UCO Bank FD Interest Rates

About UCO Bank 

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.

UCO Bank FD Rates (Below ₹3 Crore) 

Note: The data is as of June 23, 2025

Features and Benefits of UCO Bank Fixed Deposit  

• UCO Bank FDs offer flexible tenures ranging from 7 days to 10 years with a minimum deposit of just ₹1,000.
• Investors can choose their preferred interest payout frequency—monthly, quarterly, half-yearly, or annually.
• Senior citizens, staff, and ex-staff enjoy higher interest rates of up to 0.50%, 1%, and 1.50% respectively.
• A loan facility of up to 90% of the deposit value is available for added liquidity.
• Tax-saving deposit options and easy online account opening through UCO Bank’s platform make investing convenient.
• Nomination and auto-renewal facilities are available, and the bank offers multiple FD schemes tailored to different financial goals.

Types of UCO Bank FD Schemes

UCO 333 Special Deposit Scheme

• The scheme offers 6.30% for general and 6.55% for senior citizens
• The fixed deposit tenure is limited to 333 days only
• Deposits accepted from ₹10,000 up to less than ₹3 crore
• Premature withdrawal is allowed but with a penalty deduction
• Loan, overdraft, and income payout options are available

UCO 444 Special Deposit Scheme

• The scheme offers 6.60% for general and 7.10% for senior citizens
• Tenure is fixed at 444 days with a minimum deposit of ₹10,000
• Maximum deposit is less than ₹3 crore for eligible customers
• Premature withdrawal is allowed as per applicable bank rules
• Loan, overdraft, and monthly or quarterly income options are available

UCO Green Deposits Scheme

• The scheme funds green initiatives and environmental projects
• Tenure options include 12 months, 1000, 2000, and 3000 days
• Minimum deposit starts at ₹10,000 with no upper limit
• Interest rate is slightly higher than regular fixed deposits
• No auto-renewal; proceeds are credited to your account on maturity

UCO Kuber Yojna

• This scheme can be suitable for long-term savings and wealth building
• Interest is compounded quarterly and reinvested until maturity
• Tenure ranges from 6 months to 120 months
• Minimum deposit starts at just ₹1,000
• Total interest is paid out only at maturity for full benefit

UCO Monthly Income Scheme

• Deposit amount ranges from ₹50,000 to ₹1 crore in multiples
• Tenure is fixed for 5 years with no early withdrawal before penalty
• Loan facility is available against the deposit
• Interest is paid monthly without any discounting on returns

UCO Tax Saver Deposit Scheme

• This scheme qualifies for tax deduction under Section 80C
• Interest rate is 5.00% for general and 5.50% for senior citizens
• Deposit range starts from ₹100 up to ₹1.5 lakh per year
• Has a lock-in period of 5 years with no premature withdrawal
• Loans and inter-bank transfers are not permitted under this scheme

Flexible Fixed Deposit Scheme

• This scheme allows partial withdrawal in ₹5,000 multiples
• The remaining balance continues to earn interest at original rates
• Can be suitable for emergency needs without breaking the full deposit
• Interest rates are as per standard reinvestment fixed deposit norms
• Minimum deposit requirement aligns with regular FD terms

UCO Bank Maximum Term Deposit Account (MAXTDA) scheme

• This scheme is for motor accident compensation as directed by the court
• No fixed tenure; duration depends on specific court instructions
• Payout is in monthly instalments of principal and interest
• Premature closure is only possible through court order and with no penalty
• Loans and inter-branch transfers are strictly not allowed

Term-wise UCO Bank Fixed Deposit Rates

Short-Term Fixed Deposits

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.

Medium-Term Fixed Deposits

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.

Long-Term Fixed Deposits

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.

How to Invest in an UCO Bank Fixed Deposit?

Internet Banking

• Log in to UCO Bank NetBanking using your credentials
• Navigate to the ‘Online Term Deposit’ section and select ‘e-TDA Opening’
• Accept the terms and conditions and enter the required details
• Authenticate the request using the OTP sent to your registered mobile number
• On successful verification, the FD account will be opened and the acknowledgment slip can be downloaded

Mobile App – UCO Bank App

• Open the UCO Bank mobile app and sign in
• Select the ‘Term Deposits’ option to begin the process
• Fill in personal, nominee, and maturity-related details
• Confirm the transaction using the OTP received on your mobile
• Once verified, the FD is created and the acknowledgment slip is available for download

Offline Mode (Branch Visit)

• Visit the nearest UCO Bank branch in person
• Request and fill out the Fixed Deposit application form
• Submit necessary KYC documents along with the deposit amount
• After successful processing, the bank will issue a Fixed Deposit receipt

Eligibility for Opening an UCO Bank FD Account

• Individuals can open an UCO Bank FD account either singly or jointly
• Non-Resident Indians (NRIs) can invest through NRE or NRO accounts
• Members of Hindu Undivided Families (HUFs) are permitted to invest
• Minors can hold fixed deposits under the supervision of a parent or legal guardian
• Eligible entities also include trusts, private or public limited companies, partnership firms, and sole proprietors

Documents Required to Open UCO Bank FD Account

Proof of Identity (any one of the following)

• Aadhaar Card
• PAN Card
• Valid Passport
• Voter ID
• Ration Card with photograph
• Driving Licence
• Senior Citizen ID (if applicable)

Proof of Address (any one of the following)

• Aadhaar Card
• Passport
• Driving Licence
• Recent Electricity Bill
• Latest Telephone Bill
• Address certificate issued by the Post Office

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.

Tax on UCO Bank Fixed Deposit

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%.

Premature Closure of UCO Bank Fixed Deposit

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.