Banks offering higher interest rates on FDs to encourage Covid vaccination ...Middle East

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Banks offering higher interest rates on FDs to encourage Covid vaccination
In a bid to encourage more COVID-19 vaccination, some state-owned lenders have announced higher interest rates on deposits, but for a limited period. City-based UCO Bank said it is offering 30 basis points or 0.30 per cent higher rate on fixed deposits of 999 days for applicants who have received at least one dose of a Covid vaccine. "We are also taking minor steps to encourage vaccination drives. We are offering UCOVAXI-999... for a limited period till September 30," a bank official said. Central Bank of India had also recently launched the Immune India Deposit Scheme with an additional interest rate of 25 basis points above the applicable card rate for those who have been vaccinat

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