This page is informational and is not legal advice. It describes rules, orders and rulings as published or reported on the dates shown; read the primary text before relying on any of it.
Evidence record
Last verified 17 Sep 2026 · Next review 11 Oct 2026
Institution
- Name
- Sahayog Multistate Credit Co-op Society Ltd.
Institution's own website · Daily Deposit Scheme · Retrieved
- Type
- credit co-operative society
Institution's own website · Daily Deposit Scheme · Retrieved
The page states it is registered under the Multi-State Co-operative Societies Act, 2002.
- State
- Maharashtra
Institution's own website · Daily Deposit Scheme · Retrieved
The state of the head office address the page gives. The society operates across more than one state.
- District
- Gondia
Institution's own website · Daily Deposit Scheme · Retrieved
The district of the head office address the page gives.
- Website
Institution's own website · Daily Deposit Scheme · Retrieved
Regulatory listing
- DICGC insured-bank register
- Not found in the reviewed register
Regulator · List of Insured Banks · Retrieved · Source dated
Not found in the insured-bank register updated as on 8 Sep 2026. The register lists banks only.
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 a Sahayog agent or Vittya Sevak collects the daily deposits at the depositor's doorstep.
- Scheme name used
- Daily Deposit Scheme
Institution's own website · Daily Deposit Scheme · Retrieved
- Published rate
- 6.00% (1 year)Partially verified
Institution's own website · Daily Deposit Scheme · Retrieved · Effective date not stated
The page states 6% a year in its answers and figures, and “up to 6%” in its introduction.
- Interest method
- Credited on maturity
Institution's own website · Daily Deposit Scheme · Retrieved · Effective date not stated
The page states interest is credited on maturity and that the monthly figure it shows is approximate.
- Minimum deposit
- ₹50 a day
Institution's own website · Daily Deposit Scheme · Retrieved · Effective date not stated
- Maximum deposit
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit Scheme · Checked
- Tenure
- Typically 1 year
Institution's own website · Daily Deposit Scheme · Retrieved · Effective date not stated
- Early closure
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit Scheme · Checked
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Daily Deposit Scheme · Retrieved · Effective date not stated
Collected at the depositor's doorstep by a Sahayog agent or Vittya Sevak.
- Loan against the deposit
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit Scheme · 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 Sahayog Multistate Credit Co-op Society 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
Sahayog Multistate Credit Co-op Society Ltd., of Gondia in Maharashtra, publishes a daily deposit scheme at 6% a year from ₹50 a day, with interest credited on maturity and collection at the depositor's doorstep by a Sahayog Agent or Vittya Sevak. It is a society, not a bank, and it does not appear in the register of insured banks we reviewed.
Multi-state, which changes the supervisor
A multi-state co-operative society operates across state lines and is registered under the Multi-State Co-operative Societies Act, 2002, answering to the Central Registrar rather than to a state Registrar. The 2023 amendment to that Act added a Co-operative Ombudsman with a three-month grievance timeline.
None of that is banking supervision, and none of it is deposit insurance. It matters most when something goes wrong: the Reserve Bank's ombudsman scheme covers banks, so a depositor here cannot use it, and the route is the one our guide on where to complain sets out for societies. The same line decides that there is no insured floor if the society fails, which this guide explains for the institutions that do have one.
What the page states, including a caveat of its own
6% a year, credited on maturity, ₹50 a day, roughly a one-year term. The page also marks its monthly illustration as approximate and says actual returns may vary slightly — a caveat more scheme pages could carry, and worth noting because most in our directory publish either a bare rate or nothing.
Set against the banks in our rate guide, 6% is well above what co-operative banks publish on collected products. As across the rest of the directory, the higher published rates sit with the institutions outside deposit insurance.
What is missing
No early-closure term, no maximum, and no loan against the balance are stated. The exit cost is therefore unknown from the page, which our comparison of early-closure terms shows is the common condition rather than the exception. For a scheme collected daily by an agent, the other question worth asking at the outset is what receipt is issued at the door, and when the credit appears against it.
Questions
- What does Sahayog Multistate pay on its daily deposit scheme?
- The page states 6% a year over about one year, with interest credited on maturity, from ₹50 a day. It also says the monthly figure it shows is approximate and that actual returns may vary slightly, which is unusual candour for a scheme page.
- Who collects the money?
- The society states that its representatives collect at the depositor's doorstep, naming a Sahayog Agent or Vittya Sevak. That is the same arrangement a bank's pigmy agent has, without the bank.
- Where does a depositor complain?
- Not to the RBI Ombudsman. That scheme covers banks, and a multi-state credit society is not one. The route runs through the Central Registrar and the Co-operative Ombudsman created by the 2023 amendment to the Multi-State Co-operative Societies Act.