UNION CLASSIC CURRENT ACCOUNT (UCCA)
UCCA is the Premium Current Account Product suited for Traders, Corporates, Business entities and Institutions.
Based on the previous month's Average Monthly Balance (AMB) maintained in the account, following free facilities are allowed in UCCA scheme. There are three kinds of AMB recognized for this purpose as follows:-
Average Monthly Balance (AMB) in UCCA is calculated from 16th of existing month to 15th of next month.
Average Monthly Balance
Free Cash Deposit limit per month ^
Rs. 50 lac
Rs. 75 lac
Free Cash Withdrawal limit per day ^
NEFT / RTGS / Inter Branch transfer limit per day
Free Remittances per month
Remittances include DD/ outstation cheques for collection / standing instruction / auto sweep.
Rs. 250 lacs
Rs. 500 lacs
Free Multicity Cheque leaves p.m.
Auto roaming facility @
Any Account Facility #
Upfront Facility $
Third party cash withdrawal per day at non base branch
^Cash Deposit & cash withdrawal (self) at non base branches is allowed up to Rs.1 lac per day in each case. If the cash deposit amount exceeds the ceiling of Rs.1 lac at non base centers', charges @Re.1 per Rs.1000 will be levied.
@ Auto Roaming facility: Auto up gradation /down gradation of the account will be done based on previous months AMB. Free benefits will be available based on the category
# Any Account facility: Account holder can have one UCCA account and can avail the benefit through his other CC/OD account tagged with the same customer id.
$ Upfront facility: New UCCA accounts are allowed free facility equal to AMB of Rs. 1 lac from day one.
All the above facilities entail the following additional benefits to the UCCA holder:
A Penalty of Rs. 2000 per month will be levied for non maintenance of minimum balance of Rs. 50,000 in the account.
Union Bank of India reserves the right to change/alter/withdraw the terms and conditions of the scheme.
Q1. Who can open a Union Classic Current Account ?
Ans. Union Classic Current Account (UCCA) is a Premium Current Account Product best suited for Traders, Corporates, Business Entities and Institutions. Apart from them any individual with a good net worth can open Union Classic Current Account.
Q2. Is there any minimum balance an account holder needs to maintain ?
Ans. There should be minimum average monthly balance (AMB) of INR. 50,000/- which is required to be maintained in the account to enjoy the benefits of UCCA.
Q3. Are there any rewards for maintaining a high balance in the Union Classic Current Account ?
Ans. Being a premier current account UCCA comes with three categories of AMB maintenance in the account, INR. 50,000/-, 1 lac and 5 lac. It provides various benefits to its holder under these three categories, over a normal current account. The details of these benefits are as under.
Q4. How is the Average Monthly Balance calculated on the Union Classic Current Account ?
Ans. The closing balance in the account is added on daily basis from 16th of every month to 15th of next month and then the total is divided with the number of days falling between the said period.
Q5. What is the difference in facilities provided under the different categories of AMB maintenance?
Ans. The facilities as mentioned in answer no-3 upgrades with the increase in AMB maintenance.
Q6. If an account holder initially opens the account with a lesser balance and then subsequently increases the balance substantially over a period of time, does he need to inform the bank to upgrade his facilities as per the AMB in account?
Ans. The UCCA account holder will enjoy an "UPFRONT FACILITY" i.e. facilities of Rs. 1 lac AMB even if he opens the account with a lower balance. However, the account holder needs to increases the average balance to the minimum AMB of Rs. 50,000 by the end of 1st AMB calculation cycle. If the account holder further scales up his AMB to a higher category then he need not to come to branch or tell the bank about the increase in balance. His account will upgrade automatically and he will enjoy the facility of the AMB category he falls into. This feature is known as "AUTO ROAMING".
Q7. Is "AUTO ROAMING" applicable to an account with diminishing balance?
Ans. Yes, Auto Roaming is applicable both ways, i.e. the account will be upgraded / downgraded with increasing as well as decreasing AMB.
Q8. How much cash can be deposited in the Union Classic Current Account in a day?
Ans. There is no such limit set for cash deposit in the account in single day, however free of charge cash deposit of Rs. 50 lac in a month is permitted for accounts falling under Rs. 50,000 to less than Rs.1 lac AMB category and Rs. 75 lacs for accounts falling under Rs. 1 lac to less than Rs. 5 lac AMB category. For account above Rs. 5 lacs of AMB unlimited cash deposit is permitted without any charge.
Q9. How much cash can be withdrawn from the Union Classic Current Account in a day?
Ans. There is no such limit set for cash withdrawal from the account in a single day. However cash withdrawal (self) at non home branch is allowed only up to Rs.1 lac per day.
Q10. Is the above mentioned facility for cash deposits is available on all non-base branches as well ?
Ans. Cash deposit at non-base branches is allowed upto 1 lac per day without any charges. If cash deposit amount exceeds the limit of 1 lac , charges @ Rs. 1 /- per thousand will be levied.
Q11. Are charges also applicable on cash withdrawal above 1 lac at no-base branches ?
Ans. Cash withdrawals above 1 lac is not permitted at non-base branches.
Q12. What are the remittances facilities provided to customers under UCCA?
Ans. Remittance like Demand Drafts, outstation cheques for collection, standing instructions, auto sweep can be carried out upto Rs. 250 lacs and Rs. 500 lacs for accounts maintaining an AMB of Rs. 50,000 and Rs. 1 lac respectively. For accounts maintaining an AMB of Rs. 5 lac and above, remittances are unlimited.
Q13. Is there any uniqueness to UCCA scheme?
Ans. UCCA scheme come with a very unique feature called "ANY ACCOUNT" where the account holder can enjoy the benefits of his UCCA account through any other CC/OD account tagged with same customer Id.
Q14. In case, an account holder is unable to maintain the minimum average monthly balance in the account then, is their any penalty ?
Ans. For non maintenance of AMB, the scheme dose not levy any penalization until the AMB falls below INR. 50,000/-
Q15. What is the penalization for non maintenance of this AMB of INR 50,000/- ?
Ans. In case AMB maintained in the account during any month falls short of INR. 50,000/- then the penalty will be charged during the subsequent months at INR. 2000/- per month.