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    Frequently asked questions

    Sree Thyagaraja Co‑operative Bank Limited is a co‑operative bank based in Bengaluru that works on the principle “One for all – All for one.” It was founded to support the saving habits and credit needs of lower and middle‑income customers and to free them from private moneylenders. The bank is among the leading urban co‑operative banks in Bengaluru, with multiple branches across the city

    Yes, deposits with Sree Thyagaraja Co‑operative Bank are covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC). As per the DICGC notification referenced on the bank’s site, eligible deposits are insured up to Rs. 5 lakhs per depositor. This protection applies to principal and interest together, within the overall limit.

    The bank offers several deposit products, including Savings Bank, Current Account, Fixed Deposits, Rajatha Nidhi Deposit, Lakshmi Recurring Deposit, Pigmy Deposit, and BalaVikas Yojane. These products are designed to encourage regular savings and provide suitable options for different customer needs. Details like interest rates and terms are available on the deposit and interest‑rate pages of the bank’s website.

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    Banks deposits up to Rs 5 lakhs are covered under DICGC.

    According to section 194N of the Income Tax Act, TDS has to be deducted if a sum or aggregate of sums withdrawn in cash by a person in a particular FY exceeds:
    1. ₹20 lakh (if no ITR has been filed for all the three previous AYs), or
    2. ₹1 crore (if ITRs have been filed for all or any one of three previous AYs).

    Non-maintenance of minimum balance charges for Savings Account: Rs 100.00 + GST per month.

    Non-maintenance of minimum balance charges for Current Account: Rs 200.00 + GST per month.

    GST rate of 18% is applicable for banking services.

    TDS is applicable u/s 194A(3)(vii) of the Income Tax Act to co‑operative banks.

    Sree Thyagaraja Co-operative Bank Limited, a leading Urban Co operative Bank in India.

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