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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 @ 3.25%

 

 

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.

 

Interest Rates applicable W.E.F Dt. : 03-04-2023
Days/Years Inclusive
 
Individuals,
Co-op. Societies/ Non /Regd.
Trusts & All other
categories of depositors
15 days to 45 days 3.70 %
46 days to 90 days 4.50 %
91 days to 179 days 4.75 %
180 days to bellow 1 year 6.00 %
1 year to less than 2 year 7.00 %
2 year to 3 year 7.10 %
Saving Deposit-All(With Sp. Savings Deposit 3.25 %

 

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 3 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 3 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 3 year.

 

Fixed Deposite Interest Rates applicable
W.E.F Dt. : 03-04-2023:

   15 days to 45 days : 3.70% | 46 days to 90 days : 4.50% | 91 days to 179 days : 4.75% | 180 days to below 1 year : 6% | 1 year to less than 2 years : 7% | 2 years to 3 years: 7.10%|Saving Deposit-All(With Sp. Savings Deposit : 3.25%