Co‑operative banks often offer higher deposit rates than commercial banks to attract customers. According to BankBazaar, interest rates at select co‑operative banks range between 5.40 % and 8.00 % for regular customers. Senior citizens usually receive an additional 0.50 % to 0.60 %. For example, Repco Bank offers 7.50 % (general) and 8.00 % (senior) for 18–24‑month deposits; the Andhra Pradesh State Co‑operative Bank pays 6.00 % (general) for one‑year deposits; Bharat Co‑operative Bank offers 7.30 % for 1‑18‑month deposits; and Saraswat Bank pays 7.25 % for about two years.
Sample Co‑operative Bank FD Rates
| Co‑operative bank | General rate | Senior citizen rate |
|---|---|---|
| Repco Bank (18–24 months) | 7.50 % | 8.00 % |
| Bharat Co‑operative Bank (1–18 months) | 7.30 % | 7.80 % |
| Andhra Pradesh State Co‑operative Bank (1 year) | 6.00 % | 6.60 % |
| Saraswat Bank (~2 years) | 7.75 % |
Co‑operative banks may have slightly higher risk than large commercial banks due to their smaller scale. Deposits are insured up to ₹5 lakh under the Deposit Insurance and Credit Guarantee Corporation (DICGC). Always confirm the bank’s financial health and authenticity before investing.
