UCO Bank FD Interest Rates (p.a.) Highlights | |
| Highest slab rate | 5.60% (for above 3 years to less than 5 years) |
| For 1 year | 5.30% |
| For 2 years | 5.30% |
| For 3 years | 5.30% |
| For 4 years | 5.60% |
| For 5 years | 5.30% |
| Tax-Saving FD | 5.30% |
The interest rates are updated as of 22 September 2022
UCO Bank FD Rates
Fixed Deposit Rates on Domestic deposits of less than Rs 2 crore w.e.f. 10 May 2022
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 7 days to 14 days | 2.55 | 2.80 |
| 15 days to 29 days | 2.55 | 2.80 |
| 30 days to 45 days | 2.80 | 3.05 |
| 46 days to 60 days | 3.55 | 3.80 |
| 61 days to 90 days | 3.55 | 3.80 |
| 91 days to 120 days | 3.70 | 3.95 |
| 121 days to 150 days | 3.70 | 3.95 |
| 151 days to 180 days | 3.70 | 3.95 |
| 181 days to 364 days | 4.40 | 4.65 |
| 1 year | 5.30 | 5.55 |
| More than 1 year to 2 years | 5.30 | 5.80 |
| Above 2 years to 3 years | 5.30 | 5.80 |
| Above 3 years to less than 5 years | 5.60 | 6.10 |
| 5 years and above | 5.30 | 5.80 |
UCO Bank Tax Saver Deposit (UCO Tax Saver Scheme)
| Tenure | Interest Rate (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years | 5.30 | 5.80 |
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Interest Rates on Domestic Bulk Fixed Deposits from Rs 2 crore to Rs 5 crore w.e.f. 1 July 2022
| Tenure | Interest Rates (% p.a.) |
| 7 days to 14 days | 4.50 |
| 15 days to 30 days | 4.50 |
| 31 days to 45 days | 4.50 |
| 46 days to 90 days | 4.50 |
| 91 days to 180 days | 4.60 |
| 181 days to 210 days | 4.60 |
| 211 days to 270 days | 4.60 |
| 271 days to 1 year | 6.35 |
| Above 1 year to 2 years | 6.35 |
| Above 2 years to 3 years | 5.00 |
| Above 3 years to 5 years | 5.00 |
| Above 5 years | 5.00 |
Interest rates on Non-Resident External (NRE) Fixed Deposits of less than Rs 2 crore w.e.f 2 August 2022
| Tenure | Interest Rates (% p.a.) |
| Up to 1 year | 5.30 |
| Above 1 year to 2 years | 5.60 |
| Above 2 years to 3 years | 5.60 |
| Above 3 years to 5 years | 5.90 |
| Above 5 years | 5.60 |
Special NRE Fixed Deposit Rate
| Tenure | Interest Rates (% p.a.) |
| 1 year | 6.70 |
Interest rates on FCNR (B) deposits w.e.f. 12 August 2022
| Currency | Interest Rates (% p.a.) | ||||
| 1 year to less than 2 years | 2 years to less than 3 years | 3 years to less than 4 years | 4 years to less than 5 years | 5 years only | |
| USD | 3.20 | 2.70 | 2.00 | 2.00 | 2.00 |
| GBP | 2.00 | 2.17 | 2.00 | 2.00 | 2.00 |
| EUR | 0.10 | 0.15 | 0.12 | 0.12 | 0.12 |
| JPY | 0.11 | 0.13 | 0.13 | 0.14 | 0.17 |
| CAD | 1.94 | 2.79 | 1.96 | 1.96 | 1.96 |
| AUD | 1.35 | 1.85 | 1.35 | 1.35 | 1.35 |
| CHF | 0.00 | 0.02 | 0.07 | 0.07 | 0.07 |
| SGD | 0.75 | 0.90 | 0.90 | 0.90 | 0.90 |
| HKD | 0.75 | 0.85 | 0.85 | 0.85 | 0.85 |
Interest rates on RFC Deposits w.e.f. 12 August 2022
| Currency | Interest Rates (% p.a.) | ||||
| 1 year to less than 2 years | 2 years to less than 3 years | 3 years to less than 4 years | 4 years to less than 5 years | 5 years only | |
| USD | 3.20 | 2.70 | 2.00 | 2.00 | 2.00 |
| GBP | 2.00 | 2.17 | 2.00 | 2.00 | 2.00 |
| EUR | 0.10 | 0.15 | 0.12 | 0.12 | 0.12 |
| JPY | 0.11 | 0.13 | 0.13 | 0.14 | 0.17 |
| CAD | 1.94 | 2.79 | 1.96 | 1.96 | 1.96 |
| AUD | 1.35 | 1.85 | 1.35 | 1.35 | 1.35 |
| CHF | 0.00 | 0.02 | 0.07 | 0.07 | 0.07 |
| SGD | 0.75 | 0.90 | 0.90 | 0.90 | 0.90 |
| HKD | 0.75 | 0.85 | 0.85 | 0.85 | 0.85 |
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Types of UCO Bank FD Schemes
Kuber Yojana (Regular Fixed Deposit with reinvestment of interest component)
- This is a long-term fixed deposit in which the interest component is reinvested and thereby, helps in deriving the power of compounding
- Minimum amount of deposit: Rs 1,000
- Tenure: 6 months – 10 years
UCO Monthly Income Scheme
- Deposit amount: Minimum: Rs. 50,000 (in multiples of Rs.10,000 thereafter); Maximum: Rs 1 crore
- Tenure: 5 years
- The simple interest rate will be paid without discounting and credited on the first day of the month following the month in which the account was opened
- Nomination facility is available
- Loan/Overdraft facility against the deposits is permitted
- In case of premature withdrawals, interest will be paid at 1% below the applicable card rate if the regular fixed deposit remains with the bank as on the date of the deposit, and not at the contractual rate
- This scheme is not transferable
Flexible Fixed Deposit Scheme
- In this scheme, deposits are taken under a reinvestment plan, which means that a portion of the deposit can be withdrawn early without affecting the remainder of the account, which continues to earn interest at the agreed rate
- Withdrawal is permitted in multiples of Rs.5,000
UCO Tax Saver Deposit Scheme – 2006
- Deposits are eligible for deduction of up to Rs 1.5 lakhs under section 80C of the Income Tax Act
- Deposit amount: Minimum- Rs 100; Maximum- Rs 1.5 lakhs in a year (1st April- 31st March)
- Tenure: 5 years
- Nomination facility is available
- Transfer from one branch to another is allowed
- Loan against deposit and pledging of deposit receipt is not permitted
MACTDA (Motor Accident Claim Term Deposit Account)
- Eligibility: Beneficiaries/Victims of Motor Accidents
- Simple interest will be paid for the first 6 months, after which compound interest will be paid for the remaining months
- Transfer of deposit account and premature closure is not permitted
- Loan/advance is not allowed
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Foreign Currency Non-resident (FCNR-B) Deposits
- Depositors can hold deposits in any of the 9 foreign currencies: US dollar (USD), Pound sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), Australian Dollar (AUD), Swiss franc (CHF), Singapore dollar (SGD) and Hong Kong dollar (HKD)
- Minimum amount of deposit: USD 2,000 or it’s equivalent in any of the hard currencies
- Tenure: 1 year – 5 years
- The principal, as well as interest earned, are fully repatriable
- An automatic renewal and nomination facility is available
- Loans against deposits are permitted
Resident Foreign Currency (RFC) Deposits
- Depositors can hold deposits in any of the 9 foreign currencies: US dollar (USD), Pound sterling (GBP), Euro (EUR), Japanese Yen (JPY), Canadian Dollar (CAD), Australian Dollar (AUD), Swiss franc (CHF), Singapore dollar (SGD) and Hong Kong dollar (HKD)
- Minimum amount of deposit: USD 2,000 or its equivalent in any of the hard currencies
- The deposits can be transferred into an FCNR (B) or NRE account
Premature Closure Of Fixed Deposits-Penalty Charges
| S. No. | Term Deposits | Penal Charges |
| 1 | Less than Rs. 15 lakhs | 1% less than the applicable interest rate for the period of deposit at the time of FD opening or the current interest rate for the period during which the FD remained with the bank, whichever is lower |
| 2 | Rs. 15 lakhs to less than Rs. 1 crore | 1% less than the applicable interest rate for the period of deposit at the time of FD opening or the current interest rate for the period during which the FD remained with the bank, whichever is lower |
| 3 | Rs. 1 crore and above | 2% less than the applicable rate for which the deposit of Rs. 1 crore and above remained with the bank as on the date of deposit or the current rate for the same period as on the date of premature closure, whichever is lower |
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UCO Bank FD Calculator
Investors can check the maturity amount of their UCO Bank Fixed Deposits using Paisabazaar’s FD Calculator. The investors need to enter the amount they wish to deposit, preferred tenure of investment, and the rate of interest to know how much their investment will be worth at maturity. Alternatively, customers can check the interest and maturity amount for reinvestment schemes using Paisabazaar’s compound interest calculator.
FAQs
Q. What is the minimum & maximum period for the UCO Bank Fixed Deposit account?
A. The minimum & maximum period for UCO Bank Fixed Deposit account is 7 days & 10 years respectively.
Q. What is the minimum deposit amount under UCO fixed deposit scheme?
A. The minimum deposit amount under UCO fixed deposit scheme is Rs. 1,000.
Q. What are the various types of UCO Bank fixed deposit schemes?
A. The various types of UCO Bank fixed deposit schemes are:
- UCO Bank Fixed Deposit Account
- Kuber Yojna
- UCO Monthly Income Scheme
- UCO Tax Saver Deposit Scheme
- Flexible Fixed Deposit Scheme
Q. Can an account holder close his/her UCO Bank FD anytime?
A. Yes, an account holder can close his/her UCO Bank FD anytime except for the UCO Tax Saver Deposit Scheme which comes with a lock-in period of 5 years.
Q. Is there a penalty for premature withdrawal?
A. Yes, UCO Bank charges maximum 2% as a premature withdrawal penalty. The premature withdrawal penalty will be deducted from the applicable rate for which the term deposit was held by the branch as on the date of deposit or the prevailing rate of interest as on the date of premature closure whichever is lower.
Q. Can an account holder avail loan against FD in UCO Bank?
A. Yes, an account holder can easily avail loan against FD in UCO Bank.