Evidence record
Last verified 11 Sep 2026 · Next review 11 Oct 2026
Institution
- Name
- Sangli Urban Co-operative Bank Ltd.
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved
- Type
- urban co-operative bank
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved
Stated in the legal name.
- State
- Maharashtra
Regulator · List of Insured Banks · Retrieved
- City
- Sangli
Regulator · List of Insured Banks · Retrieved
- Website
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved
Regulatory listing
- DICGC insured-bank register
- Listed as an insured bank
Regulator · List of Insured Banks · Retrieved · Source dated
Listed as “Sangli Urban Co-Operative Bank Ltd.” 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 probable. The label includes 'Pigmy'; the scheme page does not describe how deposits are collected.
- Scheme name used
- Bachat Nidhi (Pigmy)
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved
- Published rate
- Not publicly stated on the reviewed source
Institution's own website · Deposit Interest Rates · Checked
Not listed on the scheme page or on the rate card effective 1 Sep 2026.
- Interest method
- Simple interest
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved · Effective date not stated
- Minimum deposit
- ₹25
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved · Effective date not stated
- Tenure
- 1 year
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved · Effective date not stated
- Early closure
- Early withdrawal allowed; terms not stated
Institution's own website · Bachat Nidhi (Pigmy) · Retrieved · Effective date not stated
- Collection away from the branch
- Not publicly stated on the reviewed source
Institution's own website · Bachat Nidhi (Pigmy) · Checked
- Loan against the deposit
- Pledging allowed
Institution's own website · Bachat Nidhi (Pigmy) · 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 Sangli Urban 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.
Pigmity's analysis
Sangli Urban Co-operative Bank offers Bachat Nidhi as its pigmy product: a minimum of ₹25, a term of one year, simple interest, with pledging and early withdrawal both permitted. What it pays is not published on either page we read.
A complete rate card with one gap
The rate card, effective 1 September 2026, is thorough. Fixed deposits run from 3.25% to 6.75% for general depositors and from 4.00% to 7.50% for senior citizens, depending on term and whether interest is cumulative. Savings accounts pay 2.50% against a ₹1,000 minimum balance. Bachat Nidhi has no line on it.
6 of the 18 institutions in our directory publish no rate for the collected product on the pages we reviewed. We have not found an institution that explains why.
Simple interest is the other half
The scheme page does state that interest is simple. Over a one-year term with a balance that grows every day, simple interest credited at maturity gives a different number from quarterly compounding, and our maturity calculator shows the size of that difference for your own daily amount. Without the rate, neither convention can be applied, so ask for the figure in writing and confirm the method before the first collection.
Where it sits
The bank's 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.
Questions
- What rate does Sangli Urban Bank pay on Bachat Nidhi?
- Its pages do not say. The rate card, effective 1 September 2026, lists fixed-deposit rates from 3.25% to 6.75% for general depositors and up to 7.50% for senior citizens, and a savings rate of 2.50%. Neither it nor the scheme page gives a rate for Bachat Nidhi, so ask the branch for it in writing.
- Is Bachat Nidhi worth more than the savings account?
- That cannot be worked out from what the bank publishes. The savings account pays a stated 2.50% against a ₹1,000 minimum balance. Bachat Nidhi takes ₹25 and pays simple interest over one year at a rate the pages do not state. Get the Bachat Nidhi rate in writing and compare the two.