Services
Banking Services& Lockers
AePS
Rural residents are accessing banking services through local AePS Touch Point operators (AOTs) for cash withdrawals. AEPS transforms rural banking access by providing a convenient and secure way for village residents to withdraw cash from their accounts through local AePS Touch Point operators. This system enables financial transactions using just an Aadhaar number and fingerprint authentication, making banking services accessible to those who may be less comfortable with traditional banking methods.
The benefits of using AEPS for rural cash withdrawals are substantial. Its presence in local shops and AOT points means villagers don’t have to travel long distances to bank branches or ATMs, saving both time and transportation costs. The biometric authentication ensures security while eliminating the need for cards, PINs, or complex documentation.
The system’s simplicity makes it particularly valuable for elderly citizens or those with limited literacy, as transactions require only fingerprint verification. Unlike traditional banking channels that might require filling forms or remembering PINs, AEPS transactions are completed through simple biometric authentication.
For AePS Touch Point operators, AEPS provides a reliable way to serve their community while earning commission income. The immediate transaction confirmation and clear records help maintain transparency and trust between AOTs and customers.
IMPS
IMPS provides robust & real time fund transfer which offers an instant, 24X7, interbank electronic fund transfer service that could be accessed on multiple channels like Mobile, Internet, Branch. IMPS is an emphatic service which allows transferring of funds instantly with any other bank branch in the country participating in the system. Members currently on IMPS.
IMPS can be done through
Timings : 24 x 7 x 365* on digital channels
| Type of Account | Limit / Transaction | Limit / Day | Charges |
|---|---|---|---|
| SAVINGS ACCOUNT | UPTO RS. 5,00,000 | UPTO RS. 10,00,000 | NIL |
| CURRENT ACCOUNT | UPTO RS. 5,00,000 | UPTO RS. 10,00,000 | NIL |
UPI
UPI or Unified Payments Interface is an immediate real-time payment system that helps in instantly transferring the funds between the two bank accounts through a mobile platform. Hence, UPI is a concept that allows multiple bank accounts to get into a single mobile application.
UPI can be done through Third Party Apps like Google Pay, PhonePe, Paytm etc.
Timings : 24 x 7 x 365
| Limit / Transaction | Limit / Day | Charges |
|---|---|---|
| UPTO RS. 1,00,000 | UPTO RS. 1,00,000 | NIL |
• Limit of Rs. 5,000 for 24 Hrs after first transaction on new registration or after changing PIN.
NEFT
National Electronic Funds Transfer (NEFT) is a nation-wide payment system facilitating one-to-one funds transfer. Under this system, individuals can electronically transfer funds from their account to any individual having an account with any other bank branch in the country participating in the system.
NEFT can be done through Internet Banking, Mobile Banking, Branch Banking.
Timings : 24 x 7 x 365* on Digital Banking Channels
| Type of Account | Limit / Transaction | Limit / Day | Charges |
|---|---|---|---|
| SAVINGS ACCOUNT | UPTO RS. 2,00,000 | UPTO RS. 5,00,000 | NIL |
| CURRENT ACCOUNT | UPTO RS. 2,00,000 | UPTO RS. 5,00,000 | NIL |
RTGS
‘RTGS’ stands for Real Time Gross Settlement, which means continuous (real-time) settlement of funds individually on an order by order basis. ‘Real Time’ means the processing of instructions at the time they are received rather than at some later time. Considering that the fund settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.
RTGS can be done through Digital Banking Channels.
Timings : 24 x 7 x 365* on Digital Banking Channels
| Type of Account | Limit / Transaction | Limit / Day | Charges |
|---|---|---|---|
| SAVINGS ACCOUNT | RS. 2,00,000 – 5,00,000 | RS. 2,00,000 – 10,00,000 | NIL |
| CURRENT ACCOUNT | RS. 2,00,000 – 5,00,000 | RS. 2,00,000 – 10,00,000 | NIL |
Safe Deposit Lockers
The Valsad District Central Co. Op. Bank Ltd offer safe deposit lockers for safety of your valuables. We offer safe deposit vault or locker at a number of branches at reasonable rent depending upon the size of locker. Kindly contact your nearest branch for this facility.
| # | Types | 1 Year Rates | 3 Years Rates |
|---|---|---|---|
| 1 | Small Size | Rs.1000/- | Rs.2400/- |
| 2 | Medium Size | Rs.1500/- | Rs.3600/- |
| 3 | Large Size | Rs.2000/- | Rs.4800/- |