UCO Bank FD schemes

In fact, in UCO Bank, three different categories of Fixed Deposit accounts are there.

a) Fixed deposits having duration of less than 6 months.

Duration of such Fixed Deposits are mentioned in “days” and the principal and interest for the period of deposit is paid in lump sum on the due date.

b) Fixed Deposits having duration of 6 months or more but up to 120 months.

Duration of such fixed deposits is mentioned in “months” and the interest on the deposit amount is paid at quarterly intervals, whereas the principal amount is paid on “due date” against the remaining balance of interest due.

c) The same type of Fixed Deposits as described in point b) above, but interest at discounted rate paid at monthly intervals, whereas the principal amount is paid on due date.