Evidence record
Last verified 11 Sep 2026 · Next review 11 Oct 2026
Institution
- Name
- The South Canara District Central Co-Operative Bank Ltd.
Institution's own website · The South Canara District Central Co-Operative Bank Ltd. · Retrieved
- Type
- district central co-operative bank
Institution's own website · The South Canara District Central Co-Operative Bank Ltd. · Retrieved
Stated in the legal name.
- State
- Karnataka
Institution's own website · The South Canara District Central Co-Operative Bank Ltd. · Retrieved
- District
- Dakshina Kannada and Udupi
Institution's own website · The South Canara District Central Co-Operative Bank Ltd. · Retrieved
- Website
Institution's own website · The South Canara District Central Co-Operative Bank Ltd. · Retrieved
Regulatory listing
- DICGC insured-bank register
- Listed as an insured bank
Regulator · List of Insured Banks · Retrieved · Source dated
Listed as “South Canara Dist Central Co-Op 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 exact. The page states deposits are collected by agents appointed by the bank, daily or at another regular interval.
- Scheme name used
- Nithya Dhara Deposit
Institution's own website · Nithya Dhara Deposit · Retrieved
- Published rate
- Not publicly stated on the reviewed source
Institution's own website · Interest Rates on Deposits · Checked
Neither the scheme page nor the bank's deposit-rate page lists a rate for this scheme.
- Interest method
- On monthly products of the daily closing balance
Institution's own website · Nithya Dhara Deposit · Retrieved · Effective date not stated
- Minimum deposit
- ₹10 to open; instalments of ₹5 or multiples
Institution's own website · Nithya Dhara Deposit · Retrieved · Effective date not stated
- Tenure
- 12 to 60 months
Institution's own website · Nithya Dhara Deposit · Retrieved · Effective date not stated
- Early closure
- Not publicly stated on the reviewed source
Institution's own website · Nithya Dhara Deposit · Checked
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Nithya Dhara 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 The South Canara District Central 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
The South Canara District Central Co-Operative Bank publishes the rates on its counter deposits in detail. For Nithya Dhara, the deposit its agents collect, neither of the two pages we read gives a rate.
How the scheme works, as published
Nithya Dhara is collected by agents the bank appoints, who call on depositors daily or at another regular interval, at home or at a place of business. The account opens with ₹10, instalments are ₹5 or multiples of ₹5, and the term runs from 12 to 60 months. Adults may open singly or jointly, minors of 14 and over in their own name, and guardians on behalf of younger minors.
The rate is the gap
The scheme page describes a method rather than a rate: interest on the "monthly products" of the balance. That tells a depositor interest accrues on the running balance rather than on the final sum. It does not tell them what they will earn.
The bank's deposit-rate page, read the same day, prints fixed-deposit rates from 3.75% up to 8.00% and savings rates of 3.00% and 4.00%. It has no line for Nithya Dhara.
This bank is not alone: 6 of the 18 institutions in our directory publish no rate for the collected product on the pages we reviewed.
Before opening one
Ask for the rate in writing, and ask how it compares with the bank's own recurring deposit over the same term. At both banks where we set a daily-collection product against the same bank's term deposits, in our comparison guide, the collected product paid less. That gap is the cost of the collection.
Keep the collection memo. The bank asks depositors to make sure each payment is entered in the agent's daily collection memo and to obtain a signed receipt. Our passbook checklist covers what to look for each time.
Where it sits
SCDCC operates across Dakshina Kannada and Udupi and is a district central co-operative bank. It is listed in the DICGC insured-bank register updated on 8 September 2026. A credit society offering an identical-looking daily deposit would not be on that register, which lists banks only.
Questions
- What interest does SCDCC Bank pay on a Nithya Dhara deposit?
- The bank does not publish a rate for it on the pages we read on 10 September 2026. The scheme page describes the calculation, interest on monthly products of the balance, but not the rate. The bank's deposit-rate page lists fixed-deposit rates from 3.75% to 8.00% and savings rates of 3.00% and 4.00%, with no line for Nithya Dhara. Ask the branch for the rate in writing.
- Is SCDCC Bank on the DICGC insured-bank register?
- Yes, as South Canara Dist Central Co-Op Bank Ltd in the list updated on 8 September 2026. DICGC cover applies to insured banks up to ₹5,00,000 per depositor, principal and interest together. A listing is a fact about the register on the date it was read, so check the register yourself on the day you decide.