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:

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.


10. Ahmedabad Mercantile Co-operative Bank

AMCO Bank Logo
Minimum balanceFounderFoundedHeadquarters
1000 RsShri Mohanbhai C. Patel1966Ahmadabad

Loan Rates

Home LoanCar LoanEducation LoanBusiness 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.


9. Maharashtra State Cooperative Bank

Minimum balanceFounderFoundedHeadquarters
1000 RsDhananjayrao Gadgil
&
Mr. R. G. Saraiya
1939Mumbai
Home LoanCar LoanEducation LoanBusiness 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.


8. Janata Sahakari Co-operative Bank

Minimum balanceFounderFoundedHeadquarters
3000 RsShri Moropant Pingle1949Pune

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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.


7. NKGSB Co-operative Bank

Minimum balanceFounderFoundedHeadquarters
1000 RsJ.K. Parulkar1917Mumbai

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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.


6. Abhyudaya Cooperative Bank Ltd

Abhyudaya cooperative bank
Minimum balanceFounderFoundedHeadquarters
500 Rs1967Mumbai

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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.


5. Cosmos Co-operative Bank

Minimum balanceFounderFoundedHeadquarters
1000 RsN.C. Kelkar1906Pune

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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.


4. The West Bengal State Cooperative Bank

The West Bengal State Cooperative Bank
Minimum balanceFounderFoundedHeadquarters
750 RsGovernment of West Bengal1918Kolkata

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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.


3. Saraswat Co-operative Bank

Minimum balanceFounderFoundedHeadquarters
5000 RsSheth Shantaram
Mangesh Kulkarni
1917Mumbai

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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)


2. The Andhra Pradesh State Cooperative Bank

Minimum balanceFounderFoundedHeadquarters
1000 Rs1963Vijayawada

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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.


1. The Shamrao Vithal Cooperative Bank

The Shamrao Vithal Cooperative Bank Logo
Minimum balanceFounderFoundedHeadquarters
nil^1906Mumbai
^ only applicable on the  Star Savings Account

Loans Rates

Home LoanCar LoanEducation LoanBusiness 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.

FAQ:

Ans- If in a hurry then you can check out any between Saraswat Co-operative Bank and Cosmos Co-operative Bank quickly.

Ans- No one can be said as best but it's customer's preference what they chose however we have 3 choices for you if you live in Bangalore.

Not directly located there but in your state Karnataka. Let me make a list for you-

  • NKGSB Co-operative Bank
  • Abhyudaya Co-operative Bank
  • Saraswat Co-operative Bank

Ans- There are around that exists in Maharashtra are discussed inside this article.

  • Maharashtra State Cooperative Bank
  • NKGSB Co-operative Bank
  • Abhyudaya Cooperative Bank Ltd
  • Saraswat Co-operative Bank

 

But there are more 73 banks that are just in case you know it as extra -

Abhyudaya Co-operative Bank Ltd Nagar Urban Co-operative Bank Ltd
Ahmednagar District Central Co-operative Bank Ltd Nagpur District Central Co-operative Bank Ltd.
Akola District Central Co-operative Bank Ltd. Nagpur Nagrik Sahakari Bank Ltd
Amravati District Central Co-operative Bank Ltd. Nanded District Central Co-operative Bank Ltd.
Apna Sahakari Bank Ltd. Nasik District Central Co-operative Bank Ltd.
Aurangabad District Central Co-operative Bank Ltd. Nasik Merchant’s Co-operative Bank Ltd
Bassein Catholic Co-operative Bank Ltd New India Co-operative Bank Ltd
Beed District Central Co-operative Bank Ltd. NKGSB Co-operative Bank Ltd
Bhandara District Central Co-operative Bank Ltd. Osmanabad District Central Co-operative Bank Ltd.
Bharat Co-operative Bank (Mumbai) Ltd Parbhani District Central Co-operative Bank Ltd.
Bharati Sahakari Bank Limited. Pravara Sahakari Bank Ltd
Bombay Mercantile Co-operative Bank Limited Pune District Central Cooperative Bank Ltd.
Buldhana District Central Co-operative Bank Ltd. Punjab & Maharashtra Co-operative Bank Ltd
Chandrapur District Central Co-operative Bank Ltd. Raigad District Central Co-operative Bank Ltd.
Citizen Credit Co-operative Bank Ltd Rajarambapu Sahakari Bank Ltd.
Cosmos Co-operative Bank Ltd Ratnagiri District Central Co-operative Bank Ltd.
Dhulia District Central Co-operative Bank Ltd. Rupee Co-operative Bank Ltd
Dombivli Nagari Sahakari Bank Ltd. Sangli District Central Co-operative Bank Ltd.
G. P. Parsik Janata Sahakari Bank Ltd Sangli Urban Co-operative Bank Ltd
Gadchiroli District Central Co-operative Bank Ltd. Saraswat Co-operative Bank Ltd.
Gondia District Central Co-operative Bank Ltd. Satara District Central Co-operative Bank Ltd.
Greater Bombay Co-operative Bank Limited Shamrao Vithal Co-operative Bank Ltd.
GS Mahanagar Co-operative Bank Ltd Shikshak Sahakari Bank Ltd
Jalana District Central Co-operative Bank Ltd. Sholapur District Central Co-operative Bank Ltd.
Jalgaon District Central Co-operative Bank Ltd. Sindhudurg District Central Co-operative Bank Ltd.
Jalgaon Janata Sahakari Bank Ltd Solapur Janata Sahakari Bank Ltd.
Jalgaon People’s Co-operative Bank Ltd. Thane Bharat Sahakari Bank Ltd
Janakalyan Sahakari Bank Ltd. Thane District Central Co-operative Bank Ltd.
Janalaxmi Co-operative Bank Ltd. The Akola Janata Commercial Co-operative Bank Ltd
Janata Sahakari Bank Ltd The Akola Urban Co-operative Bank Ltd
Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd The Khamgaon Urban Co-operative Bank Ltd
Kalyan Janata Sahakari Bank Ltd TJSB Sahakari Bank
Kapol Co-operative Bank Ltd Vasai Vikas Sahakari Bank Ltd
Karad Urban Co-operative Bank Ltd Wardha District Central Co-operative Bank Ltd.
Kolhapur District Central Co-operative Bank Ltd. Yavatmal District Central Co-operative Bank Ltd
Latur District Central Co-operative Bank Ltd. Zoroastrian Co-operative Bank Ltd
Mumbai District Central Co-operative Bank Ltd.

Ans- First listing the banks that have been discussed inside this article -

  • Maharashtra State Cooperative Bank
  • NKGSB Co-operative Bank
  • Abhyudaya Cooperative Bank Ltd
  • Saraswat Co-operative Bank
  • The Shamrao Vithal Cooperative Bank

 

Other than that there are some other banks too that exist in Mumbai -

Apna Sahakari Bank Ltd. Kalyan Janata Sahakari Bank Ltd.
Bharat Co-operative Bank (Mumbai) Ltd Kapol Co-operative Bank Ltd.
Bombay Mercantile Co-operative Bank Limited Mumbai District Central Co-operative Bank Ltd.
Citizen Credit Co-operative Bank Ltd. New India Co-operative Bank Ltd.
G. P. Parsik Janata Sahakari Bank Ltd. New India Co-operative Bank Ltd.
Greater Bombay Co-operative Bank Limited NKGSB Co-operative Bank Ltd.
GS Mahanagar Co-operative Bank Ltd. Punjab & Maharashtra Co-operative Bank Ltd.
Janakalyan Sahakari Bank Ltd. Zoroastrian Co-operative Bank Ltd.
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Aritra

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