UCO VASANTH BONANZA - Fixed Deposit Scheme

UCO Bank Launched a A limited duration Fixed Deposit Scheme providing benefits of high returns on a fixed deposit period of 100 days. The Scheme would be available from 4th January, 2012 for a limited period and would carry an interest of 9% per annum with special incentive for Senior Citizen/Staff/Ex-Staff, as usual. The minimum amount of deposit under the Scheme would be Rs. 10,000/- and in multiples OF Rs. 1,000/-.

The Scheme offers high returns for ONE HUNDRED DAYS term deposit period with a minimum deposit amount of Rs. 10,000/- and in multiples of Rs. 1,000/- shall be accepted under the Scheme. The rate of interest rate offered is 9.00% p.a.

 

The salient features of the UCO VASANTH BONANZA Scheme are as under:

SL. NO.	PARAMETER	DETAILED PARTICULARS
1.	Name of Scheme	“UCO VASANTH BONANZA” Fixed Deposit Scheme
2.	Duration of Scheme	4th January 2012  for a limited period only
3	Period of Deposit	100 days
4.	Amount of Deposit	Minimum Amount Rs.10, 000/- and in multiples of Rs. 1,000/-.
5.	Rate of Interest	9.00% per annum
5.	Premature Withdrawal	Withdrawals may be allowed prematurely, but in such a case the depositor would not be eligible to receive interest at the special rate. In case of premature withdrawal, the interest would be payable at 1% below the applicable rate under the normal fixed deposits for the period for which the deposit has remained with the Bank as on the date of deposit or present rate, whichever is lower.
7.	Loan/Overdraft against the Deposits	Available
8.	Nomination	Available
9.	Participating Branches	All UCO Bank Branches
10.	Automatic Renewals	No Permitted under this Scheme
11.	Tax Implications	Tax would be deductible at source as per the prevailing Income Tax rules.
12.	Special benefits for Senior Citizen/ Staff / Ex-Staff/Senior Citizen & Ex-Staff	Deposits from these categories of depositors shall be allowed incentive as per the existing norms. Accordingly, the applicable rates for these categories  of depositors would be as under: a)     Senior Citizen        : Additional 0.50% or @ 9.50% b)     Staff                       : Additional 1.00% or @ 10.00% c)    Ex-Staff                  : Additional 1.00% or @ 10.00% d)    Ex-Staff Sr. Citizen : Additional 1.25% or @ 10.25% The overall amount ceiling for Ex-Staff/Ex-Staff Senior Citizen for being eligible for higher rate under the scheme shall be equal to the terminal benefits plus Rs.10 lacs, as usual.