Evidence record
Last verified 8 Oct 2026 · 3 sources in this record · Next review 8 Nov 2026
Institution
- Name
- Kerala Grameena Bank
Regulator · List of Insured Banks · Retrieved · Source dated
The register updated as on 29 Sep 2026 lists “Kerala Grameena Bank”; the bank's own profile (kgb.bank.in/about-us/profile, read 9 Oct 2026) uses the same name. No Gazette notification of the change was read.
Pigmity previously observed, on 11 Sep 2026: Kerala Gramin Bank
- Type
- regional rural bankPartially verified
Institution's own website · Daily Deposit · Retrieved
The page calls it a rural bank but does not state the legal type; Grameena is the regional rural bank naming form.
- State
- KeralaPartially verified
Institution's own website · Daily Deposit · Retrieved
Stated in the bank's name.
- 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 “Kerala Grameena Bank” in the register updated as on 29 Sep 2026 (8 Sep: “Kerala Gramin Bank”). Matched as the only Kerala regional rural bank listed, spelled as on the bank's own site. Not on the de-registered or All Inclusive Directions lists.
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 an authorised agent of the bank collects the daily deposits from the customer's doorstep.
- Scheme name used
- Daily Deposit
Institution's own website · Daily Deposit · Retrieved
- Published rate
- Not publicly stated on the reviewed source
Institution's own website · Deposit Interest Rates · Checked
The scheme page links to the bank's deposit-rate page for rates, and that page lists term, savings, tax-saver and recurring deposits but no Daily Deposit rate.
- Interest method
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit · Checked
- 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 allowed, with penalty deductions; the amount is not stated on the page
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
An authorised agent collects the daily deposit from the customer's doorstep.
- Loan against the deposit
- Available against the balance in the account at 10% a year, subject to terms
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
Pigmity previously observed, on 11 Sep 2026: Available against the balance in the account, subject to terms, at 10% interest
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 Kerala Grameena Bank. 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
Kerala Gramin Bank, the regional rural bank serving Kerala, offers a Daily Deposit that it describes as a savings scheme for daily wage earners. The bank states that an authorised agent collects the deposits from the customer's doorstep, and that the product suits people whose income comes from business or self-employment.
What the page does and does not say
The page is clear about collection, borrowing and nomination, and silent on the numbers a saver most needs. It states no minimum or maximum amount and no term. For the rate it points to the bank's general deposit-rates page, and when we read that page it gave no rate for the Daily Deposit itself, so our record shows the rate as not publicly stated. Ask the branch for the rate, the term and how interest is credited, in writing, before the first collection.
Borrowing against the balance
The bank states that a loan is available against the amount in the daily-deposit account, at 10% a year, subject to terms. A published rate for this is worth having, and it means a saver who needs money before the term ends need not close the account. Whether it is cheaper than closing depends on the gap between that 10% and what the deposit earns, which our guide to a loan against a pigmy deposit shows how to work out.
Closing early, tax and nomination
Premature closure is possible with penal cuts, the amount not stated. Tax is deducted at source as income-tax rules require, and a nomination facility is available.
Deposit insurance
Kerala Gramin Bank appears on DICGC's list of insured banks, so its deposits are covered up to the insured limit. Our guide to whether your deposit is protected explains what that covers.