**About UCO Bank Fixed Deposit**

UCO Bank, formerly known as the United Commercial Bank, is one of the largest government-owned banks in India. Since 2012, the Bank has undertaken several expansion schemes and has increased its financial service offerings to its customers. Among the array of products and services offered under it, its fixed deposit scheme is among the most popular.

Fixed deposits are the preferred form of investment for millions of Indians, mostly due to their safe and secure nature. Therefore, it is highly beneficial for individuals with a low-risk appetite, to park surplus funds in such an FD account. Nevertheless, doing so blindly can be detrimental to the investor’s overall financial state.

A fixed deposit calculator is a convenient computation tool available online that can ease the process of FD investments. This calculator reveals the profitability for an investor, based on the principal sum, interest rate and tenure he chooses.

Individuals, looking to park their funds in UCO Bank fixed deposits, can take advantage of UCO Bank FD calculator.

**Benefits of Using UCO Bank FD Calculators**

Fixed deposits generally involve a substantial quantum. Further, depositors often chalk out a long-term investment plan when investing in FDs. Thus, using a UCO Bank FD rates calculator to gauge returns from such an investment during its maturity can be extremely helpful for investors.

Listed below are some of the crucial advantages of using this calculator –

- Simple interface, which makes the UCO Bank FD calculator extremely easy to use.
- The convenient way to calculate FD profitability, preventing investors from time-consuming manual calculations.
- This tool allows investors to assess how each parameter in the calculation affects the result. One can even adjust parameters to arrive at the desired outcome.

Therefore, a UCO Bank fixed deposit calculator not only reveals profitability but also helps determine the perfect term and principal investment to reach the desired outcome.

Nonetheless, before moving on to learn about interest computation, it is first crucial to know the FD rates and maturity terms on offer from UCO Bank.

**UCO Bank FD Tenure and Interest Rates**

The following table illustrates the various FD tenure options that a potential investor can choose from –

Investment Term |
Normal FD rates |
Senior citizen FD rates |

7-45 days | 4% | 4.25% |

46-90 days | 4.5% | 4.75% |

91-180 days | 4.75% | 5% |

181-364 days | 5.55% | 5.8% |

1 year | 5.85% | 6.1% |

1 year and a day-3 years | 5.85% | 6.35% |

3 years and a day-10 years | 5.8% | 6.3% |

While using the UCO Bank FD rates calculator, one needs to input interest rates from this table, as per his/her terms.

Also Read: UCO FD Interest Rates

**FD Calculator Formula and Application**

The calculator tool uses a mathematical formula to determine the maturity amount from FD investments. This formula is given by –

**A = P (1+r/n) ^ n x t**

In the above equation,

- ‘A’ refers to the maturity amount,
- ‘P’ denotes the principal investment sum
- ‘r’ denotes interest rate expressed in decimals
- ‘t’ gives the term of investment
- ‘n’ is the frequency of interest payout

One can take a look at the example below to gain a better understanding of each parameter.

**Example of FD Returns Calculation**

Anish decided to invest Rs.1 lakh (P) in UCO Bank FDs for 10 years (t) at yearly compounding interest (n). From the table, above it is clear that the rate of interest applicable to his investment is 6.30% (r). Therefore, the total maturity amount would be –

A = 100000 (1+0.063/1) ^ 1 x 10

A = Rs.1,84,218

Return on investment = Rs. (1,84,218 – 1,00,000)

ROI = Rs.84,218

As one can see, this calculation process can be complicated and time-consuming if carried out manually. Using a UCO Bank FD calculator, on the other hand, can help compute the same in just a few seconds.

**How do Different Factors Affect FD Calculation Outcome?**

There are four primary factors that determine the return on a fixed deposit. An investor, using UCO FD calculator, can freely alter these parameters to reach the desired returns.

**Principal investment–**The amount of money that is invested plays a huge role in determining the total interest earned. Concisely, the more one invests in FDs. The higher are his/her returns. Thus, it is a good idea to invest a considerable sum through fixed deposits. If an individual is unhappy with his returns on UCO Bank FD interest rates calculator, he can try increasing his initial investment.

**Maturity term –**Fixed deposits offer maximum returns to long-term investors. Thus, one should park their funds in FDs for one year or more to earn sizable ROI. In the FD calculator, increasing the term leads to significant improvement in profitability.

**Interest rates –**One reason why longer tenure means increased returns, is that UCO Bank offers higher interest rates to long-term investors. Since maturity terms and rate of interest are interconnected, one should opt for FDs with significant tenure to benefit the most.

**Compounding interest frequency –**Lastly, the frequency of an investor’s interest payout also determines overall profitability. If the interest amount is compounded more frequently, ROI tends to be slightly higher. Although not as significant as the other three factors, this can also help an investor boost income from FDs.

An investor can notice changes from these parameters while using UCO FD calculator. Such financial tools are also important to make informed decisions for the betterment of an individual’s finances.

**FAQs**

**What is an added advantage of FDs for senior citizens?**

Senior citizens are eligible to receive additional interest on their principal investment. Generally, this can range between an extra 0.2% and 0.5% interest earnings per year.

**Can I invest in an FD online?**

Yes. One can easily invest in fixed deposits online. This facility is available through the banks’ official websites, as well as through third-party financial portals.

**What is the credit facility against fixed deposits?**

Most banks allow you to avail a hassle-free and secure loan against your fixed deposit quantum. The loan-to-value for such credits can differ based on the bank but can be as high as 90%.