Evidence record
Last verified 17 Sep 2026 · Next review 11 Oct 2026
Institution
- Name
- Shiv Sahyadri Patpedhi Ltd.
Institution's own website · Daily Deposit · Retrieved
- Type
- credit co-operative society
Institution's own website · Daily Deposit · Retrieved
Patpedhi is the Marathi term for a credit co-operative society, and is in the name.
- State
- MaharashtraPartially verified
Institution's own website · Daily Deposit · Retrieved
- Website
Institution's own website · Daily Deposit · 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 representative collects the deposit at the doorstep on a daily basis.
- Scheme name used
- Daily Deposit
Institution's own website · Daily Deposit · Retrieved
- Published rate
Partially verified6 to 11 months 2.50% 12 months 5.00% Institution's own website · Daily Deposit · Retrieved · Effective date not stated
The page lists a 6 to 11 month rate while also stating a minimum of one year.
- Interest method
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit · Checked
- Minimum deposit
- ₹20 or multiples
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
- Maximum deposit
- Not publicly stated on the reviewed source
Institution's own website · Daily Deposit · Checked
- Tenure
- Minimum 1 year; a 6 to 11 month tier carries a lower rate
Institution's own website · Daily Deposit · Retrieved · Effective date not stated
Pigmity previously observed, on 11 Sep 2026: Minimum 1 year
- Early closure
- Withdrawable at the depositor's convenience; penalty terms not stated
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 at the depositor's doorstep, daily.
- Loan against the deposit
- Up to 75% of the balance
Institution's own website · Daily 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 Shiv Sahyadri Patpedhi 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
Shiv Sahyadri Patpedhi Ltd. runs the most completely published daily-deposit scheme of any society in Pigmity's directory. Its page states a rate at two tiers, a minimum of ₹20 or multiples, an agent collecting daily at the door, a loan of up to 75% of the balance, and withdrawal at the depositor's convenience. What it does not state is how interest is calculated, and what leaving early actually costs.
What a patpedhi is, and what it is not
A patpedhi is a credit co-operative society, the Maharashtra form of the institutions our Maharashtra page describes as running most of the state's collection. The passbook, the daily visit and the receipt look exactly like a bank's.
The difference is not visible at the door. DICGC insures deposits at insured banks, and states plainly that primary cooperative societies are not insured by it. This society does not appear in the register of insured banks we reviewed, so the ₹5,00,000 floor that applies at a co-operative bank does not apply here. That single fact is worth more to a depositor than any rate on the page.
The rate, and the tier that sits oddly
The page states 5% a year at twelve months, and 2.5% for a holding of six to eleven months, while also stating a minimum term of one year. Both appear on the same page, and we record both rather than resolving the tension for the reader.
At 5%, this is among the higher published rates in the directory, and our rate guide shows where it sits against banks paying 1% to 3% on the same kind of collected product. The pattern across the directory is that the highest published rates come from institutions outside deposit insurance. We record the pattern; we do not claim to know why each institution prices as it does.
Leaving, and borrowing instead
"Withdrawable at the depositor's convenience" is a friendly sentence with a gap in it: no penalty terms are stated, so the cost of leaving early cannot be worked out from the page. Our comparison of early-closure terms shows why that matters — across the directory, published exit terms range from losing all interest to losing 5% of the deposit itself.
The loan of up to 75% of the balance is the alternative to closing, and it is a separate transaction with its own interest rate, which the page does not state either. Ask for both figures in writing before the first collection, which is what our opening checklist is for.
Questions
- What does Shiv Sahyadri Patpedhi pay on daily deposits?
- Its page states 5% a year at twelve months and 2.5% for a six to eleven month holding, from a minimum of ₹20 or multiples, with an authorised agent collecting daily at the depositor's doorstep. It does not state how the interest is calculated or credited.
- Can money be taken out before the term?
- The page says the deposit is withdrawable at the depositor's convenience but states no penalty terms, so the cost of leaving early is unknown from what is published. It also offers a loan of up to 75% of the balance, which is a different transaction with its own interest.
- Is a patpedhi covered by deposit insurance?
- No. DICGC insures deposits at insured banks, and states that primary cooperative societies are not insured by it. A patpedhi is a credit co-operative society, and this one does not appear in the register of insured banks we reviewed.