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.
  • We offer FCNR/NRE Deposits in India with alternative rates.
  • Deposit Insurance Scheme: Singapore Dollar Deposits of Non-Bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$ 75,000 in aggregate per depositor per scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

**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

    RETAIL DEPARTMENT

    Chief Manager: Mr Shahid Pervez

    Joint Manager: Ms Jagdis Kaur
    Phone: (65) 65324014 (DID)
    Fax: (65) 6532 4851
    Email:retail@ucobank.com.sg

    Main Office



     Deposits

    Types of Accounts


    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) 2,000 5,000
    2 UNITED STATES DOLLAR(USD) 1,000 1,000
    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 2024-04-25  10:00

    Board Rates
      Local Dollar to one unit of foreign ccy
      SELLING TT BUYING OD BUYING
    Sterling Pounds 1.7155 1.678 1.673
    Australian Dollars 0.8975 0.873 0.868
    06MONTHS 0 0 0
    Canadian Dollars 1.006 0.9815 0.9765
    US DOLLARS 1.3695 1.3535 1.3435
    Local Dollar to 100 unit of foreign Ccy
    Euro 1.476 1.4395 1.4345
    Indian Rupees 1.69 1.58 1.28
    HongKong Dollars 17.65 17.1 17
    Japanese Yen 0.884 0.868 0.8655
    Interest Rates
      EURO USD GBP AUD SGD <50000
    01MONTH 0 3.4 0.01 0.5 2.25
    02MONTHS 0 3.4 0.01 0.75 2.25
    03MONTHS 0 3.65 0.05 1 2.25
    06MONTHS 0 4.15 0.1 1.5 2.5
    09MONTHS 0 4.4 0.1 2 2.8
    12MONTHS 0 4.5 0.15 2.75 3
    Indian Rupees 1.82 1.71 1.41
    HongKong Dollars 17.95 17.45 17.35
    Japanese Yen 1.029 1.0125 1.01

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

    For USD100,000 and above
    Months USD
    01MONTH 3.5500
    02MONTHS 3.5500
    03MONTHS 3.8000
    06MONTHS 4.3000
    09MONTHS 4.5500
    12MONTHS 4.6500

     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:

    • Telegraphic Transfer/ Wire Transfers via SWIFT in major currencies viz., INR, USD, GBP, EUR, JPY, AUD, CAD, HKD.
    • 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.