UCO FD Interest Rates 2023 - Latest UCO Bank Fixed Deposit Rates

UCO FD Interest Rates 2023 - Latest UCO Bank Fixed Deposit Rates

UCO Bank Fixed Deposit: Diversified Options for Secure Investments

As one of India's oldest financial institutions, UCO Bank extends a variety of fixed deposit options catering to diverse customer needs. Opening an FD account with UCO Bank is a straightforward process, requiring customers to deposit the specified minimum amount during account initiation. Once the account is active, no additional deposits are allowed, ensuring stability in investment planning. UCO Bank's FD offerings come with numerous benefits, including competitive interest rates and flexible tenure options.

UCO Bank presents different FD schemes, each tailored to meet specific financial goals. Let's explore some prominent schemes:

1. Kuber Yojana Scheme:

Minimum deposit: Rs. 1000

Interest rates: 4.50% to 6.75% per annum

Compounded quarterly

Maturity period: 6 months to 10 years

2. UCO Monthly Income Deposit Scheme:

Minimum deposit: Rs. 50,000

Offers regular monthly income payouts

Interest compounded quarterly

Avail loan or overdraft facility against the deposit

3. UCO Tax Saver Fixed Deposit Scheme:

Minimum deposit: Rs. 100

Eligible for tax exemptions under Section 80C

Lock-in period: 5 years

4. Flexible Fixed Deposit Scheme:

Allows partial premature withdrawal in multiples of Rs. 5,000

Designed for emergency fund requirements

Interest rates for UCO Bank FDs vary based on tenure:

  • Short-term (7 days to 12 months): 2.75% to 4.90% per annum

  • Medium-term (more than 1 year to less than 5 years): 5.00% per annum

  • Long-term (5 years to 10 years): 5.00% per annum

To initiate an FD account with UCO Bank, individuals need to visit the nearest branch, complete the application form, and submit the required KYC documents along with the desired deposit amount. UCO Bank extends FD options to individuals, Hindu Undivided Families, companies, trusts, and societies.

Interest earned from UCO Bank FDs is taxable as per income tax slab rates, with a 10% TDS applicable on interest income exceeding Rs. 40,000 per annum. For senior citizens, the limit is Rs. 50,000 per annum.

UCO Bank facilitates loans against fixed deposits, offering a quantum of up to 90% of the FD value with interest rates ranging from 5.5% to 7.3% for FD investors.

Premature closure of FDs is permitted by UCO Bank with a penalty of 1% interest below the contractual interest rate.

In conclusion:

UCO Bank's diverse fixed deposit options, coupled with competitive interest rates and flexible tenures, empower customers to choose schemes that align with their financial goals, making the FD journey with UCO Bank a rewarding experience.




UCO Bank Fixed Deposit: Diversified Options for Secure Investments

As one of India's oldest financial institutions, UCO Bank extends a variety of fixed deposit options catering to diverse customer needs. Opening an FD account with UCO Bank is a straightforward process, requiring customers to deposit the specified minimum amount during account initiation. Once the account is active, no additional deposits are allowed, ensuring stability in investment planning. UCO Bank's FD offerings come with numerous benefits, including competitive interest rates and flexible tenure options.

UCO Bank presents different FD schemes, each tailored to meet specific financial goals. Let's explore some prominent schemes:

1. Kuber Yojana Scheme:

Minimum deposit: Rs. 1000

Interest rates: 4.50% to 6.75% per annum

Compounded quarterly

Maturity period: 6 months to 10 years

2. UCO Monthly Income Deposit Scheme:

Minimum deposit: Rs. 50,000

Offers regular monthly income payouts

Interest compounded quarterly

Avail loan or overdraft facility against the deposit

3. UCO Tax Saver Fixed Deposit Scheme:

Minimum deposit: Rs. 100

Eligible for tax exemptions under Section 80C

Lock-in period: 5 years

4. Flexible Fixed Deposit Scheme:

Allows partial premature withdrawal in multiples of Rs. 5,000

Designed for emergency fund requirements

Interest rates for UCO Bank FDs vary based on tenure:

  • Short-term (7 days to 12 months): 2.75% to 4.90% per annum

  • Medium-term (more than 1 year to less than 5 years): 5.00% per annum

  • Long-term (5 years to 10 years): 5.00% per annum

To initiate an FD account with UCO Bank, individuals need to visit the nearest branch, complete the application form, and submit the required KYC documents along with the desired deposit amount. UCO Bank extends FD options to individuals, Hindu Undivided Families, companies, trusts, and societies.

Interest earned from UCO Bank FDs is taxable as per income tax slab rates, with a 10% TDS applicable on interest income exceeding Rs. 40,000 per annum. For senior citizens, the limit is Rs. 50,000 per annum.

UCO Bank facilitates loans against fixed deposits, offering a quantum of up to 90% of the FD value with interest rates ranging from 5.5% to 7.3% for FD investors.

Premature closure of FDs is permitted by UCO Bank with a penalty of 1% interest below the contractual interest rate.

In conclusion:

UCO Bank's diverse fixed deposit options, coupled with competitive interest rates and flexible tenures, empower customers to choose schemes that align with their financial goals, making the FD journey with UCO Bank a rewarding experience.




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