Retail Business

We Offer the following Deposit Schemes:**

  • Savings Bank Deposit Accounts in SGD currency.
  • Current Deposit Accounts in all important currencies.
  • Fixed Deposit Accounts at attractive interest rates in all major currencies (USD, EUR, CHF, AUD, GBP, CAD & SGD) with automatic rollover on maturity.
  • Call Deposit Accounts in US Dollars and in other Currencies.
  • Senior Citizens - special interest rate for fixed deposits upto S$50,000/-.

**Risk Disclaimer clause applicable

Customers are advised that an exchange rate risk is involved in foreign currency fixed deposit schemes (whether in Singapore or India) and that
  • the earnings on fixed deposits are dependent on the exchange rates prevalent at the time of maturity of the deposits.
  • adverse exchange rate movements could erode interest earnings completely.
  • All deposits will also be subject to Local Rules in the country as prevailing from time to time.
  • The Bank shall have no responsibility for or liability to the customers for any diminution in the value of funds due to taxes or depreciation or for the unavailability of such funds on maturity due to restrictions on convertibility, requisition, involuntary transfers, distraints of any character, exercise of governmental or military powers, war, strikes or other causes beyond the Bank's control.
  •  For more Details please Contact

    Main Office


    Chief Manager: Mr A.P. Jegadish

    Joint Manager: Mrs Arulmoshi Wood
    Phone: (65) 65324014 (DID)
    Fax: (65) 6532 4851
    Email:retail@ucobank.com.sg

     Deposits

    Types of Accounts

    • Savings Bank Account
    • Current Account
    • Fixed Deposits

    Savings Bank Account
    SL.NO. CURRENCY MINIMUM BALANCE
    Individual
    1 SINGAPORE DOLLAR(SGD) 200

     Savings Bank Interest Rate is 0.1%

    Current Account
    SL.NO. CURRENCY MINIMUM BALANCE
    Individual Firms & Companies
    1 SINGAPORE DOLLAR(SGD) 1,000 5,000
    2 UNITED STATES DOLLAR(USD) 2,000 2,000
    3 ALL OTHER MAJOR CURRENCIES 1,000 1,000

      Singapore Dollar (SGD) Prime Lending Rate is 6.00%
      United States Dollar (USD) Prime Lending Rate is 7.5%
     

    Fixed Deposits
    SL.NO. CURRENCY MINIMUM BALANCE
    1 SINGAPORE DOLLAR(SGD) 1000
    2 UNITED STATES DOLLAR(USD) 1000
    3 ALL OTHER MAJOR CURRENCIES 2000

     Fixed Deposits

     Rates updated on 2018-09-21  10:30

    Board Rates
      Local Dollar to one unit of foreign ccy
      SELLING TT BUYING OD BUYING
    Sterling Pounds 1.8300 1.7920 1.7870
    Australian Dollars 1.0070 0.9820 0.9770
    Canadian Dollars 1.0700 1.0450 1.0400
    EURO 1.6265 1.5890 1.5840
    US Dollars 1.3725 1.3570 1.3470
    Local Dollar to 100 unit of foreign Ccy
    Indian Rupees 1.9500 1.8300 1.5300
    HongKong Dollars 17.7000 17.1500 17.0500
    Japanese Yen 1.2215 1.2040 1.2015
    Interest Rates
      EURO USD GBP AUD CHF SGD <50000
    01MONTH 0.0000 1.6250 0.0000 1.6000 0.0000 0.1000
    02MONTHS 0.0000 1.7250 0.0000 1.7000 0.0000 0.2000
    03MONTHS 0.0000 1.8750 0.0000 1.7500 0.0000 0.3000
    06MONTHS 0.0000 2.1250 0.0500 1.8000 0.0000 0.4500
    09MONTHS 0.0000 2.2500 0.0000 1.8000 0.0000 0.5500
    12MONTHS 0.0000 2.3250 0.0000 1.9500 0.0000 0.6500

     Note: Please take up with the department for the revised commission / service charges details.

    For USD100,000 and above
    Months USD
    01MONTH 1.7500
    02MONTHS 1.8500
    03MONTHS 2.0000
    06MONTHS 2.2500
    09MONTHS 2.3750
    12MONTHS 2.4500

     Remittances

    UCO through its worldwide network of correspondents, Indian branches and overseas branches, offers prompt inward and outward foreign remittance facilities at very competitive rates. The use of SWIFT network adds to reliability and efficient handling.The remittances are handled by our two branches in Singapore, through our well-spread network of branches in India.

    We offer the following Remittances Services at highly competitive rates:


    • Demand Drafts in major currencies viz., INR, USD, GBP, EUR, JPY, AUD, CAD, HKD, CHF.
    • Telegraphic Transfer/ Wire Transfers via SWIFT in major currencies viz., INR, USD, GBP, EUR, JPY, AUD, CAD, HKD, CHF.
    • Managers Cheque in SGD and USD. (within Singapore).

     Safe Deposit Lockers

    Safe Deposit Lockers in type A, B, C and D sizes are rented out to customers at reasonable charges

    Call Deposits
    Type of Locker Measurements in inches Rental/Year(Amt.in S$)
    Type A - Small 4” X 8” 100
    Type B - Medium 8” X 8” 150
    Type C - Large 8” X 12” 200
    Type D - Extra Large 16” X 16” 300

    Following are the requirement to open a Safe Deposit locker account


  • Fixed Deposit Account with a minimum sum of S$3000/ or maintain an account with us .
  • Advance rent for 2 years.
  •   Note: Please take up with the department for the revised commission / service charges details.