UCO Bank Savings Account Interest Rate: If you are looking for a bank that gives you a good interest rate with safe savings, then UCO Bank’s savings account can be a great option for you. UCO Bank, which is one of the oldest and most trusted banks in India, offers a variety of savings accounts to its customers with attractive interest rates.
There is something unique for everyone at UCO Bank, regardless of your status as a senior citizen, pensioner, employee, or student. We will go into great detail about UCO Bank’s interest rates, benefits, and account opening procedure in this post.
What is a UCO Bank Savings Account?
The savings account offered by UCO Bank is a simple way to protect your funds while earning interest. You can make cash withdrawals, fund transfers, and bill payments with this account. Additionally, you receive interest on your deposit, which contributes to the growth of your savings. To meet various needs, UCO Bank provides a range of savings accounts, including the UCO Saral Savings Deposit Scheme, UCO No-Frills Savings Account, and UCO Smart Kids Savings Scheme. These accounts’ features and interest rates assist you in selecting the best option for your financial requirements.
UCO Bank Savings Account Interest Rate
Depending on the size of your deposit, UCO Bank’s savings accounts offer competitive interest rates. As of March 2025, deposits up to Rs 10 lakh are eligible for an interest rate of 2.60 per cent annually, while deposits over Rs 10 lakh are eligible for an interest rate of 2.75 per cent annually. Every quarter, this interest is credited to your account after being calculated daily.
Senior citizens do not get paid extra interest on regular savings accounts. However, they do receive special interest rates on the bank’s other programs, like fixed deposits. Before recharging, check the official website for the most recent information, as these interest rates are subject to change based on the bank’s policies.
Advantages of UCO Bank Savings Account
The savings account offered by UCO Bank differs from those offered by other banks in that it offers numerous unique advantages. The main benefit is that it’s a simple savings account with no minimum balance requirements. For people who wish to save a little money, this is fantastic. The bank also provides free debit cards, 20 free check leaves annually, net banking, and mobile banking. You can access and manage your account from any location at any time.
Children over ten years old can open an account in their name and develop a saving habit through the UCO Smart Kids Savings Scheme. Additionally, the UCO Veer Shakti Savings Account provides special advantages for military personnel, like the elimination of domestic processing fees.
Compared to other banks
Compared to other government banks like SBI or PNB, UCO Bank offers competitive interest rates. For instance, SBI offers interest rates between 2.70 and 3.00 per cent, whereas UCO Bank offers rates between 2.60 and 2.75 per cent. But for people looking for a more affordable and practical choice, UCO Bank is a better choice because of its straightforward account and low minimum balance requirement. Additionally, UCO Bank is a component of Modern Banking thanks to its digital banking services, which include net banking and mobile apps.
Caution and advice
There are a few things to keep in mind before opening an account at UCO Bank. Always check the bank’s official website, www.ucobank.com, to avoid any fake platforms. If you are opening an online account, make sure your documents are up-to-date. Understand the minimum balance requirement and the penalty associated with it so that there is no problem later. If you are opting for special accounts like Smart Kids Scheme or Veer Shakti Account, read their terms and conditions carefully.
Conclusion:
In addition to protecting your funds, UCO Bank’s savings account offers a number of benefits, including competitive interest rates. UCO Bank offers an account for every need, whether you want to save a little money or make plans for your kids’ future.
Disclaimer: This article is for general information. UCO Bank’s interest rates, facilities and conditions may change from time to time. Before opening an account, check the latest information on the official website of UCO Bank, www.ucobank.com. The bank can make changes according to its policy.
