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On 14th September 1918, "The Saraswat Co-operative Banking Society" was founded. Mr. J.K. Parulkar became its first Chairman, Mr. N.B. Thakur, the first ViceChairman, Mr. P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer. These were the people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in charge of the Society had a commendable sense of service and duty imbibed in them. Even today, our honorable founders inspire a sense of awe and respect in the Bank and amongst the shareholders. The Society was initially set up to help families in distress. Its objective was to provide temporary accommodation to its members in eventualities such as weddings of dependent members of the family, repayment of debt and expenses of medical treatment etc. The Society was converted into a fullfledged Urban Co-operative Bank in the year 1933. The Bank has the unique distinction of being a witness to History. The Bank, which was originally founded in 1918, i.e. close on the heels of the Russian Revolution, also witnessed as a Society and as Bank-the First World War, the Second World War, India's freedom Movement and the glorious chapter of postindependence India. During this cataclysmic cavalcade of history, the Bank as a financial institution and its members could not of course remain unaffected by the economic consequences of the major events. The two wars in particular brought in their wake, paucities of all kinds and realities and stand by its members in distress as a solid bulwark of strength. The Founder Members and the later-day management's of the Bank continued to demonstrate their unwavering faith in the destiny of the common man and the co-operative movement and they encouraged the shareholders to save despite all odds.
MISSION STATEMENT:"To emerge as one of the premier and most preferred banks in the country by adopting highest standards of professionalism and excellence in all the areas of working!!!"
Madhya Pradesh.a fitting and appropriate characteristic of a Bank that believed in hard work. Goa and Delhi. The Bank has grown in stature. The Bank got a permanent license to deal in foreign exchange in 1978. resources. Platinum Jubilee Celebrations were inaugurated on 14th September. In 1988 the bank was conferred with "Scheduled" status by Reserve Bank of India.1992.The name of the Bank should always inspire the Sense of Belonging in all its stakeholders and that Bank continues to fulfill the changing needs and expectations of the customer with unflinching gusto and aplomb . The bank has a network of 191 fully computerized branches covering six states viz. Gujarat. Bank also crossed the business level of Rs700 Cores The Beginning of the 21st Century has been a giant leap forward for the Bank.Bank's total business which was around Rs 4000 Crore in 2000 almost tripled to Rs 15295 Crore in 2007.3. Maharashtra. The Bank is providing 24.hour service through ATM at 67 locations. progressed in its social and economic objectives and produced an image of what an ideal bank should be.00 core marks for the first time. Presently the Bank is having correspondent relationship in 45 countries covering 9 currencies with over 125 banks. assets and profits. the Bank was fulfilling all the banking needs of its customers. a search for all that is good. The Bank is the first co-operative bank to provide Merchant Banking services.The purpose of such an exercise was to reconfirm the thrust of Bank on its core values . Bank chose a path of organic/inorganic growth and our pace of growth accelerated . During the late fifties. the Bank chose a bee motif to symbolize the Bank's emblem . the Bank's gross income crossed the Rs. the Bank grew from strength to strength.MILESTONES The Bank had gained Strong foundation in terms of its membership. By 1942. The Bank had established five branches within the city of Mumbai and one each at Pune and Belgaum. Resultantly. In its 50th year. Last two decades the Bank has witnessed a steady growth in the business.which can be summed up as "Sense of Belonging ". a team spirit to achieve its objectives and a selfless service to its members and customers. in the year 1977-78. Bank in the year 2008 launched the Branding Initiative . Profile:- . In 1992 Bank completed 75 years. Karnataka.
"Service to the Common Man" has been the motto of Saraswat Bank for the last 90 years. Maharashtra. Bank offers attractive interest rates on deposits and also various add on features at very market competitive rates. Goa. Saraswat Bank has now 191 fully computerized branches. 12 Zonal Offices and 23 departments located across 6 States viz. Saraswat Bank attributes this success to its undying spirit to serve the common man and to the sharpening of its competitive edge by constantly upgrading technology to match international standards. Saraswat bank working capital solutions are based on financial. Saraswat Bank has introduced a wide range of credit schemes at attractive interest rates. Madhya Pradesh. Saraswat Bank has now become the largest in Asia. • Term Loan : . especially among the middleclass in view of the easy repayment plans. Gujarat. Saraswat can offer you working capital finance by way of cash credit or loans suitably structured to your need and risk profile in consortium or as a lead banker. The Bank is fully computerized and offers convenient working hours. Bank in spite of its growth in size has been able to offer to the customers the dual advantage of "Ability of Big Banks and Agility of Small Banks" The Bank still continues to function with the glorious tradition in public services Besides being the largest Urban Co-operative Bank in India. which has become very popular. quantitative & qualitative evaluation of your business through there technically qualified experts. Products:Mid Corporate Products :Bank provides variety of credit facilities to its Corporate Clients as under: • • • • • • • • • Working Capital Term Loan Export Finance Import Finance Bank Guarantees Bill Discounting Letter of Credit Property Loan Rental Loans • Working Capital : Saraswat are a Bank with a team of technically qualified competent customer driven relationship managers possessing wide industry experience in various segments of Bank has taken lot of efforts to understand customers & empathizing with their needs. Karnataka and Delhi.
a. for period upto 90 days from bill date. financial. customs etc for its customers. Advance against exports on consignment basis. Advance against export bills sent on collection basis. These are generally provided for 90 to 180 days.The Bank is providing structured term loans to meet your short term as well as long term funding requirements. Excise. Negotiation /Payment /Acceptance of documents under letter of credit. bid bond. up gradation of existing facilities etc to ease the pressures on margins of the company . Our guarantees are well accepted by all government agencies including Customs.Saraswat Bank provides term finance/term loans for business expansion. Post shipment Credit facilities: Post shipment credit facility is offered to an exporter to finance export sales receivables after the date of shipment of goods till the date of realization of export proceeds. processing and packing of the goods meant for exports . • Import Finance: Bank is providing import finance to its valuable customers by providing letter of credit facility for its customers to purchase their raw materials. Purchase/ discount of export document under letter of credit. • Bank Guarantees : Bank issues various types of guarantees . tenders. • Export Finance- Pre and Post shipmen : If you are a eligible exporter Saraswat Bank offers you Pre Shipment Credit facilities and Post Shipment Credit Facilities Pre Shipment Credit facilities: Saraswat bank offer Pre-shipment credit by way of Packing Credit enabling you to finance purchase/import of raw materials.a.00%p.00% p. Saraswat bank offer our client a choice of the following services: Interest rates are linked to regular export credit facility which is 10. Insurance Companies. Interest rate is linked to regular export credit facility which is 10.performance. • Bill Discounting : . Advance against undrawn balance on exports. Saraswat bank offer specific solution so as to match repayment with your cash flows to repay the debt thereby enhancing your profitability. For period upto 90 days or production cycle period with maximum of 180 days. Shipping Companies and all major corporate.
50 Lakes per annum and in operation for last 3 years making cash profit for last 3 years.b. 60% of value as per valuation report. allowing you to establish single window contact with competent dedicated personnel at any of our branches as per your convenience. Letter of Credit • : Bank provides letter of credit facility for its customers to meet their trade purchases. a. • Limit of Loan Minimum .Maximum 5 years Cash Credit .with reducing limit (in 60 monthly installment) subject to renewal every year. Firms / companies having net annual taxable income of Rs. They are linked to the Prime Lending Rate (PLR). Our processes are simple. Apart from this we provide Import Letter of Credit for importing machinery or capital goods. Repayment Period Term Loan .(Net of tax and drawing plus depreciation) Or c) 60% of agreement cost (If the property is less than 3 years old.Rs. In other cases.).Rs. These are generally provided for 3-6 months depending upon your trade cycle.2 lakes Maximum . 10000 pm (Income of spouse may be added) Professionals. 150000/. 50 Lakes • Basis of Advance a) 25 times of net salary in case of salaried person Or b) 3 times of net cash accruals. Such Letter of Credits are for tenure ranging from 1-3 years depending upon the tenure • Property Loan: Saraswat Bank offers loan facility for acquiring another asset / property based on the following conditions: Eligibility: • • • Salaried employees with minimum net salary of Rs.c Whichever is lower Rate of Interest The property loans are rated as per the Credit Rating model followed in our Bank and a good rating can get you a better interest rate.employed and others who are income tax assesses having net annual taxable income of Rs.for at least 3 years continuously. • • . self . 1.We are offering facility which is customized to suit your requirement for short term finance from the date of sale to date of receipt of payment thereof.
5% of the loan amount. salary slip for last 3 months. 2) For salaried employee’s income proof such as Form No. Security: Equitable mortgage of the property given on rent or any other acceptable property of value of 35% more than the loan amount. companies. Debit Card is basically a convenience card which can be used at a POS for making purchases at Merchant Establishments. Processing Charges 1% of loan amount Documents Required Others: 1) I. Share Holding 2. guarantee of partners. Repayment will be from the rent received. commercial or industrial property. Guarantors as nominal members. your Bank has tied up with VISA for issuing Debit Card. VISA has a long-standing name in the banking industry in India as well as abroad. VISA Debit Card :To add to your convenience .e. directors to be obtained.Security:Equitable Mortgage of Residential. • Guarantor: Need not be obtained however in case of firms.16 along with salary certificate from employer 3) Original Title Deeds of the property offered for mortgage. Margin: 35 % Repayment Period: 5 years maximum or till the remaining period of the lease – which is earlier. international brand.00 laces or 65 % of the total net rent (i.Returns for last three years. Rate of Interest: The proposal shall be rated as per the credit rating model followed by the Bank and a good rating can get you a better interest rate. This card can also be used as an ATM card for withdrawing cash at the ATMs Debit Cards This card can be used as an ATM card for withdrawing cash at the following ATMs: . 25. Visa is a reliable. Maximum 2500 shares. 4) Other documents as per Vastu Siddhi Loan Scheme • Rental Loans: Maximum Amount of Loan: Rs. subject to valuation certificate from Bank’s approved vaguer. rent after taxes such as property tax.T. TDS) to be received whichever is lower.
5000/. bearing a Visa logo.a. f. Mobile Banking :Saraswat Bank has introduced Mobile Banking. Inward Cheque Returned Intimation. and can be used wherever the card's brand name is displayed. d. as the "Time" it is "Money".& above. Account overdrawn intimation. Visa enabled ATMs Debit Card looks similar to a credit card. Debit card can be used at Domestic as well as International ATMs and POS machines bearing the Visa logo. b. Term Deposit maturity intimation (7 days prior to maturity) c. Greetings / Promotional messages g. you enjoy the privilege and convenience of withdrawing cash at your convenience at time during day . Saraswat Bank issue ATM card to all our clients who open account with Saraswat Bank Being A Saraswat Bank ATM cardholder. New product launch message Customers can now initiate the following transactions at their end a)Account balance enquiry b)Last three transactions c)Cheque Status Inquiry ATM Services:Please do not waste your valuable "Time" for "Money". e. Debit / Credit Transaction Message for amount of Rs. Bank has started forwarding various messages to its customers on their mobile a. Saraswat Bank ATMs b. Outward Cheque Returned Intimation. BANCS ATMs c.
Tax benefits under Sec 80 C are also available.and night on all 365 days in a year. Plan takes care of retirement age. takes care of pre and post hospitalization expenses. Tax benefit under Sec 80 C available. family discount. no charges are levied. On death of the life insured the nominee gets the policy amount. It is also known as double benefit plan as on death of life insured the beneficiary (child) gets the sum assured on death of applicant as well as on maturity of the policy. Saraswat Bank offer following products: 1) Endowment Plan: This being a popular savings plan is useful for meeting all long/ short-term financial needs and also covers the risk of the applicant's life. The key features are lowest premium. Under the arrangement we offer following insurance products: 1) Health guard: This plan provides for reimbursement of Hospitalization expenses incurred for illness/ diseases or injury sustained. which provides annuity at the retirement age. For drawing cash from the ATMs of Consortium banks. HDFC Standard Life Insurance Company Limited. . The details of tie-up and products offered are given below: [A] LIFE INSURANCE : For Life Insurance products. cashless facility with network of 600 hospitals across India. Bajaj Allianz General Insurance Co Ltd. Saraswat Bank have for this purpose tied up with various insurance companies. 2) Children’s Double benefit plan: It is the most popular plan which helps you save and secure your child's future to meet expenses for education. [B] NON-LIFE INURANCE: For Non-Life Insurance we have a tie-up with M/s. Insurance :It is Saraswat Bank earnest Endeavour to offer suite of new and competitive financial products and services. 3) Term Assurance plan: It is purely life risk cover plan. Tax benefit under Sec 80 C is also available. You can draw cash from ATMs of Saraswat Bank as well as over 2461 ATMs of 20 members Banks in "BANCS" network. return on investment. This plan is a with profit pension plan suitable for everyone to help provide regular financial security to the family. inflation etc. 4) Regular Personal Pension Plan: It is plan. Saraswat Bank has entered into a tie-up with M/s. ambulance charges. Tax benefit under Sec 80 D is available. Tax benefit under Sec 80 C is available. marriage etc.
During this financial year the industry saw 900 new fund offers(equity. to increase fee based income. The major fund houses are as follows: Fund House Birla Sunlife Mutual Fund Franklin Templeton Mutual Fund HDFC Mutual Fund ICICI Prudential Mutual Fund .67. Cellular Phone Bills. debt. along with loss of passport/ baggage during overseas travel. To Ancash on this sentiment. 4) Vehicle Insurance: It insures your vehicle incase of damage or loss to the vehicle. Easy Pay:Here is one more exciting facility Saraswat Bank has offered to relieve you. increased competition and thinning of Interest margins. changes in investment pattern (rising disposable incomes created a huge potential for investment in Insurance and Mutual Funds). All you have to do is to walk into any of our branch and register yourself under: Easy Pay" scheme for all your recurring utility bill payments such as Telephone.60 Cr on April 2008. liquid and Fixed Maturity Plans included). the Indian Banking Industry had to redesign their bouquet of products and introduce marketing of third party products like Insurance and Mutual Funds. 3) Personal Accident Insurance: It covers risk of death on accident. Saraswat Bank has entered into the Mutual fund distribution business 5 years back and today we have a successful tie up with 21 fund houses with total funds invested at around Rs 100 cores.2) Travel Companion: It is an Overseas Travel Insurance that covers reimbursement of medical expenses at abroad. Saraswat Bank esteemed client. Once you are registered all your future bills will be paid automatically through your bank account with us. The Mutual Fund industry currently has 35 Fund houses with 1800 schemes spread across 30 different categories. Mutual Fund:Considering the changes in Indian demographics (more than 70%of the population below the age of 35).The AUM (Asset Under Management) of the Mutual fund industry closed at Rs 5. from spending your valuable time standing in a queue for routine utility bill payments. Insurance Premium & many more. Electricity Bills.
BANCS currently comprises of 2461 (Two thousand Four Hundred and Sixty One only) ATM's of 13 member banks including Saraswat Bank. • RTGS/NEFT • • Cash Pick Up Utility Bill Payment • Nomination of Deposits . Miscellaneous Services • Saraswat Bank provides information of its various Miscellaneous Services customers can avail of with the bank. It has achieved a remarkable success in servicing Saraswat Bank valued customers and Saraswat Bank have repeated our success in the Banking Industry to the progress made in the Depository operations. Madhya Pradesh. The country has made a remarkable growth in the capital market by switching over to electronic trading Saraswat Bank is registered as depository Participant with NSDL since 22nd February 1999. Gujarat.Fund House Kotak Mahindra Mutual Fund Principal PNB Mutual Fund Reliance Mutual Fund Tata Mutual Fund UTI Mutual Fund BANCS stands for Banks ATM Network and Customer Services BANCSBank is pleased to inform you that Saraswat Bank has joined the Saraswat 'BANCS' network consortium for ATM sharing and has started operations since 15th June 2004. Saraswat Bank has ensured that our customers can use existing ATM cards in 'BANCS' network for ATM transactions. Karnataka and Goa. Please note that there are no charges levied on customers for BANCS transaction. Saraswat Bank have a network of 154 branches spread across 5 states viz. Demat Services Modernization in the trading and settlement system has been witnessed in the capital market through automated trading mechanism of Demat. Since its inception there has been a consistent and a steady growth in the number of clients registered with us. The advent of Electronic trading and settlement has brought in transparency in trading and has eliminated risks associated with Bad Delivery and handling huge load of paperwork. Maharashtra.
00 7.50 7.25 5.00 7.a.) Rates for Public & Staff For Deposits of Rs.00 Interest rates on Term Deposits with effect from 12th December’ 2009 for .00 7.15 lakhs (% p.00 6.25 4.1 crore& above (% p.) 181 days to 12 months Above 12 months to 24 months Above 24 months to 36 months Above 36 months to 60 months 6.25 6.15 lakhs but below Rs.50 7.1 crore (% p.a.a.50 7.• Death Claim Settlement • Standing Instructions • Lockers Deposit Scheme Interest Rates :Interest rates on term deposits wef 12th December.50 6.2009 Interest rates on Term Deposits with effect from 12th December’ 2009 Tenor Rates for Public & Staff For Depos its up to Rs.) Rates for Publi c for Depo sits above Rs.
Bulk Deposit are deposits of Rs 1 crore and above (inclusive of any existing deposits) .1 crore& above (% p.75 5.50 7.a.1 5 lakh sbut belo w Rs.a.) Rates for Deposits of Rs. the existing scheme of short term deposits upto 180 days stand cancelled .15 lakhs (% p.50 7.00 7.a.00 As the short term funds requirement of the Bank will be fulfilled by the funds available by way of short term deposits available from MHADA.25 6.00 7.75 4.00 7.50 7.) 181 days to 12 months Above 12 months to 24 months Above 24 months to 36 months Above 36 months to 60 months 6.1 crore (% p.Senior Citizens:Tenor Rates for Depos its up to Rs.) Rate s for Depo sits abov e Rs.50 7.00 7.
65 % FOREIGN CURRENCY (NON–RESIDENT) TERM DEPOSIT (w.47 - RFC Deposits (01.e.e.20 2.90 3.01% 2.) 6.2009) Saving Bank [w. e.a Term Deposits [Prevailing Interest rates for the PERIOD 01.2009 TO 31.50 % p.23 2.17 2.12.2009 to 30.12th December.02% 2.) 2.00% .a) 2.11.38 3.56% Interest Rates on NRO w. Saving Deposits 3.f 01.a. f.05% 3.f.e. 1st April.24 % p.95% 184.108.40.2069) 1 Year and above but less than 2 years 2 Year and above but less than 3 years 3 Year and above but less than 4 years 4 Year and above but less than 5 years 5 Years only USD% 2.a.f.00% 6.2009 to 30.50 % 7.NRI Deposit Rates:< Non-Resident various on Rates> Interest Rates on NRE w.03.a Term Deposit 181 days to 12 months Above 12 months to 24months Above 24 months to 36 months Ab0ve 36 months to 60 months Rate(P.45 6. 2009 0. 01.2009] Period of Deposit 1 year to 2 year < FONT> 2 year to 3 year 3 years only Rate (p.74 GBP% EURO CAD AUD % % % 2.12.2008.11.2009] Period of Deposit 12 months to less than 24 months 24 months to less than 36 months 36 months upto 60 months Rate (p.30 2.
00% 40 to 54 D PLR + 3.00% B.00% Rate of Interest on Rupee Export Finance for Diamond Exporters: Type Rate of Interest Preshipment Credit Upto 90 days or Production cycle whichever is less PLR-3.00% Below 40 E PLR + 4.50% Overdue Interest/Current Account Recovery PLR+3. C.a. For Others: PLR + 1.00 lacs including Property Loan and Loan against Rent Receivables are linked to Internal Credit Rating System as follows: Marks Scored in Credit Rating (out of 100) Rating Code Interest Rate applicable 90 and above PRIME PLR 80 to 89 A PLR + 0. Interest on Forex limits Rate of Interest of Rupee Export Finance for Non Diamond Exporters: Type Rate of interest Preshipment Credit Upto 180 days or Production cycle whichever is less PLR-3.00 lacs excluding Advance under Swift Credit Scheme PLR+ 2.50% p.50% Overdue interest/Current Account Recovery PLR+3. A.00% For financing in Foreign Currency.00% p.50% Overdue interest/Current Account Recovery PLR+3.50% 70 to 79 B PLR + 1.50% On Usance Bills Upto 90 days PLR-3. Interest on Advances under the Swift Credit Scheme For Professionals : PLR + 0. D.00% 55 to 69 C PLR + 2. rate of interest will be as per RBI Stipulations.25.00% Post shipment Credit On Demand Bills For Transit period PLR-3.25.Interest Rate on Advances :The Board has revised the PLR to 13.a.00% Beyond 90 days upto 6months fromthe date of shipment PLR+0.00% Overdue interest/Current Account Recovery PLR+3.00% p.00% Post shipment Credit On Demand Bills For Transit period PLR-3.a. Interest on all the Advances above Rs. Interest on advances below Rs. E. Interest on Advances against tangible Securities: Rate of .00% p.50% Beyond 90 days upto Due date/ Notional due date PLR+0.a.00% On Usance Bills Upto 90 days PLR-3.
etc. LIC.Loan against pledge of tangible securities viz. Loan against gold ornaments PLR PLR . Bonds. IVP. Units of UTI. NSCs. RBI Bonds.
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