Following the Reserve Bank of India’s (RBI) sharp 1.25% cut in the repo rate in 2025, many banks have reduced their FD rates, but the public sector UCO Bank continues to offer its customers stable interest rates. Senior citizens can earn a guaranteed return of ₹21,341 on an investment of ₹1 lakh under UCO Bank’s 3-year special FD scheme. If you’re looking to grow your hard-earned money safely and securely while avoiding stock market risk, this article is a best for you.
UCO Bank FD Rates
The prestigious public sector UCO Bank offers its customers stable interest rates ranging from 2.90% to 7.95% for various tenures. The bank’s most popular scheme is its 444-day special FD, which offers the most attractive interest rates.
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For general citizens, the 444-day scheme offers a stable interest rate of 6.45%, while for senior citizens, the rate is fixed at 6.95%. The bank is offering a special rate of 7.45% for serving employees and the highest return of 7.95% for retired senior citizen staff. Furthermore, on a 3-year FD, general citizens receive an interest rate of 6.00% and senior citizens receive an interest rate of 6.50%.
Calculation on an investment of ₹1 lakh
The mathematical calculations of returns on investing in UCO Bank’s 3-year fixed deposit (FD) scheme are quite interesting. Your principal is completely protected, and you receive a guaranteed amount upon maturity.
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If you are a general citizen and invest ₹1 lakh in a UCO Bank FD for 3 years, at a rate of 6.00%, you will receive a total of ₹1,19,562 at maturity, including a flat interest of ₹19,562. If you are a senior citizen and invest ₹1 lakh at a rate of 6.50%, you will receive a total of ₹1,21,341 at maturity. The net flat interest you will receive will be ₹21,341.
Benefits of investing in a UCO Bank FD
Being a government-owned bank, your investment in UCO Bank is completely protected. The biggest advantage of this FD scheme is that there are no ifs and buts. Once your investment is fixed, the rate remains the same until maturity, regardless of market conditions.
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The biggest advantage is that it is virtually unaffected by market fluctuations. In addition to capital protection, senior citizens receive an additional stable benefit of 0.50% and retired employees receive an additional stable benefit of 1.50%. Furthermore, if needed, you can also avail of a loan or overdraft against your FD at a fast pace.