• Public sector lender UCO Bank has increased interest rates on fixed deposits of less than ₹2 crore.
Public sector lender UCO Bank has increased interest rates on fixed deposits of less than ₹2 crore. As per the official website of the bank, the new rates are effective from 19.12.2022. After the revision, the bank increased interest rates on fixed deposits by up to 25 bps for tenures ranging from one year to ten years. As per today's announcement, UCO Bank is now offering deposits maturing in 666 days at a maximum interest rate of 6.75% for general public and 7.25% for senior citizens.
uco bank fd rates
The bank is now offering an interest rate of 2.90% on deposits maturing in the next 7 to 29 days, and it will continue to offer an interest rate of 3.00% on deposits maturing in the next 30 to 45 days. On deposits maturing in 46 to 120 days, UCO Bank will continue to offer an interest rate of 4.00%, and on deposits maturing in 121 to 150 days, the bank will continue to offer an interest rate of 4.50%.
Deposits with maturity between 151 and 180 days will continue to earn 5.00% interest, and deposits with maturity between 181 and 364 days will continue to earn 6.00% interest. The bank increased interest rates on deposits maturing in one year by 15 basis points to 6.35% to 6.50% and by 10 basis points to 6.20% to 6.30% on deposits maturing within one year and up to two years. On deposits maturing between 2 and 5 years, UCO Bank increased interest rates by 20 basis points (bps), increasing them from 6.00% to 6.20%.
On deposits maturing in 5 years or more, the bank increased interest rates by 10 bps, raising them from 6.00% to 6.10%. Deposits maturing in 444 days will now fetch interest at 6.50% (up from 6.25% earlier), representing an increase of 25 basis points, while those maturing in 666 days will now fetch 6.75% (up from 6.50 basis points). interest at the rate above). % prior), indicating a 25 basis point increase.
UCO Bank will pay additional interest at the rate of 1.00%, 1.25% and 1.50% respectively on deposits made by employees and retired employees senior citizens for a period of up to one year.
Meanwhile, today PNB and Indian Bank also hiked interest rates on retail fixed deposits of less than ₹2 crore, following RBI's increase in repo rate by 0.35% from 5.9% to 6.25% in the monetary policy meeting held on December 7. conforms to. , 2022. PNB hiked FD rates by 40 bps for tenors ranging from three years to 10 years and by 95 bps on 666 days. PNB will start offering a maximum interest rate of 7.25% for general public, 7.75% for senior citizens and 8.05% for very senior citizens on deposits maturing in 666 days. "IND SHAKTI 555 DAYS" Special Retail Fixed Deposit instrument with a minimum amount of Rs. 5000 and operates for 555 days with an interest rate of 7.00% for general public and 7.15% for senior citizens, has been made available by Indian Bank today.
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