FD rate hike: Good news! State Bank UCO increased interest rates, check the latest rates!

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There is good news for those investors who consider investing in FD as one of their safe investment options. In the State Bank of UCO, interest rates on FDs of less than Rs 2 crore were increased by 0.45 percent or 45 basis points.

Banks have recently increased the interest rates on FDs with tenures ranging from 7 days to 5 years and above. At present, the bank gives a discount of 2.90 percent to 5.75 percent on FDs to the common citizens. Senior citizens are also given interest ranging from 3.15 percent to 6 percent in FDs with different conditions.

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Interest in UCO Bank FD:

The bank now offers 2.90 percent interest on FDs of 7 to 29 days, which was earlier 2.55 percent. The bank has increased the interest on FDs of 30 to 45 days by 0.20 percent, so now 3.00 percent interest is available on FDs of this period. UCO Bank's interest rate on FDs with a period of 46 to 90 days is now 3.50 percent and on FDs with a period of 91 to 180 days, it has increased from 3.70 percent to 3.75 percent.

The bank is now offering 4.65 percent interest on FDs with tenures between 181 and 364 days instead of the previous 4.40 percent. As a result, the interest rate on FDs for one year to two years has increased from 0.45 percent to 5.75 percent. Earlier, for this period, the bank was giving interest at the rate of 5.30 percent on FDs. The interest rate on FDs of more than two years but less than three years has increased from 5.30 percent to 5.60 percent. 

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Interest rates on long-term FDs:

In UCO Bank, the bank pays 5.60 percent interest on FDs of more than three years but less than five years. FD interest rates have also been increased from 5.30 percent to 5.50 percent for loans with a tenure of five years or more. There has been an increase of 0.20 percent.