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UCO Bank NRE FD
The Uco Bank NRE tenure ranges from min 1 Year to max 5 Year 1 Months 8 Days . The ROI ranges from 6.20% to 6.50 % for the general public. The lock-in period for this scheme is 5 Year
Uco Bank NRE Scheme for amount ranging from ₹ 2.0 Cr to ₹ 5.0 Cr
The rate of interest for deposited amount ranging from ₹ 2.0 Cr to ₹ 5.0 Cr is as below
Tenure | Interest Rate for General Public (p.a.) |
|---|---|
| 1 Year Upto 2 Year | 6.50% p.a. |
| 2 Year Upto 3 Year | 6.30% p.a. |
| 3 Year Upto 5 Year 1 Months 7 Days | 6.20% p.a. |
| Upto 5 Year 1 Months 8 Days | 6.20% p.a. |
| Upto 1 Year | 6.50% p.a. |
Uco Bank NRE Scheme for amount below ₹ 2.0 Cr
The rate of interest for deposited amount less than ₹ 2.0 Cr is as below
Tenure | Interest Rate for General Public (p.a.) |
|---|---|
| 1 Year Upto 2 Year | 6.50% p.a. |
| 2 Year Upto 3 Year | 6.30% p.a. |
| 3 Year Upto 5 Year 1 Months 7 Days | 6.20% p.a. |
| Upto 5 Year 1 Months 8 Days | 6.20% p.a. |
| Upto 1 Year | 6.50% p.a. |
Key features of Uco Bank NRE Scheme
Summary of Uco Bank NRE Scheme features :
| Mutual Fund Schemes | NRE |
| CRISIL Rating | AA+CRISIL Rating |
| Lock-in Days | 5 Year |
| Loan Against FD | NA |
| Pre-mature Withdrawal | -- |
| FD Nominee | -- |
| Tenure | 1 Year to 5 Year 1 Months 8 Days |
| General Public | 6.20% to 6.50 % |
| Senior Citizen | -- |
| Amount | Rs.20,000,000 to Rs.500,00000 |
*Interest rates are subject to change at the discretion of the bank. These Interest rates are with effect from 10 November 2021.
What is UCO Bank NRE FD?
An NRI or POI must create an NRE account with UCO Bank and deposit the required funds at the agreed-upon interest rate and duration in order to receive the benefits of the account.
The maturity amount will be given to the account holder after the maturity period has ended and interest has been accumulated on the principal. The maturity amount will be given to the nominee or beneficiary in the event of the account holder’s death.
Eligibility Criteria
Given below are the eligibility criteria for UCO Bank NRE FD:
- Citizen of India
- Individual should be a resident
- Non-resident Indians
- Hindu Undivided Families
Documents Required
To begin their UCO Bank investments, investors must submit the following documentation.
- Identities and addresses are verified by KYC records
- Documents accepted for KYC include Aadhaar cards, PAN cards, and driver’s licenses
- Telephone and power bills
- Bank statements and checks are evidence of income
- Passport-sized photos
- UCO Term Deposit Application
Types of UCO Bank NRE FD Schemes
UCO Bank provides three kinds of schemes for NRIs:
- UCO Bank Non-Resident External (NRE) Deposits
- UCO Bank Non-Resident Ordinary (NRO) Deposits
- UCO Bank Foreign Currency Non-Resident (Bank) {(FCNR) (B)} Deposits
Features & Benefits
Some of the major key features of UCO Bank NRE FD schemes are as follows:
| Mutual Fund Schemes | NRE |
| CRISIL Rating | AA+CRISIL Rating |
| Lock-in Days | 5 Year |
| Loan Against FD | NA |
| Premature Withdrawal | — |
| FD Nominee | — |
| Tenure | 1 Year to 5 Year 1 Months 8 Days |
| General Public | 5.00% to 6.35 % |
| Senior Citizen | — |
| Amount | Rs.20,000,000 to Rs.500,00000 |
The following are the advantages to the customer of opening an NRE FD account with UCO Bank:
- It is a simple, effective, rapid, and traditional method of sending money to India from abroad.
- Nomination facility is available, and liquidity is simple.
- the availability of loans secured by deposits in FD accounts.
- Option for early closure with a requirement to impose a fine.
How to Apply for UCO Bank NRE FD
Consumers can open a Domestic Term Deposit FD by going online, visiting a nearby UCO Bank location, or using mobile banking.
Current clients can use UCO Bank Internet Banking to open a domestic term fixed deposit by doing the following:
- Log in by using the UCO Bank Online Banking webpage.
- Choose “domestic term FD” from the FD section.
- Fill out the necessary account and nomination information.
- Type in the desired investment amount to create a term deposit.
- Upon approval, funds will be transferred from the customer’s savings account and a fixed deposit account will be opened immediately.
An e-advice will be sent to the depositor’s email address. Physical advice will be delivered to the communication address the depositor specified. After one working day after FD booking, the domestic term “Fixed Deposit” guideline will show up in Internet Banking.
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FAQs
Can I do FD from NRE account?
Yes, an applicant with an NRE account can opt to open an FD with the UCO Bank.
Which bank is best for NRE fixed deposits?
There are many banks that provide the NRE fixed deposit scheme, but UCO Bank is one of the best because it provides good interest rates and better facilities when it comes to NRE fixed deposits.
