Breaking Down UCO Bank Fixed Deposit Interest Rates: Top 19 Things to Remember

Written by Sravan

Updated on:

UCO Bank Fixed deposit Interest rates for Kuber Yojana Scheme
UCO Bank Fixed Deposit Interest rates for UCO Monthly Income Deposit Scheme
UCO Monthly Income Deposit Scheme
UCO Bank Fixed Deposit interest rates

Additional interest will be paid to Staff and Retired Staff of UCO Bank is given below

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

Before opening a Fixed Deposit, the Depositor should submit the below-mentioned documents

  1. Visit the nearest UCO Bank branch
  2. Fill out the premature FD closure form
  3. Attach your KBC documents
  4. Submit your fixed depository Sita certificate along with these documents

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

In UCO bank, Indian resident Individuals, Partnership Firms, Hindu Undivided Family (HUF), Companies, Trusts, Societies, Charitable / Educational Institutes, Professionals, Corporates are eligible to open an FD account.

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

The Minimum deposit amount required to open an FD account in UCO Bank is Rs.100/- rupees.

3. Is there any minimum amount that I have to give for opening a Fixed Deposit with UCO Bank?

The Minimum deposit amount required to open an FD account in UCO Bank is Rs.100/- rupees.

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

The UCO Bank customers can hold their deposit for a Minimum tenure of 7 days and up to the Maximum tenure of10 years period.

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

1. Kuber Yojana Scheme.
2. UCO Monthly Income Deposit Scheme.
3. UCO Tax Saver Fixed Deposit Scheme – 2006.
4. Flexible Fixed Deposit Scheme.
5. UCO Bank Non-Resident Indian (NRI) Term Deposits.

6. Kuber yojana deposit scheme maximum limit ?

Under UCO Bank Kuber yojana deposit scheme, there is no maximum limit. You can make a Minimum deposit of Rs.1,000/- and No maximum deposit Limit

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

The Maximum FD rate provided by UCO Bank for Regular Citizens is 6.50% and for Senior citizens 7% for a period of 1 year. If you deposit for 300 days period under Special deposit, the Regular Citizens will earn upto 7.25% interest.

8. In how many years FD will double in UCO Bank?

The thumb rule to divide 72 by the present Interest rate. For example, if the Interest rate is 6.50%, the FD will double in 11.07 Years (72/6.5)

9. Can I withdraw my FD amount before maturity?

If you withdraw your UCO Bank fixed deposit prematurely, then, you will be levied with a penalty of 0.5% or 1% as a premature charges.

10. Does UCO Bank provide deposit options to NRIs?

Non Residents of India (NRI’s) can also deposit money in the below schemes of UCO bank.
1. UCO Bank Non-Resident External (NRE) Deposits
2. UCO Bank Non-Resident Ordinary (NRO) Deposits
3. UCO Bank Foreign Currency Non-Resident (Bank) (FCNR (B)) Deposits

Author is a Qualified CMA with rich industry experience for more than 6 years. He is an All India Ranker (AIR-101) in CMA and also a Semi-Qualified Chartered Accountant having a quite good experience in teaching the subjects of Accounting and Costing to the commerce aspirants.

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