Why Savings Bank Accounts

Saving money provides financial security, helps achieve goals, prepares for emergencies, reduces stress, allows for future opportunities and freedom. To develop the habit of saving among customers, Repco offers savings bank accounts

Nomination facility available

Cash withdrawals are permitted upto 60 times for 6 months.

A penalty will be levied for non-maintenance of the minimum balance

Standing instructions facility is available

Cash remittance at base branch is Free (Up to Rs. 10.00 lac Per day)

Minimum balance of Rs. 100/- to be maintained in Savings Account

Passbook facility is available

Simple, Fast & Secure

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The latest passport-size photograph of the applicant would be necessary to open an account.

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Proof of residence and identity should be furnished through any of the documents, such as a passport, driving licence, identity card issued by income tax authorities or voter’s identity card for KYC compliance during membership.

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The account will be opened on submission of the duly filled-in application form along with the initial deposit amount in cash (minimum Rs. 100/-) along with a suitable introduction from a person known to the bank.

No TDS for interest earned in Savings Bank Account.

Rate of Interest

Scheme Rate of Interest w.e.f. 18-03-2024
ROI Eligibility
Repco Thanga Magal 7.75% Girl child less than 18 years
Scheme Rate of Interest w.e.f. 18-03-2024
ROI Eligibility
Repco Anbu Magan 7.75% Boy child less than 18 years
Tenure Rate of Interest w.e.f. 18-03-2024
General Senior citizen Bulk deposit (2Cr. and above)
Scheme Rate of Interest w.e.f. 25-09-2023
General Senior citizen
Repco Mahila(18 Months, Exclusively for Women - no age bar) 8.00% 8.00%
Scheme Rate of Interest w.e.f. 02-05-2023
Savings Bank 3.00%

Frequently Asked Questions

  • Ordinary A class member of the bank can deposit at Repco Bank.

    • Individuals who are competent to contract under Section 11 of the Indian Contract Act 1872.
    • Individual repatriates from Burma, Sri Lanka, Vietnam, and other countries, including their first generation, who are competent to contract under Section 11 of the Indian Contract Act 1872.
    • Any multi-state cooperative society or any cooperative society.
    • Central Government.
    • State Government.
    • The National Co-operative Development Corporation was established under the National Co-operative Development Corporation Act 1962 (26 of 1962).
    • Any other corporation owned or controlled by the government.
    • Any government companies.
    • Such class or classes or persons or associations of persons as may be permitted by the central registrar having regard to the nature and activities of a multi-state cooperative society.

    • Yes, deposits would be pre-closed with applicable interest rates for the run period minus 1%.

    • Yes, senior citizens often get higher interest rates on Fixed Deposits compared to the general category of customers.

    • The maturity date is the end date of your Fixed Deposit when you can withdraw the principal amount along with the interest earned.

    • The minimum and maximum investment tenure for a Deposit can vary from scheme to scheme, but it's usually between 30 days and 5 years.

    • Yes, only for senior citizens and there are special schemes to get monthly interest without discounted rate.

    • Based on the request of the customer, interest can be credited to the SB A/c with Repco Bank, or through a Cheque or transfer of interest through NEFT to an account held with another bank.

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    Repatriates Cooperative Finance and Development Bank Ltd. (REPCO BANK) was registered on November 19, 1969, as a Cooperative Society under the relevant provisions of the Madras Cooperative Societies Act, 1961, with jurisdiction over the State of Tamil Nadu, Andhra Pradesh, Karnataka, Kerala and the Union Territory of Puducherry.

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    ADDRESS

    Repco Towers, No : 33, North Usman Road,
    T.Nagar, Chennai - 600017

    Ph No - 044-28340715

    Email - ho@repcobank.co.in