The Bhagyodaya Co-op. Bank Ltd. was established in 1972 in a small rented place near Kamnath Mahadev, Raipur, Ahmedabad. The bank was registered on 29-5-1972 having Reg. No. S-11789. The bank was shifted at H. K. House, Ashram Road in a spacious building in 1975. The bank had granted loans to various parties and traders. But, recovery of the loan was very poor. Moreover, the bank was not successful in mobilising the deposits also. During this period total overdue of the bank was 99% and Reserve Bank of India issued a notice to the bank for closure of bank due to its heavy overdue. The bank was placed under the category of weak bank. The management was not in a position to improve the functioning of the bank and also to recover the overdue advances.

The new board of the bank worked sincerely for the speedy and sound progress of the bank. They contacted the prospective depositors and also borrowers for sound banking activities. Moreover, the board members also convinced the registrar of the Co-op. Society and Reserve Bank of India that the bank will be out of weak category within short period and they made it true that the bank was out of this category only within six months from taking over the management. The board has put in to practice the action plan and also the strategy for speedy progress of the bank. The able directors and also the banking staff tried their best to put the bank on sound position.
  • OAS Loan (against security of Immovable Property) 13.50%
  • All type of Cash Credit, Term Loan 13.00%
  • Housing Loan (Up to 25 Lacs) 11.25%
  • All type of Two-Wheelers 13.50%
  • All type of New Four-Wheelers (Up to 60 Months) 10.25%
  • All type of New Four-Wheelers (Above 48 Months to Max. 60 months) 11.00%
  • All type of Commercial Vehicle 13.50%
  • Unsecured Loan / Clean Cash Credit (Maximum Rs. 1,00000/-) 14.50%
  • No Proceesing Charges
  • Housing Loan (Above 25 Lacs to 70 Lacs) 11.75%
  • Balance Inquiry Through Mobile
  • Balance Certificate
  • Interest Certificate
  • Stamp Franking Service
  • No Charge For Online E-Payment
  • Fund Transfer Facility through RTGS
  • Zero Balance Facility for No Frill Saving Account
  • No Charges for ECS, Credit or Debit Facility
  • VAT, TDS, CST, Service Tax, Excise, Advance Tax
  • SMS Alert On Mobile
  • No Charge For Pre-Payment of Loan
  • No Charge For Inter-Branch Trasaction
  • No Charge For NEFT Inward/Outward
  • No Charge For FI (First Information)
  • Online Print Customer Information Form & Any Account Opening Form
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