UCO Bank FD Interest Rates
UCO bank FD rate ranges from 2.9% to 7.15% for different tenures. The Fixed Deposit scheme by UCO Bank offers multiple benefits. The UCO Bank FD Rates differ for the amount of principal invested and its tenure. Another reason for the fluctuation of UCO Bank FD Rates is the nature of the account holder. Senior citizens get a higher interest rate when compared to the other cadre of citizens.
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Features of IDFC Bank Fixed Deposit
UCO Bank FD Interest Rates in India (Domestic) 2023 – W.e.f. 09.01.2023
The following rates are for depositors of age 60 years and below (regular citizens).
| Maturity Period | Rate of Interest (%) |
| 7-14 days | 2.90 |
| 15-29 days | 2.90 |
| 30-45 days | 3.00 |
| 46-60 days | 4.00 |
| 61-90 days | 4.00 |
| 91-120 days | 4.50 |
| 121-150 days | 4.50 |
| 151-180 days | 5.00 |
| 181-364 days | 6.00 |
| 1 Year | 6.75 |
| Above 1 year up to 443 days | 6.50 |
| Above 445 days and up to 665 days | 6.50 |
| Above 667 days and up to 2 years | 6.50 |
| Above 2 Years and up to 3 years | 6.30 |
| Above 3 years and below 5 years | 6.20 |
| 5 years and above | 6.10 |
| 444 days | 7.00 |
| 666 days | 7.15 |
Note: Interest rates are subject to change.
Additional interest is payable on the deposits made by senior citizens/staff/ex-staff/ex-staff senior citizens. These rates are in addition to the regular rates for specified categories of individuals.
| Category | Tenure up to 1 Year | Tenure Above 1 Year |
| Staff | 1.00% | 1.00% |
| Senior Citizens | 0.25% | 0.50% |
| Retired Staff Senior Citizens | 1.25% | 1.50% |
UCO Bank Fixed Deposit
One of India’s premier financial Institutions, the UCO Bank is known for its qualitative deposit schemes.
Originated in 1943, the United Commercial Bank has a user-friendly net banking service with a detailed preview of the various schemes and services offered by this bank.
The two kinds of deposits offered by the UCO bank that are exceedingly popular among its customers are:
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Fixed deposit
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Recurring deposit
Domestic Bulk Term Deposit for 2 to 10 crores 2023 (w.e.f. 28.11.2022)
| Tenure | Regular Rate of Interest (%) |
| 7 days to 14 days | 5.90 |
| 15 days to 30 days | 5.90 |
| 31 days to 45 days | 6.15 |
| 46 days to 90 days | 6.15 |
| 91 days to 180 days | 6.15 |
| 181 days to 210 days | 6.15 |
| 211 days to 270 days | 6.15 |
| 271 days to 1 year | 7.20 |
| More than 1 year to 2 years | 7.20 |
| More than 2 years to 3 years | 5.50 |
| More than 3 years to 5 years | 5.50 |
| 5 years and above | 5.50 |
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UCO Bank FD Interest Rates in India (Non-Resident Indian)
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NRE Term Deposits of up to 2 crores 2023 – w.e.f. 09.01.2023
Tenure General Rate of Interest (%) 1 Year 6.75 Above 1 year to 2 years 6.50 Above 2 years to 3 years 6.30 Above 3 years to 5 years 6.20 5 years and above 6.10 -
Bulk NRE Term Deposit from 2 crores to 10 crores 2023 – w.e.f. 10.03.2023
Tenure Regular FD rates (p.a.) (%) 1 year 7.10 More than 1 year to 2 years 7.10 More than 2 years to 3 years 5.50 More than 3 years to 5 years 5.50 Above 5 years 5.50 -
Bulk NRE Term Deposit 10 crores to 100 crores – w.e.f. 10.03.2023
Tenure General Rate of Interest (%) 1 year 7.10 Above 1 year up to 2 years 7.10 Above 2 years up to 5 years 5.50 Above 5 years 5.50 Note: All interest rates mentioned here are subject to change at the sole discretion of the bank. Please confirm the rates with your bank or relationship manager before making the final decision.
Customers should also contact the nearest UCO Bank branch to make deposits of 10 crores and above.
Features of UCO Bank Fixed Deposit
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Investment Amount
One should invest a minimum of INR 1,000 in opening an FD account in UCO bank. However, there is no limit to the maximum amount. The investor can allocate any amount in multiples of 1,000 thereafter to receive higher interest rates.
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Tenure
7 days is the minimum tenure of the UCO Bank FD deposit. The maximum tenure is regarded as 10 years by the bank.
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Interest Rate
One can fetch 2.75% as the minimum interest rate. The maximum interest rate for FD deposits is 7.15%.
Types of UCO Bank FDs
The FD schemes of UCO Bank are available with two payout modes:
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Monthly pay-out: Under this mode, the investor may withdraw the interest amount he generates on a monthly basis.
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Quarterly pay-out: Under this mode, the investor is likely to withdraw the income quarterly. However, the interest keeps accumulating on a monthly basis.
All investors can use the FD calculator available on the bank’s website that helps choose the right Fixed Deposit Scheme to suit customized needs or goals.
About UCO Bank Fixed Deposit Interest Rate Calculator
UCO Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:
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Amount that is invested
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Rate of Interest offered
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Tenure of the Fixed Deposit Account
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Compounding period, that is, yearly, half-yearly, quarterly, or monthly
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FD Amount
Once entered the following details, an investor will come to know:
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Maturity value of the FD
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Total interest earned during the complete tenure
Tax Implications
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The amount invested in Fixed Deposit with tenure of 5 years with UCO Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
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The applicable tax will be deducted at source, i.e. UCO Bank, in case the annual interest earned crosses Rs. 10,000.
Note: Tax benefit is subject to changes in tax laws.
FAQ's
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What are the required documents to open an FD account?
The following documents are required for opening an FD account:- FD application form
- Proof of Identity
- Proof of address
- Two passport-size color photographs
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Who are eligible to open an account in UCO Bank?
The following types of individuals are eligible to open an FD account with the bank:- Resident Indian
- Partnership firms
- Joint-stock companies
- Educational institutions and trusts
- Executors and administrators
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Is premature withdrawal allowed in UCO Bank fixed deposits?
Premature withdrawal of funds is allowed with a penalty of 1% on the interest of FD. -
Is a PAN card mandatory to open an FD account in UCO Bank?
A PAN card is not mandatory. However, the bank is entitled to deduct 20% TDS instead of 10%. -
Am I allowed to make an additional payment in the existing FD?
Additional payment is not allowed. However, the depositor may open a new FD account.
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