Welcome to The Saurashtra Co-Operative Bank Ltd. |
“આપણી બેંક સૌરાષ્ટ્ર બેંક”

Fixed Deposit

Fixed Deposits are our very important product. We provide very attractive returns on fixed deposits along with very high amount of safety to the capital invested. Rates on the Fixed Deposits are given below.

A fixed deposit account may be opened by any Personal/Individual/Minor/HUF/Firm/Company/Club/Trust/Society/Association etc.

  • We are member of Deposit Insurance and Credit Guarantee Scheme in which customers deposit is insured up to Rs. 1 Lac.
  • We provide attractive Interest Rates to our Customers from time to time.
  • Guardian can open Minor’s Fix deposit A/c. When minor turn major then at maturity he/she can withdraw the amount with his/her signature, after providing valid age proof.
  • We offer nomination facility for all deposit accounts.
  • We provide Monthly and Quarterly Interest payment to our customers on their existing Fix Deposits as per their instruction.
  • Loan and Overdraft facility is available against Fix deposit receipt to pass 80%.
  • The maturity date of Loan and Overdraft Account against Fix Deposit is maturity date of Fix Deposit Receipt.
  • TDS on Interest income will be deducted as per Income Tax Act.
  • We offer 0.50% extra Interest Rate to Senior Citizens (Age 60 years or above) on fix deposits.

Rules & Regulations of Fixed Deposit Scheme :

  • Depositor has to fulfill KYC norms as per RBI directives.
  • Customer can Open Fix Deposit A/c with minimum of Rs.1000/-
  • Guardian can open Minor’s Fix Deposit A/c. When minor turn major then after providing valid age proof he/she can withdraw the amount with his/her own signature.
  • The maturity amount is payable on maturity date. If depositor do not renew or withdraw the deposit then extra interest will not be payable for delayed days.
  • All rights reserved to the Bank’s management to Change the Interest Rate of the Fix Deposit Scheme without prior notice. Change of Interest rate will be applicable to new deposits only.
  • The Bank having all rights of appropriation, set off, lien and change the rules and regulation for the scheme.

Requirements to Open Bank Account :

Valid Photo I.D. & Address Proof

A. Any one of proof (Photo I.D. Proof)
  • Passport
  • Driving License ,
  • PAN Card,Voter ID Card, Aadhar Card,
  • Government Approved College/university I. Card
  • Government/Semi government/Department I. Card.
B. Address Proof.
  • Ration Card
  • Electricity Bill (Not more than 2 months old),
  • Telephone Bill (Not more than 2 months old),
  • Municipal Tax Bill,
  • Aadhar Card,
  • Driving Licence

Passport Size Photographs – 2 copies
Pan Card with forwarding letter/Declaration on form 60/61.
Senior Citizens have to produce age proof to avail extra Interest Rate benefit.

Rate of Interest as From 25-01-2018

Sr. No. Period Of Deposit General Rate Senior Citizen Rate Super Senior Citizen Rate
1 15 Day to 45 Day 5.00% - -
2 46 Day to 90 Day 6.00% - -
3 91 Day to 180 Day 6.50% - -
4 181 Day to 364 Day 7.50% - -
5 12 Month to 24 Month 8.00% 8.50% 9.00%
7 Recurring 12 Month to 36 Month 9.00% - -

Extra Interest will be paid to Senior Citizens for one year and above @ 0.50% And Super Senior Citizen @1.00%.
Extra Interest 0.50% will be paid to any party for deposit of Rs.50 lac and above.