Evidence record
Last verified 11 Sep 2026 · Next review 11 Oct 2026
Institution
- Name
- Andhra Pradesh Mahesh Cooperative Urban Bank Ltd
Institution's own website · Deposit Schemes · Retrieved
- Type
- urban co-operative bank
Institution's own website · Deposit Schemes · Retrieved
Stated in the legal name.
- State
- Telangana
Regulator · List of Insured Banks · Retrieved
- City
- Hyderabad
Regulator · List of Insured Banks · Retrieved
- Website
Institution's own website · Deposit Schemes · Retrieved
Regulatory listing
- DICGC insured-bank register
- Listed as an insured bank
Regulator · List of Insured Banks · Retrieved · Source dated
Listed as “Andhra Pradesh Mahesh Co-Op. Urban Bank” in the register updated as on 8 Sep 2026.
This is the Deposit Insurance and Credit Guarantee Corporation's own list, read on the date shown. A listing is a fact about the register on that date, not an assessment of the institution. The register covers banks only, so a credit society or Nidhi company will not appear on it.
Daily-deposit product
Filed under Pigmy / daily deposit; mapping exact. The page states amounts can be credited into the account through an authorised agent.
- Scheme name used
- Mahesh Daily Deposit Scheme
Institution's own website · Deposit Schemes · Retrieved
- Published rate
Under 12 months Nil 12 to 25 months 2.50% Above 25 months 3.50% Institution's own website · Deposit Schemes · Retrieved · Effective date not stated
- Interest method
- Not publicly stated on the reviewed source
Institution's own website · Deposit Schemes · Checked
- Minimum deposit
- ₹50 a day
Institution's own website · Deposit Schemes · Retrieved · Effective date not stated
- Tenure
- 12 to 36 months
Institution's own website · Deposit Schemes · Retrieved · Effective date not stated
- Early closure
- Not publicly stated on the reviewed source
Institution's own website · Deposit Schemes · Checked
The rate schedule states nil interest under 12 months; no separate closure terms were recorded.
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Deposit Schemes · Retrieved · Effective date not stated
States collection through an authorised agent; the word doorstep is not used.
Check for yourself before acting
- Ask the institution for the current rate in writing. Published rates change without notice.
- Ask what you would receive if the account is closed early.
- Ask how interest is calculated and when it is credited.
- Check the DICGC insured-bank list yourself on the day you decide.
Pigmity is independent and is not affiliated with Andhra Pradesh Mahesh Cooperative Urban Bank Ltd. This is not the institution's page, not an official register, and not a recommendation.
Each fact shows its source, the date Pigmity read it, and whether the source states an effective date. “Not publicly stated” means the reviewed source was read and does not give the fact. “Not established” means Pigmity has not established it. Neither means no.
Spotted an error? Write to hello@pigmity.com with the institution and what is wrong, and a link to where the correct figure is published if you have one. The report form is closed for now, so nothing is collected through this page.
Pigmity's analysis
Andhra Pradesh Mahesh Cooperative Urban Bank publishes its daily-deposit rate schedule, and the schedule includes the line that matters most to a new saver: nil interest on an account closed inside 12 months.
The Mahesh Daily Deposit Scheme pays 2.50% a year from 12 to 25 months and 3.50% above 25 months. It takes a minimum of ₹50 a day and runs from 12 to 36 months.
Why the nil line matters more than the top rate
A daily deposit is sold on discipline, and that first line enforces it. Someone who pays in for eleven months and then closes the account earns no interest on what they paid.
Reading that on the bank's own page, before opening, is worth more than the headline figure. 6 of the 18 institutions in our directory publish no rate for the collected product on the pages we reviewed, so a complete schedule is information many savers never see. Our guide to pigmy rates argues that the rate you will actually reach, given how long you will keep paying, is the number to look at.
Where it sits
Despite the name, the bank is headquartered in Hyderabad and operates in Telangana. Its legal name identifies it as an urban co-operative bank, and it is listed in the DICGC insured-bank register updated on 8 September 2026.
The scheme is also evidence about how far daily collection reaches: the mechanism runs here under a different name from the pigmy of Karnataka and Maharashtra. See Telangana.
Questions
- What does AP Mahesh Bank pay on a daily deposit?
- It publishes three rates by term. An account closed inside 12 months earns nil. From 12 to 25 months the rate is 2.50% a year, and above 25 months it is 3.50%. The scheme runs from 12 to 36 months with a minimum of ₹50 a day. These are the rates on the page read on 10 September 2026; confirm the current figures with the bank.
- Who collects the money?
- The scheme page states that amounts can be credited into the account through an authorised agent. It does not use the word doorstep, so whether the agent comes to you is a question to put to the branch.