• Recurring Deposit
  • Uco Bank RD Interest Rates
Uco Bank RD Interest Rates

Uco Bank RD Interest Rates

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UCO Bank RD Interest Rates Mar 2024

TenureNormal Citizen RD RateSenior Citizen RD Rate
3 Months to 6 Months4.50%4.75%
6 Months to 9 Months5.00%5.25%
9 Months to 1 Year6.00%6.25%
1 Year to 2 Years6.50%7.00%
2 Years to 3 Years6.30%6.80%
3 Years to 5 Years6.20%6.70%
5 Years to 10 Years6.10%6.60%

Note: All interest rates shown above are as on 1st November 2023

UCO Bank RD Scheme Details

Tenure
3 Months to 10 Years
Public Interest Rates
4.50% to 6.50%
Senior Citizen Interest Rates
4.75% to 7.00%
Minimum Deposit Amount
Rs. 100
Premature Withdrawal
2% of deposit
Highest Rates for Public
6.50%
Highest Rates for Senior Citizen
7.00%

UCO Bank Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 6.20%For 5 years with interest of 6.10%
₹ 50,0001,51,5472,53,819
₹ 1 lakh3,03,0955,07,638
₹ 2 lakh6,06,18910,15,276
₹ 5 lakh15,15,47425,38,190
₹ 10 lakh30,30,94750,76,379

Compare UCO Bank vs Punjab National Bank Recurring Deposit

vs
Punjab National Bank
UCO Bank
UCO Bank
Maturity Amount3,03,0953,02,621
Total Investment Amount3,00,0003,00,000
Total Interest Gained3,0952,621

Compare RD Interest Rates of Other Banks

Bank NameRD Interest Rates
Punjab National Bank
Punjab National Bank
4.40% to 6.50%
City Union Bank
City Union Bank
5.75% to 6.50%
BOI Bank
BOI Bank
4.50% to 6.50%
Canara Bank
Canara Bank
5.25% to 6.90%
Indian Bank
Indian Bank
3.50% to 6.70%
BOB Bank
BOB Bank
4.50% to 7.05%
Central Bank of India
Central Bank of India
4.50% to 6.75%
Karur Vysya Bank
Karur Vysya Bank
6.00% to 7.00%
Union Bank of India
Union Bank of India
4.30% to 6.70%
Tamilnad Mercantile Bank
Tamilnad Mercantile Bank
5.75% to 7.00%
Karnataka Bank
Karnataka Bank
5.25% to 7.00%
Dhanlaxmi Bank
Dhanlaxmi Bank
6.50% to 6.75%
South Indian Bank
South Indian Bank
4.50% to 6.50%
Federal Bank
Federal Bank
5.00% to 7.30%
Bank of Maharashtra
Bank of Maharashtra
4.50% to 6.00%
Indian Overseas Bank
Indian Overseas Bank
4.50% to 6.80%
RBL Bank
RBL Bank
4.75% to 7.50%
State Bank of India
State Bank of India
4.50% to 7.00%
IDBI Bank
IDBI Bank
4.50% to 6.80%
Axis Bank
Axis Bank
4.75% to 7.10%
HDFC Bank
HDFC Bank
4.50% to 7.10%
ICICI Bank
ICICI Bank
4.75% to 7.00%
Indusind Bank
Indusind Bank
4.75% to 7.50%
Kotak Mahindra Bank
Kotak Mahindra Bank
4.00% to 7.10%
Yes Bank
Yes Bank
5.00% to 7.75%
Bandhan Bank
Bandhan Bank
4.50% to 7.25%
IDFC First Bank
IDFC First Bank
5.00% to 7.50%
Equitas Small Finance Bank
Equitas Small Finance Bank
7.25% to 8.20%
Capital Small Finance Bank
Capital Small Finance Bank
4.75% to 7.15%
Ujjivan Small Finance Bank
Ujjivan Small Finance Bank
4.75% to 7.50%
Fincare Small Finance Bank
Fincare Small Finance Bank
5.75% to 8.25%
ESAF Small Finance Bank
ESAF Small Finance Bank
5.25% to 8.50%
North East Small Finance Bank
North East Small Finance Bank
4.00% to 7.50%
Suryoday Small Finance Bank
Suryoday Small Finance Bank
5.00% to 8.50%
Utkarsh Small Finance Bank
Utkarsh Small Finance Bank
6.50% to 8.00%
Jana Small Finance Bank
Jana Small Finance Bank
4.00% to 8.50%
DBS Bank
DBS Bank
3.00% to 7.50%
Post Office
Post Office
6.90% to 7.50%

Frequently Asked Questions

What is the current interest rate of RD in UCO Bank?

The current highest UCO Bank RD rates for general citizen range from 4.50% to 6.50% and for senior citizen it ranges from 4.75% to 7.00% today 2024-03-01

How to open rd account in UCO Bank?

UCO Bank RD account can be opened with a minimum deposit of Rs. 100 with tenure ranging 3 Months to 10 Years. UCO Bank recurring deposit account can be opened online or by visiting UCO Bank branches with any ID proof like PAN card, Aadhar card, voter ID, or driving licence etc.

How to close rd in UCO Bank?

You can close your RD a/c online through "Close A/c" tab or by visiting the branch, this may cost you a penalty. The current premature closer penalty in UCO Bank RD is 2% of deposit.

How to calculate maturity and interest in UCO Bank recurring deposit ?

The maturity amount in UCO Bank recurring deposit account can be calculated by using A = P x(1 + R / N) ^ (NT) formula.
Where:
A: Maturity Amount
P: Recurring Deposit Amount
N: Number of times the interest is compounded
R: annual interest rate
T: Tenure
Example:
If you open recurring deposit account at the UCO Bank for 5 years and planed to invest INR 50,000.The current UCO Bank RD interest rate for 5 year is 6.10%.So using the above formula the maturity amount will be - Rs. 35,12,392.

What is UCO Bank RD interest rates for 1 year in 2024 ?

The UCO Bank recurring deposit for 12 months or 1 year is 7.00% for senior citizen and 6.50% for others.

Calculate UCO Bank Returns

36
3.2 %

1,00,000

Total Investment

0

Wealth Gained

0

Maturity Amount

Invest in SIP to earn ₹37,83,253 moreExplore Best SIP Plans

About UCO Bank Recurring Deposit

You can add to your savings with the UCO Recurring Deposit at your convenience. With your regular paycheck, you can begin saving any fixed amount each month, ranging from 100 to less than 10 Lakh. You can have the agreed-upon amount deposited into the account or taken out of your savings account every month. You may monitor your recurring transactions, apply for a loan against your account, and do much more with our RD facility.

UCO Bank RD Features

  • You can pre-plan your savings for a future objective.
  • You can save consistently for a predetermined amount of time.
  • The deposit term may range from one year to ten years.
  • This RD can begin with a minimum of Rs. 100.
  • Get interest rates comparable to ordinary fixed deposits for a considerably smaller monthly commitment.
  • You may monitor your recurrent transactions, apply for a loan against your account, and do much more with our RD facility.

UCO Bank RD Account Eligibility and Documents Required

The following people are eligible to open an RD with UCO Bank:

  • Registered Institutions like educational institutions, clubs, groups, associations, trusts, businesses, and partnerships, as long as they’re registered and joint ventures are eligible.
  • Minors above ten years of age, represented by their legal guardians or any other guardian designated by the court, are eligible.
  • Minors alone can be eligible if they are literate(can read/write) and have reached the age of ten.
  • An individual can start a Recurring Deposit Account in his name or by more than one individual in their joint name.
  • An illiterate person can open a Recurring Deposit Account and use his thumb impression to operate it.
  • A minor cannot open a recurring deposit account in their name or on behalf of someone whose account is to be run under a cross mark or by using another person’s signature.

.

The following are the documents required to open an RD with UCO Bank:

  • Identity Proof of the applicant
  • Address Proof of the applicant
  • Form for account opening prescribed by the bank.
  • Copies of the Pan Card.
  • Applicant’s two recent passport-size photos.

UCO Bank RD Schemes

UCO Sowbhagya(RD) – Unique Recurring Deposit Scheme

  • This scheme allows you to change monthly instalments for greater returns upon maturity while offering all the conveniences of a regular recurring deposit.
  •  Those who want to save monthly money through a recurring deposit but with a variable payment schedule can benefit from this arrangement.
  •  The customer will receive the maturity amount, which is the total of all paid instalments plus interest, at the close of the maturity period.
  • The scheme’s minimum deposit is Rs. 100 per month, and deposits beyond that are made in multiples of Rs. 100. 
  • A monthly deposit of up to Rs. 1 lac can be made, with ten times the initial deposit allowed.
  • Approval for a loan will be up to 90% of the RDUSS amount deposited, and the bank will charge interest 2% higher than the deposit rates.
  • Cash deposit or intra-bank/intra-city fund transfer fees to credit one’s RDUSS account are available.
  • Monthly transfers of money via SI from a current or savings bank account to a self-managed RDUSS account to pay monthly instalments.
  • One month’s default is not penalised. A penalty applies if no money is deposited by the second month or beyond.
  • If you delay any instalment for longer than a month, a penalty is not applicable as long as it doesn’t happen consecutively for two months.

Conclusion

Regular deposits will increase your savings because interest accumulates over time. As a result, a longer duration entails more interest. A lump sum payment for the maturity value is made at the end of the term.

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