Rate of Interest on UCO Bank Non-Resident External (NRE) FD Account Deposits
FD interest rates offered on NRE accounts are competitive and offer stable returns. The interest rates received on UCO Bank NRE Fixed Deposit accounts amounting to less than ₹2 crore and ₹3 crore to ₹10 crore are as follows:
| Tenors |
Interest Rate (%p.a.) Less than Rs 2 Crs |
| 1 Year |
6.50% |
| Above 1Year - 443 days |
6.50% |
| 445 days -2 Yrs |
6.50% |
| Above 2 Years - 3 Years |
6.30% |
| Above 3 Years - 5 Years |
6.20% |
| 5 Years and above |
6.20% |
| 400 days |
7.05% |
| 444 days* |
7.05% |
Note: Interest rates are effective from June 2023, and the rate for the tenor of 444 days* is effective from February 2025. UCO Bank NRE FD rates are subject to change without prior notice.
Information About
Fixed Deposits, Guaranteed Return Plans & Debt Mutual Fund
Guaranteed Return Plans, Fixed Deposits &
Debt Mutual Fund
Guaranteed Return Plans
Returns Before Tax
7.1% (TAX-FREE)
Fixed Deposits
Returns Before Tax
7% (TAXABLE)
Debt Mutual Fund
Returns Before Tax
8% (TAXABLE)
VIEW PLANS
*For annual premium upto ₹5 Lacs
The interest rates received on UCO Bank NRE Fixed Deposit accounts amounting to ₹3 crore and upto & including ₹10 crore are as follows:
| Tenors |
Interest Rate (%p.a.) ₹3 crore and upto & including ₹10 crore |
| 1 year |
6.25 |
| Above 1 year to 2 years |
6.25 |
| Above 2 years but less than 3 years |
5.50 |
| 3 years & above but less than 5 years |
5.50 |
| 5 years & above |
5.50 |
Note: Interest rates are effective from April 2025. UCO Bank NRE FD rates are subject to change without prior notice.
The interest rates received on UCO Bank NRE Fixed Deposit accounts amounting to above ₹10 crore to above ₹100 crore are as follows:
| Tenors |
Interest Rate (%p.a.) Above ₹10 crore to above ₹100 crore |
| 1 year |
6.90 |
| Above 1 year to 2 years |
6.25 |
| Above 2 years but less than 5 years |
5.50 |
| 5 years & above |
5.50 |
Note: Interest rates are effective from April 2025. UCO Bank NRE FD rates are subject to change without prior notice.
Benefits of a UCO Bank NRE FD Account?
Besides FD rates, the UCO Bank NRE FD offers various advantages to its customers including:
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The UCO Bank NRE FDs offer tax advantages on the interest accrued.
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The UCO Bank NRE FDs are held in Indian Rupees, thus shielding your funds from foreign exchange rate volatility.
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The bank recognizes varied individual needs and provides flexible deposit tenures ranging from 1 year to 5 years and above.
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The UCO Bank NRE FD accounts offer joint account facilities with another NRI or an Indian resident. The joint account opened with an Indian resident is offered on a former or survivor basis.
What Are the Eligibility Criteria for a UCO Bank NRE FD Account?
The following conditions are to be fulfilled in order to open a UCO Bank NRE FD account:
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The candidate must be a non-resident individual of Indian origin.
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The candidate must belong to the category of a foreign national or a foreign national student.
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A document to verify Indian and overseas addresses.
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Must have one copy of a valid passport.
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Proof to establish NRI, foreign national, foreign national student, PIO, or OCI status.
How to Open a UCO Bank NRE FD Account?
Existing or new customers who have qualified for NRI eligibility can open an NRE account by visiting a bank branch or sending required documents, including the account opening form, to the UCO Bank first, and then open an NRE FD account. Applicants are requested to follow the bank's instructions to book an NRE FD with the bank.
Documents Required to Open a UCO Bank NRE Account
To open a UCO Bank NRE account, the following general documents are to be submitted by you for the bank to review before opening your NRE FD account:
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ID proof: Passport
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Address proof (India & overseas)
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Proof of Tax
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Proof of NRI, foreign national, foreign national student, Seafarer, PIO or OCI status
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Overseas work/residence proof (visa/permit)
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Copy of PAN or Form 60
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Copy of Aadhar
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Passport-size photograph
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Any other document required by the bank.
Conclusion
A secure way for NRIs to invest their money and grow it is through an NRE FD account. There are several investment options for NRIs, but one of the easiest ways for them to judiciously invest and grow their earnings from abroad is by investing in a NRE FDs. You can manage your funds in India without much hassle. With complete information on UCO Bank NRE FD rates, you can invest and grow your savings rapidly.
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