At Vaasudev Cooperative Society, our Savings Bank (SB) Account is designed to encourage individual savings while offering high liquidity and premium interest rates. Unlike traditional banks that offer fixed, low interest on savings accounts, Vaasudev offers a tiered interest system where your interest rate grows with your savings balance.
Your deposits are safe, secure, and easily accessible. Whether you are saving for family requirements, future planning, or immediate expenses, our SB account serves as the ideal foundation for your financial goals.
Our interest rates vary according to your daily deposit balance slab:
| Daily Balance Slab | Interest Rate |
|---|---|
| Up to ₹10,000 | 4.00% p.a. |
| ₹10,001 to ₹1,00,000 | 4.50% p.a. |
| ₹1,00,001 to ₹5,00,000 | 5.00% p.a. |
| Above ₹5,00,000 | 5.50% p.a. |
*Interest is calculated daily on the closing balance and credited to your account quarterly.
Designed to provide maximum value, security, and liquid convenience to our members
Earn up to 5.50% p.a. interest, significantly higher than commercial banks which average 2.70% - 3.00% p.a. on savings balances.
Enjoy a zero-maintenance account. No hidden service charges, account statements fees, or transaction ledger penalties.
Receive real-time transaction updates on deposits, interest credits, and cash withdrawals directly to your mobile phone.
Withdraw your cash immediately at any of our branches or transfer money via NEFT/RTGS to other bank accounts instantly.
Quick onboarding process with minimal documentation requirements
To open a Savings Bank account, you must hold an active membership with Vaasudev Cooperative Society. Joint accounts are available for members (e.g. husband/wife, business partners). Minor accounts can also be opened under guardianship to encourage early savings habits.
A minimum initial deposit of **₹500** is required to open the account, which must be maintained as the minimum balance.
