UCO Bank FD Calculator
UCO Bank Fixed Deposit Calculator 2020
UCO Bank FDs have tenures ranging from 1 year to 3 years with maximum rate of interest of 5.25%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.75%.
| Tenure | Rates | Maturity Amount for ₹ 1 Lakh |
|---|---|---|
| 7 days to 14 days | 3.00% to 3.25% | ₹ 1,00,058 - ₹ 1,00,125 |
| 15 days to 29 days | 3.00% to 3.25% | ₹ 1,00,123 - ₹ 1,00,258 |
| 30 days to 45 days | 3.25% to 3.50% | ₹ 1,00,267 - ₹ 1,00,432 |
| 46 days to 60 days | 4.00% to 4.25% | ₹ 1,00,504 - ₹ 1,00,699 |
| 61 days to 90 days | 4.00% to 4.25% | ₹ 1,00,668 - ₹ 1,01,048 |
| 91 days to 180 days | 4.15% to 4.40% | ₹ 1,01,035 - ₹ 1,02,181 |
| 181 days to 364 days | 4.95% to 5.20% | ₹ 1,02,470 - ₹ 1,05,287 |
| 1 year | 5.25% to 5.50% | ₹ 1,05,354 - ₹ 1,05,614 |
| 1 year 1 day to 2 years | 5.25% to 5.75% | ₹ 1,05,369 - ₹ 1,12,096 |
| 2 years 1 day to 3 years | 5.25% to 5.75% | ₹ 1,11,011 - ₹ 1,18,681 |
| 3 years 1 day to 4 years 364 days | 5.20% to 5.70% | ₹ 1,16,782 - ₹ 1,32,689 |
| 5 years to 10 years | 5.20% to 5.70% | ₹ 1,29,476 - ₹ 1,76,117 |
UCO Bank Fixed Deposit Calculator
UCO Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.
UCO Bank Fixed Deposit Interest Calculator – Interest Payment Options
FD Maturity Calculator
The interest earned on a fixed deposit in UCO Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on UCO Bank FD can be calculated monthly, quarterly, half-yearly and annually. The interest rates for senior citizens are higher than normal rates of UCO Bank FD.
Suppose if you make an investment of ₹ 1,00,000 in UCO Bank FD for a 5-year tenure at an interest rate of 5.20% for depositors below 60 years and 5.70% for senior citizens. The maturity amount for this deposit amount is ₹ 1,29,476 and the total interest earned is ₹ 29,476 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 32,709 which is higher. The maturity schedule of UCO Bank FD for 5 years is explained below in the table –
Maturity Schedule for ₹ 1,00,000 FD at 5.20% for Citizens below 60 years and at 5.70% for Senior Citizens for 5 years
| Year | Citizens below 60 Years of Age | Senior Citizens above 60 Years | ||||
|---|---|---|---|---|---|---|
| Interest Earned | Closing Balance | Interest Earned | Closing Balance | |||
| 2020 | ₹ 1,737 | ₹ 1,01,737 | ₹ 1,904 | ₹ 1,01,904 | ||
| 2021 | ₹ 5,394 | ₹ 1,07,131 | ₹ 5,934 | ₹ 1,07,838 | ||
| 2022 | ₹ 5,680 | ₹ 1,12,811 | ₹ 6,279 | ₹ 1,14,117 | ||
| 2023 | ₹ 5,982 | ₹ 1,18,793 | ₹ 6,645 | ₹ 1,20,762 | ||
| 2024 | ₹ 6,299 | ₹ 1,25,092 | ₹ 7,032 | ₹ 1,27,794 | ||
| 2025 | ₹ 4,384 | ₹ 1,29,476 | ₹ 4,914 | ₹ 1,32,708 | ||
UCO Bank FD Calculator Formula
Along with online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on UCO Bank FD.
A = P (1 + r/n) ^ n*t
In the above formula –
FAQs
✅What is the highest interest earned on UCO Bank fixed deposit?
You can earn a maximum interest of 5.25% on UCO Bank fixed deposit.
✅How is UCO Bank FD interest calculated?
The formula to calculate interest on UCO Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.
✅How many years FD will double in UCO Bank?
The growth of UCO Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in UCO Bank FD. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.35%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.35 = 9.80. So it will take a little more than 14 years for one’s investment to get doubled in UCO Bank.
✅What are the minimum and maximum amounts that I can invest in an UCO Bank FD?
The minimum investment limit in UCO Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.
- 2020-08-04 : UCO Bank reports Rs. 21.46 crore PAT in Q1
UCO Bank posted a net profit of Rs.21.46 crores for the period ended June 30, 2020, as against a net profit of Rs.16.78 crores for the period ended March 31, 2020. The bank reported total income aided by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans of Rs.4436.57 crores during the period ended June 30, 2020. In addition to this, total deposits which include FD, RD, current and savings accounts increased by 1.4% to Rs 1,95,119.60 crore. - 2019-09-13 : UCO Bank revises its FD rates
With effect from September 10, 2019, UCO Bank has revised its FD rates. The latest rate of interest of 7-29 days is 4.50%; for 30-45 days it is 5%; for 46-90 days it is 5.50%; for 91-364 days the rate is 6%. The rate for a longer tenure of 1 year is 6.50%; for a period of 1-3 years it is 6.40%, and for three years and above the rate is 6.25%. - 2019-01-18 : UCO Bank revises interest rate on fixed deposits by 10 basis points
UCO Bank has revised the interest rate of fixed deposits on January 11, 2019. The interest rates have been hiked for fixed deposits less than Rs. 1 crore only. Interest rate of fixed deposit for one year days has been revised to 6.60% from 6.70 earlier. While the rates for above one year has been revised to 6.50% from 6.75 earlier. - 2018-08-10 : UCO Bank posts the Q1 loss of Rs 634 crore
UCO Bank announced Q1 result. It reported a net loss of Rs 633 crore for the first quarter. Asset quality of bank worsened with the gross non-performing assets (NPAs) hitting 25.71 percent of gross advances as on June 30, 2018 as against 19.87 percent by end-June 2017. Total income increased to Rs 4360 from Rs 4237 crore in the same period a year ago. - 2018-07-10 : UCO Bank maintains interest rate on FD
United Commercial Bank (UCO) has maintained its interest rate on retail fixed deposits or FDs below Rs. 1 crore. The rates continue to be in the range of 4.50% to 6.60%. The rates are currently effective.