Savings Account
Keep money safe, withdraw when you need it, and earn the society's savings rate.
A savings account is the everyday account at Shradha Nagari Sahakari Pat Sanstha Maryadit. You deposit money you do not need for immediate expenses, withdraw at the branch when you need it, and earn the published savings interest rate of 5%.
It can be opened for one person or jointly for the family. Students, salaried members, senior citizens, and households in Kotoli, Panhala, and nearby villages use it as their account with the society. It is separate from a fixed deposit, a recurring deposit, and the pigmy daily collection account.
Why members choose this
5% interest
The published interest rate on savings deposits is 5%.
Money you can use
This is a running account, not a locked deposit. Withdraw at the branch when you need funds.
Nominee
You can record a nominee when the account is opened.
Society payments
Members can use the society's Google Pay, PhonePe, NEFT, RTGS, and net banking facilities where those services are enabled on the account.
Who it is for
Individuals and families
A place for household savings that should stay safe and earn interest.
Students
A simple account for money received from home or from work.
Joint account
Open the account in more than one name for the family.
Senior citizens
Branch service at Kotoli, with a nominee on the account.
Documents to bring
- Identity proof, such as Aadhaar
- Address proof
- PAN, when the office asks for it
- Passport-size photographs
- Nominee details
Terms and conditions
- The published interest rate on savings is 5%.
- The account is for personal and household savings, not for a locked fixed deposit.
- Bring original documents for the branch to check. The office will tell you if a copy must be left with the form.
- Minimum balance, if any applies to your account, is confirmed by the branch when you open it.
Frequently asked questions
What is a savings account?
An account to keep money safely, withdraw when you need it, and earn interest. It is the society's basic account for individuals and families.
What is the interest rate?
The published interest rate on savings is 5%.
Who can open it?
Individuals, students, senior citizens, and joint account holders. Visit the Kotoli branch with identity proof, address proof, and a photograph.
Is there a minimum balance?
The branch confirms the balance rule for the account you open. Ask when you submit the form so you know it before you start.
Related services
Open a savings account
Visit the Kotoli branch or send an enquiry. Bring identity proof, address proof, and a photograph.
Contact the branch