Welcome to The Malegaon Merchants Co-op. Bank Ltd.,Malegaon
The Malegaon Merchants Co-op. Bank Ltd.,Malegaon
Reg. No.: NSK/BNK/101 Date 30/03/1962
Reserve Bank License No.: UBD/MH/930 P.Date. 30/11/1987

Deposit Schemes

Various Deposit Plans of the Bank

🔄 Reinvestment Deposit Scheme

  • Invest ₹1,00,000/- for 15 months and get ₹1,08,393/-.
  • Invest ₹1,00,000/- for 27 months and get ₹1,15,613/-.
  • Invest ₹1,00,000/- for 36 months and get ₹1,21,341/-.
  • Invest ₹1,00,000/- for 39 months and get ₹1,25,299/-.
  • Invest ₹1,00,000/- for 60 months and get ₹1,41,478/-.

💰 Monthly Income Deposit Scheme

By investing a fixed amount for a fixed period, you are planting a money tree that gives you monthly income.

  • Invest ₹1,00,000/- for 15 to 36 months and receive ₹539/- per month (₹580/- for senior citizens).
  • Invest ₹1,00,000/- for 36 to 60 months and receive ₹580/- per month (₹621/- for senior citizens).

📆 Monthly Recurring Deposit Scheme.

  • Invest ₹2,300/- per month and receive ₹ 1,00,910/- after 39 months.
  • Invest ₹2,600/- per month and receive ₹1,03,542/- after 36 months.

🏦 Bank's Features Regarding Deposits

  • Senior citizens get an extra 0.5% interest for 12 months and above tenure.
  • Nomination (heir) facility for term deposits.
  • Deposit insurance protection and premium paid.
  • Account can be opened in the name of a minor or jointly.
  • Friendly, prompt, and honest service.
  • Visit the nearest branch to get details about deposit schemes.

🛡️ Deposit Insurance

💼 Deposit insurance protection up to ₹5 lakhs*.

For the safety of customer deposits, the bank sends the semi-annual insurance premium for the upcoming six months at the end of September and March to the affiliated institution "Deposit Insurance and Credit Guarantee Corporation (DICGC)" of the Reserve Bank.