A fixed deposit is a financial instrument offered by banks and NBFCs, where individuals can park their money and earn interest on it. The rate of interest on FDs is higher when compared to savings accounts. The account-holder will receive the originally deposited amount along with the interest on the agreed-upon maturity date.
TJSB Sahakari Bank offers various term deposit schemes for different durations. Individuals can open these accounts with an investment of Rs. 1,000. TJSB Sahakari Bank Ltd. is one of the top multi-state scheduled co-operative banks in India. It has set up 136 branches across Maharashtra, Goa, Gujarat, Karnataka and Madhya Pradesh to cater to the needs of society.
(Note - All the information contained in this page has been sourced from the official website of TJSB Sahakari Bank.)
Under the fixed deposit option, individuals can choose from the following:
The features of this scheme are as follows:
| Period of Deposit | Minimum 1 year and maximum 10 years |
|---|---|
| Interest Payment | Quarterly Interest By Pay Order / Cash / Credit to Account |
| Maximum Amount of Deposit | No Limit |
| Minimum Amount of Deposit | Rs. 1,000/- |
| Additional Interest Rate for Senior Citizen | Applicable |
The features of this scheme are as follows:
| Period of Deposit | Minimum 1 year and maximum 10 years |
|---|---|
| Interest Payment | Minimum 1 year and maximum 10 years |
| Maximum Amount of Deposit | No Limit |
| Minimum Amount of Deposit | Rs. 1,000/- |
| Additional Interest Rate for Senior Citizen | 7.50% |
The features of this scheme are as follows:
| Period of Deposit | Minimum 7 days and maximum 365 days |
|---|---|
| Interest Payment | Quarterly Interest payable on maturity |
| Maximum Amount of Deposit | No Limit |
| Minimum Amount of Deposit | Rs. 1,000/- |
| Additional Interest Rate for Senior Citizen | Applicable |
The features of this scheme are as follows:
| Period of Deposit | Minimum 1 year and maximum 10 years |
|---|---|
| Interest Payment | Quarterly Compounded Interest payable on maturity |
| Maximum Amount of Deposit | No Limit |
| Minimum Amount of Deposit | Rs. 1,000/- |
| Additional Interest Rate for Senior Citizen | Applicable |
Source: TJSB Sahakari Bank website
Interest Rates on domestic term deposits (w.e.f. 17.09.2019)
| Particulars | General / Co-operative Societies / Banks / Trusts / NRO (p.a.) | Senior Citizens (p.a.) |
|---|---|---|
| 7 days to 14 days | 5.25% | 5.25% |
| 15 days to 90 days | 5.50% | 5.50% |
| 91 days to 180 days | 5.75% | 5.75% |
| 181 days to 12 months | 6.25% | 6.25% |
| Above 12 months to 36 months | 7.00% | 7.50% |
| Above 12 months to 60 months | 7.00% | 7.50% |
| Above 60 months | 7.00% | 7.50% |
| Particulars | Individuals / Group of Individuals. Revised for deposit of all Categories w.e.f. 16.08.2019 (p.a.) |
|---|---|
| 12 months | 6.25% |
| Above 12 months up to 36 months | 7.00% |
| Above 36 months up to 60 months | 7.00% |
| Above 60 months up to 120 months | 7.00% |
Interest rates on FCNR (B) deposits and RFC Deposits (USD, GBP, EUR, AUD) w.e.f. 1st September, 2019
Click here to know about Interest rates on FCNR (B) deposits and RFC Deposits
Source: TJSB Sahakari Bank website
Individuals meeting the eligibility criteria set out by TJSB Sahakari Bank can open a fixed deposit account with the bank. For opening a deposit account, one can head to the nearest branch office of the bank (this can be found on the official website of the financial institution) and submit the relevant documents. TJSB Sahakari Bank provides users the facility of internet banking, mobile banking and SMS banking.
The eligibility criteria for different schemes are as under:
Individuals who would like to open a fixed deposit account with TJSB Sahakari Bank will have to provide identity proof and address proof. Some of the documents that may be accepted as proof of identity include - passport, voter ID card, PAN card, Aadhaar card and driving license. The documents that may be used as proof of address are - passport, driving licence, Aadhaar card and voter ID card, among others. Individuals are advised to contact the customer care of TJSB Sahakari Bank for more information on the documents required to open a fixed deposit account.
