Cosmos Co-operative Bank is among the top financial service providers in India. At present, the bank has more than 152 branches spread across seven Indian states. In fact, it became the foremost bank to initiate its very own centralised banking infrastructure in the country. This means all of its branches are linked with the head office through a data centre. 

Get an idea about the latest Cosmos Bank FD rates and start your investment journey today!  

Term Wise Cosmos Bank Fixed Deposit Rates

From the calculations given below, you can develop an idea about term-wise potential returns based on the current Cosmos Bank FD rates:

Short Term

Cosmos bank offers fixed deposits for the tenure ranging from 7 days to 12 months with interest rates 2.00% t 6.15% to general citizens and senior citizens get 2.00% to 6.85%. Here is the detailed breakdown of the interest rates from short-term FDs-  

Medium Term

Cosmos Fixed Deposit offers medium term FDs ranging from 12 months to 36 months, interest rates for this tenure ranges from 6.30% to 6.65% for general citizens and 6.85% to 7.10% for senior citizens. Here is a breakdown of interest rates offered on medium-term FDs- 

Long Term

Cosmos Bank offer 6.75% to general citizens and 7.15% to senior citizens on above 36 months to 10 years FDs.

Therefore, when you are a general depositor contributing ₹6 lakh for a period of 10 years, then you can expect to get back ₹5,53,003 as returns, amounting to a total corpus of ₹11,53,003. Likewise, a senior citizen will receive ₹6,48,171 as interest for the same investment. 

If you wish to earn greater returns through FDs, simply download the Stable Money app. Compare interest rates from banks and NBFCs offering returns up to 8.00%. 

Benefits of Cosmos Bank Fixed Deposit Rates

Here are some of the benefits offered by cosmos fixed deposit interest rates-

• Cosmos bank offers interest rate of up to 7.00% for general citizens and 7.25%  for senior citizens.
• Cosmos FD provides the benefit of quarterly compounding which allows savings to increase more quickly. 
• It also provide auto-renewal facility to ensure hassle-free reinvestment of your interest income.

Eligibility to Avail Cosmos Fixed Deposit Rates 

Here is the eligibility criteria to avail cosmos fixed deposit interest rates-

• Any Individuals single or joint
• Any Hindu Undivided Families (HUFs), Sole proprietorships, Limited companies and Partnership firms
• Minors can also open a fixed deposit under parent or legal guardian.

Benefits to Avail Cosmos Bank FD Rates

The biggest advantage of earning interest from a Cosmos Bank FD is that you can choose among monthly, quarterly, semi-annual or annual payouts, thus offering sufficient flexibility. In addition, these are some other benefits of investing in Cosmos Co-operative Bank fixed deposits:

• The period of booking an FD ranges between 7 days and 10 years, thus offering different plans for varying financial goals.
• The account opening process is entirely online which takes not more than a few minutes. 
• Investors can enjoy complete peace of mind as their money is insured by Deposit Insurance and Credit Guarantee Corporation (DICGC) for sums of up to ₹5 lakh. 
• Senior citizens get additional returns on their fixed deposit investments.
• Finally, the minimum deposit amount is too low. One can start a regular term deposit account with Cosmos Bank FD with a minimum deposit of ₹100.

Cosmos Co-operative Bank Fixed Deposit Eligibility Criteria

To be held eligible for opening an FD at Cosmos Co-operative Bank, you should meet the following criteria:

• You must be at least 18 years old.
• Other than individuals, organisations can also benefit from the high Cosmos Bank FD rates.
• Minors can also open an FD at Cosmos Bank jointly with their parents. 
• NRIs are also invited by the bank to maintain an online fixed deposit account.

Documents Required to Avail Cosmos Co-operative Bank Fixed Deposit Rates

Here are some documents required to open an FD with the Cosmos Co-operative Bank:

• Identity proof including Voter ID card, Aadhar card or other documents as specified by the bank
• Address Proof including PAN card, Aadhaar card, telephone bill or any other form of utility bill comes under this domain. 
• Passport-sized photographs. 

Premature Withdrawal of Cosmos Co-operative Bank Fixed Deposit

Customers can notice standard charges while checking the penalties for a premature withdrawal at Cosmos Bank. The Cosmos Co-operative Bank levies a fine of 1% on the interest rate fixed for the agreed-upon tenure. 

Tax on Cosmos Bank Fixed Deposit Interest

Investing in the Cosmos bank FD allows you to claim tax benefits of up to ₹1,50,000 per annum under Section 80C of the Income Tax Act. You must keep in mind that the income earned from Cosmos Bank fixed deposit interest rates is taxable depending upon your income tax slab. 

A TDS of 10% is deducted if the interest income from your FD exceeds ₹50,000 for general citizens and ₹1,00,000 for senior citizens. Moreover, if you fail to provide your PAN details to the bank, the TDS rate increases to 20%. To avoid TDS deductions, you can submit Form 15G or Form 15H to the bank, as applicable.

Cosmos Bank FD Calculator

You can calculate returns from cosmos bank fixed deposit easily using the cosmos bank FD Calculator given below. 

Why Should You Book an FD With Stable Money?

Stable Money partnered banks and NBFCs offer fixed deposit interest rates as high as 8.00%. Fixed Deposits are insured up to ₹5 lakh under the guidelines of DICGC (Deposit Insurance Credit Guarantee Corporation), a subsidiary of the Reserve Bank of India (RBI). You can book multiple FDs conveniently from anywhere and anytime.

Download Stable Money app and enjoy attractive rate of up to 8.00%.