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UCO Bank FD Calculator

UCO Bank Fixed Deposit Calculator 2020

Last Updated 10th Sep 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
UCO Bank FD Maturity Calculator
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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.

  • Deposit amount – This is the initial amount deposited by a customer in UCO Bank. Bank may allow higher interest rate on larger deposits. UCO Bank offers deposit amount in the range of 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. UCO Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by UCO Bank is 5.25% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 1 year to 3 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 3.00% for a 1 year FD and a rate of 5.25% for a 3 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 3.00%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      UCO Bank calculates quarterly interest on its fixed deposits. You can also opt for tax saving scheme to save tax on fixed deposit.

UCO Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • In a periodic interest payout option, UCO Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a UCO Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

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 –

  • A - Amount received on maturity
  • P – Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

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.


UCO Bank News - Sep 2020
  • 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.
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