Teachers' Co-operative Bank

Deposit Scheme

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Deposit Scheme

DEPOSIT SCHEMES

SAVINGS DEPOSITS

Savings Bank Account can be opened by :

An individual in his/her own name

Individuals in their joint names with suitable repayment instructions

Minor represented by parent/guardian

Clubs, Societies, Associations, Trusts, Executors, Educational Institutions, Administrators, HUF, etc. Interest will be allowed at the rates decided by the bank/RBI from time to time, on the daily closing balance.

The prospective account holder should comply with the ‘Know Your Customer (KYC)’ norms by producing passport size photograph and one of the following documents in support of identity and address:

Proof of Identity

Passport
PAN Card
Adhar Card
Voter’s Identity Card
Driving licence
Identity Card subject to the Bank’s satisfaction
Letter from a recognised public authority or public servant verifying the identity and residence of the customer to the satisfaction of the Bank

Address proof

Telephone bill
Bank Account Statement
Letter from any recognised public authority
Electricity bill
Ration Card
Letter from the employer subject to satisfaction of bank

CURRENT DEPOSITS

Savings Bank Account can be opened by :

Current account can be opened by individual / HUF, a proprietary concern, a partnership firm, a company, a trust, a local body, Govt. department by signing prescribed account opening form(s) and with proper introduction, identification, address proof etc., accompanied by prescribed documents. The prospective account holder should comply with the ‘Know Your Customer (KYC)’ norms by producing one of the following documents in support of identity and address:

Accounts of companies

Name of the company
Principal place of business
Mailing address of the company
Telephone / Fax Number

Accounts of partnership firms

Legal name
Address
Names of all partners and their addresses
Telephone numbers of the firm and partners

Accounts of trusts & foundations

Names of trustees, settlers, beneficiaries and signatories
Names and addresses of the founder, the managers / directors and the beneficiaries
Telephone / fax numbers

Certificate of incorporation and Memorandum & Articles of Association
Bank Account StatementResolution of the Board of Directors to open an account and identification of those who have authority to operate the account
Power of Attorney granted to its managers, officers or employees to transact business on its behalf
Copy of PAN allotment letter
Copy of the telephone bill

Registration certificate, if registered
Partnership deed
Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf
Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses
Telephone bill in the name of firm/partners

Certificate of registration, if registered
Power of Attorney granted to transact business on its behalf
Any officially valid document to identify the trustees, settlors, beneficiaries and those holding Power of Attorney, founders / managers / directors and their addresses
Resolution of the managing body of the foundation / association
Telephone bill

FIXED DEPOSIT

This term deposit scheme is a fixed in nature and interest can be paid at regular intervals viz. monthly, quarterly, half yearly or yearly. The rate of interest depends on the period of deposit. It is an ideal deposit scheme for those who can plan for regular income.

KALPAVRAKSHA CASH CERTIFICATE

This is a most popular scheme in our Bank. It is a reinvestment Term Deposit scheme where the deposit amount grows rapidly as interest is compounded quarterly. The rate of interest depends on the period of deposit.

RECURRING DEPOSITS

One can save a fixed sum every month in this account and get a handsome lump sum amount on maturity. An ideal scheme for salary earners to build up a good sum in order to use it for future needs. The account can be opened by any individual or group of individuals or firms or companies etc. The maturity period will be from 12 to 120 months

MADHUSANCHAYA DEPOSIT

This Deposit is popularly known as "Pigmy" account. Our collection agents will visit account holder's place daily to collect the amount. A tiny amount deposited every day will grow into a substantial sum at the end of the deposit period.