UCO Bank, one of India's longstanding banks, offers a range of fixed deposit (FD) options designed to meet various customer needs. Opening an FD account is simple, requiring an initial minimum deposit. After activation, no further deposits can be made, ensuring consistent investment planning. UCO Bank's fixed deposits provide numerous advantages, like attractive interest rates and adaptable tenure options.

Each FD scheme by UCO Bank is tailored to specific financial objectives. Let's delve into some notable schemes:

• Kuber Yojana Scheme:
  Minimum deposit: Rs. 1000
  Interest rates: 4.50% to 6.75% per year
  Compounded quarterly
  Maturity span: 6 months to 10 years
• UCO Monthly Income Deposit Scheme:
  Minimum deposit: Rs. 50,000
  Provides regular monthly income
  Interest compounded quarterly
  Loan or overdraft facilities against the deposit available
• UCO Tax Saver Fixed Deposit Scheme:
  Minimum deposit: Rs. 100
  Tax benefits under Section 80C
  5-year lock-in period
• Flexible Fixed Deposit Scheme:
  Permits partial early withdrawal in multiples of Rs. 5,000
  Ideal for emergency fund needs

Interest rates for UCO Bank FDs differ by tenure:

• Short-term (7 days to 12 months): 2.75% to 4.90% per annum
• Medium-term (over 1 year to under 5 years): 5.00% per annum
• Long-term (5 to 10 years): 5.00% per annum

To start an FD account, visit a UCO Bank branch, fill out the application, and provide KYC documents along with the deposit. FDs are available for individuals, Hindu Undivided Families, companies, trusts, and societies.

The interest from UCO Bank FDs is taxable according to income tax slabs, with a 10% Tax Deducted at Source (TDS) on interest income over Rs. 40,000 annually. For seniors, the threshold is Rs. 50,000 per year.

UCO Bank also offers loans against FDs, financing up to 90% of the FD value, with interest rates between 5.5% and 7.3% for FD holders.

Premature FD closure is allowed with a 1% interest penalty less than the agreed interest rate.

In summary, UCO Bank's diverse FD options, competitive interest rates, and flexible tenures equip customers to choose schemes that fit their financial goals, making investing with UCO Bank a beneficial experience.