All About UCO Bank NRE FD Interest Rates

UCO Bank offers the best-fixed deposit/term deposit plans for Non-Resident Indians (NRIs)/Persons of Indian Residents with a high interest rate. This applies to various deposit amounts ranging from less than Rs 2 crore to above Rs 100 crore. Customers can earn good returns on these deposits without taking high risks.

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What is the UCO Bank NRE Account? 

To get the benefits of the UCO Bank NRE account, an NRI/ POI needs to open the NRE account in UCO Bank and has to deposit the amount at a specified interest rate and opted term. 

At the end of the maturity period, the interest will be compounded on the principal amount; the maturity amount will be handed over to the account holder. In case of the account holder's demise, the maturity amount will be handed over to the nominee/ beneficiary. 

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An Overview- UCO Bank NRE FD Interest Rates

The interest rates on the NRE (Non- Resident External) Fixed Deposit/ Term Deposits are given below:

Domestic Term Deposit Rates (Below Rs. 2 Crores)

Rates with effect from 1st April 2022:

Tenure General Public Senior Citizens
7 days to 14 days 2.55% 2.80%
15 days to 29 days 2.55% 2.80%
30 days to 45 days 2.80% 3.05%
46 days to 60 days 3.55% 3.80%
61 days to 90 days 3.55% 3.80%
91 days to 120 days 3.70% 3.95%
121 days to 150 days 3.70% 3.95%
151 days to 180 days 3.70% 3.95%
181 days to 364 days 4.40% 4.65%
1 year 5.10% 5.35%
More than 1 year to 2 years 5.10% 5.60%
More than 2 years to 3 years 5.10% 5.60%
More than 3 years to 5 years 5.30% 5.80%
5 years and above 5.30% 5.80%

Domestic Term Deposit Rates (Above Rs. 2 Crores but less than Rs. 5 Crores)

Rates with effect from 1st April 2022:

Tenure Interest Rate (Per Annum)
7 days to 14 days 3.00%
15 days to 30 days 3.00%
31 days to 45 days 3.00%
46 days to 90 days 3.00%
91 days to 180 days 3.00%
181 days to 210 days 3.00%
211 days to 270 days 3.00%
271 days to 1 year 3.40%
More than 1 year to 2 years 3.40%
More than 2 years to 3 years 3.25%
More than 3 years to 5 years 3.25%
5 years and above 3.25%

UCO Bank NRE FD Interest Rates for the Deposits Less than Rs 2 crore

Rates with effect from 1st April 2022:

Deposit Tenure Interest Rates
1 year 5.10%
More than 1 year to 2 years 5.10%
More than 2 years to 3 years  5.10%
More than 3 years to less than 5 years 5.10%
More than 5 years and above  5.10%

Disclaimer: UCO Bank NRE fixed deposit rates may change from time to time as the changes occur in the market conditions or due to the bank’s discretion.

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Bulk Interest rates for the fixed deposits Rs 2 crore to Rs 5 crore: 

NRE Term Deposit Rates (Above Rs. 2 Crores but less than Rs. 5 Crores)

Rates with effect from 1st April 2022:

Deposit Term  Interest Rates
1 year 3.90%
More than 1 year to 2 years 3.90%
More than 2 years to less than 3 years 3.90%
3 years and above to less than 5 years 3.90%
5 years and above  3.90%

Disclaimer: UCO Bank NRE fixed deposit rates may change from time to time as the changes occur in the market conditions or due to the bank's discretion.

Investment Plans for NRIsInvestment Plans for NRIs

Bulk Interest rates for the fixed deposits above Rs 5 crore to including Rs 25 crore: 

UCO Bank NRE FD Interest Rates for the Deposits Above Rs 5 crore to Including Rs 25 crore (With the reference number T&I/ MUM/ NRETDR/ 34/ 2021- 2022)

Deposit Term  Existing Interest Rates Revised Interest Rates 
1 year 3.40% 3.40%
More than 1 year to 2 years 3.40% 3.40%
More than 2 years to less than 3 years 3.25% 3.25%
5 years and above  3.25% 3.25%

Disclaimer: UCO Bank NRE fixed deposit rates may change from time to time as the changes occur in the market conditions or due to the bank’s discretion.

Bulk Interest rates for the fixed deposits above Rs 25 crore to including Rs 100 crore: 

UCO Bank NRE FD Interest Rates for the Deposits Above Rs 25 crore to Including Rs 100 crore(With the reference number T&I/ MUM/ NRETDR/ 34/ 2021- 2022)

Deposit Term  Existing Interest Rates Revised Interest Rates
1 year 3.40% 3.40%
More than 1 year to 2 years 3.40% 3.40%
More than 2 years to less than 3 years 3.25% 3.25%
5 years and above  3.25% 3.25%

Disclaimer: UCO Bank NRE fixed deposit rates may change from time to time as the changes occur in the market conditions or due to the bank’s discretion.

Investment Plans for NRIsInvestment Plans for NRIs

Bulk Interest rates for the fixed deposits above Rs 100 crore: 

UCO Bank NRE FD Interest Rates for the Deposits Above Rs 100 crore(With the reference number T&I/ MUM/ NRETDR/ 34/ 2021- 2022)

Deposit Term  Existing Interest Rates Revised Interest Rates 
1 year 3.50% 3.40%
More than 1 year to 2 years 3.50% 3.40%
More than 2 years to less than 3 years 3.25% 3.25%
5 years and above  3.25% 3.25%

Disclaimer: UCO Bank NRE fixed deposit rates may change from time to time as the changes occur in the market conditions or due to the bank’s discretion.

FCNR(B) Foreign Currency Non-Resident Deposits

Rates with effect from 10th July 2021:

Tenure USD GBP EUR JPY CAD AUD CHF SGD HKD
1 years to 2 years 0.88% 0.48% 0.01% 0.01% 0.72% 0.14% 0 0.71% 0.93%
2 years to 3 years 0.87% 0.51% 0.01% 0.04% 0.63% 0.15% 0 0.77% 0.96%
3 years to 4 years 0.96% 0.57% 0.01% 0.05% 0.73% 0.22% 0.03% 0.84% 1.01%
4 years to 5 years 0.98% 0.62% 0.01% 0.06% 0.82% 0.28% 0.08% 0.94% 1.06%
5 years 0.01% 0.67% 0.01% 0.06% 0.98% 0.36% 0.14% 1.04% 1.13%

What are the Features of the UCO Bank NRE Account?

The following are some of the features of the UCO Bank NRE account are given below:

  1. Loan Facility

    UCO Bank will provide a loan facility against NRE FD deposits for the NRI and the Indian residents in Indian rupees.

  2. Joint Accounts

    An NRI/ PIO can open the FD NRE account in UCO Bank jointly either with the other NRI/ PIO or any other Indian resident (former or survivor). 

  3. Remittance in Any Currency

    Remittances from overseas must be made to the UCO Bank in convertible rupees or the currencies such as USD, GBP, EUR, JPY, etc.

  4. Repatriation

    The principal amount and the accumulated interest will be repatriable in the UCO Bank.

  5. Tax Benefit

    Income tax and wealth tax are exempted from the tax under the Indian Income Tax. 

    Note: The tax benefit is subject to change as per the existing laws.

SIP Investment for NRIsSIP Investment for NRIs

About UCO Bank Fixed Deposit Interest Rate Calculator

UCO Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

How Can Customers Benefit from UCO Bank NRE Account?

The benefits of the customer by availing the NRE FD account in UCO Bank are:

  • It is an easy, efficient, quick and conventional channel to transfer money to India from overseas.
  • Availability of nomination facility and easy liquidity.
  • The facility of loan against the FD accounts deposits.
  • The premature closure option with the condition of imposing the penalty.
Investment Plans for NRIsInvestment Plans for NRIs

Wrapping it Up

UCO Bank NRE FD account provides a reasonable and safe return to the customers who have deposits in it. At the same time, the customers can also get various benefits. Before proceeding with any fixed deposits with the bank, please make sure to check the interest rates with them.

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