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    Co-operative Bank Fixed Deposits

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 20 Years
    5.25% - 8.75% Quarterly compounding
    Response Time Within 30 minutes
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.6% Quarterly compounding
    Response Time Within 30 minutes
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 7% Monthly compounding
    Response Time Within 30 minutes
    Up to ₹1Cr
    15 Days to 20 Years
    4.25% - 7.65% Monthly compounding
    Response Time Within 30 minutes
    Up to ₹1Cr
    7 Days to 10 Years
    5.5% - 7.45% Monthly compounding
    Response Time Within 30 minutes
    Up to ₹1Cr
    7 Days to 10 Years
    4% to 8% Monthly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    6.2% - 7% Monthly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7.15% Monthly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6.5% - 6.95% Monthly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year onwards
    7% - 7.5% Monthly compounding
    Response Time Within 30 minutes
    Up to ₹1Cr
    7 Days to 10 Years
    4% - 7.6% Quarterly compounding
    Response Time Within 30 minutes
    NRI - FD
    Up to ₹1Cr
    1 Year to 5 Years
    7% - 7.1% Quarterly compounding
    Response Time Within 30 minutes
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    Fixed Deposit BYTES FROM OUR KITCHEN

    Co-operative Bank Fixed Deposits

    There are a number of co-operative banks that offer banking services and products to the rural and urban financially marginalised communities. Apart from the regular products and services, these banks also offer fixed deposits, at attractive rates of interests, to people in rural areas across the country.

    Co-Operative Banks Online Fixed Deposits

    With the help of technology co-operative banks have also started the service of online fixed deposits. This service has been introduced to cater to a larger customer base, introducing them to new technologies and products. In order to open an online fixed deposit account, the customer can the website of the desired co-operative bank. Complete details also with the application procedure are provided on the bank’s portal, regarding the fixed deposit. Application forms can be downloaded, easing out the entire application process, saving time and effort.

    Benefits of Fixed Deposit with Co-Operative Banks

    Co-operative Banks offer a number of benefits as compared to other banks when it comes to Fixed Deposits. Some of these advantages are mentioned below.

    • Simple eligibility criteria – Co-operative banks do not have an exhaustive list of eligibility criteria, ensuring that almost everyone can open and maintain a fixed deposit account.
    • Hassle-free application – The entire application process is simple and hassle free with minimal paperwork, keeping the interest of customers in mind.
    • Attractive rates of interest – Co-operative banks offer attractive interest rates on their fixed deposits.
    • Loans – Most co-operative banks offer loans to customers in lieu of their fixed deposits.
    • Additional services – One can use services like internet banking to simplify their banking experience.

    Best Fixed Deposits by Co-operative Banks

    Interest rates for best fixed deposits by Co-operative Banks

    Given below are the interest rates of some of the best Co-operative Banks Fixed Deposit schemes

    Bank Interest rate
    Bassein Catholic Co-operative Bank 9.25% per annum
    Sharad Sahakari Bank Limited 6.50% per annum
    Shamrao Vithal Co-operative Bank 8.50% per annum
    Associative Co-operative Bank 4% to 11% per annum
    Malappuram District Co-operative Bank 6.25% to 9% per annum
    New India Co-operative Bank Limited 5% to 10% per annum
    Amanath Co-operative Bank 6.25% to 9.25% per annum
    Janata Sahakari Bank Limited 6.25% to 9.75% per annum

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

    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

    Co-operative Banks Fixed Deposits FAQs

    1. Does every co-operative bank offer the same rate of interest?

    No. The interest rates may vary from bank to bank. Age and profession of an individual are determining factors for banks to calculate the rate of interest. Some banks may offer a higher interest rate for senior citizens, teachers, or armed forces personnel.

    1. What is the range of tenure of the FD account?

    Different banks have different tenures on the FD accounts they offer. However, in general a minimum of 46 days to a maximum of 84 months can be opted as tenure.

    1. Are the rules of the RBI applicable to cooperative banks?

    Yes. The Banking Regulation Act of 1949 of the RBI governs cooperative banks as well.

    1. What are the features of FDs offered by cooperative banks?

    Some of the features of cooperative banks fixed deposit are flexible tenure, user-friendly interest payment mode, and cumulation of interest.

    1. What is the multiple in which an FD in a cooperative bank can be opened?

    The minimum deposit depends on the customer’s requirements. However, the fixed deposit can be opened in multiples of Rs 100.

    Updated on 15 July 2016

    News About Co-operative Bank Fixed Deposit

    • Deposits in Co-operative Bank post the Rate Cut

      The recent rate cuts imposed by the Reserve Bank of India has forced banks to cut down on the savings and fixed deposit rates that they were offering. Most banks now have a maximum rate of 9% for providing interest on fixed deposits while co-operative banks provide near about 1-2% increase in the same rates for fixed deposits.

      While a lump sum deposit in one of the co-operative accounts might sound to be very lucrative and irresistible, it is advised not to be too trusting on such banks. Their operations are not clearly defined and they mostly have no regulations followed as according to RBI. Failures of such banks and penalties being issued on them are not unheard of. One’s investment could face serious risk in such scenarios.

      6th April 2016

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