Abhyudaya Co-operative Bank was established in the year 1965 and it received the status of Scheduled Bank in 1988. It became a Multi-state Co-operative Bank in 2007. Today, it is one of the leading co-operative banks in India with more than 100 branches spread across Maharashtra, Karnataka and Gujarat.
Abhyudaya Co-operative Bank offers attractive interest rates to its customers on Fixed Deposits. The Fixed Deposit scheme offered by the bank is called ‘Fixed Deposit Receipt’. This deposit scheme of the bank helps people in meeting their investment goals easily. When customers apply for this account, they will receive a receipt from the bank, which will display the amount of deposit, period of deposit, maturity amount and date of maturity.
Who can open a fixed deposit account with Abhyudaya Co-operative Bank?
A Fixed Deposit account with Abhyudaya Co-operative Bank can be opened by the following:
The minimum deposit amount for Abhyudaya Co-operative Bank Fixed Deposit is Rs.550.
Yes, Abhyudaya Co-operative Bank offers a higher interest rate to senior citizens.
| Term | Interest Rate for Senior Citizens |
|---|---|
| 7 Days to 90 days | 6% |
| 91 days to 180 days | 7% |
| 181 Days to 15 months | 7.25% |
| More than 15 months to 36 months | 7.5% |
| More than 36 months to 120 months | 7.25% |
If depositors lose their original Fixed Deposit Receipt, then they have to inform Abhyudaya Co-operative Bank immediately. After verifying the information, the bank will issue a duplicate Fixed Deposit Receipt. Depositors are required to pay a certain fee to avail a duplicate receipt.
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