At Madikai Service Co-oeprative Bank, we’ve worked towards greater banking standards and customer satisfaction for over 40 years. It is this unwavering focus that inspires banking solutions that are convenient, value-added and customer-friendly. A full range of deposit schemes, loans and services combined with personalized service and computerized efficiency. Featured herein are the entire range of loan products and services with key details to help you choose the solution that’s right for you.Agricultural and Commercial Loans such as Overdraft & Cash Credit, Term Loan, Retail Loans
| Sl No | Deposit Period | Kerala State Co-operative Bank(renewed) | District Co-operative Bank(renewed) | Madikai Co-operative Bank(renewed) | ||||
|---|---|---|---|---|---|---|---|---|
| 1. | 15 days to 45 days | 5.00% | 5.75% | 6.00% | ||||
| 2. | 46 days to 90 days | 6.50% | 6.75% | 7.00% | ||||
| 3. | 91 days to 179 days | 6.75% | 7.25% | 7.50% | ||||
| 4. | 180 days to 364 days | 7.00% | 7.75% | 8.00% | ||||
| 5. | 1 year to below 2 Year | 7.25% | 8.25% | 8.50% | ||||
| 3. | Above 2 year | 7.25% | 8.00% | 8.25% | ||||
NB: For Senior Citizen deposit interest will increase 0.5%.
| Sl No | Deposit Period | Interest Rate(renewed) | ||
|---|---|---|---|---|
| 1. | 15 days to 45 days | 6% | ||
| 2. | 46 days to 90 days | 7% | ||
| 3. | 91 days to 179 days | 7.50% | ||
| 4. | 180 days to 364 days | 8% | ||
| 5. | 1 year to below 2 Year | 8.50% | ||
| 3. | Above 2 year | 8.25% | ||
Savings Bank Accounts Are Meant To Promote The Habit Of Saving Among The Citizens While Allowing Them To Use Their Funds When Required. The Main Advantage Of Savings Bank Account Is Its High Liquidity And Safety. On Top Of That Savings Bank Account Earn Moderate Interest Too. The Rate Of Interest Is Decided And Periodically Reviewed By The Government Of India. Presently, The Rate Of Interest Is 3.5% Compounded Half Yearly. Savings Bank Account Can Be Opened In The Name Of An Individual Or In Joint Names Of The Depositors. Savings Bank Accounts Can Also Be Opened And Operated By The Minors Provided They Have Completed Ten Years Of Age. The Minimum Balance To Be Maintained In An Ordinary Savings Bank Account Is Rs. 100. In Accounts Where Cheque Books Are Issued, A Minimum Balance Of Rs. 500/- Has To Be Maintained.
A Savings Account Can Be Opened By :
-Individuals
-Karta Of HUF
-Minors
-Regd. Co-Op. Societies
-Regd. Public Trusts
-Clubs And Associations
-Students(SSB).
Features:
-Open A Savings Bank Account With Us And Avail Cheque Book Facility
-Nomination Facility
-Demand Draft (Local And Outstation)
-Remittance
-Any Branch Banking (ABB)
Document Required For Opening A Savings Account:
-Passport Size Photograph Which Can Be Photographed By The Bank
-ID Proof: Passport/Driving License/Ration Card/Voters Identity Card/PAN Card
-Proof Of Residence: Gas Conn. Book/Telephone Bill/Electricity Bill/Bank Pass Book Etc
-An Introduction Of The Person From An Existing Account Holder
-PAN Number / Declaration In Form No.60 Or 61 As Per The Income Tax Act 1961