UCO Bank FD Interest Rates 2023

Established in 1943, UCO Bank is a government-owned commercial bank headquartered in Kolkata. It operates through over 3,000 service units and has nearly 43 zonal offices across India, catering to your needs. Moreover, the bank also operates in two major international financial centres – Hong Kong and Singapore.

UCO Bank’s fixed deposit schemes are crafted thoroughly to meet your specific requirements. The following guide will help you learn about the UCO Bank FD interest rates for particular deposit amounts and tenures.

Minimum Deposit₹1,000
Maximum DepositNo upper limit specified
Minimum Tenure7 days
Maximum TenureAbove 5 years
Interest Rates2.9% – 7.55% p.a. (including rates for senior citizens)
Lock-in Period5-year lock-in period for UCO Tax Saver Deposit Scheme
Senior Citizens3.15% – 7.55% p.a. (for deposits below ₹2 crores)6.15% – 7.75% p.a. (for deposits above ₹2 crores)
General Citizens2.9% – 7.05% p.a. (for deposits below ₹2 crores)5.9% – 7.25% p.a. (for deposits above ₹2 crores)

UCO Bank FD Interest Rates 2023

TenureGeneral CitizenSenior Citizen

Features and Benefits of UCO Bank Fixed Deposit

Here are some essential features and benefits of the UCO Bank FD interest rate:

  • Senior citizens enjoy special UCO Bank fixed deposit interest rates regardless of the size and frequency of deposits.
  • You can avail premature withdrawal facility and pay a nominal 1% penalty on the applicable interest rate.
  • Availability of transfer facility for FD account from one UCO Bank branch to another branch if there is a change in your home address or workplace.
  • A renewal facility is available after maturity; as a result, your deposits will continue providing you with regular interest. 
  • According to the bank rules, a loan facility against fixed deposits is also available.
  • UCO Bank also provides nomination facilities in case of the unfortunate death of a deposit holder.

How to Book UCO Bank FD?

You can book UCO Bank FDs through the online and offline processes:


Here are the steps you need to perform to open a UCO Bank Fixed Deposit account online:

Step 1: Visit the official website of UCO Bank and log in to your account. 

Step 2: Click on ‘Fixed Deposit’ and then select the ‘FD Scheme’ type you want to open.

Step 3: After proceeding, enter your deposit amount.

Step 4: Specify the deposit period and frequency of interest payment.

Step 5: Select the ‘Submit’ option to successfully open your UCO Bank FD.


Here are the steps you can follow to book your fixed deposit account and avail of UCO Bank FD rates via offline mode.

Step 1: Visit your nearest UCO Bank branch.

Step 2: Fill in the application form with the correct details and submit it. 

Step 3: Attach self-attested copies of the necessary documents to your application.

Step 4: Submit the cheque for the selected sum along with the application form.

After completing the above steps, you will get the details of your FD account. 

Documents Required to Book UCO Bank FD

Here is a list of important documents you need to submit to book a UCO Bank FD:

  • A fixed deposit application form
  • Identity proof – Aadhaar card, PAN card, passport, driving licence, Voter ID card, ration card, senior citizen ID card
  • Address proof – Passport, telephone bill, electricity bill, water bill, gas bill, bank statement, certificate or ID card issued by Post Office
  • Bank account details – account number, IFSC code, and branch name. 
  • 2 passport-size photographs
  • PAN Card or Form 60/61
  • Age proof – Birth certificate, school passing/graduation certificate

Eligibility to Open UCO Bank FD

You are required to meet the following eligibility criteria to open an FD account with UCO Bank:

  • Applicant type: Indian residents, NRIs, HUFs, Partnership firms, Sole proprietorships, Trusts, Companies, etc. 
  • Age (in case of individual applicants): 18 years or more.

Types of UCO Bank Fixed Deposit Schemes

UCO Bank provides various fixed deposit schemes with different interest rates for different deposit amounts and tenures. The following is a list of 6 important fixed deposit schemes of this bank and the UCO Bank FD rates:

1. Term Deposit Product UCO 444

Under the Term Deposit Product UCO 444 scheme, your interest is compounded quarterly. This scheme is valid till 30th September 2023. Moreover, this scheme provides both nomination and auto-renewal facilities. 

  • Minimum Deposit: ₹10,000 and multiples of ₹1,000 thereafter
  • Maximum Deposit: Below ₹2 crores
  • Tenure: 444 days
  • Interest Rate: Up to 7.05% p.a. (for general citizens) and 7.55% p.a. (for senior citizens)
  • Eligibility Criteria: Indian residents who are eligible for a regular fixed deposit scheme.

2. Kuber Yojana Scheme

The Kuber Yojana Scheme is a long-term deposit scheme. Your interest gets compounded every quarter as it gets reinvested. Upon maturity, you receive the entire accumulated sum, which includes both the principal and the interest. It is an ideal choice if you are looking for a safe long-term investment. 

  • Minimum Deposit: ₹1,000
  • Maximum Deposit: Below ₹2 crores
  • Tenure: 6 months to 10 years
  • Interest Rate: 6% to 6.5% p.a.
  • Eligibility Criteria: Indian residents who are eligible for the regular fixed deposit scheme.

3. UCO Monthly Income Scheme

In this scheme, you will receive simple interest payments without any deductions, and these will be credited on the first day of each month following the month when you open a new account. You have the option to nominate someone and access overdraft or loan facilities. For premature withdrawals, the interest payout will be at a 1% rate lower than the card rate.

  • Minimum Deposit: ₹50,000 and thereafter in multiples of ₹10,000
  • Maximum Deposit: ₹100 lakhs
  • Tenure: 5 years
  • Interest Rate: As applicable for 5 years.
  • Eligibility Criteria: Indian residents who are eligible depositors for the regular fixed deposit scheme.

4. UCO Tax Saver Deposit Scheme – 2006

According to Section 80C of the IT Act, you can claim tax deductions of up to ₹1.5 lakhs for deposits in a tax-saver FD. You can nominate someone and transfer your account from one branch to another. However, you cannot avail loan against this deposit or make an early withdrawal.

  • Minimum Deposit: ₹100
  • Maximum Deposit: ₹5 lakhs in a financial year
  • Tenure: 5 years
  • Interest Rate: 5% (for general citizens) and 5.5% (for senior citizens)
  • Eligibility Criteria: Indian residents – Individuals or Hindu Undivided Family

5. Flexible Fixed Deposit Scheme

With this UCO Bank FD scheme, you can make deposits via reinvestment plans. You can partially withdraw from this account without impacting the remaining balance to keep earning interest at the agreed-upon interest rate. You are able to withdraw in multiples of ₹5,000.

  • Minimum Deposit: ₹5,000
  • Maximum Deposit: No limit specified
  • Tenure: Same as regular FDs
  • Interest Rate: Rate as per regular FDs
  • Eligibility Criteria: Eligible depositors

6. Motor Accident Claim Term Deposit Account

Under this scheme, you receive the interest for the initial six months, followed by compound interest for the remaining duration. If you are a victim of a motor accident and a beneficiary of an accident claim, you will meet the eligibility requirements for this scheme. Furthermore, you cannot avail of loan advances, premature closure, or transfer your deposit account.

  • Minimum Deposit: According to the court order.
  • Maximum Deposit: According to the court order.
  • Tenure: As mentioned in the court order.
  • Interest Rate: Applicable as per court order.
  • Eligibility Criteria: Victims or beneficiaries of Motor Accidents (in accordance with the court order)

7. Foreign Currency Non-Resident (FCNR – B) Deposits

With Foreign Currency Non-Resident Deposit (FCNR) accounts, you can hold your foreign earnings in a foreign currency. UCO Bank accepts deposits in ten different currencies – USD, EUR, GBP, JPY, AUD, SEK, HKD, CAD, SGD, and CHF. Additionally, there is no loss from exchange rate fluctuation.

  • Minimum Deposit: USD 2,000 
  • Maximum Deposit: No upper limit specified
  • Tenure: 1 to 5 years 
  • Interest Rate: 0.02% to 5.1% p.a.
  • Eligibility Criteria: NRIs

8. Resident Foreign Currency Deposit

This scheme is favoured by returning NRI customers who plan to settle permanently after staying abroad for at least one year. You can hold an investment amount in this scheme in any one of the ten foreign currencies – USD, EUR, GBP, JPY, AUD, SEK, HKD, CAD, SGD, and CHF. You can later transfer these deposits into the FCNR – B account.

  • Minimum Deposit: USD 2,000 
  • Maximum Deposit:  No upper limit specified
  • Tenure: 1 year to 5 years
  • Interest Rate: 0.02% to 5.1% p.a.
  • Eligibility Criteria: NRIs who have returned to India for over a year

The FDs are perfect for individuals who value secured returns and do not want to take any investment-related risks. Before you invest your funds, take the time to thoroughly examine UCO Bank FD rates 2023. It will empower you to make well-informed choices, get a clear idea of potential pitfalls and seize opportunities.

In summary, UCO Bank offers a variety of FD schemes tailored to your financial needs and preferences. With appealing UCO Bank FD rates, flexible tenures, and an array of advantages, these FDs are designed to foster the growth of your savings and investments over time.


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