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UCO Bank FD Calculator

UCO Bank Fixed Deposit Calculator 2022

Last Updated 12th Jan 2022

UCO Bank FDs have tenures ranging from 3 years 1 day to 10 years with maximum rate of interest of 5.05%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.55%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 29 days 2.55% 2.80% ₹ 1,00,049 - ₹ 1,00,222
30 days to 45 days 2.80% 3.05% ₹ 1,00,230 - ₹ 1,00,376
46 days to 60 days 3.55% 3.80% ₹ 1,00,447 - ₹ 1,00,625
61 days to 90 days 3.55% 3.80% ₹ 1,00,593 - ₹ 1,00,937
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UCO Bank Fixed Deposit Calculator

UCO Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded 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. Banks may allow a higher interest rate on larger deposits. UCO Bank offers a deposit amount in the range of Rs. 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 5.05% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years 1 day to 10 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 2.55% for a 3 years 1 day FD and a rate of 5.05% for a 10 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 - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.55%. 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 a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

UCO Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- 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.
  • Cumulative- 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.

How is UCO Bank FD Rate Calculated?

UCO Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

UCO Bank FD Maturity Calculation for 5 Year

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.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in UCO Bank FD for a 5-year tenure at an interest rate of 5.05% for depositors below 60 years and 5.55% for senior citizens.The maturity schedule of UCO Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.05% for Citizens below 60 years and at 5.55% 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
2022 ₹ 5,146 ₹ 1,05,146 ₹ 5,667 ₹ 1,05,667
2023 ₹ 5,411 ₹ 1,10,557 ₹ 5,988 ₹ 1,11,655
2024 ₹ 5,690 ₹ 1,16,247 ₹ 6,327 ₹ 1,17,982
2025 ₹ 5,983 ₹ 1,22,230 ₹ 6,686 ₹ 1,24,668
2026 ₹ 6,290 ₹ 1,28,520 ₹ 7,064 ₹ 1,31,732

UCO Bank FD Calculator Formula

Along with an 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

Other Investment Calculators

FAQs

What is the highest interest earned on UCO Bank fixed deposit?

You can earn a maximum interest of 5.05% on UCO Bank fixed deposits.

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.You can also use UCO Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. 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.

Can I withdraw my premature FD from UCO Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from pays applicable ROI for actual duration of deposit of FD amount for premature withdrawal.

How can I calculate UCO Bank premature FD amount?

To calculate premature FD amount you can use UCO Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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UCO Bank News - Jan 2022
  • 2021-06-08 : To promote and help with the covid vaccination drive, Banks to offer higher rates on FDs
    Kolkata-based UCO bank is offering a 0.30% higher rate on FD of 999 days for all those who have taken covid vaccine. This step is taken by the bank to encourage more people to get their Covid-19 vaccination.
  • 2020-12-17 : Revised FD rates for UCO bank
    With effect from December 10, 2020, UCO Bank has revised its FD rates. The latest rate of interest for 7-29 days is 2.75%; for 30-45 days it is 3%; for 46-90 days it is 3.75%; for 91-180 days is 3.90% and the for 181- 364 days the rate is 4.70%. Further, the rate for a longer tenure of 1 year is 4.90%; for a period of 1 year one day to 10 years it is 5%.
  • 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.
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