Cosmos Bank Fixed Deposit

The Cosmos Co-operative Bank has been a cornerstone of the financial landscape in Western India for over a century. With its legacy of offering reliable banking services, this institution's fixed deposits (FDs) stand out for their attractive interest rates and flexible tenures.

Offering multiple types of FDs suited for different requirements, this bank caters to a wide demographic, from the regular depositor to the tax-savvy investor. Let's delve into the different types of FDs Cosmos Bank offers, their features, benefits, and other key details.

• Fixed Deposit Scheme
• Cosmo Tax Saver Deposit Scheme
• Cosmos Bank Flexi Fixed Deposit Scheme
• Cosmo Care Deposit Scheme

• Period: FDs range from 7 days to 10 years.
• Convenience: Online FD opening process.
• DICGC insurance: Coverage up to ₹5 lakhs.
• Minimum amount: Begin with just ₹1,000 or ₹100 for tax saver FDs.
• Preference to senior citizens: Additional interest rates
• Nomination facility: Available for all FDs.

Fixed Deposit Scheme

• Minimum investment: ₹1,000; in multiples of ₹100.
• Maximum investment: No upper limit.
• Scheme tenure: 7 days to 10 years.
• Interest payout: Monthly, quarterly & cumulative options.
• Auto-renewal: Available.
• Premature withdrawal: Allowed with penalty.
• Senior citizens: Higher interest rates.
• Nomination: Available.

Cosmo Tax Saver Deposit Scheme

• Minimum investment: ₹100.
• Maximum investment: ₹1.5 lakhs p.a.
• Tenure & Lock-in: 5 years.
• Senior citizens: Higher interest rates.
• Loan facility: Not available.
• Premature withdrawal: Not permitted (exception for depositor’s death).
• Nomination: Available.

Cosmos Bank Flexi Fixed Deposit Scheme

Eligibility: Customers maintaining Premium and Royal savings accounts and maintaining current accounts are eligible.
Balance Transfer:
1- If the amount exceeds the pre-defined limit in the concerned account, the excess amount will be automatically transferred to the Flexi FD account.
2- In case of a requirement for an amount in the concerned account, the amount will be transferred from Flexi FD to that account.
Interest: Paid after 30 days to the operative account.
Overdraft: Up to 90% available.

Cosmo Care Deposit Scheme

• Medical benefits in 100+ hospitals.
• Minimum investment: ₹25,000.
• Average quarterly balance: ₹5,000 in savings account.
• Tenure: 7 days to 10 years.
• Overdraft: Available.
• Premature withdrawal: Allowed during hospitalisation.
• Nomination: Available.

• Indian individuals above 18 years.
• Organisations.
• Minors (under parental guidance).
• Non-resident Indians (NRIs).

Identity Proofs

Age proof: Aadhaar card, Voter ID, or per bank guidelines.

Address Proofs

• PAN card.
• Electricity bill.
• Telephone bill.
• Voter ID.

• Visit a Cosmos Bank branch.
• Obtain and complete the term deposit form.
• Attach all required documents and payment.
• Collect the FD receipt.
• (Note: Online process also available)

A penalty of 1% is imposed on the applicable rate for the FD's tenure.