The Mehsana Urban Cooperative Bank Limited offers FD rates of 3.75 – 7.50% p.a. to senior citizens and 4.15 – 8.00% p.a. to other depositors on tenures ranging from 7 days to 10 years. The multi-state scheduled bank also offers Tax Savings FD branded as Tax Bachat at an interest rate of 8.00% p.a. for senior citizen depositors and 7.50% p.a. for other depositors for a tenure of 5 years. Mehsana Bank RD rates are the same as FD interest rates.
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Highlights for Mehsana Urban Bank FD
| Highest slab rate | 7.75% p.a. (2 years 3 years) |
| For 1 year | 6.75% p.a. |
| For 2 years | 7.25% p.a. |
| For 3 years | 7.75% p.a. |
| For 4 years | 7.50% p.a. |
| For 5 years | 7.50% p.a. |
| Tax-Saving FD | 7.50% p.a. |
Fixed deposit rates as of 28 August 2024
Mehsana Urban Bank FD Rates
Mehsana Urban Bank FD Rates w.e.f. 1st July, 2024
| Tenure | Interest Rate (% p.a.) | |
| Non Senior Citizens | Senior Citizens | |
| 7 days to 29 days | 3.75 | 4.25 |
| 30 days to 90 days | 4.50 | 5.00 |
| 91 days to 180 days | 5.25 | 5.75 |
| 181 days to 364 days | 6.25 | 6.75 |
| 1 year | 7.00 | 7.50 |
| Above 1 year to 2 years | 7.25 | 7.75 |
| Above 2 years to 3 years | 7.50 | 8.00 |
| Above 3 years to 5 years | 7.00 | 7.50 |
| Above 5 years to 10 years | 6.75 | 7.15 |
Note: Mehsana Bank offers additional 0.60% p.a. interest rates on regular FD rates to super senior citizens
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Tax Saver FD Rates
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years | 7.50 | 8.00 |
Types of Mehsana Urban Bank Deposits
Fixed Deposit
- Tenure – 7 days to 10 years
- This fixed deposit scheme allows reinvestment of the interest component to the principal amount and thereby, helps in deriving the power of compounding
- The bank offers additional interest rates to both senior and super senior FD depositors
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Tax Bachat
- Minimum deposit – Rs. 100 and in multiples of Rs. 100
- Deposits under this scheme are eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C in each financial year
- Tenure – 5 years (lock-in period)
- Partial or premature withdrawal of fixed deposits are not allowed
- Loan against FD and overdraft facility is not available
Mehsana Urban Bank Recurring Deposit
- Minimum deposit – Rs 50 (in multiples of Rs 50 thereafter)
- Tenure – 6 months to 10 years (in multiples of 3 months thereafter)
- The RD interest rates are same as of regular fixed deposits