UCO Bank Savings Scheme: The Reserve Bank of India announced the decisions taken in the MPC meeting on Friday. RBI Governor said that the repo rate will be kept constant at 5.25 percent. Last year, RBI had reduced the repo rate by 1.25 percent. Due to this reduction in repo rate, while loans became cheaper, on the other hand, the interest rates on FD also reduced. However, many banks are still offering attractive interest on FD. Today we will learn about an FD scheme of UCO Bank, in which if you deposit just Rs 1 lakh, you can get fixed interest up to Rs 38,042 on maturity.
UCO Bank is giving interest up to 7.95 percent on FD accounts
Public sector UCO Bank is giving interest ranging from 2.90 percent to 7.95 percent to its customers on FD accounts. This government bank is giving the highest interest to its customers on FD scheme of 444 days. UCO Bank is offering the highest interest rate of 6.45 percent to general customers, 6.95 percent to senior citizens, 7.45 percent to its staff and 7.95 percent to its retired senior citizen staff on its 444 days special FD scheme. This bank is giving 6.00 percent interest to general citizens and 6.50 percent interest to senior citizens on 5 year FD.
On depositing Rs 1 lakh, you will get fixed interest up to Rs 38,042
If you are a normal citizen and deposit Rs 1 lakh in a 5-year FD in UCO Bank, then you will get a total of Rs 1,34,686 on maturity, which also includes fixed interest of Rs 34,686. If you are a senior citizen and deposit Rs 1 lakh in a 5-year FD in UCO Bank, then you will get a total of Rs 1,38,042 on maturity, which also includes fixed interest of Rs 38,042. Let us tell you that under the FD scheme, you get a fixed amount of interest along with the principal amount after a fixed period of time and there are no pros and cons.
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