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UCO Bank FD Interest Rates

UCO Bank is one of the largest government banks of India. It offers attractive interest rates of fixed deposit schemes for both their regular individuals and senior citizens. UCO Bank provides both short-term and long-term FDs. It gives higher interest rates on its FDs than the UCO Bank deposit rates on saving accounts. Also, the bank provides special interest rates for senior citizens on their FD investments. Moreover, the UCO Bank FD Calculator helps to choose the right FDs plan that suits customer needs.

Features & Benefits of UCO Bank FDs Rates

Mentioned below are the features & benefits of UCO Bank FDs Interest Rates-

  • Interest generated at quarterly intervals
  • At maturity Interest is paid out 
  • High rate of interest
  • Provide user-friendly internet banking
  • Available Nomination facility
  • Renewal of FDs option is also available
  • Different range of schemes for different requirements
  • Under Section 80C tax Saver FD provides income tax benefits of the Income Tax Act.
  • Flexible Fixed Deposit scheme for premature encashment allows in multiples of Rs.5,000 without affecting the contracted interest rate of the balance amount

 

UCO Banks FDs Rates 2021

FD Tenure Interest Rate (in %) on Deposits less than Rs 2 crore
For Regular Citizen For Senior Citizen
7 – 14 Days 2.75% 3.00%
15 – 29 Days 2.75% 3.00%
30 – 45 Days 3.00% 3.25%
46 – 60 Days 3.75% 4.00%
61 – 90 Days 3.75% 4.00%
91 – 120 Days 3.90% 4.15%
121 – 150 Days 3.90% 4.15%
151-180  Days 3.90% 4.15%
181 to 364 days 4.70% 4.95%
1 year 5.00% 5.25%
More than 1 year up to 2 Years 5.00% 5.25%
Above 2 Years up to 3 Years 5.00% 5.25%
Above 3 Years and less than 5 Years 4.95% 5.45%
5 years and above 4.95% 5.45%

Types of UCO Bank Fixed Deposits

Here are the types of UCO Bank FDs offered :

  • UCO Bank FD scheme
  • Flexible FD scheme
  • UCO Tax Saver Deposit scheme
  • UCO Monthly Income Scheme
  • Kuber Yojana
  • Term Deposit Scheme UCOVAXI

 

Eligibility Criteria For UCO Bank FDs

Here are the following entities who are eligible for UCO Bank FDs-

  • Individuals
  • Hindu Undivided family
  • Jointly two adults or jointly by an adult and a minor, and either pay to the holders or to the survivor
  • Joint Stock Companies
  • Executors & Administrators in their names
  • Clubs
  • Societies
  • Associations
  • Educational Institutions
  • Trusts
  • Sole Proprietory Concern
  • Partnership Firms

 

How To Calculate UCO Banks FDs Interest Rates

UCO Bank FDs provides an interest calculator to calculate the principal amount, rate of interest, and compound interest on monthly, quarterly, half-yearly, or annual intervals, to determine the overall sum amount including interest. So, with the help of the UCO Bank FDs Calculator, you can easily check your earnings on the deposit amount. This calculator makes the calculation process simple and easy, you just need to enter the following numbers:

  • Principal amount,
  • Rate of Interest, and,
  • Period (in No. of Months) or years (as identified in the calculator)

 

You need to deposit the tenure (in months), amount, rate of interest, and the kind of fixed deposit scheme you need to apply for – and the calculator will calculate the number present to you with a breakup of the interest earned and the maturity amount. Using UCO Bank FD Calculator offers you exact, error-free and accurate results.

Moreover, there are many online sites that help you to instantly calculate the interest earned on your FD. You can use such online methods to calculate the interest generated on your UCO Bank FD. Many differences can enter as you want, to determine how much amount you want to invest and the interest generated on the deposited principal amount. The UCO Bank FDs calculator eliminates all the manual calculations and you can also see the bank’s recent interest rates and tenures for the most accurate results.

Factors Affecting UCO Bank Fixed Deposit Rates

Here are the following factors that affect UCO Bank Fds Rates-

  1. For short-term FDs of UCO Bank, the tenures range from 1-9 months where the interest rates can lie between 5.6% per annum to 7.35% per annum. For two months of holding period, the returns can be fixed at 6.1% per annum whereas, for the tenure of three months the interest rate is 6.6% per annum. Moreover, for four and six months of tenure, the interest rate is generated at 7.1% per annum and 7.35% per annum respectively.
  2. For mid-term and long-term FDs, the interest rate calculated is at 7.75% per annum for the holding period of one year up to three years. Moreover, for the holding period of five years, it is decreased by 0.25% to 7.50% per annum.
  3. UCO Bank provides an additional 0.25% of interest rate increase for the senior citizens in their fixed deposit holdings. Hence, the rate of interest is calculated in the range of 5.85% to 8% per annum for the short-term fixed deposit of one month to one year. However, the senior citizens gain more profit with the long-term holdings. The rate of interest is calculated in the range of 8.25% to 8% per annum for the holding period of two years and up to five years.

 

FAQs:

What is the duration of the UCO BANK FD account held?

You can choose deposits for periods of 15 days to 120 months depending on the different kinds of FD.

What is the minimum amount to open a UCO Bank FD account?

To open an FD account in UCO Bank the minimum amount is Rs. 1,000.

Are UCO Bank FDs providing any special rates for senior citizens?

Yes, UCO Bank FDs provide an additional interest rate of 0.50% for senior citizens.

What is UCO Bank's highest interest rate in FDs?

The maximum interest in UCO Bank of FDs is 5.00%.

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