Evidence record
Last verified 8 Oct 2026 · 2 sources in this record · Next review 8 Nov 2026
Institution
- Name
- Latur Urban Co-Op Bank Ltd
Regulator · List of Insured Banks · Retrieved · Source dated
- Type
- urban co-operative bank
Regulator · List of Insured Banks · Retrieved
Stated in the registered name.
- State
- Maharashtra
Regulator · List of Insured Banks · Retrieved
- City
- Latur
Regulator · List of Insured Banks · Retrieved
- Website
Institution's own website · Pigmy Deposit · Retrieved
Regulatory listing
- DICGC insured-bank register
- Listed as an insured bank
Regulator · List of Insured Banks · Retrieved · Source dated
Listed as “Latur Urban Co-Op 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 probable. Named a pigmy deposit; the collection method was not recorded from the reviewed page.
- Scheme name used
- Pigmy Deposit
Institution's own website · Pigmy Deposit · Retrieved
- Published rate
After 1 year 2.00% Up to 2 years 3.00% 3 years 5.00% Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
- Interest method
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Minimum deposit
- ₹10 a day
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
- Maximum deposit
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Tenure
- 12, 24 or 36 months, depositor's choice
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
- Early closure
- 5% deducted from the deposit if closed before six months; no penalty after six months
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
The page states withdrawal after six months without penalty.
Pigmity previously observed, on 10 Sep 2026: 5% deducted from the deposit if closed before six months
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
An authorised agent collects at the depositor's doorstep at regular intervals.
- Loan against the deposit
- Up to 85% of the balance in the pigmy account
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
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 Latur Urban Co-Op 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.
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Pigmity's analysis
Latur Urban Co-operative Bank publishes a rate that rises with how long the account stays open: 2% after one year, 3% up to two years, and 5% for three years. Deposits start at ₹10 a day, and the depositor chooses a term of 12, 24 or 36 months.
Read the early-closure term first
The bank states that 5% is deducted from the deposit if the account is closed before six months. That is a deduction from what was paid in, not only a loss of interest, so an account closed early can return less than the cash handed over.
The rate ladder and the exit penalty point the same way: the scheme rewards staying and costs leaving. That is a coherent design, provided the depositor knows it before the first collection.
Leaving without closing
Re-read on 17 September 2026, the page also states a loan of up to 85% of the pigmy balance, the highest proportion any institution in our directory publishes. It matters here more than elsewhere: this is the bank whose early-closure term takes 5% of the deposit itself before six months, so borrowing against the balance and closing it early are priced very differently. Our comparison of early-closure terms puts both beside every other institution's.
The top tier in context
The three-year rate of 5% is two and a half times the 2.00% that Canara Bank publishes on its 63-month daily deposit. The comparison only holds with the terms beside it: a three-year commitment and a 63-month one are different products, even when the same kind of collector knocks.
Where it sits
The bank is listed in the DICGC insured-bank register updated on 8 September 2026, and its registered name identifies it as an urban co-operative bank. It operates in Maharashtra; our Maharashtra page covers the state's order on pigmy agents' commission and the institutions it names.