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Bharat Bank Fixed Deposit

Updated 06 Dec 2023

Bharat Co-operative Bank, established in 1978, has been a cornerstone in the banking sector, gaining prominence as the fastest-growing co-operative bank. Rooted in its commitment to offer an array of banking services, the bank is especially recognised for its fixed deposit schemes. These deposits come with various benefits, catering to the diverse needs of the public.

This blog aims to elucidate the different types of fixed deposits available, their features, benefits, eligibility criteria, and more to provide a comprehensive understanding of what Bharat Co-operative Bank offers regarding fixed deposits.

Types of FDs in Bharat Co-operative Bank

  • Regular Fixed Deposit
  • Monthly or Quarterly Fixed Deposit
  • Flexi Fixed Deposit
  • Bharat Deposit Tax Benefit
  • Cumulative Fixed Deposit

Benefits of Investing in Bharat Co-operative Bank Fixed Deposits

  • Convenient account management
  • DICGC insurance up to ₹5 lakhs
  • Minimal investment requirement
  • Preferential rates for senior citizens
  • Potential tax savings
  • Auto-renewal feature
  • Loan against FD
  • Nomination facility

Features of Bharat Co-operative Bank FDs

Regular Fixed Deposit

  • Minimum investment of ₹1,000
  • Flexible tenure from 7 to 364 days
  • Available online banking services
  • Overdraft or advance up to 95% of the deposit
  • Penalty-free early withdrawal option

Monthly or Quarterly Fixed Deposit

  • Open to individuals, minors, societies, trusts, and HUFs
  • Duration of 1 to 120 months
  • Loan of up to 95% of deposit
  • Monthly or quarterly interest payment options

Flexi Fixed Deposit

  • Minimum balance of ₹25,000
  • Automatic sweep-out mechanism for funds over ₹50,000
  • Maximum sweep-out amount of ₹5,00,000
  • Tenure of 90 days

Bharat Deposit Tax Benefit

  • Minimum deposit of ₹100 for a 5-year lock-in
  • Maximum investment of ₹1.5 lakh per financial year
  • No premature withdrawal or auto-renewal

Cumulative Fixed Deposit

  • Minimum investment of ₹1,000
  • Tenure from 1 to 10 years
  • Interest compounded quarterly
  • Loan up to 95% of deposit and interest

Eligibility Criteria

  • Individuals
  • Minors
  • Registered co-operative societies
  • Registered public trusts
  • HUFs

Documents Required

Identity Proofs

  • PAN card
  • Aadhar card
  • Driving license
  • Voter ID
  • Passport

Address Proofs

  • Aadhar card
  • Voter ID
  • Electricity bill
  • Telephone bill

How to Open an FD in Bharat Co-operative Bank

Online Method

  • Log in to the bank's website or app.
  • Navigate to the 'Open a Fixed Deposit' option.
  • Complete the application form.
  • Review and submit the form.
  • Verify using the OTP sent to your registered details.
  • Deposit amount will be deducted from the linked account.

Offline Method

  • Visit a Bharat Co-operative bank branch.
  • Acquire and fill in the FD application form.
  • Submit documents and the form.
  • The bank will create your FD after verification.

Bharat Co-operative Bank FD Premature Withdrawal

The bank may apply a penalty for premature FD closure, calculated at the interest rate for the elapsed period minus 1%. No penalty is applied in the event of death claims.


Premature withdrawal in case of death?

In case of the death of any joint holder, the surviving holder can opt for premature withdrawal, complying with the bank's Deposits Policy and Terms & Conditions.


What is the tenure of interest payment?

The bank provides monthly, quarterly, and at-maturity interest payout options.

Is the ₹5 lakhs DICGC insurance cover applicable?

Yes, ₹5 lakhs DICGC insurance covers Bharat Co-operative Bank FD.

What happens at a minor's FD maturity?

The bank transfers the maturity proceeds to the minor's account or provides a pay order in the minor's favour.

Disclaimer: Wint Wealth makes no guarantee or warranty on the accuracy of the data provided on this site, the information displayed is subject to change and are provided on an as-is basis. Nothing contained herein is intended to or shall be deemed to be investment advice, implied or otherwise. You are advised to make your own enquiries, consult a professional advisor and verify the information prior to taking any investment decisions. We accept no liability for any loss arising from the use of information contained on this website.

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