UCO Bank Savings Scheme: UCO Bank, a leading public sector bank, is offering its customers attractive interest rates on fixed deposits (FDs). Following the Reserve Bank of India’s repo rate cut this year, many banks have reduced their FD interest rates. However, investors at UCO Bank still receive substantial interest. You can open an FD account with UCO Bank for tenures ranging from 7 days to 10 years.
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FD Interest Rates
UCO Bank offers its customers interest rates ranging from 2.90% to 7.95% on FDs. Retired senior citizen staff receive the highest interest rate of 7.95%. Upon maturity, the FD amount, along with interest, is transferred directly to your savings account. UCO Bank’s most popular 444-day FD scheme offers an interest rate of 6.45 percent for general investors and 6.95 percent for senior citizens. Retired senior citizen staff receive a special interest rate of 7.95 percent for the same period.
Fixed returns on investing ₹1,00,000
If you are a general citizen and deposit ₹1 lakh in a 5-year FD with UCO Bank, you will receive a total of ₹1,35,351 at maturity, including a fixed interest rate of ₹35,351. If you are a senior citizen, you will receive ₹1,38,723 on a 5-year FD, including a fixed interest rate of ₹38,723. Interest in UCO Bank’s FD scheme is completely fixed, with no unexpected deductions or conditions.
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UCO Bank FDs are great for investing
UCO Bank FDs offer investors a safe and reliable option. Investing in this scheme provides a fixed interest rate upon maturity. Retired senior citizen employees receive a special interest rate, which further benefits them. The FD term is flexible, and investors can choose from a period of 7 days to 10 years, depending on their convenience.
