Way back in 1984, a group of enthusiastic and co-operative minded people belonging to KDO Jain Community assembled and took a strong decision for launching a Co-operative Bank of their own in this great city of financial hub and monetary operations. The promotion work was entrusted to Shri Pravin D Khona, Shri Laxmichand S Ratani & Shri Virchand L. Munver.
The 1st branch was opened in May 1984 at Bhandup. The loan portfolio of the bank includes home loan, personal loan, educational loan, car loan etc.
PURPOSE – To offer financial assistance to Small Transport operator, SSI, Small Business, Retail Trade Professional etc
BENEFICIARY – Small Transport operator, SSI, Small Business, Retail Trade Professional & Self Employed.
Rate of interest –
| AMOUNT | ROI |
| Up to Rs. 2.00 Lakhs | 11.00 % per annum |
| Above Rs.2.00 Lakhs to Rs.5.00 Lakhs | 12.50 % per annum |
| Above Rs.5.00 Lakhs to Rs.10.00 Lakhs | 13.00 % per annum |
| Above Rs.10.00 Lakhs to Rs.50.00 Lakhs | 13.50 % per annum |
| Above Rs.50.00 Lakhs | 14.00 % per annum |
REQUIREMENTS – application Form, balance Sheet for last 3 years,
Tax Papers, Property Documents.
OTHER CONDITIONS – Bank’s Shares to be purchased; Two Guarantors with Net worth / Income.