The Kuttiyeri Service Co-operative Bank, initially registered as a multipurpose co-operative society on March 13, 1914, underwent a transformation into a cooperative society on November 5, 1961. Since March 7, 1980, it has been functioning as a cooperative bank. The Kanhirangad branch commenced its operations on February 25, 1990, followed by the Talor Pushpagiri branch on January 1, 1999, and the Karkk branch on December 6, 2004. Additionally, the main branch at Vellavu has been operational since May 1, 1997.
A Fixed Deposit offers you something more than a normal savings bank account does. It is a fixed amount of money that you deposit for a fixed period of time, until maturity that offers a higher rate of interest. Fixed Deposits are generally very safe investments and are used to denote a larger class of investments with varying levels of liquidity.Usually it cannot be withdrawn before the date of maturity and this ensures that the money is fully safe and would achieve its full range of potential by the date of maturity. You have the facility to close the account at any time by paying the 1% premature closure charge additionally.
The Karivellur Service Co-operative Bank offers long-term and short-term fixed deposits for its customers. The customers can select what and how much to invest and get assured and solid returns on investment. The customers have the option to choose from a number of duration periods and decide on what is convenient and most suited for their requirements.
| SL No | Period of Deposit | Individuals and Institutions | Senior Citizen |
|---|---|---|---|
| 1 | 15 Days to 45 Days | 6.00% | 6.50% |
| 2 | 46 Days to 90 Days | 6.50% | 7.00% |
| 3 | 91 Days to 179 Days | 7.00% | 7.50% |
| 4 | 180 Days to 364 Days | 7.25% | 7.75% |
| 5 | 365 Days to 729 Days | 8.25% | 8.75% |
| 6 | 730 Days to 20 Years | 8.00% | 8.50% |
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