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Banking activities include accepting deposits from individuals and lending these collected funds as loans to various members.
Various types of deposits received like Saving Bank, Fixed Deposits, Daily Deposits, Recurring Deposits, Special Cumulative Deposit schemes etc.
Various types of Short Term, Medium Term and Long Term Loans like STOL, MTOL, BOD, Housing Loan and KCC loans for Agricultural issuing to Members. Loan interest rates range from 5.9% to 11.90%.
Our safe deposit locker service offers a highly secure storage space that you can avail from the bank free of cost. It's like owning a private, secure box within an ultra-safe vault.
Monthly Savings Schemes (MSS) are innovative financial products designed to encourage collective saving and borrowing among members of a group, often leading to better interest rates and loan terms compared to individual accounts.
| Maturity Period | Gen. Public (p.a.) | Sr. Citizens (p.a.) |
|---|---|---|
| 15 days to 45 days | 5.75% | 6.25% |
| 46 days to 90 days | 6.25% | 6.75% |
| 91 days to 179 days | 6.75% | 7.25% |
| 180 days to 364 days | 7.25% | 7.75% |
| 1 Year to 60 months | 8.00% | 8.50% |
| --- | -- | -- |
| Recurring Deposit | ||
| 1 Year | 6.75 % | |
| 2 years to 8 years | 6.50 % | |
| Savings Deposit | 4.0 % | |
In the Thrissur Medical College hospital campus at Mulankunnathukavu, a 24-hour Neethi Medical store operates, offering medicines at discounts ranging from 10% to 50%.
One Fertilizer store working in Varadiam for Issuing Fertilizer to Agricultural Farmers on discounted rate.
Providing AC Seminar Halls and Two AC auditorium on discounted rate to members.
As part of its social commitment to the community, Varadium Bank offers ambulance services to all patients at an economical rate.
Fairs like Vishu, Onam X mas and njattuvela fairs conducting and organizing exhibitions, Seminars and cultural programs for welfare of members
As a demonstration of its social responsibility to the community, Varadium Bank provides mobile body freezer services to everyone at an affordable price