UCO Bank

Domestic Schemes

DOMESTIC DEPOSITS

The Rate of Interest on Savings Bank Deposit( w.e.f 10.07.2019)

 

Balance Rate of Interest ( p.a)
Upto Rs 50 Lakhs 3.50%
Over Rs 50 Lakhs 3.75%

Rate(s) of interest on Domestic Term Deposits, stands revised with effect from 11.03.2019

Domestic Term Deposit rates for less than Rs. 2 Crore

Sr. No. Time Period Revised Rate w.e.f 11.03.2019 For Senior Citizen
1

7 - 14 Days

4.50%

4.75%

2

15 - 29 Days

4.50%

4.75%

3

30 - 45 Days

5.00%

5.25%

4

46 - 60 Days

5.50%

5.75%

5

61 - 90 Days

5.50%

5.75%

6

91 - 120 Days

6.00%

6.25%

7

121 - 150 Days

6.00%

6.25%

8

151-180  Days

6.00%

6.25%

9

181 to 364 days

6.35%

6.60%

10

1 year

6.60%

6.85%

11

More than 1 year upto 2 Years

6.50%

7.00%

12

Above 2 Years upto 3 Years

6.50%

7.00%

13

Above 3 Years and less than 5 Years

6.50%

7.00%

14

5 years and above

6.50%

7.00%

As per the decision taken by the Competent Authority rate of interest on Bulk Term deposit of Rs. 2 Cr and above upto & including Rs. 5.00 Crore stands revised as below w.e.f . 15.07.2019.

a) Term Deposits Of Rs. 2.00 Crore and above - upto & including Rs. 5.00 Crore

T&I/MUM/TDR/09/2019-20

Sr. No. Deposit period Single Term Deposit Rs. 2 Cr and above
upto & including Rs. 5.00 Crore
1 7-14 days 4.75
2 15-30 days 4.75
3 31-45 days 4.75
4 46-90 days 4.75
5 91-120 days 4.75
6 121-180 days 4.75
7 181 days to 1 year 4.75
8 >1 year to 2 years 5.25
9 >2 year to 3 years 4.75
10 >3 year to 5 years 4.75
11 Above 5 Years 4.75
  1. All Zonal Offices are advised to note the above mentioned interest rates for Bulk Term Deposit of Rs. 2.00 Crore and above upto & including Rs. 5.00 Crore are effective from 15-07-2019.
  2. The above card rates are valid for single deposit (Fresh & Renewal).
  3. No cash deposits to be accepted.
  4. Rate of Term Deposit should be quoted valid for one day only and wherever quote has to be valid for more than one day, prior permission should be obtained from Treasury Mumbai.
  5. For premature closure penal charges shall be 2.00% less than applicable rate for which the NRE term deposit was held by the branch as on the date of deposit or the prevailing rate of interest as on the date of premature closure whichever is lower.
  6. Under no circumstances branches are allowed to quote beyond the rates mentioned above. Zonal offices are advised to ensure strict compliance.
  7. The rates mentioned above supersede all the rates of interest on Bulk Term Deposit of Rs. 2.00 Crore and above upto & including Rs. 5.00 Crore circulated earlier vide our letter no. T&I/MUM/TDR/05/2019-20 dated 07-06-2019.
  8. Branches are advised to meticulously follow Policy on Accepting Bulk Deposits & Granting Loans/Advances against Bulk Deposit (circulated vide Ref No. CHO/IW/23/2016-17 dated 08-07-2016)

As per the decision taken by the Competent Authority rate of interest on Bulk Term deposit above Rs. 5.00 crores stands revised as below w.e.f. 15-07-2019

b) BULK TERM DEPOSITS ABOVE Rs. 5.00 CRORES – RATES EFFECTIVE FROM 15-07-2019

T&I/MUM/TDR/11/2019-20

Sr. No. Deposit period Above Rs. 5.00 Cr upto & including Rs. 25.00 Cr Above Rs.25.00 Cr upto & including Rs.100.00 Cr Above Rs.100.00 Cr
1 7 - 14 Days 4.75 4.75 4.75
2 15 - 30 Days 4.75 4.75 4.75
3 31-45 Days 4.75 4.75 4.75
4 46 – 90 Days 4.75 4.75 4.75
5 91 - 180 Days 4.75 4.75 4.75
6 181 - 210 Days 4.75 4.75 4.75
7 211- 270 days 4.75 4.75 4.75
8 271 days to 1 year 4.75 4.75 4.75
9 >1 year to 18 months 5.25 5.25 5.25
10 >18 months to 2 yrs 5.25 5.25 5.25
11 >2 Years to 3 Years 4.75 4.75 4.75
12 >3 years to 5 Years 4.75 4.75 4.75
13 Above 5 Years 4.75 4.75 4.75

  1. All Zonal Offices are advised to note the above mentioned interest rates for Bulk Term Deposit of above Rs.5.00 Crore are effective from 15-07-2019.
  2. The above card rates are valid for single deposit (Fresh & Renewal).
  3. No cash deposits to be accepted.
  4. The interest rate quoted is valid for the particular day only and whereas the quote has to be valid for more than one day, prior permission should be obtained from Treasury & Investment Department, Mumbai.
  5. For premature closure penal charges shall be 2.00% less than applicable rate for which the term deposit of was held by the branch as on the date of deposit or the prevailing rate of interest as on the date of premature closure whichever is lower.
  6. Under no circumstances branches are allowed to quote beyond the rates mentioned above. Zonal offices are advised to ensure strict compliance.
  7. The rates mentioned above supersede all the rates of interest on “Mid and Large Corporate deposits” circulated earlier vide our letter No. T&I/MUM/TDR-06/2019-20 dated 07-06-2019.
  8. For quoting rate of interest of deposit above Rs.5.00 Crore, Branches should make prior reference to Treasury & Investment Department, Mumbai.
  9. Branches are advised to meticulously follow Policy on Accepting Bulk Deposits & Granting Loans/ Advances against Bulk Deposit (circulated vide Ref No.CHO/IW/23/2016-17 dated 08-07-2016)

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