New India Co-Operative Bank offers its customers a fixed deposit scheme with a minimum deposit amount of Rs.1,000. The tenure for this scheme ranges from 15 days to 10 years. The bank also offers auto-renewal facility and nomination facilities to its fixed deposit customers.
New India Co-Operative Bank Features
The various features of New India Co-Operative Bank Fixed Deposit Schemes are mentioned below:
| Account type | Single or jointly |
| Deposit | Minimum: Rs.1,000 |
| Tenure |
Minimum: 15 days Maximum: 10 years |
| Nomination facility | Available |
| Auto-renewal facility | Available |
| Loan facility | Available |
New India Co-Operative Bank Fixed Deposit Scheme Interest Rates
The interest rates for New India Co-Operative Bank Fixed Deposit Scheme for deposits below Rs.25 lakh are given below:
| Tenure | Normal Interest Rate (p.a.) |
|---|---|
| 15 days – 45 days | 3.75% |
| 46 days – 3 months | 4.00% |
| 3 months 1 day – 6 months | 4.50% |
| 6 months 1 day – 9 months | 5.00% |
| 9 months 1 day – less than a year | 5.75% |
| 1 year – 2 years | 6.25% |
| 2 years and above – 3 years | 6.75% |
| 3 years and above – 5 years | 7.00% |
| 5 years and above – 10 years | 7.25% |
Note: These interest rates are applicable since 27 September 2021 and can be changed as per the Bank’s rules and regulations.
New India Co-Operative Bank Fixed Deposit Scheme Eligibility Criteria
The eligibility criteria for New India Co-Operative Bank Deposit Scheme are:
- Indian residents over the age of 18
Documents Required for New India Co-Operative Bank Fixed Deposit Scheme
The documents that are required to open an account under the New India Co-Operative Bank Fixed Deposit Scheme are:
- Photo identity proof
- Address proof
FAQs on New India Co-Operative Bank FD Rates
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Does New India Co-Operative Bank Fixed Deposit Scheme offer any special interest rates to senior citizens?
No, New India Co-Operative Bank Fixed Deposit Scheme does not offer any special interest rates to senior citizens.
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What is the maximum interest rate offered by New India Co-Operative Bank Fixed Deposit Scheme?
The maximum interest rate offered by New India Co-Operative Bank Fixed Deposit Scheme is 7.25%.
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What is the minimum deposit amount required to open an account under the New India Co-Operative Bank Fixed Deposit Scheme?
The minimum deposit amount required to open an account under the New India Co-Operative Bank Fixed Deposit Scheme is Rs.1,000.
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What is the minimum tenure to open an account under the New India Co-Operative Bank Fixed Deposit Scheme?
The minimum tenure to open an account under the New India Co-Operative Bank Fixed Deposit Scheme is 15 days.
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Is loan facility available under the New India Co-Operative Bank Fixed Deposit Scheme?
Yes, loan facility is available under the New India Co-Operative Bank Fixed Deposit Scheme.
