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Cosmos Bank Fixed Deposit

Updated 06 Dec 2023

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.

Types of FDs in Cosmos Co-operative Bank

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

Benefits of Investing in Cosmos Co-operative Bank Fixed Deposits

  • 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.

Features of Cosmos Co-operative Bank 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.

Eligibility Criteria

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

Documents Required

Identity Proofs

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


Address Proofs

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

How to Open an FD in Cosmos Co-operative Bank

  • 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)

Cosmos Co-operative Bank FD Premature Withdrawal

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


When is the right time to invest in an FD?

Depends on financial goals, risk appetite, and current interest rates.

Why invest in FDs when other instruments offer better returns?

FDs guarantee returns and are insured by DICGC.

Is the ₹5 lakhs DICGC insurance cover applicable on Cosmos Bank FD?

Yes, up to ₹5 lakhs.

How do I break my Cosmos Co-operative Bank FD?

Visit the nearest branch or use the online banking facility.

Can I get a Credit Card against FD at Cosmos Co-operative Bank?

No, such a facility is not available.

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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