The Chairman of The Cosmos Co-op Bank Ltd., CA Milind Kale announced that, Cosmos Bank has recently launched The Long Term {Subordinated} Deposits Scheme – 5 on approval of Reserve Bank of India & Central Registrar of Co-op Societies – New Delhi, for limited amount for limited time period.
Kale informed that the Long Term {Subordinated} Deposits (LTD) Scheme – 5 has started from Tuesday 21st March 2017 for the investors. All investors will get interest at 8.35% p.a. payable quarterly under this Long Term Deposit Scheme.
The tenure for this deposit scheme will be for 63 months and interest will be paid quarterly. The quarterly interest amount will be credited to investor’s account. The minimum amount to be invested under this scheme is Rs. 10000/- (Rs. Ten thousand only) and thereafter in the multiples of Rs.1000/-(Rs. One thousand only). Nomination facility is available for this scheme. The terms and conditions of Reserve Bank apply for this Scheme. The Offer Document for this scheme is available with all branches of Cosmos Bank.
The Cosmos Co-operative Bank Ltd., is multi-state scheduled co-operative bank with a legacy of 111 years, having 140 branches in 7 states.