UCO Bank Domestic Term Deposit FD

A traditional type of savings account with a greater interest rate than a typical savings account is a Fixed Deposit (FD) account. An FD account is the first option for any cautious investor in India, as it provides a fixed return and is immune from volatility and market hazards. It is seen as a safe and dependable investment option.

The simplest option to generate a fixed interest income if you have some extra cash is to create a fixed-deposit (FD) account. But the amount placed, the time period, and the issuing bank all affect the rate of interest paid on a fixed deposit. The usual rule of thumb is that the interest rate will be higher the longer the period of the deposit. However, if interest rates are anticipated to decline in the future, a bank may potentially provide a lower rate of interest for a longer term. Interest rates at UCO Bank normally vary from 4% to 7% annually.

What is UCO Bank Domestic Term Deposit FD?

UCO Bank Domestic Term Deposit FD is a low-risk investment option for customers who want to earn higher interest on their savings. It allows customers to deposit a lump sum amount for a fixed period of time, ranging from 7 days to 10 years, at a fixed interest rate. On such tenures, UCO Bank offers FD interest rates of 2.90-7.15% p.a. to normal citizens and 3.15-7.25% p.a. to senior citizens. For the general public and senior citizens, the interest rates on UCO Tax Saving FDs is 6.10% p.a. and 6.60%, respectively.

For NRIs, the bank also provides a range of fixed deposit products, including NRE, RFC, and FCNR (B) fixed deposits. In addition to US Dollars (USD), British Pounds (GBP), Euros (EUR), Japanese Yen (JPY), Canadian Dollars (CAD), Australian Dollars (AUD), Singapore Dollars (SGD), and Hong Kong Dollars, UCO Bank now takes FCNR (B) fixed deposits and RFC fixed deposits (HKD).

Eligibility Criteria

The following organizations may open a UCO Bank FD:

• Indian nationals
• Individuals that live there
• Indian non-residents
• Individuals
• Undivided Hindu Family (HUF)

Documents Required

To begin their UCO Bank investments, investors must submit the following documentation.

• KYC records that serve as evidence of identity and address
• Among the accepted KYC papers are Aadhaar cards, PAN cards, driver's licences
• Power bills, and telephone bills
• The income evidence is a bank statement and a check
• photos the size of a passport
• Application for Term Deposits at UCO

Feature & Benefits of UCO Bank Domestic Term Deposits FD

UCO Bank Fixed Deposits provide the following benefits and features:

• Every three months, compound interest is calculated.
• Interest is paid at maturity.
• Various plans to meet different needs
• Tax Saver FDs offer income tax advantages under Section 80C of the Income Tax Act.
• The flexible fixed deposit plan allows withdrawals in multiples of Rs. 5,000 without affecting the remaining interest rate.
• You can earn risk-free profits with our quick, paperless fixed deposits.

How to Apply for UCO Bank Domestic Term Deposits FD

People can open a Domestic Term Deposit FD by visiting their nearby UCO Bank branch, using mobile banking, or going online.

By following these steps, current customers can open a domestic term fixed deposit using UCO Bank Internet Banking:

• Open the UCO Bank Internet Banking website and log in.
• Tap the domestic term FD option under the FD section.
• Complete the required account and nomination details.
• To make a term Deposit, enter the desired investment amount.
• Upon confirmation, money will be taken from the customer's savings account and it will start a fixed deposit account straight now.

The email address of the depositor will receive an e-advice. The communication address provided by the depositor will receive physical advice. The domestic term ‘Fixed Deposit’ guidance will appear in Internet Banking after one working day of FD booking.