• Fixed Deposit
  • UCO Bank
  • UCO Bank Fixed Deposit

Formerly United Commercial Bank

UCO Bank Fixed Deposit

UCO Bank Fixed Deposit

Public SectorNA 


Interest for 3 years

UCO Bank FD Interest Rates February 2023

Historical FD Rates →
TenureNormal Citizen FD RateSenior Citizen FD Rate
7 days - 1 month 1 day2.9%3.15%
1 month 2 days - 1 month 17 days3%3.25%
1 month 18 days - 3 months 1 day4%4.25%
3 months 2 days - 5 months4.5%4.75%
5 months 1 day - 5 months 30 days5%5.25%
6 months - 11 months 30 days6%6.25%
1 year - 1 year6.75%6.75%
1 year 1 day - 1 year 2 months 18 days6.5%6.8%
1 year 2 months 19 days - 1 year 2 months 19 days7%7%
1 year 2 months 20 days - 1 year 9 months 26 days6.5%6.8%
1 year 9 months 27 days - 1 year 9 months 27 days7.15%7.25%
1 year 9 months 28 days - 1 year 11 months 30 days6.5%6.8%
2 years - 2 years 11 months 29 days6.3%6.7%
2 years 11 months 30 days - 4 years 11 months 29 days6.2%6.7%
4 years 11 months 30 days - 9 years 11 months 28 days6.1%6.6%

Note: All interest rates shown below are as on 2nd Feb 2023

About UCO Bank FD

UCO Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is a major nationalised bank. It is under the ownership of Ministry of Finance, Government of India. It is one of the 12 public sector Bank of india. It also has two overseas branches in Singapore and Hong Kong. UCO Bank's headquarters is on BTM Sarani, Kolkata.


2.9% - 7.15%

FD Rate

3.15% - 7.25%

FD Rate for Seniors

₹ 100

Minimum Deposit

₹ 2 Crores

Maximum Deposit




FD Tenure


Loan against FD



UCO Bank FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 6.2%For 5 years with interest of 6.1%
₹ 50,000 ₹ 60,192₹ 67,779
₹ 1 lakh ₹ 120,385₹ 135,558
₹ 2 lakh ₹ 240,769₹ 271,115
₹ 5 lakh ₹ 601,923₹ 677,789
₹ 10 lakh ₹ 1,203,846₹ 1,355,577

Compare UCO Bank Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

Shriram Finance FD
Maturity Amount 106,963 108,149
Total Investment Amount₹ 100,000₹ 100,000
Total Interest Gained6,963 8,149

Compare UCO Bank Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
Shriram Finance FD
7.86% - 8.36%
Suryoday Small Finance Bank FD
7.25% - 7.75%
Tripura Gramin Bank FD
5.5% - 6%
Baroda UP Bank FD
6.1% - 6.6%
Deutsche Bank FD
7.5% - 7.75%
7% - 7.5%
Punjab Gramin Bank FD
6.25% - 6.25%
Dakshin Bihar Gramin Bank FD
5.6% - 5.6%
Jharkhand Rajya Gramin Bank FD
5.5% - 5.75%
Mahindra Finance FD
7.5% - 7.75%

Calculate UCO Bank FD Returns

₹ 100,000

Total Investment


Wealth Gained

₹ 106,963

Maturity Amount

Explore Debt Funds, instead!

The flexible & tax efficient alternative to FDs.

UCO Bank offers various FDs for both short-term and long-term. The bank offers higher interest rates than the UCO Bank deposit rates on saving accounts. Also, the bank offers preferential interest rates to senior citizens on their FD investments. In this article, we have covered UCO Bank FDs and its interest rates.

UCO Bank FD Interest Rates 2023

The following table shows UCO FD interest rates for different tenures.

TenureRegular FD RatesSenior Citizen FD Rates
7 days to 14 days2.75%3.00%
15 days to 29 days2.75%3.00%
30 days to 45 days3.00%3.25%
46 days to 60 days3.75%4.00%
61 days to 90 days3.75%4.00%
91 days to 180 days3.90%4.15%
181 days to 364 days4.70%4.95%
1 year4.90%5.15%
1 year 1 day to 2 years5.00%5.50%
2 years 1 day to 3 years5.00%5.50%
3 years 1 day to 4 years 364 days5.00%5.50%
5 years to 10 years5.00%5.50%
Note: UCO FD rates are revised periodically

UCO Bank fixed deposit interest rates are higher than their savings account rates. For regular citizens, the UCO Bank fixed deposit rates range between 2.75% and 5%. The UCO Bank FD rates for senior citizens is in the range between 3% and 5.5%. Also, the UCO Bank FD rate for senior citizens is higher by 0.25% for FDs below a tenure of 1 year. Furthermore, for FDs above the tenure of 1 year, they get an additional rate of 0.5%. The interest is compounded on a quarterly basis but paid upon maturity.

The highest FD rates in UCO bank are 5% for a regular investor for 1-10 years. Also, for the same tenure, UCO bank FD interest rates for senior citizens is 5.5%. Moreover, returns from UCO fixed deposits can be calculated using the UCO Bank FD calculator.

Key Features of UCO Bank Fixed Deposit

The FD interest rates in UCO Bank are higher than the interest on their savings account. Following are the key features of UCO Bank fixed deposits:


UCO bank fixed deposit tenure ranges between 7 days to 10 years. Once invested, one cannot change the tenure of UCO Bank FD investment. However, they can prematurely withdraw their investment. Also, investors can close the existing UCO Bank FD and start a new FD with the desired tenure.

Minimum and Maximum Deposit Amount

The minimum and maximum investment amount depends on the type of fixed deposit. Following are the minimum and maximum restriction limits.

  • Kuber Yojana: Minimum investment is INR 1,000. No limit on maximum investment.
  • UCO Monthly Income Scheme: Minimum investment is INR 50,000. The maximum investment is INR 1 crore.
  • UCO Tax saver deposit – Minimum investment is INR 100, maximum is INR 1.5 lakhs

UCO Bank FD Interest Rate

The rate of interest for UCO Bank fixed deposits range between 2.75% and 5% for a tenure of 7 days to 10 years. Also, returns from UCO fixed deposits can be calculated using the UCO Bank fixed deposit calculator.

Preferential Interest Rates

Senior citizens are offered preferential interest rates on their fixed deposit investments. They are offered an additional rate of 0.25% for FDs below a tenure of 1 year. Furthermore, for FDs above the tenure of 1year, they get an additional rate of 0.5%. Hence the rate of interest for senior citizen FDs range between 3%-5.5%.


To open a fixed deposit account with UCO Bank, one has to be eligible. Following are the eligible persons and entities.

  • Resident individual
  • Sole proprietorship
  • Joint-stock companies
  • Partnership firms
  • Executors and administrators
  • Educational institutions and trusts

Documents required

To open an FD account with UCO Bank, one would need the following documents

  • FD application form
  • 2 passport size photographs
  • Proof of identity (PAN card, Aadhar Card, Senior Citizen ID card, Voter ID, Driving License, Passport)
  • Proof of address (electricity bill, water bill, gas bill, passport, bank statement with cheque)

Additional Payments

It is not possible to deposit any additional amount in existing UCO Bank term deposits. However, one can always invest in a fresh UCO FD with the additional amount.

Tax and TDS

Investment in UCO Tax Saver Fixed Deposit qualifies for tax saving under Section 80C of the Income Tax Act, 1961. This can be claimed while filing income tax returns. Also, all other UCO Bank FDs do not qualify for tax saving.

The interest income on UCO Bank FDs is taxable as per the individual investor’s income tax slab rates. Furthermore, UCO Bank cuts TDS by 10% (20% if the PAN Card details aren’t furnished) is the interest income per annum exceeds INR 40,000 (INR 50,000 for senior citizens).

One can estimate the interest income they might earn from UCO Bank FD using a bank fixed deposit calculator. This will also help them determine whether the interest income is above or below the TDS threshold limit. Furthermore, to estimate the tax liability, one can use an Income Tax Calculator. Scripbox Income Tax calculator is available online and is also free to use.


Under the Deposit Insurance Scheme of RBI, DICGC insures all UCO Bank term deposits up to INR 5,00,000.

Premature withdrawal

UCO allows premature withdrawal of their fixed deposits, however with a penalty of 1% interest below the contractual interest rate.

Nomination Facility

Depositors can nominate beneficiaries for their UCO Bank fixed deposits.


UCO Bank offers auto-renewal facilities to depositors for their fixed deposits.


UCO Bank provides depositors with the convenience of opening and also managing term deposit investments online.

Loan against FD and Overdraft

UCO Bank allows investors to take a loan against their fixed deposits to meet their liquidity requirements instead of breaking their FD. The loan is granted as per the existing rules of the bank which change from time to time.

Investors of UCO Bank FDs can take loans such as loan against property (home loan), education loans, business loans, etc., against their FD investments. They can also calculate the loan EMI using the loan EMI calculator. The loan EMI calculator also works as a home loan EMI calculator. It also works as a personal loan EMI calculator and car loan EMI calculator. Investors can also use the EMI calculator in multiple scenarios by changing the variables like home loan interest rate. They can also change the personal loan interest rate and car loan interest rate.

Pan Card

A PAN card is mandatory to open a UCO Bank FD account. In case the PAN Card is not submitted, then the UCO Bank will cut TDS at 20%, as per the regulations of section 206AA, instead of the regular 10%. Also, UCO Bank will not issue any TDS certificate. Moreover, form 15G, form 15H, and all exemption certificates will be invalid.

Requirement of savings account

Individuals need not have a UCO bank account to open a fixed deposit account.

Types of Fixed Deposit Schemes offered by UCO Bank

Following are the types of FD schemes offered by UCO Bank:

  • Kuber Yojana
  • UCO Monthly Income Scheme
  • UCO Bank Tax Saver Deposit Scheme
  • Flexible Fixed Deposit Scheme

Types of Fixed Deposit Schemes: In Detail

Kuber Yojana

Kuber Yojana is a long term fixed deposit scheme, where the interest gets compounded every quarter by way of reinvestment. Also, the scheme is suitable for long term investments. The entire amount (interest plus principal) is paid upon maturity. Following are the features of the scheme:

  • Tenure: 6 months to 120 months
  • Minimum Deposit Amount: INR 1,000

UCO Monthly Income Scheme

The scheme offers monthly income to its depositors by way of interest income. Following are the features of the scheme:

  • Tenure: 5 years
  • Minimum Deposit Amount: INR 50,000, and in multiples of INR 10,0000 thereafter.
  • Maximum Deposit Amount: INR 100 lac
  • Premature withdrawal: Allowed, however, the bank pays lesser interest rates.
  • Loan/ Overdraft Facility: Available, as per bank guidelines.
  • Nomination Facility: Available

UCO Tax Saver Deposit Scheme

The Tax Saver deposit offers tax benefits on deposits up to INR 1,50,000 under Section 80C of the Income Tax Act. Following are the features of the scheme:

  • Lock-in period: 5 years
  • Minimum Deposit Amount: INR 100
  • Maximum Deposit Amount: INR 1,50,000
  • Premature withdrawal: Not permitted
  • Loan/ Overdraft Facility: Not permitted.
  • Nomination Facility: Available

Flexible Fixed Deposit Scheme

This scheme is accepted under the reinvestment plan. However, the difference is that a part of the deposit can be prematurely withdrawn without affecting the remaining portion. Also, the remaining amount shall continue to earn interest at the agreed rate. Furthermore, withdrawals are acceptable only in multiples of INR 5,000. The scheme helps in taking care of the emergency needs.

Does UCO Bank offer Recurring Deposits?

Yes, UCO bank offers recurring deposits. Also, the UCO Sowbhagya Recurring Deposit Scheme offers all facilities of a regular RD scheme. Additionally, it also offers the flexibility of varying monthly instalments for a higher yield on maturity.

TenureGeneral RatesSenior Citizen Rates
1 year5.00%5.25%
1 year 1 day to 2 years5.00%5.50%
2 years 1 day to 3 years5.00%5.50%
3 years 1 day to 5 years4.95%5.45%
5 years and above4.95%5.45%
Note: UCO Bank revises RD interest rates periodically

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