity Proof: Aadhaar Card, Voter ID, Passport, PAN Card, Driving License, NREGA Job Card, etc.
  • Address Proof: Aadhaar Card, utility bill (not older than 3 months), ration card, etc.
  • For PMJDY, Aadhaar alone is sufficient if it reflects the current address.
• Two recent passport-sized photographs are required.

No Income Requirement:

• There are no income or employment criteria, making these accounts accessible to students, homemakers, daily wage earners, and others.

Documents Required for a UCO Bank Zero Balance Savings Account

1. UCO No-Frills Savings Bank Account

• Identity Proof: Any one from the list above (e.g., Aadhaar, Voter ID, Passport).
• Address Proof: Any one from the list above (e.g., Aadhaar, utility bill).
• Photographs: Two passport-sized photos.
• For Minors (above 10):
  • Minor’s identity proof (e.g., Aadhaar, school ID, birth certificate).
  • Guardian’s KYC documents (if required for verification).
• Notes: Aadhaar is preferred for simplicity, but any Officially Valid Document (OVD) is accepted.

2. UCO Smart Kids Savings Bank Scheme

• Identity Proof:
  • Minor’s Aadhaar Card, school ID, birth certificate, or passport.
• Address Proof:
  • Minor’s Aadhaar Card (if updated) or parent’s address proof (e.g., utility bill) with a declaration linking the child’s address.
• Photographs: Two recent passport-sized photos of the minor.
• Guardian’s Documents:
  • Parent/guardian’s KYC (e.g., Aadhaar, PAN) may be required for verification or fund transfers, though the account is operated solely by the minor.
• Notes: Emphasis on the minor’s documents since the account is in their name; guardian documents are supplementary.

3. UCO Bank PMJDY Savings Account

• With Aadhaar:
  • Aadhaar Card or Aadhaar Number (serves as both identity and address proof).
  • Self-certification of current address if it differs from Aadhaar.
• Without Aadhaar:
  • Any one Officially Valid Document (OVD):
    • Voter ID Card
    • Passport
    • Driving License
    • PAN Card
    • NREGA Job Card
  • Separate address proof if the OVD doesn’t include the current address (e.g., utility bill, ration card).
• Photographs: Two recent passport-sized photos.
• For Minors (above 10):
  • Minor’s identity proof (e.g., Aadhaar, birth certificate).
  • Guardian’s KYC documents (e.g., Aadhaar, Voter ID).

How to open a UCO Bank Zero Balance Savings Account?

You can either use the online or offline option to open a UCO Bank zero balance account.

Option 1: Online Process

1. Visit the UCO Bank Website:
   • Go to the official website.
2. Navigate to Account Opening:
   • Under “Personal Banking” or “Savings Accounts,” look for options like “No-Frills Savings,” “Smart Kids Savings,” or “PMJDY Account.”
   • Select the specific zero-balance account you want to open.
3. Fill the Online Application Form:
   • Provide personal details:
     • Full name
     • Date of birth
     • Gender
     • Mobile number (linked to Aadhaar, if applicable)
     • Email ID
     • Address
     • Nominee details (optional)
   • Specify the account type (e.g., PMJDY, No-Frills, or Smart Kids).
4. Upload KYC Documents:
   • Scan and upload:
     • Identity Proof: Aadhaar Card, Voter ID, Passport, etc.
     • Address Proof: Aadhaar Card, utility bill, etc. (if separate from ID).
     • Two recent passport-sized photographs (digital format).
   • For Smart Kids: Include the minor’s documents (e.g., birth certificate, school ID).
   • For PMJDY: Aadhaar is sufficient; otherwise, an OVD combo is needed.
5. Submit the Application:
   • Review your details and submit the form. You’ll receive a confirmation SMS/email with a reference number.
6. Complete Verification:
   • Video KYC:
     • Schedule a video call via the UCO mBanking Plus app or a link sent by the bank.
     • Show original ID proof during the call for verification.
   • Branch Visit (if required): Some cases may need in-person verification at a nearby UCO Bank branch with original documents.
7. Account Activation:
   • Once verified, you’ll receive:
     • Account number and customer ID.
     • RuPay Debit Card (for PMJDY) or ATM card (for No-Frills/Smart Kids), mailed to your address.
     • Instructions to activate net banking/mobile banking.

Option 2: Offline Process (At a Branch)

1. Locate a UCO Bank Branch:
   • Find a nearby branch using the branch locator or call customer care at 1800-103-0123.
2. Request the Application Form:
   • Visit the branch and ask for the form for:
     • “UCO No-Frills Savings Bank Account.”
     • “UCO Smart Kids Savings Bank Scheme” (for minors).
     • “PMJDY Savings Account.”
   • Specify it’s a zero-balance account.
3. Fill Out the Form:
   • Provide details:
     • Full name
     • Address
     • Contact number
     • Date of birth
     • Nominee details (optional)
   • For minors (Smart Kids/PMJDY), the guardian may assist but the account is in the child’s name.
4. Submit KYC Documents:
   • Provide:
     • Identity Proof: Aadhaar, Voter ID, Passport, etc.
     • Address Proof: Aadhaar, utility bill, etc.
     • Two passport-sized photographs.
   • Self-attest photocopies and show originals (returned after verification).
   • PMJDY: Aadhaar alone suffices; otherwise, an OVD combo.
   • Smart Kids: Minor’s documents (e.g., Aadhaar, birth certificate) plus guardian’s KYC if needed.

Maximum Limit for UCO Bank Zero Balance Savings Account

UCO Bank's No-Frills Savings Bank Account (zero balance) doesn't have a maximum balance limit, and you can open it with a minimum initial deposit of Rs. 5, but for cheque book facility, the minimum deposit needs to be Rs. 250.

UPI Transaction Limit of UCO Bank Zero Balance Savings Account

UPI Transaction Limits:

• Per day limit: ₹1,00,000.
• Per transaction (UPI 123Pay): ₹10,000.
• Maximum transactions per day: 10.
• USSD channel daily limit: ₹5,000.

What is the Withdrawal Limit Per Day of UCO Zero Balance Savings Account?

• ATM Withdrawal Limit: Rs. 25,000 per day.
• POS/Ecomm Limit: Rs. 50,000.
• UCO Smart Kids Savings Account: This account has a daily withdrawal limit of Rs. 3,000 and a monthly limit of Rs. 15,000.
• No-Frills Account: This account allows you to withdraw funds while maintaining a zero balance.