Shri Mahalaxmi Co-operative Bank Ltd was established on 12th October 1930 at Bijapur under the founder of Late Shri Shrinivasrao Swamirao Deshpande. The bank obtained License from the Reserve Bank of India on 14th December 1987 vide License No.UBD.KA 944 P. The Bank celebrated its Golden Jubilee on 09th November 1987 and Platinum Jubilee on 13th December 2009.
In order to provide better customer service, the Bank was fully computerized from April 2010 and Core Banking Solution (CBS) was enabled from April 2016. The bank also provides NEFT/RTGS for quick fund transfer and also CTS clearing facilities to its members and customers. The Bank will continue to offer the best possible customer service.
Read moreShri Mahalaxmi Co-operative Bank Ltd., is registered with DICGC (https://www.dicgc.org.in/)
(DICGC Website)
Earns a nominal interest of 3.50% per annum on daily balance basis and such interest in credited to the account at the end of Sept and March of every year.
Individuals in their own name or in joint names, firms, corporate, Associations, Trust, Co-operative societies can open this type of account.
LOANS | INTEREST RATE |
Housing Loans | 09.25% |
Vehicle Loans | 10.00% |
Education Loans | 10.00% |
Gold Loans | 09.75% |
Collateral Loans | 12.00% |
Cash Credit / Business Loans | 10.50% |
Personal Loans | 15.00% |
NSC / LIC Policy Loans | 14.00% |
Period | INTEREST RATE (w.e.f 1st July 2023) | |
General Public | Senior Citizens | |
31 days to 45 days | 4.00 | 4.00 |
46 days to 90 days | 4.50 | 4.50 |
91 days to 181 days | 5.50 | 5.50 |
182 days to 11 Months | 6.25 | 6.25 |
12 Months to 24 Months | 7.00 | 7.50 |
25 Above Months | 7.75 | 8.25 |
For senior citizen 0.50% extra for above 1 year. Deposits are insured up to Rs. 5 Lakhs.