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Accounts & Deposits

-:  Accounts  :-

Transaction of banking to any Branch Anywhere in Rajkot District Co-Operative Bank.

Savings Account :-

A Savings Account may be opened by Individuals / Minors / Regd. Co-op. Societies / Regd. Public Trusts / Institutes / H.U.F. etc.

Features :-

  • Open a Savings Bank Account with us and avail CTS Cheque Book facility.
  • Any Branch Banking (ABB).
  • NEFT (National Electronic Fund Transfer)
  • Money transfer services.
  • Remittance.
  • Nomination facility
  • Saving Account Deposit @ 4.00%
  • Current Account :-

    The salient features of the regular current account are as under

    Features :-

  • Current Accounts can be opened by individuals, sole proprietorship concerns, partnership firms, clubs, societies, trusts, or other institutions, upon being introduced in a manner satisfactory to the Bank.
  • Any Branch Banking (ABB).
  • Average Quarterly balance to be maintained in Current Account Rs. 3000/-.
  • Collection of outstation cheques.
  • NEFT/RTGS
  • -:  Deposits  :-

    Simple Term Fixed Deposits [TDR] :-

    Features :-

  • Account can be opened with a minimum of Rs.500/-.
  • Minimum period is 15 days and can be opened for 364 days.(Less then 1 year)
  • Interest is paid along with principal amount on maturity.
  • Loan can be granted up to 85 % of the deposit amount against the pledge of Deposit Receipt.
  • Deposit covered under insurance by RBI guideline.
  • Senior Citizen will get additional 0.50% interest in below given Rate of Interest.
  • Please see below to know about our current Interest Rates for deposit scheme.
  • Days/Years Inclusive

    Individuals,
    Co-op. Societies/ Non /Regd.
    Trusts & All other
    categories of depositors
    15 days to 45 days 5.00 %
    46 days to 90 days 6.50 %
    91 days to 179 days 6.75 %
    180 days to less then 1 year 7.00 %.
    1 year and less then 2 year 7.25 %
    2 year and up to 5 year 7.00 %

    Reinvestment Term Fixed Deposits [DDR] :-

    Features :-

  • Account can be opened with a minimum of Rs. 500/- or any amount.
  • Minimum period is one year.
  • Maximum period is 5 Year.
  • Interest due will be paid on quarterly / half yearly basis.
  • Loan can be granted up to 85% of the deposit amount against the pledge of Deposit Receipt..
  • The depositor desires to have interest payment on quarterly / half yearly basis, he should notify this instruction in the Account Opening Form while opening the account. The Bank will take note of this and pay the interest amount accordingly.
  • In case of premature cancellation of deposits, 1% penalty will be levied as per bank’s rules.
  • Deposit covered under insurance by RBI guideline
  • Recurring Deposit Accounts :-

    Features :-

  • Recurring Deposit is a special type of deposit account which enables a depositor to save by paying into the account an agreed minimum sum of money monthly fixed amount.
  • The Recurring Deposit Scheme is open to individual categories only.
  • A Recurring Deposit account shall be accepted for periods up to the maximum period of 5 years.
  • The minimum core deposit amount should be Rs. 500/-.
  • The Excess amount deposited should be in multiples of Rs.500/- only.
  • The excess amount deposited in a given month will not be utilized for payment of future instalments.
  • Instalments may be remitted by Standing instructions by transferring the amount each month from the current/ savings accounts in the same branch.
  • The Deposit can be placed for a minimum tenure of 12 months to a maximum tenure of 5 year.
  • Fixed Deposite Interest Rates :
       15 days to 45 days : 5% | 46 days to 90 days : 6.50% | 91 days to 179 days : 6.75% | 180 days to below 1 year : 7% | 1 year to 2 years : 7.25% | 2 years to 5 years: 7%
    Tenders | Notifications | Unclaimed Depositers