Interest Rates
5.75% – 5.50%
Time Period
3 months – 10 years
Min - Max Amount
1,000 - No limit
Compounding
Quarterly
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Expected Rate of Return
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Invested Amount
₹ 10,000
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UCO Bank, established in 1943, is a Government of India undertaking and one of the country’s trusted commercial banks. The bank’s Board of Directors includes representatives from the Government of India and the Reserve Bank of India, along with experienced professionals from various fields like economics, business, and finance.
With a strong nationwide presence and profitable overseas branches, UCO Bank is backed by a solid capital base and a well-diversified asset portfolio. Its branches are fully integrated with Core Banking Solutions (CBS) and are located in major financial centres across India.
UCO Bank offers fixed deposit (FD) schemes that are suitable for safe and stable returns. Customers can start an FD with just ₹1000, and the tenure can range from 7 days to 10 years. Investors can choose how frequently they receive interest—monthly, quarterly, half-yearly, or yearly.
Senior citizens, staff, and ex-staff enjoy higher interest rates. UCO Bank also provides tax-saving FDs, loan facilities against FDs, and simple online account opening, making it a convenient and reliable investment option.
Tenure | Regular Rate (% p.a.) | Senior Citizen Rate (% p.a.) |
7 – 14 days | 2.90 | 3.15 |
15 – 29 days | 2.90 | 3.15 |
30 – 45 days | 3.00 | 3.25 |
46 – 60 days | 3.50 | 3.75 |
61 – 90 days | 3.50 | 3.75 |
91 – 120 days | 4.25 | 4.50 |
121 – 150 days | 4.25 | 4.50 |
151 – 180 days | 4.75 | 5.00 |
181 – 332 days | 5.00 | 5.25 |
333 days | 6.30 | 6.55 |
334 – 364 days | 5.00 | 5.25 |
1 year | 6.25 | 6.50 |
Above 1Yr – 443 days | 6.20 | 6.70 |
444 days (Special) | 6.60 | 7.10 |
445 days – up to 2 yrs | 6.20 | 6.70 |
Above 2 yrs – 3 yrs | 6.15 | 6.65 |
Above 3 yrs – 5 yrs | 6.10 | 6.60 |
Above 5 yrs | 6.00 | 6.50 |
Note: The data is as of June 23, 2025
These FDs range between 7 days to less than a year, offering interest rates from 5.00% to 6.10% for regular customers and 5.50% to 6.60% for senior citizens. This type of FD can be suitable for short-term savings and quick liquidity.
These FDs range from 1 year to less than 5 years, with an interest rate of 6.50% for regular customers and 7.10% for senior citizens. This can be a suitable option for planned expenses over the medium term.
These FDs range from 5 years to 10 years, offering 5.50% for regular customers and up to 6.00% for senior citizens. This can be suitable for long-term wealth creation with stable and assured returns.
| Tenure | Institution Name | Interest Rate (% p.a.) |
|---|---|---|
| 1 year | 6.50› |
 | 1 year / 3 years | 6.50› |
 | 1 year | 6.50› |
 | 366 days | 6.70› |
 | 2 yr to less than 3 years | 6.70› |
Note: The data is as of July 22, 2025
Note: The specific requirements might vary slightly depending on the type of FD account (e.g., for individuals, HUFs, or firms) and whether you are an existing or new customer of the bank. If you're an existing customer, the process is often simpler.
Only investments in UCO Bank’s Tax Saving Fixed Deposit qualify for tax benefits under Section 80C of the Income Tax Act, allowing deductions of up to ₹1.5 lakh per financial year. Other types of UCO Bank FDs do not offer tax-saving benefits.
The interest earned from any UCO Bank FD is fully taxable and is added to the investor’s total income. Tax Deducted at Source (TDS) is applicable at 10% if the annual interest exceeds ₹40,000. For senior citizens, this threshold is ₹50,000 per year. If the investor does not provide a valid PAN card, the TDS rate increases to 20%.
UCO Bank permits the premature withdrawal of most fixed deposits, though it's important to be aware of the associated penalty. The only major exception is the tax-saving FD scheme, which has a strict 5-year lock-in period and does not allow for early withdrawal. The penalty charged by the bank is typically a reduction in the interest rate by 1% to 2% from the rate that was applicable for the actual period the deposit was held.
The specific penalty percentage depends on the deposit amount. For deposits with a value of less than ₹15 lakh, a 1% penal interest is charged. For larger deposits ranging from ₹15 lakh to less than ₹1 crore, a similar 1% penal interest is applied, which is the lower of the original or prevailing rate.
For deposits of ₹1 crore and above, the penal interest increases to 2% below the applicable rate. It's also important to note that if a deposit is closed within the first seven days, no interest will be paid at all, and only the principal amount will be returned.
Certain categories of depositors are exempt from these foreclosure charges, including UCO Bank's staff, ex-staff, senior citizens, and domestic term deposits placed by corporates, government bodies, and registered institutions that are not for profit, provided their investments align with the bank's guidelines.
