• Co-operative Bank Fixed Deposits

    There are several co-operative banks that offer competitive interest rates on fixed deposits (FDs). The interest rate from different banks range from 6.80% p.a. to 8.50% p.a. In fact, when compared to other types of banks, co-operative banks, offer a much better rate of interest, in some cases. It is a wise option to invest a certain pool of savings into these types of fixed deposits than conventional term deposits. Co-operative banks offer a wide range of financial services and products, including fixed deposits.

    Best Fixed Deposits by Co-operative Banks

    Co-operative banks are offering some of the highest interest rates on fixed deposits. Given below is a consolidated table of some of the best interest rates offered by these banks:

    Co-operative Bank FD Interest Rates 2019
    Bank Regular Interest Rates (per annum) Senior Citizen Interest Rates (per annum) Tenure
    Mahaveer Bank 8.50% 9.00% More than 2 years to 5 years
    Mahaveer Bank 8.25% 8.75% More than 5 years
    Repco Bank 7.70% 8.20% 1 year and more than 2 years
    Andaman & Nicobar State Co-operative Bank 8.00% 8.50% 8 years to 10 years
    Andhra Pradesh State Co-operative Bank 7.55% 8.15%% 1 Year
    Bombay Mercantile Co-operative Bank Limited 6.80% 7.30% More than 2 years to 5 years
    Bharat Co-operative Bank 8.00% 8.50% 1 year to 2 years
    Saraswat Bank 7.60% 7.85% 15 months only
    Janata Sahakari Bank 7.00% 7.25% More than 3 years

    *Banks tend to revise interest rates from time to time

    FD rate highlights

    • At present, Mahaveer Bank pays the highest rate of interest, which is 8.50% p.a. for greater than 2 years to 5 years
    • Senior citizens can expect a lucrative bank rate of 9.00% p.a. for greater than 2 years to 5 years from Mahaveer Bank
    • Andaman & Nicobar State Co-operative Bank also offers a good rate of return at 8.00% p.a. and 8.50% p.a. for senior citizens
    • Bharat Co-operative Bank deposits offer customers 8.00% p.a. and an interest rate of 8.50% p.a. for senior citizens

    Online Fixed Deposits From Co-Operative Banks

    With all other banks offering internet banking and online services, co-operative banks have also stepped up their game and have begun to offer such services. Fixed deposits from co-operative banks can be easily purchased online without any hassle in a matter of minutes. Most fixed deposits from such banks can be purchased with minimal documentation, and by providing basic personal details.

    Let us take a look at the procedure to open a co-operative bank fixed deposit account:

    • Step 1: Log on the website of the respective co-operative bank
    • Step 2: Click on the fixed deposit option and choose the term deposit plan
    • Step 3: Click on the ‘Buy Now or Purchase’ option
    • Step 4: Fill in basic details by downloading the fixed deposit application form
    • Step 5: Proceed and make payment online

    Note: The process may slightly vary from bank to bank.

    Advantages of co-operative bank FDs

    • These banks tend to offer a higher rate of interest on fixed deposits when compared to other types of banks. This provides investors a good option to earn more interest in a short span of time
    • Most co-operative banks do not have stringent eligibility criteria rules and hence it is easy to apply for a fixed deposit account in these banks
    • The easy application procedure and the ease of opening a fixed deposit account online makes these types of banks a good choice
    • Co-operative banks are built with the aim to serve the public. The main objective of co-operative banks is to create financial inclusion and serve.

    List of Co-operative Banks in Metros

    • New India Co-operative Bank Limited – Mumbai, Pune
    • The National Co-operative Bank Limited – Mumbai, Bangalore
    • Punjab and Maharashtra Co-operative Bank Limited – Mumbai
    • Noble Co-operative Bank Limited – Noida
    • Sir M Visvesvaraya Co-operative Bank Limited – Bangalore
    • West Bengal State Cooperative Bank Limited – Kolkata
    • The Delhi State Cooperative Bank Limited – Delhi
    • Mahaveer Co-operative Bank – Hyderabad
    • Peoples Urban Co-operative Bank Limited – Kochi
    • Gujarat State Co-operative Bank Limited – Ahmedabad

    FAQs on Co-operative Bank Fixed Deposit

    1. What is a co-operative bank?

    A co-operative bank is formed by a community or group on a cooperative basis. Their main aim is to serve the weaker sections of society and provide access to banking for all.

    2. Do they provide same interest rates?

    No. The interest rate provided by each co-operative bank varies and therefore it is not the same.

    3. What are the tenure options for FDs in co-operative banks?

    Different banks offer different tenure options. The maximum tenure at most banks is usually 10 years.

    4. Who governs these banks?

    The RBI issues guidelines for these banks. The banks are governed by the Banking Regulation Act.

    *The above-mentioned rates are subject to change without prior notice. The customer should contact the respective bank for updated rates.

    Perfect Fixed Deposits Deals for you

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    Co-operative Bank Fixed Deposits Reviews

    • Oriental Bank of Commerce Fixed Deposit
      "Good Scheme"
      0.5 5.0/5 "Blown Away!"
      Since last 15 years, i have a account with Oriental bank of commerce thats the reason i have invested the money in fixed deposit with the same bank. I have invested the amount of Rs. 11 lakhs. They are giving the interest rate of 6.5%. There is no locking period but i have chosen the duration of 1.5 years. There is no additional charges deducted for this fixed deposit.
      Was this review helpful? 2
      , bulandshahr
      Reviewed on Dec 03, 2019
    • Post Office
      Post Office Fixed Deposit
      "Good Service"
      0.5 4.0/5 "Great!"
      Interest rate is very low in Indian post office Fixed deposit scheme because they are providing only 8.5%. I have chosen this office because of the child benefits. I have invested the money of Rs. 1.5 years. Its 3 years lock in period. Overall, I'm satisfied with the service provided by post office employees.
      Was this review helpful? 7
      , parvathipuram
      Reviewed on Dec 03, 2019
    • SBI Fixed Deposit
      "Good bank for Fixed Deposit"
      0.5 4.0/5 "Great!"
      I have invested the money in SBI for a fixed deposit and based on my wife recommendation i have chosen it. They are providing the interest rate of 7.25%. They have option to select the lock in period in that i have chosen 5 years. We had visited their branch and the response was good.
      Was this review helpful? 12
      , mumbai
      Reviewed on Nov 12, 2019
    • HDFC Bank Fixed Deposit
      "Good one"
      0.5 4.0/5 "Great!"
      Its easy accessible and to redeem so that i have invested the money in Fixed Deposit with HDFC BANK. I have invested the money of Rs. 2.5 lakhs and they have provided me a interest rate of 7.5%. There is no locking period. I didn't got any additional charges till now.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Nov 12, 2019
    • Post Office Fixed Deposit
      "Safety deposit"
      0.5 5.0/5 "Blown Away!"
      I have paid the money of Rs. 4.5 lakhs as a fixed deposit in the Indian post office. For the safety purpose, i have chosen the post office account. They are offering me a interest rate of 7.9%. There is a lockin period of 5 years. If i withdraw the money in 1 year, they will reduce the interest rate of 2% and after 3 years, its 1%.
      Was this review helpful? 29
      , jaipur
      Reviewed on Nov 08, 2019
    • Central Bank of India Fixed Deposit
      "Good Bank"
      0.5 4.0/5 "Great!"
      Interest rates are less in Central Bank of India so I had taken a fixed deposit. I have invested the money of Rs. 1 lakh in my wife's name. Branch is near from my place so I have chosen this bank. Yearly once, I get the money of Rs. 6,765 for the interest. There is a locking period of 1 year.
      Was this review helpful? 2
      , tirupur
      Reviewed on Nov 06, 2019
    • ICICI Bank Fixed Deposit
      "Customer centrice & User friendly app"
      0.5 4.0/5 "Great!"
      I am doing Fixed Deposit with ICICI BANK and its been around 5years. They haven't been paying good interest and its more or less same like other banks as I used to hold my salary account with ICICI, I have decided to be with one bank. There is no locking period and its flexible. They do give good support and the app is user friendly. Even deposit account can be opened through i-mobile or net banking itself.
      Was this review helpful? 6
      , nasik
      Reviewed on Oct 15, 2019
    • SBI Fixed Deposit
      "Good"
      0.5 3.0/5 "Satisfactory"
      I had a Fixed Deposit in State Bank of India, I have completed the tenure before 3months ago. I have no issues with the customer service. They are given me 7% interest rate for 2years. There is no profit and processing fee. I got an online access, where I can check the interest rate anytime on the YONO app or else SBI online.
      Was this review helpful? 10
      , tirupati
      Reviewed on Oct 15, 2019
    • SBI Fixed Deposit
      "Interest charges are good. "
      0.5 3.0/5 "Satisfactory"
      I have invested some money through FD. My salary account is in SBI so i have a zero ATM charges and the limit is not actually set by SBI. They do have short term FDs which is pretty good. I have invested the money of Rs. 60000 and the interest rate is 10.01% for the tenure period of 16 months. There is no lockin period. There is no hassle to getting the money back.
      Was this review helpful? 17
      , kolkata
      Reviewed on Oct 01, 2019
    • Dena Bank Fixed Deposit
      "Good plan for senior citizen"
      0.5 2.0/5 "Expected more"
      I have invested the money in Dena bank through Fixed deposit and the growth is not that much good. They are not taking any hidden charges. Only because of the Government undertaken bank, i have selected them. They are providing a interest rate of 6% per annum. I have invested the money of Rs. 2 lakhs. There is a lockin period of 1 year.
      Was this review helpful? 6
      , new delhi
      Reviewed on Sep 24, 2019
    • Axis Bank Fixed Deposit
      "Interest should be increased for FD"
      0.5 3.0/5 "Satisfactory"
      I have opt for fixed deposit for the tax saving purpose because I have chosen five years tenure with AXIS Bank, still its going on. Only once I Invested my money it has the locking period of five years. I have option to check my transactions through mobile app. But I have concern about the interest rate is very lesser for this FD.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Sep 19, 2019
    • SBI Fixed Deposit
      "FD process should be simpler"
      0.5 1.0/5 "Really Bad"
      I had fixed deposit with SBI then I withdrawn the amount, I done Rs. 3 lakhs of investment on my daughter name then I taken the liquidity to purchase the land, at the time I struggled a lot to take that money because the process was difficult to withdrawn the money after seven months of tenure.
      Was this review helpful? 23
      , madurai
      Reviewed on Sep 03, 2019
    • Union Bank of India Fixed Deposit
      "Not good"
      0.5 3.0/5 "Satisfactory"
      I had a Fixed Deposit with Union Bank of India and its closed 18 to 19 months due to personal reasons. I am doing investment but my experience is not good with FD account. In my home town, there is no other banks so just decided to go with this bank. The returns are good.
      Was this review helpful? 9
      , bangalore
      Reviewed on Aug 28, 2019
    • HDFC Bank Fixed Deposit
      "Good to go with HDFC"
      0.5 5.0/5 "Blown Away!"
      I have one FD with HDFC, I deposited Rs. 1 lakh, I was opt for 45 days of tenure. Finally I got 6.25% of interest for 45 days. It won't cover the tax, if we need tax benefits we should go for five years term. I can track the details through netbanking, on the maturity date the amount credits automatically in the account. Even the notification can customized.
      Was this review helpful? 18
      , bangalore
      Reviewed on Aug 27, 2019
    • HSBC Bank Fixed Deposit
      "wrong calculation of interest rates"
      0.5 0.5/5 "Unacceptable"
      HSBC staff wrongly pre closed my fixed deposit .. and calculated the interest rates wrongly and when asked them for clarification never got back .. even after following up with them repeatedly for more than 3 months.. would highly recommend not using their services.
      Was this review helpful? 5
      , visakhapatnam
      Reviewed on Aug 24, 2019
    • SBI Fixed Deposit
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I do have a Fixed deposit account with SBI and it was carried out by Mom and even I have account for my daughter. Its still running and they have Google application separately to access online. The returns are good. I am doing monthly investment and it was opened quite a long may be 4 years.
      Was this review helpful? 17
      , ahmedabad
      Reviewed on Aug 23, 2019
    • ICICI Bank Fixed Deposit
      "Good"
      0.5 5.0/5 "Blown Away!"
      I just opened a Fixed Deposit with ICICI BANK and have not done any survey on this. I am account holder with them so it was easy to do FD account even they are providing 7% interest rate. The process is very user friendly and never faced any hassle. I could access this account via online.
      Was this review helpful? 10
      , new delhi
      Reviewed on Aug 21, 2019
    • Post Office Fixed Deposit
      "Good for future"
      0.5 3.0/5 "Satisfactory"
      In post office rate of interest is higher for the fixed deposit when compared to the bank, I invested Rs. 5000 on monthly basis its comes in a year Rs. 60,000 after 5 years I got Rs. 3.75,000 I got Rs. 75,000 extra. The service is not comfortable if we have any relative who working there it would supportive or else difficult.
      Was this review helpful? 46
      , burdwan
      Reviewed on Aug 09, 2019
    • SBI Fixed Deposit
      "Good for future saving"
      0.5 5.0/5 "Blown Away!"
      I have FD with SBI, I have opt for one year term there is no such limitation for depositing the money. The interest rate is good for the FD, the online banking is convenient to take liquidity. They resolve the queries on time. Its most safe and secured.
      Was this review helpful? 11
      , visakhapatnam
      Reviewed on Aug 08, 2019
    • SBI Fixed Deposit
      "Average"
      0.5 4.0/5 "Great!"
      I have selected state bnak of indis fixed deposit amount 1 lakhs , Tenure 5 years and Rate of interest 8 percentage after renewal fixed deposit 6 percentage is very less .while document directly bank . Customer service is not good and responsive.
      Was this review helpful? 13
      , kochi
      Reviewed on Aug 05, 2019
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