What are the key benefits of SBI Credit Cards?

SBI Credit Cards offer a wide range of benefits, including rewards, cashback, lounge access, discounts, and insurance coverage.

How can I apply for an SBI Credit Card?

You can apply for an SBI Credit Card online through the Paisabazaar platform, where you can compare card options and check for pre-approved offers.

What factors should I consider when choosing an SBI Credit Card?

Consider your spending habits, lifestyle, and financial goals to select a card that best suits your needs, such as travel, shopping, or rewards.

How can I manage my SBI Credit Card efficiently?

SBI Card offers a user-friendly mobile app and online banking services to help you manage your card, check statements, make payments, and access additional features.

What precautions should I take to avoid accumulating credit card debt?

Responsible credit card usage includes paying bills on time, managing credit limits wisely, and avoiding unnecessary spending to prevent debt accumulation.

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

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May 10, 2023

7 Minutes

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.