UCO Sowbhagya Recurring Deposit Scheme offers you the facility to relish on alll the facilities that is provided by a normal recurring deposit along with the compensation of flexible monthly installments for a higher yield on you deposit at the time of maturity.
Features
| Benefits | Senior Citizen/ Staff/Ex-staff working in UCO Bank gets to enjoy an additional rate of interest over and above the applicable ROI relevant to the bank's terms and conditions. |
| Eligibility | · Individual in his or her name (sole or joint) · Minors (on behalf of their guardian/parents) · Clubs · Societies · Associations · Educational Institutions · Trusts · Firms · Partnership provided they are registered and joint firms. |
| Age of the Account holder | · This account could be opened by resident Indian above 18 years of age. · In the name of the minor above 10 years of age who can read and write under the terms and conditions of the bank. |
| Minimum Amount | The minimum amount to be deposited is Rs 100 in a single month and thereafter in multiples of rs 100. |
| Maximum Amount | The maximum amount of deposit is Rs 1 lac per month. |
| Tenure | The minimum period of deposit is 12 months and the maximum deposit period is 60 months. |
| Rate of Interest | Rate of Interest is applicable as same the Term Deposit. |
| Loans | Loans are allowed to subject to a maximum of 90% of this particular scheme (RDUSS) amount deposited and the interest charged by the bank will be 2% above the deposit rate. |