Welcome to Gujarat Mercantile Co-operative Bank

Call us at : 079-25397610, 25399754

About Fixed Deposits Facility

  • We are member of Deposit Insurance and Credit Guarantee Scheme in which customers deposit are insured up to Rs. 5 Lac.
  • Fix deposit scheme is an attractive scheme to deposit your savings for fix period for 45 days to 5 years as per your future requirements.
  • We provide attractive Interest Rates to our Customers from time to time.
  • We offer 0.50% extra Interest Rate to Senior Citizens(Age upto 60 or above)on fix deposits of 1 year period and above.
  • Guardian can open Minor’s Fix deposit A/c. When minor turn major then at maturity he/she can withdraw the amount with his/her signature, after providing valid age proof.
  • We offer nomination facility for all deposit accounts.
  • We provide quarterly, half yearly, yearly Interest payment to our customers on their existing Fix Deposits as per their instruction.
  • Loan and Overdraft facility is available against Fix deposit receipt.
  • The maturity date of Loan and Overdraft Account against Fix Deposit is maturity date of Fix Deposit Receipt.
  • TDS on Interest income will be deducted as per Income Tax Act.


  • Depositor has to fulfill KYC norms as per RBI directive.
  • Customer can Open Fix Deposit A/c with minimum of Rs.1000/-
  • Guardian can open Minor’s Fix Deposit A/c. When minor turn major then after providing valid age proof he/she can withdraw the amount with his/her signature.
  • In the case of premature of deposit it will observe that what is the period the deposit remained with bank, then the Interest Rate will compare between present rate and the rate at the time of deposit which ever is less will applicable and 1% penalty will also deduct from interest rate and then the interest calculation will be done on the deposit amount and that interest amount will be payable to the customer.
  • The maturity amount is payable on maturity date. If depositor do not renew or withdraw the deposit then extra interest will be paid as per RBI guideline.
  • All rights reserved to the Bank’s management to Change the Interest Rate of the Fix Deposit Scheme without prior notice. Change of Interest rate will be applicable to new deposits only.
  • The Bank having all rights of appropriation, set off, lien and change the rules and regulation for the scheme.
  • Auto Renewal Fixed Deposit Facility Available.

Charges Type

# Particulars General Senior Citizen Sup. Senior Citizen
1 91 Days to 180 Days 4 % 4 % 4 %
2 181 Days to 365 Days 5.25 % 5.25 % 5.25 %
3 13 Months to 24 Months 6.80 % 7.00 % 7.30 %
4 24 Months to 36 Months 7.00 % 7.25 % 7.50 %
5 36 Months to 5 Years 6.50 % 6.75 % 7.00 %