Product Details
Bank Name
UCO Bank
Account Name
Motor Accident Claim Tribunal SB Account
Account Type
Motor Accident Claims Tribunal SB Account (MACTSBA)
Interest Rate
Upto Rs 10 lakhs 2.60% (Linked with Repo)
over Rs 10 lakhs 2.75% (Not Linked with Repo)
Free Debit Card
By default, these facilities are not available in this product.
ATM Card or Cheque Book shall not be issued without the permission of the Court.
Account Opening Fees
0
Annual Maintenance Fees
Nil
Minimum Account Balance
Zero Balance Account
Debit Card Charges
NEFT Charges
IMPS Charges
Fees and Charges
Motor Accident Claim Tribunal SB Account
Special Features
Eligibility Criteria
Beneficiaries or victims of Motor Accidents (as per court order).
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Zero Balance account For victims of Motor Accident.
This account will be free from any type of service charges.
To be used for crediting FD maturity amount (monthly).
Cons
Motor Accident Claim Tribunal SB Account Review
The account is for the purposes of crediting of amount in case of motor account. The account offers quite low interest rate.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai