UCO Bank offers an excellent opportunity to invest your extra funds and earn lucrative interest over an extended period through fixed deposits. These fixed deposits are available for both resident Indians and non-resident Indians. The interest rates for domestic term FDs vary from 2.90% p.a. to 7.05% p.a., with the added advantage of flexible repayment periods ranging from 7 days to 5 years and beyond. Senior citizens can also enjoy an additional interest rate of up to 0.50% p.a. higher than the general public.
UCO Bank Fixed Deposit Rates
The table below shows the deposit FD rates offered by UCO Bank for various durations to both regular citizens and senior citizens for deposits up to Rs. 2 crore.
| Tenure | Interest Rates (p.a.) | Annualised Yield |
|---|---|---|
| 7-14 days | 2.90% | 2.90% |
| 15-29 days | 2.90% | 2.90% |
| 30-45 days | 3.00% | 3.00% |
| 46-60 days | 4.00% | 4.00% |
| 61-90 days | 4.00% | 4.00% |
| 91-120 days | 4.50% | 4.50% |
| 121-150 days | 4.50% | 4.51% |
| 151-180 days | 5.00% | 5.02% |
| 181-364 days | 5.50% | 5.54% |
| 1 Year | 6.50% | 6.66% |
| Above 1 Yr– 2 Yrs | 6.50% | 6.66% |
| Above 2 Yr – 3 Yrs | 6.30% | 6.66% |
| Above 3 Yr – 5 Yrs | 6.20% | 6.76% |
| Above 5 Yrs | 6.10% | 7.07% |
| 400 days | 7.05% | - |
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*Note: Interest rates are subject to change. Please visit the official UCO Bank website for the most recent updates. Also note, 400 Days FD is effective from 8th Oct 2023 onwards.UCO Bank FD Rates for Senior Citizens
Check UCO Bank senior citizen fixed deposit rates for domestic deposits below 2 crores.
| Tenure | Interest Rates (p.a.) |
|---|---|
| 7-14 days | 3.15% |
| 15-29 days | 3.15% |
| 30-45 days | 3.25% |
| 46-60 days | 4.25% |
| 61-90 days | 4.25% |
| 91-120 days | 4.75% |
| 121-150 days | 4.75% |
| 151-180 days | 5.25% |
| 181-364 days | 5.75% |
| 1 Year | 6.75% |
| Above 1 Yr– 2 Yrs | 6.75% |
| Above 2 Yr – 3 Yrs | 6.55% |
| Above 3 Yr – 5 Yrs | 6.45% |
| Above 5 Yrs | 6.35% |
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*Note: Interest rates are subject to change. Please visit the official UCO Bank website for the most recent updates.Looking for a personal loan?
Special FD Rates for UCO Bank Staff:
UCO Bank offers additional interest on deposits from bank Staff/ Ex Staff / Ex Staff Senior Citizen above the ‘General Customer Interest Rate’.
For staff, an additional interest rate of 1% is offered for tenures of up to 1 year. For retired staff senior citizen, additional interest of 1.25% is offered for tenure up to 1 year and 1.50% for tenure above 1 year.
UCO FD Rates for Bulk Deposits
Check the UCO Bank FD rates for bulk deposits above 2 crores to 10 crores. Below is a table showing UCO Bank Bulk FD rates from 2 crores to 10 crores. As the below showcased interest rates are the yield that come with predetermined lock-in period (non-callable)
| Maturity Period | Interest Rates (p.a) | Interest Rates (p.a) (Non-Callable) |
|---|---|---|
| 7-14 days | 5.90% | 5.90% |
| 15-30 days | 5.90% | 5.90% |
| 31-45 days | 6.15% | 6.20% |
| 46-90 days | 6.15% | 6.20% |
| 91-180 days | 6.15% | 6.20% |
| 181-210 days | 6.15% | 6.20% |
| 211-270 days | 6.15% | 6.20% |
| 271 Days to 1 Years | 6.75% | 6.80% |
| Above 1 Year to 2 Years | 6.50% | 6.55% |
| Above 2 Year to 3 Years | 6.00% | 6.05% |
| Above 3 Year to 5 Years | 5.50% | 5.55% |
| Above 5 Years | 5.50% | - |
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Note: The interest rates may change. Refer to UCO Bank's official website for the latest information.Also note, for deposits above 10 Crores, depositors are requested to contact the nearest UCO bank branch.
UCO Bank Tax Saver FD
The following table shows the interest rate on UCO Bank Tax Saver FDs:
| Tenure | Interest Rate (% p.a.) Regular Citizens |
Interest Rate (% p.a.) Senior Citizens |
|---|---|---|
| 5 years | 6.20 | 6.70 |
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UCO Bank FD Calculator
A convenient way to estimate potential returns on your UCO Bank FD investment is by using an FD calculator. This tool breaks down your maturity value into the principal amount and interest earned for a clearer understanding of your earnings. Explore the UCO Bank FD calculator to swiftly determine your UCO bank interest earnings.
| FD Maturity Date | : |
| Deposit Amount | : ₹10,000 |
| Interest Amount | : ₹666 |
| Total Amount at Maturity | : ₹10666 |
UCO Bank NRE Deposit Rates
Table below shows UCO Bank NRE deposit rates below ₹2 crores.
| Tenure | Regular FD rates (p.a.) |
|---|---|
| 1 year | 6.75% |
| More than 1 year to 2 years | 6.50% |
| More than 2 years to 3 years | 6.30% |
| More than 3 years to 5 years | 6.20% |
| Above 5 years | 6.10% |
| 444 days | 7.05% |
| 666 days | 7.20% |
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UCO Bank FNCR Deposit Interest Rates
Following is a table with the UCO Bank FNCR deposit interest rates and terms.
| Tenure | USD | GBP | EUR | JPY | CAD | AUD | CHF | SGD | HKD |
|---|---|---|---|---|---|---|---|---|---|
| 1 Yr to 2 Yrs | 5.10 | 4.00 | 2.00 | 0.11 | 4.00 | 3.30 | 0.00 | 0.75 | 0.75 |
| Above 2 Yrs to 3 Yrs | 5.00 | 2.80 | 1.30 | 0.13 | 3.80 | 3.00 | 0.02 | 0.90 | 0.85 |
| Above 3 Yrs to 4 Yrs | 3.60 | 2.30 | 0.50 | 0.13 | 2.80 | 2.10 | 0.07 | 0.90 | 0.85 |
| Above 4 Yrs to 5 Yrs | 3.65 | 2.30 | 0.50 | 0.14 | 2.80 | 2.20 | 0.07 | 0.90 | 0.85 |
| Above 5 Yrs | 3.65 | 2.30 | 0.50 | 0.17 | 2.80 | 2.25 | 0.07 | 0.90 | 0.85 |
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Features & Benefits of UCO Bank Fixed Deposit
UCO Bank Fixed Deposits provide investors with a range of advantages. Here are some key features that help you with your investment journey:
- Attractive Interest Rates: UCO Bank offers competitive interest rates on fixed deposits, providing an opportunity for maximized returns on your investment.
- Flexible Tenure Options: Choose from a range of flexible tenure options to align with your financial goals, ranging from short-term to long-term durations.
- Varied Deposit Schemes: UCO Bank provides various fixed deposit schemes to cater to diverse investor preferences, allowing you to select the one that suits your needs.
- Senior Citizen Benefits: Enjoy additional benefits with special interest rates for senior citizens, enhancing returns for those in the senior age bracket.
- Nomination Facility: UCO Bank FDs offer the convenience of nomination, allowing you to designate a nominee for your deposit, ensuring a smooth transfer of benefits in case of unforeseen events.
- Loan Against FD: UCO Bank provides the option to avail loans against your fixed deposit, offering liquidity and financial flexibility when needed.
- Auto-Renewal Facility: Opt for the auto-renewal facility to seamlessly reinvest your matured FD for an extended tenure, eliminating the need for manual renewal instructions.
- Tax-Saving Fixed Deposit: Benefit from tax-saving opportunities with UCO Bank's tax-saving fixed deposit scheme, providing deductions under Section 80C of the Income Tax Act.
- Online FD Calculator: Use the UCO Bank FD calculator online to easily compute potential returns, making informed decisions about your investment.
- Safety and Reliability: UCO Bank is a trusted financial institution, ensuring the safety and reliability of your fixed deposit investments.
- Interest Payment Options: Choose between monthly, quarterly, or cumulative interest payment options based on your preference and financial requirements.
UCO Bank FD Account Eligibility
Eligibility for UCO Bank FD schemes is determined by the following criteria:
- Individuals must be Indian citizens.
- Members of Hindu Undivided Families (HUF) are eligible.
- Companies, trusts, and societies are also eligible to apply for a UCO Bank FD plan.
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Documents Required to Open UCO Bank FD
To initiate your investments with UCO Bank, investors are required to submit the following documents:
- KYC documents serving as identity and address proof, which may include Aadhaar card, PAN card, driving license, and utility bills such as electricity or telephone bills.
- Bank statement, accompanied by a cheque, serves as income proof.
- Passport-size photographs.
- Completed UCO Bank FD application form
Premature Closure of UCO Bank Fixed Deposit
Fixed deposit accounts are prematurely closed when the deposit amount is withdrawn before the maturity period has expired. UCO Bank allows for premature withdrawal of their Fixed Deposits with a penalty of 1% interest below the agreed contractual interest rate imposed.
Types of UCO Bank Fixed Deposits
UCO Bank presents a range of FD schemes designed to meet the requirements of distinct depositors. Explore the domestic FD scheme provided by UCO Bank below.
Kuber Yojana (Regular Fixed Deposit with reinvestment of interest component)
This is a fixed deposit with a long-term horizon, where the interest component is reinvested, leveraging the benefits of compounding. The deposit can be initiated with a minimum amount of Rs 1,000, and it offers a flexible tenure ranging from 6 months to 10 years. The interest is compounded quarterly.
UCO 400 Days Fixed Deposit Scheme
For this scheme, a minimum deposit of Rs 5,000 (in multiples of Rs 1,000 thereafter) is required. The scheme is valid until December 31, 2023. Depositors can opt for interest payouts at either quarterly or monthly rests, or choose to receive the interest payout at maturity with quarterly compounding. Senior citizens benefit from additional FD rates of up to 0.50% p.a. Nomination and loan/overdraft facilities are available, but auto-renewal is not permitted.
UCO Monthly Income Scheme
This scheme requires a minimum deposit of Rs. 50,000 (in multiples of Rs.10,000 thereafter) and accepts deposits up to a maximum of Rs. 1 crore, with a fixed tenure of 5 years. Simple interest rates are paid without discounting and credited on the first day of the month following the account opening. The scheme provides a nomination facility and permits loan/overdraft facilities against the deposits. In the case of premature withdrawals, interest will be paid at 1% below the applicable card rate if the regular fixed deposit remains with the bank. It's important to note that this scheme is not transferable.
Flexible Fixed Deposit Scheme
Under this scheme, deposits operate under a reinvestment plan, allowing partial withdrawals without affecting the remaining account. The untouched portion continues to earn interest at the agreed-upon rate. Withdrawals are permitted in multiples of Rs.5,000.
UCO Tax Saver Deposit Scheme – 2006
Deposits in this scheme qualify for a deduction of up to Rs 1.5 lakhs under section 80C of the Income Tax Act. The deposit amount ranges from a minimum of Rs 100 to a maximum of Rs 1.5 lakhs in a year (1st April- 31st March), with a fixed tenure of 5 years. The scheme offers a nomination facility and allows transfers between branches. However, it does not permit loans against deposits or pledging of deposit receipts.
MACTDA (Motor Accident Claim Term Deposit Account)
This program is in the interest for motor accident beneficiaries/victims. Here, the simple interest is paid for the first 6 months, and then compound interest is applied to your term amount. However, transfering the deposit account or closing it prematurely, and loans/advances are not allowed.
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Frequently Asked Questions
The UCO Bank FD interest rates varies from from 2.90% p.a. to 7.20% p.a. for the general public depending on the tenure.
Indian residents and NRIs can open FD accounts with UCO Bank. Specific eligibility criteria might apply to specific schemes, so check the website for details.
The highest UCO Bank FD rate is 7.05% p.a. (effective form 10th Oct 2023), offered for a tenure of 400 days. Remember, rates are subject to change.
Premature withdrawals are allowed, but they attract a penalty fee and reduce your overall interest earnings.
UCO Bank FDs offer tenures ranging from 7 days to 120 months (10 years). Minimum deposit amounts vary depending on the chosen scheme.
Yes, penalties apply for early withdrawals. The penalty amount varies based on the withdrawal period and chosen scheme. Consult the bank or their website for specific details.
There's no fixed answer as it depends on several factors like initial deposit, interest rate, and compounding frequency. Utilize UCO Bank's online FD calculator for personalized estimates.
The minimum deposit amount varies depending on the chosen FD scheme. Generally, it starts from Rs. 1,000.
Senior citizens (aged 60+) enjoy an additional 0.50% interest rate (for tenure above 1 year) on most UCO Bank FD schemes.
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