UCO Bank Fixed Deposit Schemes
UCO Bank accepts deposits from a wide variety of customers in fixed term accounts, paying interest on the funds maintained therein. Returns under these FDs are fixed and rates differ according to the holding periods.
Deposit periods are also pre-determined. Depositors have the option under different schemes offered by the bank to maintain funds for short, medium or long periods of time. These schemes come with different kinds of value-add benefits such as renewal, nomination and overdraft facilities.
Deposit periods are also pre-determined. Depositors have the option under different schemes offered by the bank to maintain funds for short, medium or long periods of time. These schemes come with different kinds of value-add benefits such as renewal, nomination and overdraft facilities.
Types of UCO Bank Fixed Deposit Schemes
- Kuber Yojana scheme
- UCO Monthly Income Deposit scheme
- UCO Tax Saver Fixed Deposit scheme-2006
- Flexible FD scheme
Features of UCO Bank Kuber Yojana Scheme
- Interest is compounded on quarterly rests through reinvestment
- Minimum investment: Rs.1,000
- Range of maturity period: 6 months to 10 years
- Cumulative interest payout
Features of UCO Monthly Income Deposit Scheme
- Tenure: 5 years
- Minimum deposit amount: Rs.50,000
- Maximum deposit amount: Rs.1 crore
- Interest payout: First day of every month
- Premature withdrawals allowed
- 1% penalty charged on premature withdrawals
- Loans and overdraft facility against the deposit available
- Nomination facility
- FDs can be transferred within branches but not to another bank
- Deposits renewed automatically unless instructions given otherwise
- Tax Deducted at the Source (TDS) applicable to the interest as per the Income Tax Act, 1961
Features of UCO Tax Saver Fixed Deposit Scheme-2006
- Tax exemptions to the accountholder as dictated under Section 80C of the Income Tax Act, 1961
- Minimum deposit: Rs.100
- Maximum deposit: Rs.1.50 lakh
- Period of deposit: 5 years
- Can be operated as a joint account by two adults or one minor and an adult
- Premature withdrawals are not permitted
- Cannot secure loans against the deposit
- Interest income will be taxed under TDS of the Income Tax Act, 1961
Features of UCO Bank Flexible FD Scheme
- Reinvestment Plan
- Partial withdrawals are allowed
- After the withdrawal, the funds in the account will continue to get you an interest income
- You can withdraw money in units of Rs.5,000
UCO Bank Domestic Term Deposit rates below Rs. 3 crore
Deposit period | General Customer | Senior Citizen |
7-14 days | 2.90% | 3.15% |
15-29 days | 2.90% | 3.15% |
30-45 days | 3.00% | 3.25% |
46-60 days | 3.50% | 3.75% |
61-90 days | 3.50% | 3.75% |
91-120 days | 4.50% | 4.75% |
121-150 days | 4.50% | 4.75% |
151-180 days | 5.00% | 5.25% |
181-332 days | 5.50% | 5.75% |
333 days | 7.30% | 7.55% |
334-364 | 5.50% | 5.75% |
1 year | 6.50% | 6.75% |
Above one year to 399 days | 6.50% | 7.00% |
400 days | 7.05% | 7.55% |
401 days to 2 years | 6.50% | 7.00% |
Above 2 years to 3 years | 6.30% | 6.80% |
Above 3 years to 5 years | 6.20% | 6.75% |
Above 2 years to 3 years | 6.10% | 6.60% |
Note: The UCO Bank FD interest rates are subject to change at the discretion of the bank. The interest rates given in the table above are valid as of 24 September 2024.
UCO Bank Term Deposit interest rates above Rs. 3 crore up to Rs. 10 crore
Tenure | Rate of Interest for Single Term Deposit | Rate of Interest for Single Non-callable Bulk Term Deposit |
7 days to 14 days | 5.75% p.a. | 5.75% p.a. |
15 days to 30 days | 5.90% p.a. | 5.90% p.a. |
31 days to 45 days | 6.00% p.a. | 6.00% p.a. |
46 days to 90 days | 6.15% p.a. | 6.20% p.a. |
91 days to 180 days | 6.15% p.a. | 6.20% p.a. |
181 days to 210 days | 6.15% p.a. | 6.20% p.a. |
211 days to 270 days | 6.15% p.a. | 6.20% p.a. |
271 days to 1 year | 6.75% p.a. | 6.80% p.a. |
More than 1 year to 2 years | 6.50% p.a. | 6.55% p.a. |
More than 2 years to 3 years | 6.00% p.a. | 6.05% p.a. |
More than 3 years to 5 years | 5.50% p.a. | 5.55% p.a. |
Above 5 years | 5.50% p.a. | - |
Note : The UCO Bank Fixed Deposit rates are subject to change at the discretion of the bank. The interest rates given in the table above are valid as of 24 September 2024.
Eligibility to Open a UCO Bank Fixed Deposit Account
- Individuals who are Indian Citizens
- Members of the Hindu Undivided Family (HUF)
Documents to Open a UCO Bank Term Deposit Account
- KYC Documents such as identity proof and address proof
- Color passport-size photographs
- Application form provided by UCO Bank
- Income proof
FAQs on UCO Bank FD Schemes
- What is the tenure period for UCO Bank Tax Saver Deposit scheme-2006?
The maturity period for the Tax Saver FD is 5 years.
- What is the maximum interest rate that you can get on UCO Bank FD?
The highest UCO Bank FD rate is 6.50% p.a. for general public and 7% p.a. for senior citizens.
- What is the minimum amount of invest for a UCO Bank Fixed Deposit?
You must make an investment of at least Rs.1,000 to open a UCO Bank FD account.
- What is the penalty for premature withdrawals on FD?
If you make a premature withdrawal, you are charged with a penal interest rate of 1%.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.