Which is the Best Cooperative Bank (Urban)?

Consumer VOICE identified and compared 10 Cooperative Banks on the basis of consumer feedback & sensing market sentiment as expressed by a cross-section of product – the most important and the most influential variables, directly concerning the consumers that are Service Charges. Accordingly, to ascertain the best/good/fair services, we have assigned points to indicate their relevance from consumer point of view. Read on to know the Best Cooperative Bank in Urban India.

How reasonable are charges of cooperative banks?

Cooperative banks operating in the cooperative sector have rendered yeoman service to people who believed in sharing of the profits made out of business done in cooperative federalism. The public would have to be made aware and partly educated about what cooperatives mean  for the common man in rendering him services including banking.

It is high time people & consumers who look for products & services in the banking arena in the cooperative sector are brought through this story to appreciate and avail what they offer in terms of satisfied clientele extending the neighborhood friendly cooperative bank near your residence

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We are now going to discuss the role of Urban Cooperative Banks in levying service charges for availing various banking services; so let us get down analyzing what they offer in the area of banking services to consumers. One thing is sure. The cooperative banks choose areas where sizeable populations of their community live in order to give them ‘a feel’ of homeliness – a sort of friendly-neighbourhood bank. The consumers who become the bank customers identify them easily as the bank staffs mostly ‘speak’ their language.

Some cooperative banks are offering 6 full-days banking every week while some others are offering ATMs at all branch locations. Most of them offer total computerized operation environment. Many of them have been awarded by RBI/State Govts for their commendable work in the field of consumer services.


Product Comparison Chart

Based on product offer (collected from their website) & service rendered (consumer feedback) on banking services, we have made a checklist of the cooperative banks vis-à-vis their product/service performance & shown them by way of an Annexure here. We have chosen only those cooperative banks who have a semblance of “presence’ in Delhi and/or NCR & who have furnished full information on their website.

Banks Compared

  • Kangra
  • PMC
  • Janata
  • Saraswat
  • Jamia
  • Bombay Mercantile
  • Shivalik Mercantile
  • SVC
  • Vaish Adarsh
  • Jain

Parameters Compared

  • Established
  • Total branches in India
  • No. of branches in Delhi/NCR
  • Free cheque leaves available (number)
  • Issue of additional cheques (Rs per leaf)
  • Account statement/balance certificate/duplicate passbook (Rs)
  • Stop payment of cheque (Rs)
  • Account closure before 1 year (Rs)
  • Outward cheque deposited returned (Rs)
  • Inward cheque issued returned (Rs)
  • Signature/Photo/Verification/Attestation charges (Rs)
  • Not maintaining minimum balance (Rs, quarterly)
  • ECS returned outward (debit to your account) (Rs)
  • SMS alerts (half-yearly) (Rs)
  • ATM service availability
  • Debit card issuance charges (Rs)
  • Consumer feedback

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