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UCO Bank FD Interest Rates

2.75% - 5.00%
Interest rates
3 months - 10 years
Time Period
₹1000 - no limit
Min. - Max amount
QUARTERLY
Compounding

About UCO Bank Bank

UCO Bank, short for United Commercial Bank is one of the oldest financial institutions of India. It provides multiple FD options to its customers. To open an FD account in UCO Bank, customers can deposit the required minimum amount at the time of opening the account. Customers are not allowed to deposit any additional money once the account is opened. There are a plethora of benefits of opening an FD with UCO Bank that you can find down this page.

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Started On1943
Head QuartersKolkata
CRISIL RatingNA
CEOAtul Kumar Goel
Listed on exchange asUCO Bank
ICRA RatingNA

UCO Bank FD Rates 2022

TenureRegular customersSenior citizens
1
2

Features and Benefits of UCO Bank FD

  • The UCO Bank FD tenure ranges from 7 days to 10 years
  • Loan facility up to 90% is available on the deposit
  • Nomination facility is available for individuals
  • Renewal is carried out at the rate of interest prevailing on the date of maturity
  • Senior citizens get an additional 0.50% rate of interest over the regular rates
  • UCO Bank provides different FD schemes such as UCO Bank FD scheme, Flexible FD scheme, UCO Tax Saver Deposit scheme, UCO Monthly Income Scheme, Kuber Yojana
  • The highest interest provided by UCO Bank is 5.4% (for senior citizens) and 5% (for general citizens)

Types of UCO Bank FD Schemes

Kuber Yojana Scheme

  • The minimum deposit amount needed for this scheme is Rs. 1000
  • Interest is compounded on a quarterly basis
  • The maturity ranges from 6 months to 10 years
  • It provides a cumulative interest payout
  • Interest rate is provided in the range of 4.50% p.a. to 6.75% p.a.
  • The highest UCO Bank FD interest rate provided under this scheme is 6.75% p.a. (above 1 year to 10 years)

UCO Monthly Income Deposit Scheme

  • The minimum deposit amount needed to open an account under this scheme is Rs. 1000
  • Interest is compounded quarterly
  • The minimum deposit amount required to open an account under this scheme is Rs. 50,000
  • The maximum deposit amount is Rs. 1 crore
  • Interest payout is on the 1st of every month
  • Premature withdrawals are allowed with a penalty of 1%
  • Loan and overdraft facility is available against the deposit
  • Nomination facility is provided
  • Auto-renewal facility is available
  • Interest earned is subjected to TDS as per the Income Tax Act. 1961

UCO Tax Saver Fixed Deposit Scheme – 2006

  • Under this scheme, as the name implies, the depositor can get tax exemptions as per the Income Tax Section 80C of the Income Tax Act, 1961.
  • The minimum deposit needed to open a tax saver account is Rs.100
  • The maximum deposit is Rs. 1.50 lakh
  • There is a lock-in period of 5 years
  • Premature withdrawals are not allowed
  • Loans are not provided against the deposit
  • Can be opened by an individual, jointly by two adults or by an adult and a minor
  • Nomination facility is available
  • Interest shall be liable to tax under the Income Tax Act

Flexible Fixed Deposit Scheme

  • Under this scheme, deposits are accepted under the reinvestment plan
  • This scheme helps to serve the emergency needs of the customers
  • This scheme allows withdrawing a part of the deposit to be prematurely withdrawn in multiples of Rs. 5,000

Term wise UCO Bank Fixed Deposit Rates

Short-term Deposits

For a UCO Bank FD with tenure ranging from 7 days to 12 months, the interest rate offered is from 2.75% p.a. to 4.90% p.a. These deposits with tenures less than 1 year are known as short term deposits.

Medium-term Deposits

Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits is  5.00% p.a

Long-term Deposits

These deposits have their tenure ranging from 5 years to 10 years and offer an interest rate of 5.00%

UCO Bank vs Other Banks' FD Rates

NameTenureInterest rate
1
2
3
4
5

How to invest in UCO Bank FD?

For opening an FD account in UCO Bank, one needs to visit any nearest UCO Bank branch and request for application form concerning the fixed deposit. Fill out the application form and submit it to the bank desk for further processing. Along with the application form, one needs to deposit a cheque bearing the amount of choice. After successful verification of identity and address, proof details by the bank officials, UCO Bank FD account will be opened.

Eligibility to Open a UCO Bank FD Account

Individuals who fulfil the following factors are eligible to invest in UCO Bank FD schemes.

  • Must be a citizen of India
  • Member of Hindu Undivided Family

Companies, trusts and societies can also apply for a UCO bank FD plan.

Documents Required to Open UCO Bank FD

Investors need to furnish the following documents to start their UCO Bank investments.

  • KYC documents that act as identity and address proof. Aadhaar card, PAN card, driving license, electricity bill and telephone bill are just some of the accepted KYC documents.
  • Bank statement, along with a cheque acts as the income proof.
  • Passport-size photographs.
  • UCO Bank fixed deposit application form.

FAQs

What are the minimum and maximum tenure of UCO Bank Fixed Deposit?

The UCO Bank FD tenure ranges from 7 days to 10 years.

What is the highest FD rate provided by UCO Bank FD?

The maximum interest provided by UCO Bank on fixed deposits is 5.00%.

What is the minimum deposit amount required to open an FD account in UCO Bank?

You need at least Rs.1000 under the UCO Fixed deposit scheme.

Who all are eligible to open an FD account in UCO Bank?

All resident individuals, Hindu Undivided Families, NRIs, firms as well as minors are eligible to open an FD account.

What are the different types of Fixed deposit schemes provided by UCO Bank?

  • Kuber Yojana Scheme
  • UCO Monthly Income Deposit Scheme
  • UCO Tax Saver Fixed Deposit Scheme – 2006
  • Flexible Fixed Deposit Scheme
  • UCO Bank Non-Resident Indian (NRI) Term Deposits

Can I withdraw my FD amount before maturity?

Depositors can withdraw their fixed deposit amount before maturity which is known as premature withdrawal. Although a premature withdrawal facility is provided by the UCO bank, a normal penalty is charged by the bank. The penalty charged by UCO bank is 2.00% less than the applicable rate for which the FD 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.

Does UCO Bank provide deposit options to NRIs?

UCO Bank also provides Term Deposits options to Non-Resident Indians. The variants are:

  • UCO Bank Non-Resident External (NRE) Deposits
  • UCO Bank Non-Resident Ordinary (NRO) Deposits
  • UCO Bank Foreign Currency Non-Resident (Bank) (FCNR (B)) Deposits

The highest interest rate provided on NRO and NRE deposits is 6.30% p.a. However, the UCO Bank FCNR (B) interest rates tend to change from time to time.

Calculate UCO Bank FD Interest
Investment Amount
₹25,000.00
Time Period
9 Months
1 Year
2 Years
3 Years
Maturity Amount
UCO Bank
@4.9% p.a
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online upto 0%
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