Current Account
Ideal for businesses requiring high-frequency transactions.
Rashtrakuta Souharda Sahakari Bank's Current Account is designed for businesses, firms, companies, and individuals who require frequent banking transactions. With unlimited transaction facilities, overdraft options, and multi-city cheque facility, our current account caters to all your business banking needs.
Current Account Interest Rates
Secure your future with high-return deposit schemes offering flexible tenure options and attractive interest rates.
Current Account Interest Rates
| Time Period | Interest Rate | Special Interest |
|---|---|---|
| 7 days ? 29 days | 4.00% | 4.50% |
| 30 days ? 45 days | 5.00% | 5.50% |
| 46 days ? 90 days | 6.00% | 6.50% |
| 91 days ? 180 days | 6.50% | 7.00% |
| 181 days ? 270 days | 7.00% | 7.50% |
| 271 days ? 364 days | 7.25% | 7.75% |
| 1 year | 8.00% | 8.50% |
| 1 year ? 2 years | 8.50% | 9.00% |
| 2 years ? 3 years | 9.00% | 9.50% |
| 3 years ? 5 years | 8.75% | 9.25% |
| Above 5 years | 8.50% | 9.00% |
Terms & Conditions
Special interest rates are applicable for senior citizens, women above 51 years, disabled soldiers, government employees, bank employees, and retired employees as per society norms.
Current Account Highlights
- Unlimited transactions
- Overdraft facility
- Multi-city cheque facility
- Free RTGS/NEFT
- Dedicated relationship manager
- Cheque book facility
Eligibility
This deposit may be opened by:
- Individual members
- Joint account holders
- Minors through guardian
- Hindu Undivided Families (HUF)
- Partnership firms
- Companies and institutions
- Trusts, associations, and cooperative organizations
| Deposit Amount & Tenure | |
|---|---|
| Minimum deposit amount: | Rs. 2000/- |
| Maximum | No specific upper limit (Subject to policy) |
| Tenure Options | Short-term, Medium-term, and Long-term deposits available. |
Loan Against Current Account
Available with margins based on the residuary period (from loan date to maturity date):
| Residuary Period of Deposit | Margin | Amount of Loan |
|---|---|---|
| Less than One year | 10% | 90% of Deposit Value |
| One year to Less than Two years | 15% | 85% of Deposit Value |
| Above Two years | 25% | 75% of Deposit Value |
The rate of interest chargeable on the Loans shall be 2% more than the rate of interest payable on the term deposits for General Public & 1% More in case of for Senior Citizen. Maximum period 1 year / 12 months for Over Draft Facility against term deposits.
Nomination Facility
Nomination facility is available for Current Account accounts to ensure that the deposit proceeds can be transferred to the nominee in the event of unforeseen circumstances.
Auto renewal of deposit
Deposit shall be renewed automatically for a similar period on the date of maturity at the rate of interest applicable for the period as on the date of maturity, in the absence of any renewal instructions well in advance.
Overdue deposits
If a Term Deposit matures and proceeds are unpaid, the amount left unclaimed with the Bank shall attract rate of interest as applicable to saving account or the contracted rate of interest on the matured Term Deposit, whichever is lower or as per RBI guidelines charges from time to time.
Interest Rates
Interest rates on Current Account are determined based on the deposit tenure and prevailing policies of the society. Members are advised to refer to the Interest Rates page or contact the branch for the latest rates.