Ahmedabad Mercantile Co-operative Bank FD Rates

Ahmedabad Mercantile Co-operative Bank offers attractive interest rates on fixed deposit schemes for tenure ranging between 15 days and 60 months. The interest rates for the general public range from 3.25% p.a. to 5.60% p.a.

Senior citizens (aged above 60 years to less than 75 years) will be offered an additional interest rate of 0.50% while super senior citizens (aged 75 years and more) will get a 0.50% higher interest rate on deposits. These additional interest rates are applicable on fixed deposits for tenures above 1 year.

Retail Deposit Interest Rates

The interest rates on fixed deposits offered by Ahmedabad Mercantile Co-operative Bank are as follows:

Tenure Interest Rates for Up to Rs.25 lakh Interest Rates for More than Rs.25 lakh to Rs.100 lakh Interest Rates for More than Rs.100 lakh
7 days - 14 days 3.25% 3.25% 3.25%
15 days - 45 days 3.25% 3.25% 3.25%
46 days - 90 days 3.50% 3.25% 3.25%
91 days - 180 days 3.90% 3.75% 3.60%
181 days - 364 days 4.75% 4.50% 4.00%
1 year - 3 years 5.50% 5.00% 4.75%
Above 3 years - 5 years 5.60% 5.25% 4.75%
Above 5 years - 7 years 5.00% 4.75% 4.60%
5 years – Term Deposit (u/s 80C) of IT Act (up to Rs.1.50 lakh) 5.60% NA NA

NRE Deposit Interest Rates

The interest rates for NRE deposits offered by Ahmedabad Mercantile Co-operative Bank are given below:

Tenure Interest Rates for Up to Rs.25 lakh Interest Rates for More than Rs.25 lakh to Rs.100 lakh Interest Rates for More than Rs.100 lakh
1 year to 3 years 5.50% 5.00% 4.75%

Co-operative Bank Deposit Interest Rates

The interest rates for co-operative bank deposits are mentioned in the table below:

Tenure Interest Rates for Up to Rs.25 lakh Interest Rates for More than Rs.25 lakh to Rs.100 lakh Interest Rates for More than Rs.100 lakh
1 year to 3 years 4.00% 4.00% 4.00%

Features and Benefits of Ahmedabad Mercantile Co-operative Bank Fixed Deposits

The features and benefits of fixed deposits offered by Ahmedabad Mercantile Co-operative Bank are as follows:

  • Interest is paid on a quarterly, half-yearly, and yearly basis.
  • Additional interest rate for senior and super senior citizens.
  • Minors can open a fixed deposit through a guardian.
  • The minimum deposit amount is Rs.1,000.
  • A nomination facility is available.
  • Loans and overdraft facilities against fixed deposits can be availed.
  • A premature withdrawal facility is available. In case of such withdrawals, a penalty of 1% will be levied.

Documents Required to Open Ahmedabad Mercantile Co-operative Bank Fixed Deposit

The following documents are required to open a fixed deposit with Ahmedabad Mercantile Co-operative Bank:

  • Proof of Identity (Any One): Aadhaar Card, Driving Licence, Voter ID, Passport, ID Card Approved by Government College or University, Government/Semi government/Department ID Card
  • Proof of Address (Any One): Municipal Tax Bill, Electricity Bill or BSNL Landline Telephone Bill which is not more than 2 months old
  • PAN Card
  • Birth Certificate in case of minors
  • Passport Size Photographs
  • Age proof must be produced by senior citizens to receive the additional interest rate

FAQs on Ahmedabad Mercantile Co-operative Bank FD Rates

  1. What is the interest rate on fixed deposits offered by Ahmedabad Mercantile Co-operative Bank?

    The interest rates on fixed deposits offered by Ahmedabad Mercantile Co-operative Bank range from 3.25% p.a. to 5.60% p.a.

  2. Do senior citizens get any additional interest rates?

    Yes. Senior citizens get an additional interest rate of 0.50% on fixed deposits for tenure above 1 year.

  3. What is the minimum deposit amount for a fixed deposit?

    The minimum deposit amount is Rs.1,000.

  4. Is a nomination facility available?

    Yes. The facility of nomination is available.

  5. Can I avail of a loan against my fixed deposit?

    Yes. Loans against fixed deposits can be availed.

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