A UCO Bank FD account can help individuals seeking secure and rewarding financial opportunities. Along with attractive UCO Bank FD rates, the bank also offers a user-friendly FD calculator to help you plan your investments with ease. Moreover, senior citizens are in for exclusive benefits, as the bank offers preferential FD rates for senior citizens.
The table represents the interest rates offered by UCO Bank FDs for both regular and senior citizens.
|Tenure||Interest Rates (% p.a.) For Regular Citizens||Interest Rates (% p.a.) For Senior Citizens|
|7 – 29 days||2.90||3.15|
|30 – 45 days||3.00||3.25|
|46 – 90 days||4.00||4.25|
|91 – 150 days||4.50||4.75|
|151 – 180 days||5.00||5.25|
|181 – 364 days||6.00||6.25|
|Above 1 – 2 years||6.50||7.00|
|Above 2 – 3 years||6.30||6.80|
|Above 3 – 5 years||6.20||6.70|
|Above 5 years||6.10||6.60|
You can open a UCO Bank FD if one of the following organisations:
- Indian nationals
- Individuals that live there
- Non-Resident Indian Persons
- HUF (Hindu Undivided Family)
The following paperwork must be submitted in order to start an FD account at UCO Bank.
- KYC documents including a driver’s license, a PAN card, an Aadhaar card, a phone bill, an electricity bill, etc.
- Passport-sized images
- Form for applying to UCO Bank FD
- A bank statement and a check that serves as proof of income
Here’s a list of UCO Bank FD schemes:
- UCO Bank Kuber Yojana Scheme
UCO Bank Kuber Yojana Scheme offers compounded interest on a quarterly basis through reinvestment. The minimum investment required is Rs. 1,000, and the maturity period ranges from 6 months to 10 years. Interest payout is cumulative.
- UCO Monthly Income Deposit Scheme
UCO Monthly Income Deposit Scheme has a tenure of 5 years and requires a minimum deposit of Rs. 50,000, with a maximum limit of Rs. 1 crore. Interest is paid on the first day of every month, and premature withdrawals are allowed with a 1% penalty. Depositors can avail loans and overdraft facilities against the deposit, and the nomination is available.
- UCO Tax Saver Fixed Deposit Scheme 2006
It offers tax exemptions under Section 80C of the Income Tax Act. The minimum deposit is Rs. 100, while the maximum is Rs. 1.50 lakh, with a deposit period of 5 years. It can be operated as a joint account by two adults or one minor and an adult. Premature withdrawals are not allowed, and loans cannot be secured against the deposit. Interest income is taxed under TDS.
- UCO Bank Flexible FD Scheme
This scheme comes with a reinvestment plan and allows partial withdrawals. Even after withdrawal, the remaining funds continue to earn interest. Depositors can withdraw money in units of Rs. 5,000, offering flexibility and convenience.
This table shows the interest rates offered by the bank for fixed deposits (FDs) with different tenures. The rates remain consistent at 3% for tenures of 91 days to 180 days, 181 days to 210 days, and 211 days to 270 days. Have a look for more details:
|Tenure||Interest Rates for the General Public (p.a.)|
|7 – 90 days||2.75%|
|91 – 270 days||3.00%|
|271 days – 5+ years||3.25%|
For the general public, the interest rates range from 2.75% to 5.00%, while senior citizens are offered higher rates ranging from 3.00% to 5.25%.
|Tenure||General Public (p.a.)||Senior Citizens (p.a.)|
|7 – 29 days||2.75%||3.00%|
|30 – 45 days||3.00%||3.25%|
|46 – 90 days||3.75%||4.00%|
|91 – 180 days||3.90%||4.15%|
|181 – 364 days||4.70%||4.95%|
|> 1 – 3 years||4.90%||5.40%|
|> 3 to 5+ years||4.85%||5.35%|
Here’s a list of 3 tables with details for Domestic/ NRO/NRE fixed deposits with their maturity period and interest rate (p.a):
- Table 1 represents fixed deposit rates for the NRO category:
|Maturity Period||FD Interest Rate (p.a.)|
|30 – 45 Days||3.00%|
|60 – 90 Days||3.75%|
|120 – 180 Days||3.90%|
|12 Months – 3 years||5.00%|
|4 – 10 Years||4.95%|
2. Table 2 represents fixed deposit rates for the NRE category:
|Maturity Period||Interest Rate (p.a.)|
|1 – 2 Years||6.50%|
|5 – 5+ Years||6.10%|
3. Table 3 represents fixed deposit rates for the Domestic category:
|Maturity Period||Interest Rate (p.a)|
|Above 1- 2 years||6.50%|
|Above 2yrs – 3yrs||6.30%|
|Above 3yrs – 5yrs||6.20%|
|Above 5 yrs||6.10%|
UCO Bank FD stands out as a reliable and customer-friendly option for prudent investors. The bank’s competitive FD rates ensure steady growth in your savings, accompanied by the convenience of the FD calculator for effective financial planning. UCO Bank extends special advantages with UCO Bank FD rates for senior citizens.
UCO Bank Fixed Deposits FAQ’s :-
Early withdrawals from fixed deposits are permitted by UCO Bank. The agreed-upon interest rate will be reduced by 1% as a penalty.
In UCO Bank, a fixed deposit account holder can very easily obtain a loan against a fixed deposit.
The Tax Saver FD has a 5-year maturity period.