Bank FD Scheme : If you also want to grow your money through a safe investment with assured returns, then the Fixed Deposit (FD) scheme of UCO Bank can prove to be a reliable option for you. This public sector bank is offering attractive interest rates on FD accounts. In fact, UCO Bank’s FD interest rates are drawing the attention of investors. Under this scheme, you can invest for a period ranging from 7 days to 10 years and earn a good amount of guaranteed interest at maturity.
What’s special about UCO Bank’s FD scheme?
UCO Bank is offering interest rates ranging from 2.90% to 7.95% on fixed deposits. These rates depend on your investment tenure and category (regular customer, senior citizen, or retired staff). The most special part is the 444-day special FD scheme, in which UCO Bank is offering the highest interest rate.
Calculation of FD returns
For regular customers, the interest rate on a 444-day FD is around 6.45%, while senior citizens get 6.95%. For retired senior citizen staff of UCO Bank, this rate goes up to 7.95%, which is currently considered one of the most attractive rates among public sector banks.
How much interest will you get on depositing ₹1,00,000?
If you are a regular customer and deposit ₹1,00,000 in UCO Bank for 5 years, you can receive around ₹1,35,351 at maturity, which means you will earn a fixed return of ₹35,351. On the other hand, if you are a senior citizen, you will get approximately ₹1,38,723, which includes ₹38,723 as interest.
For retired bank staff, this amount can be even higher because they get 1.25% to 1.50% more interest compared to regular customers.
Best offers for senior citizens
UCO Bank provides special benefits to retired employees and senior citizens:
- On FDs of less than 1 year, they can get 1.25% higher interest than normal rates.
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On FDs of more than 1 year, they get 1.50% higher interest.
This facility not only gives senior citizens better returns but also ensures a safe investment option.
Why should you invest in UCO Bank FD?
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Government-backed security – UCO Bank is under the Government of India, so your money remains safe.
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Fixed returns – FD offers a fixed interest rate, so it is not affected by market fluctuations.
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Flexible tenure options – You can choose a term from 7 days to 10 years according to your convenience.
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Tax benefits – By investing in a 5-year Tax Saving FD, you can get tax benefits under Section 80C.
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Auto renewal and loan facility – You can also take a loan against your FD in case of emergency.
Conclusion – UCO Bank FD
If you are looking to grow your savings without taking any risk, then UCO Bank’s FD scheme is an excellent option. Senior citizens get additional interest, while regular investors also get returns of more than 6%. By depositing just ₹1,00,000, you can earn interest of over ₹38,000 safely. Overall, UCO Bank’s FD scheme is a perfect blend of stability and trust — making it a safe and profitable deal for investors.
Top 5 FAQs
1. What is the maximum interest rate on FD in UCO Bank?
Retired senior citizen staff of UCO Bank can get up to 7.95% interest.
2. How much interest is offered on UCO Bank’s 444-day FD?
Regular citizens get 6.45%, while senior citizens get 6.95% interest.
3. How much return will I get if I invest ₹1 lakh for 5 years?
Regular customers will earn around ₹35,351, and senior citizens will earn around ₹38,723 as interest.
4. Is UCO Bank FD safe?
Yes, UCO Bank is a government-owned bank and all deposits are insured up to ₹5 lakh under DICGC.
5. Can I take a loan against my FD?
Yes, UCO Bank provides loan or overdraft facility against your fixed deposit.