UCO Bank Hikes Interest Rates On Long Term Deposits of 5 Years & Above

UCO Bank, a public sector lender, has raised its long-term deposit interest rates. This change has been performed by the bank today, 11.03.2022. The bank formerly offered a 5.10 percent interest rate on long-term deposits maturing in 5 years and above; however, with today's modification, the bank will now provide a 5.30 percent interest rate, a 20 basis point increase on the tenor. Senior citizens will continue to get an additional rate of 0.25 percent on deposits maturing in 7 days to 1 year, and an additional rate of 0.50 percent on deposits maturing in more than 1 year to 5 years and above. Senior citizens will now get a 5.80 percent interest rate on deposits maturing in 5 years and above, up from 5.60 percent previously.

UCO Bank Fixed Deposit Interest Rates For Regular Customers

With effect from March 11, 2022, the following table shows the interest rates offered to the general public on domestic term deposits of less than Rs 2 crores.

Tenor	Interest rate per annum
7 - 14 Days	2.55%
15 - 29 Days	2.55%
30 - 45 Days	2.80%
46 - 60 Days	3.55%
61 - 90 Days	3.55%
91 - 120 Days	3.70%
121 - 150 Days	3.70%
151-180 Days	3.70%
181 to 364 days	4.40%
1 year	5.10%
More than 1 year but upto 2 Years	5.10%
Above 2 Years upto 3 Years	5.10%
Above 3 Years and less than 5 Years	5.30%
5 years and above	5.30%
Source: Bank Website

UCO Bank Fixed Deposit Interest Rates For Senior Citizens

The following table displays the interest rates provided to senior citizens on domestic term deposits of less than Rs 2 crores as of March 11, 2022.

Tenor	Interest rate per annum
7 - 14 Days	2.80%
15 - 29 Days	2.80%
30 - 45 Days	3.05%
46 - 60 Days	3.80%
61 - 90 Days	3.80%
91 - 120 Days	3.95%
121 - 150 Days	3.95%
151-180 Days	3.95%
181 to 364 days	4.65%
1 year	5.35%
More than 1 year but upto 2 Years	5.60%
Above 2 Years upto 3 Years	5.60%
Above 3 Years and less than 5 Years	5.80%
5 years and above	5.80%
Source: Bank Website

Note

Indian Overseas Bank (IOB) hiked interest rates on fixed deposits of three years and above yesterday. From March 10, 2022, the bank will provide a 5.45 percent interest rate to the general public, up from 5.20 percent previously. Domestic/NRO/NRE Retail Term Deposits of less than Rs 2 Cr would be subject to the new interest rates. Click here for detailed details.