UCO Bank Saving Account Interest Rates

UCO Bank Saving Account Interest Rates

Founded in 1943, UCO Bank is a commercial bank and a Government of India Undertaking. Its Board of Directors consists of government representatives from the Government of India and Reserve Bank of India as well as eminent professionals like accountants, management experts, economists, businessmen, etc.

Our Vision Statement

To emerge as the most trusted, admired and sought-after world class financial institution and to be the most preferred destination for every customer and investor and a place of pride for its employees.

Our Mission Statement

To be a Top-class Bank to achieve sustained growth of business and profitability, fulfilling socio-economic obligations, excellence in customer service; through upgradation of skills of staff and their effective participation making use of state-of-the-art technology.

Global banking has changed rapidly and UCO Bank has worked hard to adapt to these changes. The Bank looks forward to the future with excitement and a commitment to bring greater benefits to you.

UCO Bank, with years of dedicated service to the Nation through active financial participation in all segments of the economy – Agriculture, Industry, Trade & Commerce, Service Sector, Infrastructure Sector etc., is keeping pace with the changing environment. With a countrywide network of more than 2500 service units which includes specialised and computerised branches in India and overseas, UCO Bank has marched into the 21st Century matched with dynamism and growth.

DOMESTIC DEPOSITS

– Rate(s) of interest on Domestic Term Deposits stands revised with effect from 30.05.2013

NOTE-1The bank shall accept deposits for a minimum period of 7 days provided minimum deposit amount is Rs.15 lacs & above.
NOTE-2The deposits rates on the above term slab shall be applicable for all deposits up to Rs. 5 crores contracted afresh/renewal hereafter.
NOTE-3The incentive rate of interest to Sr. Citizen payable on deposit amount of less than Rs. 1 crore as under

Term

Additional Interest Payable

Deposits maturing upto 1 Year

0.25%

Deposits maturing above 1 Year

0.50%

NOTE-4The additional rate payable on the deposits of Staff/Ex-staff/Ex-staff Sr. Citizen is as per the following

Category

Term

Additional Rate Payable

Staff/Ex-Staff

All Terms

1.00%

Ex-Staff Sr. Citizen

All Terms

1.25%

NOTE-5The overall amount ceiling for Ex-staff/ Ex-Staff Sr. Citizen to receive incentive rate shall be equal to his Terminal benefits + Rs.10 lacs

Revision in rate of interest in Term Deposits of Rs. 1 crore and aboveto Rs. 5 crore – rates effective from – 05.08.2013

a) TERM DEPOSITS Rs. 1.00 CRORES AND ABOVE TO Rs. 5.00 CRORES

Circular No. CHO/RM/15/2013-14

Sr.
No.

Maturity Period

Interest Rate in % p.a.

01.

7-14 days

7.50

02.

15-29 days

7.50

03.

30-45 days

7.50

04.

46-60 days

7.50

05.

61-90 days

8.00

06.

91-120 days

8.50

07.

121-150 days

8.50

08.

151-183 Days

8.50

09.

184-364 Days

8.50

10.

1 year

8.70

11.

More than 1 year but up to 2 years

8.75

12.

Above 2 years and up to 3 years

8.75

13.

Above 3 years and less than 5 years

8.75

14.

5 years and above

8.75

b) TERM DEPOSITS ABOVE Rs. 5.00 CRORES – Rates effective from – 13.08.2013

T&I: MUM :TDR:012:2013-14

Sr. No.

Time Period

Term Deposit above Rs. 5.00 Cr

Present Rate

Revised Rate

01.

7 – 14 Days

7.25

7.25

02.

15 – 30 Days

8.25

8.25

03.

31 – 60 Days

9.25

9.25

04.

61 – 91 Days

9.75

9.82

05.

92 – 130 Days

9.80

9.85

06.

131 – 183 Days

9.00

9.00

07.

184 – 269 Days

8.20

8.20

08.

270 – 359 Days

8.40

8.40

09.

360 -375 Days

8.75

8.75

10.

376 Days – < 2 Years

8.50

8.50

11.

2 Years but < 3 Years

8.50

8.50

12.

3 Years but < 5 Years

8.25

8.25

13.

5 Years & above

8.25

8.25

SAVINGS BANK DEPOSIT

Interest Rate payable on Savings Bank Deposit Accounts is @4.00% per annum with effect from 03.05.2011

NON-RESIDENT DEPOSIT SCHEMES

Revision in Rate of Interest in NRE Term Deposits of Rs. 1.00 Crore and above to Rs. 5.00 Crores – Rates effective from – 15.07.2013 :

(A) NRE Rupee Term Deposit :

Sr. No.

Period

Less than Rs. 1 Crore

01.

1 year and above upto 3 years

8.75%

02.

Above 3 years but less than 5 years

8.75%

03.

5 years and above upto 10 years

8.75%

Sr. No.

Time Period

NRE Term Deposit
Rs. 1.00 Crores and
above to Rs. 5.00 Crores

01.

1 year

8.70

02.

More than 1 year upto 2 years

8.75

03.

Above 2 years upto 3 years

8.75

04.

Above 3 years to less than 5 years

8.75

05.

5 years and above

8.75

  1. All Zonal Offices are requested to note the above mentioned interest rates for NRE Term Deposits of above Rs. 1.00 Crore and above upto 5.00 crores effective from 15.07.2013.
  2. The above card rates are valid for single deposits (Fresh & Renewal).
  3. No cash deposits to be accepted.
  4. Term Deposit mobilized with the above rates should be advised to Integrated Treasury Branch, Mumbai on the same day by Zonal Offices/Branches.
  5. Rate of Term Deposit should be quoted valid for one day only. Whenever quote is to be given for more than one day, prior permission should be obtained from DGM, Treasury Branch, Mumbai or General Manager, T & IW, HO, Kolkata.
  6. For premature closure penal charges shall be 1% less than applicable rate for which the term deposit of more than 1.00 Crore and above to 5.00 crores was held by the branch as on the date of deposit or the present rate as on the date of premature closure whichever is lower.
  7. Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and FGM offices are requested to ensure strict compliance.
  8. As per the latest ALM Policy, the term deposit ‘above 5.00 Cr to 25.00 Cr‘ and ‘above 25.00 Cr‘ are termed as ‘Mid Corporate’ and ‘Large Corporate’ Term Deposits, respectively and in future, reporting has to be made under the said category, accordingly.

NRE TERM DEPOSITS ABOVE Rs. 5.00 CRORES – RATES EFFECTIVE FROM – 15.07.2013:

Sr. No.

Time Period

NRE – TERM DEPOSIT
ABOVE Rs. 5.00 CRORES

01.

365 -375 Days

8.25

02.

376 Days – < 2 Years

8.50

03.

2 Years but < 3 Years

8.50

04.

3 Years but < 5 Years

8.25

05.

5 Years & above

8.25

  1. All Zonal Offices are requested to note the above mentioned interest rates for NRE Term Deposits of above Rs. 5.00 Crore are effective from 15.07.2013.
  2. The above card rates are valid for single deposits (Fresh & Renewal).
  3. No cash deposits to be accepted.
  4. For premature closure penal charges shall be 1% less than applicable rate for which the term deposit of more than 5.00 Crore was held by the branch as on the date of deposit or the present rate as on the date of premature closure whichever is lower.
  5. Under no circumstances branches are allowed to quote beyond the rates mentioned supra. Zonal offices and FGM offices are requested to ensure strict compliance.

(B) Revised interest rates on FCNR(B) deposits (effective from 15.08.2013)

Currency

1 year to less than 2 years

2 years to less than 3 years

3 years to less than 4 years

4 years to less than 5 years

5 years only

USD

(%)

2.67

2.48

4.78

5.17

5.56

GBP

(%)

2.86

2.71

4.87

5.11

5.41

EUR

(%)

2.47

2.56

4.74

4.96

5.20

JPY

(%)

2.41

2.28

4.32

4.38

4.46

CAD

(%)

3.37

3.55

5.78

6.03

6.26

AUD

(%)

4.48

4.65

6.89

7.19

7.42

CHF

(%)

2.24

2.20

4.34

4.52

4.73

NZD

(%)

4.91

5.37

7.71

7.97

8.18

SEK

(%)

3.28

3.45

5.67

5.89

6.11

SGD

(%)

2.48

2.71

5.00

5.41

5.80

HKD

(%)

2.51

2.65

4.93

5.31

5.70

MYR

(%)

5.28

5.37

7.48

7.70

7.84

[Presently branches are advised not to take any deposit in NZD & MYR currencies due to some technical reason.]

(C) Revised interest rate on RFC deposits (effective from 15.08.2013) :

SAVINGS BANK:

CURRENCY (%) – GBP (0.50%) and AUD (3.00%) [For all other currencies no rate has been prescribed]

TERM DEPOSITS:

Currency

1 year to less than 2 years

2 years to less than 3 years

3 years to less than 4 years

4 years to less than 5 years

5 years only

USD

(%)

2.67

2.48

4.78

5.17

5.56

GBP

(%)

2.86

2.71

4.87

5.11

5.41

EUR

(%)

2.47

2.56

4.74

4.96

5.20

JPY

(%)

2.41

2.28

4.32

4.38

4.46

CAD

(%)

3.37

3.55

5.78

6.03

6.26

AUD

(%)

4.48

4.65

6.89

7.19

7.42

CHF

(%)

2.24

2.20

4.34

4.52

4.73

NZD

(%)

4.91

5.37

7.71

7.97

8.18

SEK

(%)

3.28

3.45

5.67

5.89

6.11

SGD

(%)

2.48

2.71

5.00

5.41

5.80

HKD

(%)

2.51

2.65

4.93

5.31

5.70

MYR

(%)

5.28

5.37

7.48

7.70

7.84

NRNR and NRSR Deposits : Discontinued w.e.f. 01.04.02. The existing accounts under NRNR Deposit scheme may be continued only upto the date of maturity. The existing NRSR accounts other than Term Deposits shall not be continued after 30.09.02

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