Cooperative banks provide secure savings bank accounts, higher interest fixed deposits for seniors, and low-interest gold loans for the general public.
How to enroll:
- Visit your nearest Primary Agricultural Cooperative Credit Society (PACCS), Urban Cooperative Bank (UCB), or District Central Cooperative Bank (DCCB).
- Complete the membership admission form and deposit nominal share capital (₹10 to ₹100).
Required documents:
- Applicant's Aadhaar card.
- Smart Family Ration card copy.
- 2 passport-size photographs.
- PAN Card or Form 60.
Benefits:
- Attractive fixed deposit interest rates (typically 0.5% higher for senior citizens than commercial banks).
- Priority access to interest-free agricultural crop loans and affordable jewel credit.