Nagarik Sahakari Bank Ltd., Bhiwandi, offers a Fixed Deposit (FD) scheme, which is a popular savings option for individuals who want to invest a lump sum amount for a fixed period at a guaranteed interest rate. The bank provides competitive interest rates and flexible tenures.
Key Features and Benefits
► Guaranteed Returns: FDs provide safe and secure investment options with fixed interest rates.
► Flexible Tenures: The bank offers a range of deposit periods to choose from, ranging from a few days up to several years.
► Loan Facility: You can secure a loan against your FD without needing to break it, allowing the deposit to continue earning interest.
► Nomination: The nomination facility is available for all FD accounts.
► Deposit Insurance: Deposits with the bank are insured up to ₹ 5,00,000/- through the Deposit Insurance and Credit Guarantee Corporation (DICGC).
Interest Rates
The interest rates offered by the bank vary based on the deposit amount and tenure. The following rates were effective as of February 1, 2023:
| Period | General Public (p.a.) | Senior Citizen (p.a.) |
|---|---|---|
| 1 Year to Less than 2 Year | 5.60% | 6.10% |
| 2 Year to Less than 3 Year | 5.80% | 6.20% |
| 3 Year to Less than 5 Year | 5.90% | 6.40% |
| 5 Year To more than 5 Year | 6.00% | 6.60% |
Note: Interest rates are subject to change. For the most current rates, please contact the bank directly.
Premature Withdrawal
If you need to withdraw your fixed deposit before maturity, a penalty is generally applicable. The penalty is typically 1% less than the interest rate applicable for the period the deposit remained with the bank.
Documents Required to Open an FD Account
To open a Fixed Deposit account at a branch, you will need the following documents:
