The Sardargunj Mercantile Co-operative Bank Ltd., Patan interest rates · November 2026
Sardargunj Mercantile Bank FD rates
All tenures, calculator and comparison →What will my FD earn at Sardargunj Mercantile Bank?
Overview
The Sardargunj Mercantile Co-operative Bank Ltd., Patan (Sardargunj Mercantile Bank) is an urban co-operative bank (UCB), headquartered in Patan (Gujarat). Its headline 1-year FD rate of 5.00% is 1.65% below the urban co-operative bank average of 6.65%, ranking #993 of 1033 banks on RateScan.in.
Rates verified from official source. Urban co-operative bank, regulated by RBI and the state Registrar of Co-operative Societies: deposits insured by DICGC up to ₹5,00,000. One of 961 co-operative banks whose rates we checked at the source in the last 7 days.
RBI record
Every RBI press release since 1 Jan 2024 that names The Sardargunj Mercantile Co-operative Bank Ltd., Patan, newest first, each linked to RBI. Checked every week; last on 11 Nov 2026.
A monetary penalty is a fine for not following an RBI rule. On its own it does not stop the bank taking or repaying deposits; RBI does that through directions, which are listed here when they apply.
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RBI fined the bank ₹1 lakh
RBI's reason: “for non-compliance with certain directions issued by RBI on ‘Co-operative Banks - Interest Rate on Deposits’”
What RBI found
“The bank had accepted certain interest-free deposits in accounts other than current account.”
RBI says: “This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.”
This record covers RBI press releases only. Other actions, such as those of a state's Registrar of Co-operative Societies, are not included.
Branches
2 branches, all in Patan
Most branches: Patan 2
From the bank's own branch list (checked 4 Nov 2026); RBI's IFSC directory lists these branches under one shared code. Check with the bank before visiting: sgmcbl.bank.in
Sardargunj Mercantile Bank rates
Every rate, tenure by tenure, and what your money grows to.
Sardargunj Mercantile Bank Fixed Deposit rate changes
Changes to Sardargunj Mercantile Bank's fixed deposit (FD) rates that RateScan.in has recorded since it started tracking them on 4 Nov 2026. Each date is when RateScan.in first recorded the new rate; the bank's own effective date is in the rate table above.
No change to Sardargunj Mercantile Bank's fixed deposit (FD) rates has been recorded since tracking started on 4 Nov 2026.
Good to know
- Deposits with The Sardargunj Mercantile Co-operative Bank Ltd., Patan are insured by DICGC up to ₹5,00,000 per depositor per bank (principal and interest combined, across all its branches). Anything above that is not insured.
- Sardargunj Mercantile Bank is an urban co-operative bank. Co-operative banks are regulated by the RBI together with the state registrar of co-operative societies; check that the bank is covered by DICGC before depositing.
- Senior citizens (60+) earn up to 0.50% p.a. more than general customers at Sardargunj Mercantile Bank, depending on the tenure.
Informational only. Always confirm the current rate on the official Sardargunj Mercantile Bank website before investing. Bank names and associated colors are used for identification purposes only. All bank names, logos, and trademarks are the property of their respective owners. RateScan.in is not affiliated with, endorsed by, or sponsored by any bank.
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