Kalupur Cooperative Bank Fixed Deposit Rates

The bank also extends Fixed Deposit options to its NRE and NRO depositors. Their array of Fixed Deposit Schemes includes the Kal Flexi Deposit Scheme, Kamdhenu Deposit Scheme, Kal Double Deposit Scheme, and Kal Short Term Deposit Scheme. 

Features & Benefits 

1. Premature Renewal of Term Deposit: If a depositor wants to renew their term deposit prematurely by closing the existing account, the bank allows renewal at the current interest rate on the renewal date. This is granted under the condition that the renewed deposit has a longer term than the remaining period of the original deposit. 
2. Interest Calculation: When closing a deposit prematurely for renewal, the interest accrued during the time the bank held it will be paid at the interest rate applicable on the date of the deposit for that specific duration, not at the originally contracted rate. No prepayment penalty will be imposed in such cases. 
3. Senior Citizen Benefits: Individuals aged 60 or older (Senior Citizens) will still enjoy a 0.50% p.a. higher interest rate on their deposits. However, this additional interest rate benefit won't apply to deposits placed under specific sections of the Income Tax Act, NRE-NRO accounts, Kal Flexi, Diamond Kal Flexi, Non-callable Deposits, Kal Double Deposit, or Kal Short Term Deposit. 
4. Super Senior Citizen Benefits: Super Senior Citizens, those aged 75 or older, will continue to receive an additional 0.25% p.a. interest rate benefit, totalling a 0.75% p.a. higher interest rate on their deposits. Similar to Senior Citizens, this benefit does not apply to certain types of deposits mentioned earlier. 
5. Maturity Period Requirement: Senior Citizens and Super Senior Citizens won't receive the additional interest rate benefit on deposits with a maturity period of less than one year. To avail of these benefits, they must place their deposits for a duration of one year or more. 

1. Staff Member Benefits: Staff members will still receive an additional 1% p.a. interest on their Term Deposits. If a staff member is also a Senior Citizen, they will receive an extra interest benefit of 0.50% p.a. Super Senior staff members will receive a further interest benefit of 0.25% p.a. This is contingent upon the concerned staff member having submitted a declaration confirming that the deposited funds belong to them personally.