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Thane Bharat Sahakari Bank Fixed Deposit

Updated 06 Dec 2023

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.

Types of FDs in Thane Bharat Sahakari Bank

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

Benefits of Investing in Thane Bharat Sahakari Bank Fixed Deposits

  • 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.

Features of Thane Bharat Sahakari Bank FDs

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.

Eligibility Criteria

  • 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.

Documents Required

Identity proofs:

  • PAN card
  • Aadhar card
  • Voter ID card

Address proofs:

  • Ration card


Two passport-size photographs.

How to Open an FD in Thane Bharat Sahakari Bank

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

Thane Bharat Sahakari Bank FD Premature Withdrawal

  • 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.


How is a Bharat Deposit different from a regular FD?

This is a tax-saving FD, with a lock-in period of 5 years. No premature withdrawals, overdrafts, or loan facilities are available under this scheme. Regular FDs can be for any tenure and are eligible for premature withdrawals and loan facilities.

How is premature withdrawal made in case of death?

Upon the account holder's death, the nominee or legal heir can request a premature withdrawal. Proper documentation and adherence to the bank's policies are required.

Is the ₹5 lakhs DICGC insurance cover applicable on Thane Bharat Sahakari Bank FD?

Yes, the DICGC insurance cover of ₹5 lakhs is applicable.

Can renewal instructions be changed to an active fixed deposit?

Yes, instructions can be updated by contacting the respective branch.

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