Are you vaccinated? UCO Bank offering higher interest rates on FDs | Personal Finance News

It will be very interesting for you to know that if you have got the first dose of the COVID-19 vaccine, then you are eligible to get higher interest rates on Bank Fixed Deposits (FDs). A few state-owned banks have announced that they are providing higher FD interest rates for those who have been vaccinated against COVID-19.

UCO Bank FD Rate

Kolkata-based UCO Bank has informed its customers that it is giving 30 basis points (bps) higher rate of interest on the bank’s Fixed Deposits. It is only for those who have taken their COVID-19 vaccination. But there is a catch. The tenure for this UCO Bank FD is 999 days.

It basically means that those who took their COVID-19 vaccination dose, then they will receive higher interest rates on the UCO Bank FD for 999 days. Even if someone has taken only the first dose, he/she will be eligible to avail of the higher interest rates on the FD.

A UCO Bank official told PTI that the decision was taken to exhort vaccination drives and it will encourage more people to receive the COVID-19 vaccine, the official said.

The UCO Bank FD is known as UCOVAXI-999 and the offer is limited to September 30.

Central Bank of India FD Rate

Similarly, the Central Bank of India also unveiled a special Immune India Deposit Scheme which basically offers a higher interest rate of 25 basis points. This additional interest rate will be applicable for people who have received the COVID-19 vaccine.

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