Cosmos Bank FD rates

The Cosmos Bank or the Cosmos Co-operative Bank LTD., is one of the oldest Urban Co-operative Banks in India.

Cosmos Bank holds its position of being 2nd largest cooperative bank in India. Over the century, it has strengthened its financial set up through innovative business.

Financial setup of the bank as on 31.03.2017 was ₹ 27110.26 crore, comprising of deposits of ₹ 15649.16 Crore and advances of ₹ 11461.1 Crore. Also, Cosmos Bank operates through 140 branches in India spread across 7 States and in 39 Major Cities. One of the most popular products offered by Cosmos Bank is a Fixed Deposit. Note: All information has been sourced from the official website of Cosmos Bank.

Cosmos Bank Fixed Deposit Interest Rates

(Interest rates subject to the bank’s discretion)

Period of Deposit General, NRO, Institutional, Co-operative Credit Society Resident Senior Citizen
7 days to 14 days Nil 4.00% Quarterly Interest By Pay Order / Cash / Credit to Account
15 days to 45 days 5.25% No Limit
46 days to 90 days 5.50% 5.50%
91 days to 181 days 6.00% 6.00%
182 days to 12 months 6.50% 6.50%
Above 12 months to 18 months 7.30% 7.55%
Above 18 months to 24 months 7.00% 7.00%
Above 24 months to less than 39 Months 6.75% 6.75%
39 Months (Only monthly/Quarterly payout) 7.50% 7.50%
More than 39 Months to less than 5 Years 6.75% 6.75%
5 years up to 10 years 6.75% 6.75%

Cosmo TAX Saver Deposit Scheme

General & HUF Senior Citizen
7.25% 7.25%

Flexi Fixed Deposit Scheme – Revised Rate

For both General & Senior Citizen - 5.25%

Interest rates on Domestic Term Deposits are revised w.e.f 20.09.2019.

NRE and NRO Interest Rates

Interest Rates on NRE Term Deposit applicable w.e.f. 20.09.2019 are as follows:-

Period of Deposit NRE Term Deposit rates w.e.f.20.09.2019
Only 1 year Quarterly Interest By Pay Order / Cash / Credit to Account
Above 12 months to 18 months No Limit
Above 18 months to 24 months Rs. 1,000/-
Above 2 years to less than 5 years Applicable
5 years up to 10 years Quarterly Interest By Pay Order / Cash / Credit to Account

Interest Rates for Cosmo FCNR (B) and Cosmo FCNR (B) Royale Deposits with effect from 01.10.19 are as follows:

Tenor USD Applicable GBP Applicable EURO Applicable JPY Applicable
1 year to less than 2 years $ 3.07 £ 1.92 € 0.82 ¥ 1.15
2 year to less than 3 years $ 2.90 £ 1.92 € 0.79 ¥ 1.12
3 Years to less than 4 years $ 3.82 £ 2.89 € 1.79 ¥ 2.10
4 Years to less than 5 years $ 3.79 £ 2.87 € 1.82 ¥ 2.10
5 Years $ 3.78 £ 2.87 € 1.85 ¥ 2.10

Interest Rates for Cosmo FCNR (B) Premium and Cosmo FCNR (B) Double Bonanza Scheme with effect from 01.10.19 are as follows:

Tenor USD Applicable GBP Applicable EURO Applicable JPY Applicable
1 year 1 day 3.08 1.93 0.83 1.16

Interest Rates on Resident Foreign Currency (RFC) Deposits for the Month of October 2019:

Period of Deposit Interest Rates Applicable for RFC USD Deposit Interest Rates Applicable for RFC Euro Deposit
1 month to less than 3 months 2.02t 0.00
3 months to less than 6 months 2.09 0.00
6 months to less than 1 year 2.06 0.00
1 year to less than 2 years 2.83 0.58
2 years to less than 3 years 2.65 0.54
3 years 2.57 0.54

Types of Cosmos Bank Fixed Deposit Schemes

  • 80C Income Tax Deposit Scheme: This is a tax saving term deposit scheme which allows Rs. 1.5 lakhs investment for a lock-in period of 5 years. Tax deduction can be claimed on the invested amount.
  • Flexi-Fixed Deposit Scheme: Under this FD account, any balance in excess of Rs. 15, 000 is transferred to the deposit account in multiples of Rs. 5000 to earn higher interest. Also, you can avail an overdraft facility of up to 90% against the deposit amount.

Documents Required for Cosmos Bank Fixed Deposit

The following documents are required to open a Fixed Deposit in Cosmos Bank

  1. PAN Card
  2. Application Form

How to Apply for Cosmos Bank Fixed Deposit Schemes

You can apply for Cosmos Bank Fixed Deposit by visiting the official bank branch and submitting the application form for FD in person along with a cheque or cash.

Best investment policies at lowest premiums.
Top performing investment plans, better than mutual funds.
Plans with zero commissions
and lowest charges in the market.
tax-free returns
Benefits for 80C, 10(10D) and no LTCG.
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