This Bank was first established as a Co-operative Urban Credit Society in the year 1917. This was later on converted into a Bank. The bank now has its branches in Sangli, Kolhapur, Solapur, Ratnagiri, Pune and Mumbai.
During the year 1999-2000 Karad Urban Co-operative Bank was conferred with the “Scheduled Status” as mark of its established financial health and confidence of public on the bank.
Purpose: This loan could be availed for any business needs.
Eligibility: The loan applicant must be a member or nominal member of the bank. Any individual who have sufficient capacity to repay the loan can avail this personal loan.
Rate of Interest: The rate of interest for loans granted for purchase of place for business, office, shop is 12.5% per annum fro loan amounts up to Rs. 20 lakhs. For loans between Rs. 20 lakhs to Rs. 50 lakhs the rate of interest is 14.5% per annum. For loans above Rs. 50 lakhs the rate of interest is 14% per annum.
Other features: There are low processing charges. The highlight feature of the loans granted by the bank as claimed by the bank is quick assessment and timely disbursement.