UCO Bank Savings Scheme: Public sector UCO Bank is offering excellent interest rates to its customers on FD accounts. This year, due to the reduction in repo rates by RBI, banks have also reduced FD interest rates.
However, despite this reduction, FDs still offer good interest. You can open an FD account with UCO Bank for tenures ranging from 7 days to 10 years. Here we will tell you about an FD scheme of UCO Bank, in which if you deposit just Rs 1 lakh, you can get an interest of Rs 38,723 on maturity.
UCO Bank is offering up to 7.95 percent interest on FD accounts.
Upon maturity, your entire money, including interest, is transferred back to your savings account. Customers receive guaranteed, fixed interest on FD accounts. UCO Bank offers customers interest rates ranging from 2.90% to 7.95% (for retired senior citizen staff only).
The highest interest is being offered on FDs of 444 days.
UCO Bank is offering the highest interest rate of 6.45 percent to general citizens and 6.95 percent to senior citizens on its 444-day special FD scheme. UCO Bank is offering 7.95 percent interest to its retired senior citizen staff on its 444-day FD scheme. It should be noted that UCO Bank offers 1.25 percent higher interest to its retired senior citizen staff on FD schemes of less than 1 year and 1.50 percent higher interest than normal on FD schemes of more than 1 year.
Deposit ₹1,00,000 and get a fixed return of ₹38,723
If you are a normal citizen and deposit Rs 1 lakh in a 5-year FD with UCO Bank, you will receive a total of Rs 1,35,351 on maturity, which includes a fixed interest of Rs 35,351. If you are a senior citizen and deposit Rs 1 lakh in a 5-year FD with UCO Bank, you will receive a total of Rs 1,38,723 on maturity, which also includes a fixed interest of Rs 38,723. Let us tell you that under the FD scheme, you get a fixed amount of interest after a fixed period and there are no ifs and buts in this.
Disclaimer: This article is for informational purposes only. Please consult your financial advisor before making any investments or taking any financial risks. Businessleague is not liable for any risks.
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