UCO Bank FD Scheme : UCO Bank, a public sector bank, is offering attractive interest rates on its Fixed Deposit (FD) accounts. This year, after the RBI reduced the repo rate, many banks have also cut their FD interest rates. However, despite this reduction, FDs are still offering fairly good returns. At UCO Bank, you can open an FD account for a tenure ranging from 7 days to 10 years. Here, we will tell you about a specific FD scheme of UCO Bank in which, by depositing just ₹1 lakh, you can earn ₹38,723 as interest on maturity.
UCO Bank FD Scheme : UCO Bank is offering up to 7.95% interest on FD accounts
In a Fixed Deposit, your entire amount along with interest is transferred back to your savings account at maturity. Customers receive guaranteed, fixed interest on FD accounts. UCO Bank is currently offering interest rates ranging from 2.90% to 7.95% (the highest rate is only for retired senior citizen staff).
UCO Bank FD Scheme : 444-day FD offers the highest interest rate
For its special 444-day FD scheme, UCO Bank is offering the highest interest rate of 6.45% to general customers and 6.95% to senior citizens. Retired senior citizen staff members of UCO Bank get an interest rate of 7.95% on this 444-day FD. It is worth mentioning that UCO Bank offers its retired senior citizen staff 1.25% higher interest on FDs of less than 1 year and 1.50% higher interest on FDs of more than 1 year, compared to regular customers.
Deposit ₹1,00,000 and get ₹38,723 as fixed return
If you are a general customer and you deposit ₹1 lakh in a 5-year FD at UCO Bank, you will receive a total of ₹1,35,351 at maturity, which includes ₹35,351 as fixed interest. If you are a senior citizen, a 5-year FD of ₹1 lakh will give you a maturity amount of ₹1,38,723, which includes ₹38,723 as fixed interest. Under an FD scheme, you receive a fixed amount of interest after the chosen tenure, with no conditions or uncertainties.
