Uco Bank IFSC Code Finder

UCO Bank: IFSC code

Being digital while transferring money from one account to the other is the need of the hour. Thus, the UCO bank also allows its customers to make online transactions without any hassle. The electronic payment made by the customers of UCO bank is through RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer). The Reserve Bank of India had initiated both these systems for online payment. Both of these require the IFSC code to proceed. IFSC code is the unique alphanumeric code issued by RBI for each branch participating in the online payment. This provides a clear distinction between the source bank and the branch from the receiver’s bank or the branch during the transaction.

What is an IFSC Code of a Bank?

The IFSC code, in full form as the Indian Financial System Code, is the unique 11-digit alphanumeric code provided to all branches of the bank by RBI. There are three basic parts of this code, the first four digits comprise the English alphabet and denote the bank’s name. The fifth digit is 0, i.e. reserved for any future use. The last 6 digits are usually numeric and represent the individual branch of the bank. Thus, we can say that by analysing the IFSC code we can determine the bank as well as the branch.

For example, UCO bank's IFSC code for its branch in Davangere is UCBA0001043. Here the first four letters, ‘UCBA’ represents the bank’s name (UCO bank). The next digit, the 0 remains reserved for any future use. The last six digits ‘001043’ represent the Davangere branch of this bank.

Determining the UCO Bank IFSC Code and MICR Code

It is very easy to determine the IFSC and MICR code of any bank. If you want to know the UCO Bank IFSC code, then you must look at it on the cheque books issued by the bank. The chequebooks contain 11-digit alphanumeric codes that will be the UCO Bank IFSC Code. Moreover, you can also search for the UCO Bank MICR code and IFSC Code on the internet or any third-party website such as BankBazaar. This website will deliver you compact and updated information on any bank’s IFSC or MICR codes.

To search for the UCO Bank IFSC Code or the UCO Bank MICR Code, follow the following steps:

• Visit the official website of BankBazaar. This website will have a separate tab for “Bank IFSC Code”. Click on that tab which will direct you to another page.
• This page will ask for some of the basic information like, ‘Select Bank’, ‘Select State’, ‘Select District’, and ‘Select Branch of your bank’. You just have to select the most appropriate option from it. For example, if you want to search for the UCO Bank IFSC Code and MICR code of the Davangere branch, then you will have to enter the UCO Bank in the select bank option and the Davangere branch in the select branch option. Moreover, you will also have to select the state and district of this branch.
• The website will automatically generate the IFSC code for your bank, after selecting all the options accurately. This website will not only generate the IFSC code but will also generate the MICR Code, contact number and address of the bank.

The Procedure of Transferring Money through NEFT and RTGS of UCO Bank

Transferring money through NEFT and RTGS is the most convenient and safest method that provides quick transactions. UCO Bank provides both the facilities at all its branches and also through net banking.

National Electronic Funds Transfer or NEFT

This nationwide system of payment permits the customers and the banks to make an electronic payments to other accounts and also other banks. However, the account or the bank must be a part of the NEFT to make any digital payment. Based on DNS (Deferred Net Settlement), this amenity is available for the customers with an account in the UCO bank and other walk-in customers who do not have one. The cash-based transactions through NEFT have an upper limit of 50,000 INR. Requirements for making transactions through NEFT are as follows:

1. Full name of the receiver.
2. The bank name, branch name and the account number of the receiver.
3. IFSC Code of the branch of the receiver’s bank.
4. The amount to be transferred.
5. Any remark, if you wish to add.

There are some basic charges imposed by UCO bank on exceeding the limit of transactions through NEFT. These charges with their amount are as follows:

Timings:

You can make transactions through NEFT on working days from Mondays to Saturdays. The time from Mondays to Fridays will be 8 am till 7 pm. However, the time on Saturday will be from 8 am to 1 pm only.

Real-Time Gross Settlement (RTGS)

RTGS is another easy and convenient way for making transactions. The RTGS is a fast process and transactions are based on the order to order. This means that, as soon as the bank receives the instruction, the process for RTGS transactions starts. It is the best method for transferring a large amount of money from one account to the other or even to another bank. The minimum amount for the transaction through this method is 2 lakh INR. Moreover, there is no upper limit on transactions through RTGS of UCO Bank. The information required for proper transaction through this process is as follows:

• The amount to be transferred
• Full name of the receiver.
• Account number, bank name and the branch name of the receiver
• IFSC code of the branch of the receiver’s bank
• You can also add any remark (optional).

Timings:

You can make the transactions through RTGS from Mondays to Saturdays. The time of transaction from Mondays to Fridays for customer transactions is 9:00 am to 4:30 pm. However, the timings of transactions for inter-bank from Mondays to Fridays will be 9:00 am to 6:30 pm. The timing of transactions on Saturdays for customer transactions is 9:00 am to 2 pm. However, the timings of transactions for inter-bank on Saturdays will be 9:00 am to 3 pm.

Like NEFT, the bank also imposed some of the basic amounts of charges on the transaction through RTGS. These imposed charges and the amount of transfer is as follows:

The UCO Bank

This bank was previously known as the Union Commercial Bank and was established in the year 1943. It is one of the leading financial services owned by the Government in India. There are 49 zonal offices of this bank through which it operates. Moreover, two branches of the UCO bank are overseas in Singapore and Hong Kong. This bank has a very diverse customer base and it provides numerous facilities such as investment banking, corporate banking, consumer banking, private banking, mortgage loans, wealth management etc.

The Partnership of UCO Bank and Future Generali

The partnership of UCO Bank and Future Generali aims to deliver a host of products related to insurance. Future Generali already has a partnership with more than 100 Indian banks. Thus, Future Generali offers its services and products all across India. Some of the products of Future Generali include rural insurance, personal accident insurance, travel insurance, home insurance and others. After the announcement of this partnership, the share prices of UCO Bank have greatly increased. Future Generali is thus a very renowned firm. Similarly, the UCO Bank is one of the leading banks with over 3050 branches pan India. Thus, a partnership between these two will benefit both of them.

FAQs on UCO Bank IFSC Code

Q 1- State some of the other products of UCO Bank?

A 1- Some of the other products of UCO Bank are as follows:

• Car loan Eligibility calculator of UCO Bank
• Home loan by UCO Bank
• Personal loan by UCO Bank
• Fixed deposit rate of UCO Bank
• Education loan by UCO Bank

Q 2- Is there any change in the UCO Bank IFSC code?

A 2- No, currently there is no change in the UCO Bank IFSC Code. The IFSC code is the unique alphanumeric number provided to all the branches of the bank across India. The first four letters reveal the bank name followed by a 0 reserved for future use. The last six numeric digits will represent the branch of the bank.

Q 3- Is UCO Bank a private or government bank?

A 3- The UCO Bank is a commercial ban which is under the government of India.