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UCO Bank FCNR Rates
An FCNR deposit with UCO Bank is typically a fixed deposit account that allows depositors to maintain the deposits in their designated currencies, including USD, SGD, AUD, GBP, EUR, YEN, and HKD. The funds can be deposited for a tenure ranging from 1 year to 5 years. The principal amount and the interest earned from UCO Bank FCNR rates are fully repatriable, meaning they can be easily transferred to your country of residence hassle-free.
Returns as high
as 6.9%*
Includes life cover
Completely Tax free+
as 6.9%*
Includes life cover
Completely Tax free+
Maximum returns Offered by
Guaranteed
Highest
6.9%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
6.9%***
Public Provident Fund
(other popular options)
(15 Years)
Get Guaranteed returns upto 6.9%*
Fully Tax-Free, Life Cover Included
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FD Interest Rates
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UCO Bank FD Rates
- UCO Bank FCNR Rates
UCO Bank FCNR Rates
Below are the current interest rates for the NRI account providing FCNR deposits:
| In (%) | |||||||||
| Tenor | USD | GBP | EUR | JPY | CAD | AUD | CHF | SGD | HKD |
| 1 Year to less than 2 Years | 5.1 | 3.5 | 2 | 0.11 | 4 | 3.3 | 0 | 0.75 | 0.75 |
| 2 Year to less than3 Years | 3.75 | 2.8 | 1.3 | 0.13 | 3.8 | 3 | 0.02 | 0.9 | 0.85 |
| 3 Year to less than 4 Years | 3 | 2.3 | 0.5 | 0.13 | 2.8 | 2.1 | 0.07 | 0.9 | 0.85 |
| 4 Year to less than 5 Years | 3.65 | 2.3 | 0.5 | 0.14 | 2.8 | 2.2 | 0.07 | 0.9 | 0.85 |
| 5 Years only | 3.65 | 2.3 | 0.5 | 0.17 | 2.8 | 2.25 | 0.07 | 0.9 | 0.85 |
Information About
Guaranteed Return Plans
Returns Before Tax
6.9%* (TAX-FREE)
Returns After Tax
6.9%*
Guaranteed Returns
Yes
Life Cover
Yes
Tax on Profit
Tax Free*
Risk
No Risk
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Returns After Tax
4.8%
Guaranteed Returns
Yes
Life Cover
No
Tax on Profit
Taxable
Risk
Low Risk
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
Returns After Tax
5.5%
Guaranteed Returns
No
Life Cover
No
Tax on Profit
Taxable
Risk
High Risk
*For annual premium upto ₹5 Lacs
UCO Bank FCNR Account Features
UCO Bank FCNR account offers the following features:
- Multiple Currency Options: FCNR deposits can be opened in several foreign currencies, including USD, GBP, JPY, AUD, EUR and CAD.
- Competitive Interest Rates: The Bank offers attractive UCO Bank FCNR rates on its FCNR accounts.
- Tax Exemption: Interest earned on FCNR deposits is exempt from income tax in India.
- Fully Repatriable: Both principal and interest are freely repatriable without restrictions.
- Fixed Deposit Nature: FCNR accounts are offered as term deposits (fixed deposits) for specific tenures, providing stable returns.
Eligibility to Open UCO Bank FCNR Account
NRIs are eligible to open an FCNR account and enjoy the benefits offered by the account including competitive UCO Bank FCNR rates, interest rates tax-exemption, full repatriation, etc.
How to Open UCO Bank FCNR Account?
NRIs can open an FCNR deposit account by providing the required KYC documents and duly filled application form at any UCO Bank branch or through authorized NRI banking channels. The deposit must be made through inward remittance from abroad in the relevant foreign currency.
Documents Required to Open a UCO Bank FCNR Account?
The following common documents are required to open FCNR account at UCO Bank:
- Duly filled application form
- Copy of Passport / Visa / Green Card
- Recent photographs of each account holder (one photo to be affixed on the application form)
- Overseas and Indian addresses with contact details such as phone, fax, and email
- Initial deposit amount
- Any other document required by the bank
Conclusion
The UCO Bank FCNR account is a reliable option for NRIs, PIOs, and OCIs to earn secure, tax-free returns on their foreign income in multiple currencies. With flexible tenures, full repatriation, and competitive UCO Bank FCNR rates, it serves as a smart investment channel for those living abroad. Explore your options and grow your savings with assured returns.
FAQs
-
What is the best fixed deposit option for NRIs?
The word ‘best’ is subjective. However, if you are looking to invest in an account where you can maintain your foreign currency earnings in India, an FCNR account could be a suitable option. Many reputed banks, including UCO Bank, Yes Bank, HDFC Bank, etc., offer FCNR accounts. These accounts allow you to invest in India while keeping your funds in a foreign currency, protecting them from exchange rate fluctuations. -
Why should I invest in FCNR?
If you are an NRI, parking your foreign currency in an FCNR account allows you to hold funds in foreign currencies such as USD, GBP, or EUR. This protects both the original deposit and any interest earned from changes in the value of the Indian rupee, making it a good option to secure your foreign income from a potentially weakening rupee. -
Are the funds in a UCO Bank FCNR account repatriable?
Yes, both the principal and the interest are fully repatriable without any restrictions. -
How can I open a UCO Bank FCNR account?
You can open it by submitting KYC documents and an application form at any UCO Bank branch or through authorized NRI banking channels. -
What documents are required to open a UCO Bank FCNR account?
You need a filled application form, passport/visa copy, photographs, overseas and Indian contact details, and the initial deposit. -
Can I open an FCNR deposit with funds from my NRE or savings account?
No, FCNR deposits must be funded via inward remittance in foreign currency from abroad.
*All savings are provided by the insurer as per the IRDAI approved
insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per
applicable tax slabs post 31st march 2023
#Discount offered by insurance company
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
˜The insurers/plans mentioned are arranged in order of highest to lowest first year premium (sum of individual single premium and individual non-single premium) offered by Policybazaar’s insurer partners offering life insurance investment plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
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