Evidence record
Last verified 11 Sep 2026 · Next review 11 Oct 2026
Institution
- Name
- Shivdaulat Sahakari Bank Ltd.
Institution's own website · Pigmy Deposit · Retrieved
- Type
- co-operative bank, category not stated
Institution's own website · Pigmy Deposit · Retrieved
The name states a co-operative bank; the page does not state whether it is an urban co-operative bank.
- State
- Maharashtra
Regulator · List of Insured Banks · Retrieved
- District
- Satara
Institution's own website · Pigmy Deposit · Retrieved
- City
- Malharpeth
Institution's own website · Pigmy Deposit · 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 “Shivdaulat Sahakari 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 bank staff visit the depositor's place of business to collect.
- Scheme name used
- Vishwasanchay Yojana (Pigmy)
Institution's own website · Pigmy Deposit · Retrieved
- Published rate
- 4.00% (Balance held at least 3 continuous months)
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
- Interest method
- Calculated daily
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
- Minimum deposit
- ₹50 to open
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
- Tenure
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Early closure
- Not publicly stated on the reviewed source
Institution's own website · Pigmy Deposit · Checked
- Collection away from the branch
- Stated: collected by an agent or staff member
Institution's own website · Pigmy Deposit · Retrieved · Effective date not stated
Collection by the bank's own staff at the place of business.
- Loan against the deposit
- Up to 80% of the deposited amount
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 Shivdaulat Sahakari 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
Shivdaulat Sahakari Bank Ltd, of Malharpeth in Patan taluka, Satara district, publishes a single rate for its pigmy scheme, the Vishwasanchay Yojana: 4% a year, calculated daily, on a balance that stays in the account for three continuous months. An account opens with ₹50.
Who collects
The bank describes its own staff visiting the depositor's place of business to collect, rather than a commission agent. The difference matters. When an employee collects, the bank carries the conduct risk directly; when a commission agent collects, the appointment and surety arrangements are what stand between a depositor and a loss.
Documentation is a photograph, proof of business such as a shop licence, address proof and a PAN copy. Existing account holders need nothing further.
Reading the 4%
A published pigmy rate cannot be compared until three things are known: the rate, the condition attached to it, and what the same bank pays on a term deposit over the same period. The first two are on this page; the third is a question for the counter.
The page states no term and no early-closure rule, and both change what the 4% is worth.
Where it sits
The bank's name identifies it as a co-operative bank. The page does not say whether it is an urban co-operative bank, so our evidence record says so rather than assuming. It is listed in the DICGC insured-bank register updated on 8 September 2026.
Questions
- What rate does Shivdaulat Sahakari Bank pay on its pigmy scheme?
- Its page, read on 10 September 2026, states 4% a year calculated daily, provided the balance stays in the account for three continuous months. A rate is only comparable once you know the condition attached to it, so read the condition before the figure.
- Can I borrow against the balance?
- The bank states that advances of up to 80% of the deposited amount are available. Loans against the balance also appear in the published terms of other institutions in our directory, at 75% of the balance. It can be the real reason a saver keeps the account, since it gives access to credit without closing it.