UCO Bank raises 3- to 5-year FCNR(B) deposit rates to 6.00-6.25%
This story was originally published at 12:37 IST on 16 June 2026
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MUMBAI – UCO Bank Ltd. Thursday raised interest rates on dollar-denominated foreign currency non-resident bank deposits by 260-300 basis points to 6.00-6.25% for three- to five-year tenures. The lender reduced interest rates for FCNR (B) deposits for two- to three-year tenure by 25 bps.
Thurday, the bank increased rates by 300 basis points to 6.00% for tenures from three to under four years and by 260 bps to 6.25% for tenures from four to five years. The Reserve Bank of India's dollar-rupee swap facility for fresh deposits allows banks to hedge inflows from FCNR(B) deposits at no cost and is applicable on a minimum tenure of three years and maximum tenure of five years. The central bank has allowed banks to price these deposits as per their internal policy, but within the overall regulatory ceiling.
For the March quarter, UCO Bank had reported a net profit of INR 8.01 billion and a total income of INR 73.65 billion. At 1142 IST, shares were up marginally at INR 26.26 apiece on the National Stock Exchange.
| Tenure | Revised rates | Previous rates |
| One year to less than two years | 5.10% | 5.10% |
| Two year to less than three years | 4.00% | 3.75% |
| Three year to less than four years | 6.00% | 3.00% |
| Four year to less than five years | 6.25% | 3.65% |
| Five years | 6.25% | 3.65% |
End
US$1 = INR 94.63
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Durgesh Nandan
Edited by Deepshikha Bhardwaj
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