FAQs

We understand that you may have questions, therefore we have created this section to assist you.

Ans: Yes. Please see our Deposit Account Insurance page for more details.

Ans:To open an account at The Laxmi Co-Operative Bank, Solapur simply come into the bank during normal business hours, and ask for a Customer Service Representative.

Ans:All Indian residents who can legally enter into a contract can open a deposit account with us after fulfilment of usual KYC formalities. Besides individuals, clubs, societies, trusts, HUF, partnership firms, pvt. limited companies and public limited companies can also open their deposit accounts. A minor above the age of 14 may also open a Savings Bank account and can operate the account under his own signatures.

Ans. KYC stands for "Know Your Customer". As per guidelines from Reserve Bank of India, a bank should satisfy itself about the true identify, residential address, occupation, source of income etc., of the person who wishes to be bank's customer.

Ans. We have been issuing bank drafts on every city in India since the very first day of our working and it is a routine banking transaction for us. We have made arrangements with various banks for issue of DD and no customer of Laxmi Co-operative Bank ever faces inconvenience in this regard. Our customers get DDs within 10 minutes and that too, without paying any extra charges.

Ans. A person has to send DD if he doesn’t know the account number of the beneficiary, IFS code of the bank branch where the beneficiary maintains his account or if the beneficiary specifically demands payment through DD only. If you have to send money to someone within the country, you should ask from the beneficiary the following information: