Recurring Deposit Co-Operative Banks 2025
Co-operative banks often offer competitive interest rates on RDs, sometimes even higher than those provided by commercial banks, especially for senior citizens. Additionally, the local and community-focused nature of co-operative banks ensures more personalized service and ease of access for customers.
Co-operative Banks across India offer attractive recurring deposit schemes that can help customers earn higher income from investments. Some of the co-operative bank recurring deposit schemes are elucidated below.
The Ernakulam District Co-operative Bank Recurring Deposit (RD)
The Ernakulam District Co-operative Bank recurring deposit scheme is offered to individuals at a fixed rate of interest. A pre-fixed amount of money has to be deposited in the account by the stipulated date every month.
The depositors cannot withdraw money before the maturity period of the scheme. This co-operative bank also offers a new recurring deposit scheme called the ‘Samrudhi Recurring Deposit Scheme’. Those who are eligible to open this scheme are partnership firms, individuals, associations, companies, and so on. The minimum tenure for which an RD account can be opened is for 3 years and the maximum period is 10 years.
The National Co-Operative Bank RD
The National Co-Operative Bank offers the recurring deposit scheme called “Samruddhi Deposit Scheme” to its customers at an attractive rate of interest. A depositor can hold a recurring deposit account for a minimum period of 12 months and a maximum period of 120 months. The amount of deposit that can be made can be a minimum of Rs. 500 and above.
The interest rate varies as per tenure and the applicable interest rate is as follows:
Tenure | Interest Rate (in %) |
12 months – 24 months | 9.50% |
25 months – 36 months | 9.25% |
37 months – 60 months | 9.75% |
61 months – 120 months | 9.00% |
Senior Citizens will get an additional benefit of extra 0.50% interest hike on the recurring deposit. This benefit also extends to registered societies, women who have attained 55 years of age or older. Women depositors of any age are eligible to get an additional benefit of extra 0.25% interest hike on the recurring deposit. Interest is compounded on a quarterly basis.
Citizen Credit Co-Operative Bank Recurring Deposit (RD)
CitizenCredit Co-Operative Bank also offers Recurring Deposit schemes to its customers. The minimum deposit that can be made is Rs.100 and higher amounts in multiples of Rs. 100. The total amount deposited in the recurring deposit and the interest accrued on the same is given to the depositor at the time of maturity. Interest is compounded on a quarterly basis. Senior Citizens will get an additional benefit of extra 0.50% interest hike on the recurring deposit.
Lokmanya Multipurpose Co-Operative Society Ltd. Recurring Deposit
Lokmanya Multipurpose Co-Operative Society Ltd. Offers recurring deposit for a minimum tenure of 12 months and a maximum tenure of 36 months. Premature withdrawal of funds is permitted without significant penalty charges. Nomination facility is available.
The interest rate on the Lokmanya Multipurpose Co-Operative Society Ltd. recurring deposit is applicable as follows:
- For a tenure of 1 year, the applicable interest rate is 8.50%.
- For a tenure of 2 years, the applicable interest rate is 9.50%.
- For a tenure of 3 years, the applicable interest rate is 10.50%.
Senior Citizens, who are 60 years old or above, will get an additional benefit of extra 0.50% interest hike on the recurring deposit scheme.
Tamil Nadu Industrial Co-Operative Bank Recurring Deposit Scheme
Tamil Nadu Industrial Co-Operative Bank Recurring Deposit Scheme can be opened individually or jointly. This scheme can also be availed by minors with the assistance of a guardian. The interest rate is same as that which is applicable on the fixed deposit scheme offered by the Bank. The minimum deposit that can be made is Rs.100 and higher amounts in multiples of Rs. 100.
Minimum tenure for which the recurring deposit account can be held, is 6 months. Loan against recurring deposit, nomination facility and pre-mature payment facility are available in this scheme. Tax deductible at source is applicable only if the interest earned on investment exceeds Rs. 10,000 annually.
RD Article pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Co-operative Bank Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit
FAQs on Recurring Deposit Co-Operative Banks 2025
- What is the interest rate for cooperative bank RD 2025?
The interest rate on recurring deposits of tenure one year in Co-operative banks in 2025 is 8.50%. while for two and three years, the interest rate on RDs are 9.50% and 10.50%, respectively.
- What is the maximum period for which RD can be opened in co-operative banks?
A recurring deposit account can be opened in a co-operative bank for a maximum of ten years.
- What is the minimum lock in period for recurring deposit in Co-operative banks?
The minimum lock-in period in Co-operative banks is six months.
- What are the rules regarding recurring deposit?
Some of the rules regarding recurring deposit account in both co-operative banks and other banks in India is that the rate of interest offered is same as fixed deposit account. Depositor need not pay any tax for the interest amount less than Rs.10,000. Tax exemption under RDs can be availed by the depositors by submitting Form 15G or 15H.
- What is the limitation of recurring deposit?
The primary limitation of recurring deposit accounts in co-operative banks or in any other banks is their withdrawal flexibility. Unlike the savings account that ensures easy withdrawal, RD account does not allow depositors to withdrawal their fund before maturity tenure of the RD scheme.
- What is a recurring deposit in a cooperative bank?
A recurring deposit is a regular deposit investment scheme offered by cooperative banks like other Indian banks where deposits invest a fixed amount on a regular basis to earn a decent amount after maturity.
- What is the main objective of recurring deposit account?
The main objective of recurring deposit account is to create a habit of regular deposit to earn decent returns on investments. It offers flexibility and ease of investment due to its interest component and regular deposit factor.
- How many types of recurring deposits are there in Co-operative banks?
There are five different types of recurring deposits (RD) in Co-operative banks Senior citizen's RD accounts, NRE RD account, Regular RDs, RDs for minors, and Tax saving RDs.
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