Time is Money. Review on UCO Bank

UCO Bank is a public sector bank owned by the Government of India. I have an account with this bank for 4 years now. The general perception about public sector banks is that the staff is lazy and inefficient and you don’t get any service but UCO bank is an exception.

The best thing about the bank is their staff. The Staff is the most friendly, active and efficient of all the public sector banks I have dealt with. I have interacted with the staff of atleast 15 PSU banks but never have I got such a great response. The staff of UCO bank will treat you like family and they always care about your time. They know that time is precious and they never waste your time. They even have a chart showing the various services offered by them and the time taken to serve you. For example, depositing your money, withdrawal, making of draft/pay order, updating your passbook, etc all is done within 2-4 minutes. The staff is never rude and always ready to answer any of your queries and help you.

You can open recurring deposit, savings and fixed deposit accounts like other banks. The bank also provides loans and O/D facility on current a/c like other banks. The Interest rates on the deposits are low like other PSU banks.

UCO bank is the agent of LIC and will help you take policies and other deposit schemes offered by LIC. You can also take various mutual funds from the bank. So UCO bank also helps you with your other investments.

The other thing I like about this bank is that there are almost no queues. Maybe the branch where I have an account has few customers.

The bank needs to improve on the following points:

There are very few branches of UCO bank in Mumbai.

ATM facility is not offered at all the branches.

The timings of the bank need to increased.