Kalladikod Service Co-operative Bank Presenting, Daily Deposit

Fixed Deposits

Fixed Deposit is a special kind of deposit scheme offered by Kalladikod service co-operative bank, which is a combination of Demand deposit and Fixed Deposits. The depositor is able to enjoy both the liquidity of Savings/Current accounts as well as the high returns of Fixed Deposits. Fixed Deposit for 1 year & above 8 % and 8. 50 % for senior citizens (above 55 years old). Bank Fixed Deposits are also known as Term Deposits. In a Fixed Deposit Account, a certain sum of money is deposited in the bank for a specified time period with a fixed rate of interest. The rate of interest for Bank Fixed Deposits depends on the maturity period. It is higher in case of the longer maturity period. There is great flexibility in maturity period and it ranges from 15days to 5 years. The interest can be compounded quarterly, half-yearly or annually and varies from bank to bank. Minimum deposit amount is Rs 1000/- and there is no upper limit. Loan/overdraft facility is available against bank fixed deposits. Premature withdrawal is permissible but it involves loss of interest. Fixed deposits with the banks are nearly 100% safe as all the banks operating in the country, irrespective of whether they are nationalized, private, or foreign, are governed by the RBI’s rules and regulations, and give due weight to the interest of the investor. Till recently, all bank deposits were insured under the Deposit Insurance & Credit Guarantee Scheme of India


Any person or persons approved by the Bank.Co-operative Societies, Registered Trust, Institutions, and Associations.By two or more persons in their joint names. By a natural guardian. ie. father or mother approved by the bank on behalf of a minor.

Initial Deposit

The initial cash deposit of Rs.100/- which balance should always be maintained in the Recurring Account.