In an otherwise well written article, the rate of interest indicated against co op banks is wrongly given as 9 to 11 %. I do not knbow of any bank offering these rates. the max rate offered is 9 % that too for senoir citizens and mostly for 3 to 5 years period ( not 2 to 3 years as mentioned ). secondly the advice that one should avoid Co op Banks is generally right, it should be with two provisos ie one --deposits upto RTs 100,000 per depositor for each Bank are covered under Deposit Insurance Scheme and secondly there are quite q few Good and Sound Co op Banks at least in Maharashtra. to name a few - Saraswat, Shamrao Vithal, Cosoms, NKGSB,Abhudaya, CKP, Greater Mumbai, Jankalyan, Thane Janata, Kalyan Janata, Suvarna Sahakari, etc
