Thane Bharat Sahakari Bank Fixed Deposit

The Thane Bharat Sahakari Bank Ltd., set up in 1979, is a renowned co-operative bank in Thane district. With its inception driven by the Reserve Bank of India (RBI) in April 1979, the bank has since expanded its presence across multiple districts. As of March 2022, it boasts 30 branches across Mumbai, Thane, Raigad, and Pune districts.

With its steady growth and trust, the bank offers a variety of fixed deposit schemes that cater to the diverse needs of its customers.
 

• Deposit Multiplier Scheme Fixed Deposit (DMS FD)
• Monthly/Quarterly Fixed Deposit
• Bharat Deposit

• One can save tax by investing in Bharat Deposits.
• Senior citizens get additional interest rates higher than regular citizens.
• Deposit Insurance and Credit Guarantee Corporation (DICGC) insurance covers the amount invested with the bank for the total sum of ₹5 lakhs.
• A nomination facility is available.
• Investors can avail loans on FDs on the principal amount and accrued interest. However, this feature is not available in the Bharat Deposit scheme.
• One can start investing with an amount as low as ₹1,000. So it’s good for small savings too.
• Auto reveal facility and part-withdrawal are also allowed by the bank.

Deposit Multiplier Scheme Fixed Deposit (DMS FD)

• The reinvestment plan where depositors reinvest the periodic interest and accumulate them until maturity.
• Additional interest earned by not opting for periodic interest payments.
• Create with a minimum amount of ₹1,000, no maximum limit.
• Tenure can be between 1 to 10 years.
• Loan facilities available at competitive rates.
• Premature withdrawal attracts penal interest.
• Nomination facility is available.

Monthly/Quarterly Fixed Deposit

• Option to choose interest payment every month or quarter.
• Minimum amount of ₹1,000 with no maximum limit.
• Tenure ranging from 1 to 10 years.
• Nomination facility is available.
• Loans can be availed at affordable rates.
• Premature withdrawal is allowed but with penal interest.

Bharat Deposit

• Provides dual benefits of Interest income and Tax deduction.
• Minimum deposit of ₹50,000 and then in multiples of ₹10,000.
• Tax deduction under Section 80C limited to ₹1.5 lakhs.
• Fixed tenure of 5 years with a lock-in period.
• No loans permitted.
• Nomination facility available.

• Any resident aged above 18 years.
• Any minor account holder jointly with an adult.
• Hindu Undivided Family (HUF).
• Trust.
• More than one person in their joint names.
• Societies & corporates.
• Organisations.

Identity proofs:

• PAN card
• Aadhar card
• Voter ID card

Address proofs:

• Ration card

Additionally:

Two passport-size photographs.

• Visit the nearest Thane Bharat Sahakari Bank’s branch.
• Obtain and complete the fixed deposit form.
• Submit the form and required documents for processing.

• The bank may allow early withdrawal upon the depositor's request.
• The penal interest rates for premature withdrawal are communicated to depositors.
• Charges are based on the contract interest rate for the period the deposit remained with the bank.