Kolkata-based UCO Bank has revised its rates of interest on repo charge linked financial savings deposits and time period deposits. The announcement comes after RBI retains the repo charge unchanged at 4% for the eleventh time in a row. A retired employees senior citizen would be the greatest beneficiary in time period deposits under ₹2 crore.
Repo charge linked financial savings deposits:
Post-RBI’s first bi-monthly financial coverage for FY23, UCO Bank revised its repo charge linked to financial savings financial institution deposit charges. With impact from April 10, UCO Bank presents 2.60% every year on financial savings deposits linked with repo charge, as much as ₹10 lakh. The rate of interest is 2.75% on deposits greater than ₹10 lakh, nevertheless, they don’t seem to be linked with the repo charge.
Retired Staff Senior Citizens:
Furthermore, UCO Bank has revised further curiosity advantages on home time period deposits under ₹2 crore for retired employees (senior residents). The financial institution has raised rates of interest within the vary of 5-25 foundation factors for this class on numerous tenures with impact from April 11.
A senior citizen who’s an ex-staff at UCO Bank will earn a 6.60% rate of interest on time period deposits under ₹2 crore from the present 6.40%. While the financial institution will provide a 6.6% charge every on greater than 1 12 months however as much as 2 years and above 2 Years as much as 3 Years tenure from current 6.50% every.
The financial institution will provide a 6.80% rate of interest on above 3 Years and fewer than 5 Years tenure to retired senior citizen employees from the present 6.55%. A 6.6% can even be given on 5 years and above tenure to the retired aged from the present 6.55%.
Meanwhile, rates of interest on under 1-year tenure have been stored unchanged. The financial institution presents a 4.05% charge from 7 days to 29 days tenure, 4.9% from 30 days to 45 days tenure, 5.05% from 46 days to 90 days tenure, and 5.20% from 91 days to 180 days tenure. A 5.90% charge is obtainable on 181 to 364 days tenure.
Non-retired Staff:
To the non-staff normal citizen, UCO Bank presents a 2.55% to 4.4% rate of interest on tenures ranging from 7 days to 364 days. 5.10% rate of interest is given on 1 12 months to three years tenure, whereas 5.3% is obtainable from above 3 years to five years and above.
Moreover, to non-staff senior residents, the financial institution presents a 2.8% to 4.65% charge on tenures ranging from 7 days to 364 days. 5.35% is obtainable on 1-year tenure, 5.6% is given on greater than 1 12 months to three years, and 5.8% is supplied on greater than 3 years to five years and above.
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