10 popular & largest Co-operative banks in India

Without knowing the meaning of co-operative banks it is really difficult to understand what is stated in this article, so first I am discussing what it is then stating the largest co-operative banks in a tabular form.

How we have chosen to rank them ?

All the co-operative banks are best in class in their services. But of we need to compare them we need a concreate data to separate and rank them accordingly so here have considered their no of Branches and ATM’s.

What is a Co-operative bank in India?

In simple words, a cooperative bank is a financially joined corporation build by some interested people who are owners and customers at the same time with the aim of providing loans to the weaker sections of the society.

Why people chose Co-operative banks ?

It’s simple because of the interest rates and the highest rate of approval among middle and lower middle class people. It’s easily accessible also it empowers our country’s small and middle-sized business.

Also Read:

• Top 10 best government banks to chose
• Top 10 lovable best private banks in India
• The massive list of all banks long and short form.

Now Let’s come into the best and largest cooperative banks in India that you should try:-

Top largest Co-operative Banks in India

Rank	Top 5 Co-operative Banks	Established	Branch	ATM
1.	The Shamrao Vithal Cooperative Bank		535	207
2.	The Andhra Pradesh State Cooperative Bank Limited		446	18
3.	Saraswat Co-operative Bank		445	266
4.	The West Bengal State Cooperative Bank		345	36
5.	Cosmos Co-operative Bank		142	2.49L
6.	Abhyudaya Cooperative Bank Ltd		111	2.2L
7.	Nkgsb Co-operative Bank		104	77K
8.	Janata Sahakari Co-operative Bank		73	66
9.	Maharashtra State Cooperative Bank		61	17
10.	Ahmedabad Mercantile Co-operative Bank		35	13

Now let’s discuss some details on these cooperative banks.

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10. Ahmedabad Mercantile Co-operative Bank

Minimum balance	Founder	Founded	Headquarters
1000 Rs	Shri Mohanbhai C. Patel	1966	Ahmadabad

Loan Rates

Home Loan	Car Loan	Education Loan	Business Loan
7.25%	7.25%	8.75%	–

Bank’s history and miscellaneous

Co-operative banks were introduced and was adapted because of their socio – economic development impact on the society and it’s objective is also same.

They have Net NPA of 0% as on 31.03.2021 claimed by the bank. 1 Branch at Relief Road, Ahmedabad(Gujarat) under the leadership of Shri Mohanbhai C. Patel it started.

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9. Maharashtra State Cooperative Bank

Minimum balance	Founder	Founded	Headquarters
1000 Rs	Dhananjayrao Gadgil & Mr. R. G. Saraiya	1939	Mumbai

Home Loan	Car Loan	Education Loan	Business Loan
12.50%	9.00%	12.50%	–

Bank’s history and miscellaneous

The bank was originally registered on 1911, later was renamed as The Bombay Provincial Co-operative Bank. The bank initially supported the ancillary industries, secondary and tertiary industries.

And now have around 31 DCC Banks in the State, out of which 30 Districts Central Co-operative Banks in the state helping to meet the financial needs of agriculture sector.

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8. Janata Sahakari Co-operative Bank

Minimum balance	Founder	Founded	Headquarters
3000 Rs	Shri Moropant Pingle	1949	Pune

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
11.75%	8.75%	–	–

Bank’s history and miscellaneous

This bank was started in Pune city and their mission was to help the economically weaker sections of the society. They added Core Banking Technology in the year 2005.

In 1961, Pune suffered from a serious flood, the bank supported the victims financially. So there’s no doubt that they have stranded upon on what they had mission.

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7. NKGSB Co-operative Bank

Minimum balance	Founder	Founded	Headquarters
1000 Rs	J.K. Parulkar	1917	Mumbai

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
7%	6.99%	8.25%	–

Bank’s history and miscellaneous

Interestingly, out of 104 branches of this banks, 47 branches are from Mumbai only. The bank now supports the core-banking technology. Also it is now a Multi-state bank currently.

The bank is spread over 6 states (Mumbai, Maharashtra, Goa, Karnataka, Gujarat, Madhaya Pradesh). Also the bank mentions, their team of board directors have a diverse experience in banking, law, finance & Human Resources.

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6. Abhyudaya Cooperative Bank Ltd

Minimum balance	Founder	Founded	Headquarters
500 Rs	–	1967	Mumbai

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
6.90%	8%	10.50%	11%

Bank’s history and miscellaneous

Social workers and labour movement activists started this bank to support economically weaker sections of the society. Within no time, Abhyudaya Co-operative. Credit Society converted to Urban Co-operative.

It currently operates over Maharashtra, Gujarat and Karnataka only at the moment. Also to note they have around 17.30 lakh Depositors as on 31st March 2020. Please note they have a network of 2.22 Lakh ATMs.

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5. Cosmos Co-operative Bank

Minimum balance	Founder	Founded	Headquarters
1000 Rs	N.C. Kelkar	1906	Pune

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
7.25%	7.75%	8.00%	8%

Bank’s history and miscellaneous

This bank is the first Multi-state Co-operative Bank and implemented Centralized banking system. Also the bank has been declared winner by ASSOCHAM under the “Digital Services with the cooperative Bank Category”.

The bank has its branches spread-ed evenly over 7 states accounted to server around 20 lakh customers. As on 31st March 2021, Cosmos is the 2nd largest Cosmos bank in the country. They also mentioned that as of the current date, they have around 2728 staffs.

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4. The West Bengal State Cooperative Bank

Minimum balance	Founder	Founded	Headquarters
750 Rs	Government of West Bengal	1918	Kolkata

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
8.05%	9.00%	12%	–

Bank’s history and miscellaneous

This bank’s history is related with the distress that caused to the farmers, wounds of partition of India and the reorganization of the states after Indian Independence. In the year 1918, the bank was first registered with the name “Bengal Provincial Cooperative Federation Ltd.“

After the independence, the bank name changed to The West Bengal Provincial Cooperative Bank Ltd.

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3. Saraswat Co-operative Bank

Minimum balance	Founder	Founded	Headquarters
5000 Rs	Sheth Shantaram Mangesh Kulkarni	1917	Mumbai

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
7.00%	9.50%	8.50%	10.50%

Bank’s history and miscellaneous

The bank is too ancient than we might think of, it witnessed the end of world war 1, the full course of the second world war and India’s freedom struggle and independence.

The bank is not only the oldest but also the largest Urban Co-operative Bank spread over 6 states(Maharashtra, Goa, Gujarat, Delhi, Madhya Pradesh and Karnataka)

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2. The Andhra Pradesh State Cooperative Bank

Minimum balance	Founder	Founded	Headquarters
1000 Rs	–	1963	Vijayawada

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
10.00%	9.20%	11.50%	–

Bank’s history and miscellaneous

This bank was formed when the Andhra State Co-operative Bank and Hyderabad Co-operative Apex Bank both united.

Their main presence revolves around the Andhra Pradesh operating over 16 branches.

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1. The Shamrao Vithal Cooperative Bank

Minimum balance	Founder	Founded	Headquarters
nil^	–	1906	Mumbai

Loans Rates

Home Loan	Car Loan	Education Loan	Business Loan
9.05%	8.90%	11.80%	–

Bank’s history and miscellaneous

During the starting of 19th century when people started to recognized the cooperative banks they started their journey from there.

Their mission was to uplift the economic situations of the less fortunate members of the community and also encourage them to save.

Still confused with the minimum balance requirement check out their site.

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