How to find the best rates for UCO Bank Fixed Deposit
UCO Bank is part of the public-sector banking space in India and brings to its customers retail fixed deposit products which come with varying tenors and competitive interest rates.
Changes in market conditions and banks asset-liability management requirements can lead to fluctuations in interest rates offered on a banks fixed deposits. This poses a problem for customers who wish to invest for optimum returns because tracking changes over time is difficult, especially with multiple accounts.
The above table always reflects the latest rates on UCO Banks FDs. This enables real-time comparison of maturities.
UCO Bank Short-Term FD Rates
Rates on short-term holdings vary between 7% and 8.75% with the 30-day scheme at the lower-end of the spectrum and the 9-month scheme at the higher-end. Filling in the gaps are the 60 and 90-day schemes in the 7-point range at 7.25% and 7.5% respectively while the 120-day and 6-month schemes feature rates in the 8-point range at 8.25% and 8.5%.
UCO Bank Medium and Long-Term FD Rates
Medium and long-term rates are pegged at a constant 9% for tenors from 1 to 4 years beyond which there is a marginal dip by 0.25% for the 5-year scheme to 8.75%.
UCO Bank Senior Citizen FD Rates
Senior citizens are offered a 0.25% increase on short and medium-term holdings i.e. for deposit-periods of 30 days to 1 year, putting rates in the range of 7.25% to 9.25% for this period. Senior citizens, however, benefit more on longer term holdings i.e. above 1 year up to 5 years with a 0.5% increase on existing rates; this puts rates for this period in the range of 9.25% to 9.5%.
Interest rates on UCO Banks fixed deposits are attractive vis-a-vis its peers on short and medium-term holdings which makes them good investment options for those with near to short-term liquidity requirements.
All rates are indicated on a per-annum basis with a quarterly compounding frequency.
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