UCO Bank FD Interest Rates 2022 hiked by up to 135 bps, now offers return up to 8.5%; Check fixed deposit calculator

UCO Bank Fixed Deposit Rates 2022: Public sector lender UCO Bank has hiked fixed deposit interest rates by up to 135 basis points for deposits below Rs 2 crore. According to the bank's official website, the revised FD rates have come into effect from today, i.e. December 2. The bank has also increased interest rates for its fixed deposits with a maturity tenure of 444 days and 666 days. The maximum interest rate that non-senior citizen retail investors can get on deposits that mature in 666 days is 6.5% and 7% for senior citizens. Since the bank offers additional interest rates to its staff, they can get the benefits of higher returns. 

For non-senior citizens, the UCO Bank now offers a return of 2.9% on FDs with a maturity tenure of 7-29 days, 3% for 30-45 days, 4% for 46-120 days, 4.5% for 121-150 days, 5% for 151-180 days, 6% for 181-364 days while FDs for one year tenure will get an interest of 6.35%. The bank is now offering an interest rate of 6.2% on deposits maturing in over one year to up to two years except for 444 and 666 days), 6% for above two years and up to 5 years and above. The deposits for 444 days will earn a return of 6.25% and those for 666 days will get a 6.5% return.

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For senior citizens, the public sector lender is offering a return of 3.15% on FDs with a maturity tenure of 7-29 days, 3.25% for 30-45 days, 4.25% for 46-120 days, 4.75% for 121-150 days, 5.25% for 151-180 days, 6.25% for 181-364 days while FDs for one year tenure will get an interest of 6.60%. The bank is now offering an interest rate of 6.7% on deposits maturing in over one year to up to two years except for 444 and 666 days), 6.5% for above two years and up to 5 years and above. The deposits for 444 days will earn a return of 6.75% and those for 666 days will get a 7% return.

The bank offers a 1% additional interest rate to its staff while the retired senior citizen staff will earn an additional interest rate of 1.25% on deposits of above one year and 1.5% for fixed deposits of above one year. So a retired staff of Uco Bank can earn an interest of up to 8.5%

Uco Bank FD Interest Rates 2022 Calculator

The bank is offering a return of 7% to senior citizens on fixed deposits for a tenure of 666 days. If a person invests Rs 2 lakh for 666 days, he/she will earn an interest of Rs 25,545 while the maturity amount will be Rs 2,25,545.