Evidence record
Last verified 8 Oct 2026 · 2 sources in this record · Next review 8 Nov 2026
Institution
- Name
- Indrayani Co-operative Bank Ltd
Institution's own website · Daily Deposit · Retrieved
- Type
- co-operative bank, category not stated
Institution's own website · Daily Deposit · Retrieved
The page states a co-operative bank without its category.
- State
- Maharashtra
Regulator · List of Insured Banks · Retrieved
- City
- Pimpri
Regulator · List of Insured Banks · Retrieved
- Website
Institution's own website · Daily Deposit · Retrieved
Regulatory listing
- DICGC insured-bank register
- Listed as an insured bank
Regulator · List of Insured Banks · Retrieved · Source dated
Listed as “Indrayani Co-Operative Bank Ltd.” in the register updated as on 29 Sep 2026. Not on the de-registered list (12 Aug 2026) or the All Inclusive Directions list (31 Aug 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.
What the cover is worth, and the conditions attached to it, are in is my deposit protected?
Daily-deposit product
Filed under Pigmy / daily deposit; mapping exact. The page states a representative comes to the doorstep to collect a pre-fixed amount.
- Scheme name used
- Daily Deposit
Institution's own website · Daily Deposit · Retrieved
- Published rate
- 3.50% (As published)
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
Described on the page as the present rate.
- Interest method
- Daily product basis, credited quarterly
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
- Minimum deposit
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit · Checked
- Maximum deposit
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit · Checked
- Tenure
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit · Checked
- Early closure
- Premature closure permitted with penal cuts
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
The page states penal cuts apply but not their size.
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
- Loan against the deposit
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit · Checked
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 Indrayani Co-operative 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.
Mail to hello@pigmity.com is not being delivered yet, so a message sent there will not reach Pigmity. This notice will be removed once delivery has been confirmed.
Pigmity's analysis
Indrayani Co-operative Bank, in Pimpri in Maharashtra, runs a Daily Deposit in which the bank's representative comes to your door to collect a fixed amount. The bank describes it as a savings scheme for daily income earners, opened at a branch.
How the interest works
The bank publishes a present rate of 3.5%, worked out on the daily balance and credited quarterly. That is a different shape from schemes that pay nothing until maturity and then pay according to how long the account ran. Here interest is added to the account four times a year, so each passbook update should show it.
Two consequences follow. A quarterly credit is easy to check: if a quarter passes and no interest appears, ask. And because interest is worked on the daily balance, a missed collection costs you that day's interest as well as the deposit, which is one more reason to match your passbook to your receipts. Our passbook checklist shows what each entry should carry.
The page does not state a minimum amount or a term, and it describes the rate as the present one, so ask the branch for both and for the date the rate took effect. Our guide to published rates sets this figure beside others with their terms.
Closing early, tax and nomination
The bank states that premature closure is possible with penal cuts, without giving the amount, so ask for it in writing before closing. It also states that tax is deducted at source as income-tax rules require, and that a nomination facility is available; register a nominee when you open the account.
Deposit insurance
Indrayani Co-operative Bank appears on DICGC's list of insured banks. The page does not say whether it is an urban co-operative bank or another kind, so the record below shows its category as not stated. Our guide to whether your deposit is protected explains what the insurance covers.