cosmos final
TRANSCRIPT
COSMOS CO-OPERATIVE BANK
INTRODUCATION & HISTORY:-History
Established in 1906, the Cosmos Co-operative Bank Ltd. is the second oldest bank in the country. The Bank has recently completed glorious 105 years of service successfully. It has attained multi state scheduled status in 1997. The Bank is a professionally managed 'Financial Institution', a benchmark of credibility and innovation.
Bank has nurtured its traditional values in business practices and in serving the small customers. At the same time it has adopted new technologies and advanced banking tools to add value to its services. Cosmos Bank has carved a niche in the banking sector due to its rich heritage, integrity, adherence to prudent banking practices, technology advancement, customized products and services and most of all due to its experienced, qualified and professional Board of Directors.
Setup – Financial & GeographicalFinancial setup of the bank as on 31.03.2010 was Rs.11835 crore, comprising of Deposits of Rs.7213 crore and Advances Rs.4622 crore.Cosmos Bank operates through 104 branches and 9 Extension Counters in India spread across 5 States and in 28 Major Cities, which are as follows:Maharashtra : Mumbai, Pune, Nagpur, Aurangabad, Nashik, Baramati, Jalna, Kolhapur,
Satara, Phaltan, Sangli, Solapur, Bhusawal, Jalgaon.Madhya Pradesh : Indore.Andhra Pradesh: Hyderabad, VijaywadaKarnataka : Banglore. Belgaum, Nipani.Gujarat: Surat, Ahmedabad, Baroda, Ankaleshwar, Rajkot, Bhuj, Gandhidham,
Bhavnagar
Social ObligationsCosmos Foundation is a public charitable trust founded under the initiative of shareholders of Cosmos Co-op Bank on 16.10.1987.
The registered office of the foundation is at 269/270, Shaniwar Peth, Pune-30.
The main objectives of the foundation are: -
1. To give loans to Cosmos Bank members at concessional rates for pursuing higher education abroad.2. To give medical help to members upto specified limits.3. To felicitate the awards of members who excel in Std. X & XII examinations.4. To promote educational spirit and to maintain, support, propagate intellectual qualities educational facilities, etc.5. To arrange educational seminars, conferences, etc.6. To grant relief in the event of natural calamities such as earthquakes, floods, famine,7. The Foundation also provides outsourcing facility8. Special arrangement as Executor & Trustee for preparation & execution of Will especially for the Senior Citizens.
PRODUCTS & SERVICES
E-Payments Anywhere Banking General Insurances Life Insurance Business MSEB Bill Payment Facility Cosmo Quick Pay Safe Deposit Vaults (Lockers) Mutual Fund Services Charges Visa Debit Card Issuance Service Pan Card Service A/Cs & Term Deposits
E- Payment
About e-payment:
We are making payments of various types of taxes on behalf of our customers to the Government though the on-line payment system linked with HDFC Bank Ltd/ IDBI Bank Ltd/ at our Head Office.
Types of taxes covered:-
A: Direct Taxes
1. Various TDS payments2. Advance tax payments of Income-tax and FBT3. Self-Assessment or Regular assessment taxes- Income -tax & FBT
B: Indirect Taxes (E-Payment Will be Implemented Shortly)
1. Service-Tax Payments2. Excise Duty Payments
Anywhere Banking
• This system has facilitated Any-where Banking facility through all our Branches and Extension Counters.
• This system has enabled us to launch host of customer friendly services, such as…..
- ATMs: Installation of ATMs at each of our branches/ extension counters, Offsite locations is in process, out of which 74 onsite ATMs have already been commissioned.
- Multi-city cheque book facility: This facility has helped many of our Corporate/Commercial clients in their business. Multi-city cheques are often known as ‘at par' cheques payable at all branches of the bank, within the framework of the clearing norms. - Instant Funds Transfer: This helps many of our customers to transfer their business/ personal funds instantaneously to any of our branches. - Electronic Clearing Services: Periodic payments such as monthly/quarterly interest on fixed deposits, dividend on our shares etc. can now be instantaneously credited to the beneficiaries account at any of our branches or at any other bank-branch. -NEFT( National Electronic Funds Transfer): To facilitate transfer of funds from any bank branch to any other bank branch participating in NEFT. Presently we are providing this facility with nominal charges for Outward NEFT transaction and free of cost for Inward NEFT transaction.
NEFT - Contact Details of customer Facilitation Centres
-e-PAYMENT OF TAXES: In this facility our customers can pay their Direct Taxes (started from 11/08/2008) and Indirect taxes ( will begin from 25/8/2008) debiting their account through our Bank. Also providing following facilities shortly: Tie up with IDBI Bank for issuance of Demand Drafts: This facility will be helpful for issuing demand drafts on approximately 500 centers of IDBI Bank. In this facility we can issue the demand drafts to the customer having special demand for Nationalized Banks demand drafts for payment of custom etc.
NECS( National Electronic Clearing System): In this system the ECS file will be uploaded centralized at MRO. Initially only the credit transactions will be uploaded. The settlement cycle for the same is one day only.
General Insurances
Reserve Bank Of India has permitted us to engage in General Insurance business as a corporate agent.• We have tied up with Bajaj Allianz General Insurance Company Ltd. for offering its policies to our customers.• These General Insurance products are available at all of our branches.
Life Insurance Business
We have entered into a referral arrangement with M/s Bajaj Allianz Life Insurance Company Ltd for selling life insurance policies to our customers.These life insurance products are available at our all branches.
MSEB Bill Payment Facility
• Customers from Pune region can pay their electricity bill by way of electronic debits to their Accounts with us.
• This service is offered free of cost to our customers.
Cosmo Quick Pay
We have launched Cosmo Quick Pay facility at all our Pune, Mumbai and Ahmadabad branches in collaboration with India Ideas.Com ( Bill Desk). Various Bill Payment viz. Electricity, Telephone, Mobile, Credit Card, Insurance, Taxes, ISP, Gas, Depository, Charity, Donation etc. are done free of cost.
Safe Deposit Vaults (Lockers)
Safe deposit vaults (Lockers) are available at all the branches and also at some of the extension counters.Safe Deposit Vaults (Lockers) of varied sizes are available at following Branches / Extension Counters:
LIST OF BRANCHES WHERE LOCKER FACILITY AVAILABLE
BRANCHES WITHIN
MAHARASHTRA
BRANCHES OUT OF MAHRASHTRA
SR NO
PUNE BASED BRANCHESSR NO
ANDHRA PRADESH
1 Ajmera 1 KING KOTI RD,HYDERABAD2 Chinchwad 2 AMEERPET,HYDERABAD3 Nigdi 3 M.G. Rd. Secunderabad4 KOEL 4 S.P. Rd. Secunderabad5 Koregaon Park 6 Pimpri AHMEDABAD7 Aundh- Sanewadi 1 Ashram Road8 Aundhgaon 2 Bapu Nagar9 Deccan Gymkhana 3 Mani Nagar10 Ganeshnagar 4 Naroda Ind. Estate11 Gokhalenagar 5 Nava Vadaj12 Kothrud 6 Odhav13 Pashan 7 Raipur14 Paud Road 8 Rajkot15 Vitthalwadi 9 Sattalite16 Warje 10 University17 Dhankawadi18 Hadapsar19 Kasba- Raviwar BARODA20 Laxmi Road 1 Productivity Road21 Parvati Darshan 2 Sama Road22 Pune- Camp 3 Subhanpura23 Pune Blind School 4 VIP Road24 Alandi 5 Waghodia MUMBAI BASED BRANCHES1 Dadar KARNATAKA2 Vile-Parle 1 Bangalore
3 Bandra4 Dombivali5 Andheri MADYA PRADESH6 Ghatkopar 1 Indore
7 Chembur
8 Vashi
9 Mulund
10 Boriwali
11 Kandivali
12 Malad
13 Thane
14 IMCS Ext.
. OTHER BRANHES WITHIN
MAHARASHTRA
1 Aurangabad
2 Jalna, Aurangabad
3 Baramati
4 Nagpur
5 Nashik
6 Pethe Vidyalaya-Nasik
7 CIDCO-Aurangabad
Mutual Fund Services
Reap an attractive yield from your investment!
Today's smart investors are investing at least some part of their savings, in Mutual Funds to beat the accelerating inflation rate by taking marginal risk. Cosmos bank now brings Mutual Fund Services within your reach. You can enjoy New Fund Offers as well as year-round purchasing of a wide array of MF products of various renowned Asset Management Companies. You can choose any scheme to get tax benefit / to get regular income / to accelerate your income, etc. as per your requirements. Apart from this, you can also get prompt investment advice from our AMFI qualified investment advisor, without any charge. With this help, you can make educated decisions regarding MF investment.
MUTUAL FUND DISTRIBUTION
PRODUCTS OF ASSET MANAGEMENT COMPANY (AMCs) AVAILABLE WITH US UTI ASSET MANAGEMENT CO. TATA ASSET MANAGEMENT LTD. HDFC ASSET MANAGEMENT CO. KOTAK MAHINDRA ASSET MANAGEMENT CO. ICICI PRUDENTIAL ASSET MANAGEMENT CO. BIRLA SUNLIFE ASSET MANAGEMENT CO. ING ASSET MANAGEMENT CO. RELIANCE ASSET MANAGEMENT CO. PRINCIPAL PNB ASSET MANAGEMENT CO. DSP BLACKROCK MUTUAL FUND CO. SUNDARAM BNP PARIBAS ASSET MANAGEMENT CO. SBI ASSET MANAGEMENT CO.
Some Attractive Mutual Fund Schemes are as follows;
Some Attractive Mutual Fund Schemes
Sr Scheme NameDate of Inception
Div Last Year
Return Description
2007-08Since Inception
1UTI LEADERSHIP EQUITY
Jan 2006 Nil 17.3% 24.01%Large Cap Fund
2RELIANCE VISION
Oct 1995 100% 19.3% 27.97%Large Cap Fund
3 ICICI INFRA Aug 2005 70% 55% 48.40% Infra- Fund
4KOTAK 30
Dec 1998 120% 32.6% 25.99%Large Cap Fund
5HDFC GROWTH
Aug 2000 40% 35.5% 30.07%Large Cap Fund
6BIRLA FRONTLINE EQUITY
Aug 2002 40% 27.2% 41.94%Large Cap Fund
7SUNDARAM SELECT FOCUS
July 2002 65% 36.5% 45.33%Large Cap Fund
8PRINCIPAL PERSONAL TAX SAVER
March 1996
80% 11.31% 39.02%ELSS Scheme
9ING DOMASTIC OPPORTUNITIES
Aug 2004 30% 21.7% 44.63%Mid Cap & Small Cap
10
TATA PURE EQUITY FUND
MAY 1998
30% 26.49% 33.07%Large Cap
11
DSP ML India TIGER Fund
June 2004 45% 15% 35%Flexi Cap
12
SBI MAGNUM TAX GAIN SCHEME
1993 20.23% 21.41%ELSS Scheme
Charges
Name of the Bank The Cosmos Co-operative Bank Ltd., Pune Savings Bank A/c - No frills A/c Minimum Balance ZeroCharges for non maintenance thereof
NIL
Savings Bank Accounts with Chequefacility
Minimum Balance Rs.1000/-Charges for non maintenance thereof
Rs.15/- per quarter
Savings Bank Accounts withoutCheque facility
Minimum Balance Rs.500/-Charges for non maintenance thereof
Rs.15/- per quarter
Other savings bank account facilities
Issue of Duplicate Statement Rs.10/- per pageIssue of loose chequeleaves Not applicableIssue of DuplicatePass book Rs.25/-Mode of calculation of minimum balance
A parameter is set in the system to
consider minimum balance Remittance Facilities through own bank
DD-Issue Not applicableDD-Cancellation Not applicableDD-Duplicate Not applicableDD-Revalidation Not applicable
PO-Issue Rs.1/- to Rs.1000/- - Rs.10/- Above Rs.1000/- - Rs.1.50 per thousand Maximum Commission - Rs.2000/-PO-Cancellation Rs.25/- per instrumentPO-Duplicate Rs.25/- per instrumentPO-Revalidation Rs.25/- per instrumentTT-Issue Not applicableTT-Cancellation Not applicableTT-Duplicae Not applicableTT-Revalidation Not applicableEFT Charges-inward Not applicableEFT Charges-outward Not applicableRTGS-Outward Rs. 1 to 5 lacs - Rs.25/- per Tran + S.Tax
Rs. 5.00 lacs & Above - Rs. 50/- per transaction + S. Tax.RTGS-Inward Free Collection of Cheques(Home Clearing)
Nil
Remittance Facilities through other bank
DD-Issue HDFC, ICICI. Rs.1/- to Rs.1000/- - Rs.10/- Rs.1001/- to Rs.5000/- - Rs.10/- Rs.5001/- to Rs. 10000/- Rs.20/- Above Rs. 10001/- Rs. 1.50 per thousand Bank of Maharashtra - Rs.1/- to Rs.2500/- - Rs.10/- Above Rs.2500/- - Rs.2/- per thousand Maximum Commission - Rs.3000/-DD-Cancellation Rs.25/- per instrumentDD-Duplicate Rs.25/- per instrumentDD-Revalidation Rs.25/- per instrumentPO-Issue Not applicablePO-Cancellation Not applicablePO-Duplicate Not applicablePO-Revalidation Not applicableTT-Issue Not applicableTT-Cancellation Not applicableTT-Duplicate Not applicableTT-Revalidation Not applicableEFT Charges-inward Not applicableEFT Charges-outward Not applicableRTGS-Outward Not applicableRTGS-Inward Not applicableCollection of cheques Through HDFC Bank -
Charges as per other Bank OBC + Rs.15/- or Rs.35/- as charged by HDFC BankCheque Collection Local NILOutstation through own bank Rs.1/- to Rs.500/- - NIL Rs.501/- to Rs.10000/- - Rs.20/- Rs.10001 to Rs.1 Lakh - Rs.2/- per thousand Above Rs.1 Lakh Rs.2.50 per thousand Maximum Rs.2500/- Postage – NIL Outstation through another bank Rs.1/- to Rs.500/- - 20/- Rs.501/- to Rs.10000/- - Rs.2/- per thousand Rs.10001 to Rs.1 Lakh - Rs.3/- per thousand Above Rs.1 Lakh - Rs.3.50 per thousand Maximum Rs.3500/- Postage – Actual Cheque return charges : Bouncing of cheques-Local Upto Rs.10000/- - Rs.100/- Above Rs.10000/- - Rs.100/- + 1.50 per ThousandBouncing of cheques-outstation-through own bank
Upto Rs.10000/- Rs.100/-
Above Rs.10000/- - Rs.100/- + 1.50 per Thousand Postage – Nil Bouncing of cheques-outstation-through
Upto Rs.10000/- Rs.100/-
another bank Above Rs.10000/- - Rs.100/- + 1.50 per Thousand Postage – ActualRetail Loan Loan Processing Charges Home loan Rs.1500/- per proposal Emergency loan - Rs.15/- per proposal Sabhasad Palya Rs.15/- per proposal Gold Loan Rs.50/- per proposal Surety loan Min.Rs.50/-,Upto Rs.50000/ Vehicle loan + Rs.50/- for each part of (2 & 3 Wheeler) Rs.50000/- Secured loan – Min Rs.50/- uptoRs.50,000/- + Rs.50/- for
each part of Rs.50,000/- 4 Wheeler Veh.Loan Min.Rs.100/- upto Rs. 1.00 lac +
Rs. 50/- for each part of Rs. 50,000/- Cash Credit + BD Rs.1 lac + Rs.50/- for each part of Rs.5000 (Service tax extra) Share O.D. - 0.1% of sanctioned limit Prepayment Charges Flat 3% on O/s bal. On the date of closure for Term Loan Cash Credit, B.D. Project Finance (Including advances to builder) No due Certificate Nil Solvency Certificate Re.1/- to Rs.50000/- - Rs.150/- Rs.50001 to Rs.1 Lakh - Rs.200/- Rs.100001 to Rs.5 Lakh - Rs.250/- Rs.500001 to Rs.10 Lakh - Rs.500/- Rs.1000001 to Rs.1 Cr - Rs.500/- Above Rs.1 Cr - Rs.500/-Charges for late payment of EMI NilCharges for changing from fixed to New Fix
1% on Outstanding balance
of interest Charges for changing from float to fixed rates of
1% on Outstanding balance
interest Cards ATM Membership fee NilAnnual Fee NilRenewal Charges NilLate Payment Charges Not applicableInterest Charges Not applicableReplacement charges Rs.50/-Transaction Charge for Partner banks
Rs.25/- + Rs.3/- Service charges per Trans.
Transaction Charge for Non-Partner banks
Not applicable
Credit Card Not applicableMembership fee --"--Annual fee --"--
Renewal Charges --"--Late Payment Charges --"--Interest Charges --"--Replacement charges --"--Cash withdrawal --"-- Debit Card Not applicableMembership fee --"--Annual Fee --"--Renewal Charges --"--Late Payment Charges --"--Replacement charges --"--Cash withdrawal --"-- Miscellaneous Balance enquiry NilBalance Certificate Upto Rs.50000 Rs.150/-, Rs.50001 to Rs.1 lakh - Rs.200/- Rs.100001 to Rs.5 lakh - Rs.250/- Rs.500001 & above Rs.500/-Interest Certificate NilAccount closure Within 1 Yr. - SB Rs.100/- CA Rs.200/- Daily A/c Rs.50/- Recurring A/c Rs.50/-Use of Fax/Telephone/Modem NilPhoto attestation NilSignature attestation Rs.5/- per attestationStop Payment Charges Rs.5/- per instructionInoperative account Nil
Visa Debit Card Issuance Service
Launching of the Visa Debit Card Now Enjoy the Power of Debit Card
Bank has introduced the Visa Debit Card for your convenience.By choosing to use Cosmos Bank International Debit - Cum -ATM Card you have entered in International Visa Network!The Cosmos Bank International Debit-Cum-ATM Card gives you access to your Cosmos Bank account “Anytime and Anywhere” you want. It allows you to access your money through withdrawal transactions at all Cosmos Bank’s ATM’s, NFS Members-Bank ATM’s and VISA networked ATM’s in India and abroad as well as make purchase at VISA Electron merchant establishment worldwide.Using of this International Debit - Cum -ATM Card is too simple, just follow the customer friendly screens and the ATM will carry out your order in seconds.
Features
All Savings / Current Account holders are eligible for our International Debit-Cum-ATM Card provided, they have the mandate to operate the account singly or Either or survivor. Links up to three accounts on one Card.Cash withdrawal at over 29000 ATM’s in India and through 1 million VISA Overseas ATM’s also from approx. 31000 NFS – Bancs Member-Bank ATM’s in India.ATM Cash withdrawal limit for Visa Gold Card is Rs.25000/- and for Visa Classic Rs.15000/- per day and purchase per day without upper ceiling limit at merchant outlets (POS).Usage at Cosmos Bank ATM’s free of cost.
Usage at Merchant Outlets (POS)
Your International Debit-Cum-ATM Card can be used for shopping at any of the 4.5 lakh VISA Electron merchant outlets in India and more than 26 million worldwide.
ValidityYour International Debit-Cum-ATM Card is issued for a period of 9 years initially.
Pan Card Service
Dear CustomersYour Bank Has Started………PAN CARD SERVICESAS AUTHORISED AGENT FOR PAN CARD SERVICE
Attractive Features:-
One page simple Application.
Can apply for New Pan Card, also for Duplicate Pan Card or for Rectified Pan Card.
Photograph and Identification Documents Essential.
Minimum charges are applicable.
Pan Card Service available at our below mentioned branches.
Laxmi Road, Parvati, Pune Camp, Chinchwad, Kothrud, Phaltan, Belgaum,Satara, Kolhapur- Laxmipuri and Shahupuri.
In near future Pan Card Service will be available at all branches in Pune, Mumbai, Gujrat and Andhra Pradesh.
Current Deposit Schemes:-
Regular Current Account: The salient features of the regular current account are as under:
Current Accounts can be opened by individuals, sole proprietorship concerns, partnership firms, private / public limited companies, associations, clubs, societies, trusts, Joint Hindu Families, or other institutions, upon being introduced in a manner satisfactory to the Bank. Minimum balance required to be maintained in Current Account is Rs. 2500/- onwards Current Account holders can avail: Multi-city Cheque book facility. ATM facility Collection of outstation cheques Demand drafts payable at more than 300 cities. Electronic Funds Transfer
Cosmo Premium Current Account:-
Maintain Quarterly Average balance of Rs. 10000 in your Current Account and get host of services free
Inter Branch Transactions. Checkbook Issuance Multiplicity Checkbook Issuance Demand Draft / Pay Order. RTGS / NEFT VISA Debit card Waiver of ledger fee Account Statement through E-mail SMS Banking Cosmo Quick Pay
Saving Deposit Schemes:-
Janasanchay Savings Account Scheme No service charge on the account balanceJanasanchay Savings Account Scheme Cosmo Premium Saving Account Maintain Quarterly Average balance of Rs.5000 in your saving account and get host of services free.
Inter Branch TransactionsChequebook IssuanceMulticity Chequebook Issuance
Regular Saving Account The salient features of the regular saving account are as under
A Savings Account can be opened by Individuals / Minors /Institutions/ Associations/ Regd. Co-op. Societies / Trusts / HUFs. Minimum balance required to be maintained in Saving Account is Rs. 1000/- Interest @3.50% on Savings Account is credited at the end of every quarter.
Term Deposit Schemes:-
Term Deposit Schemes based on Interest Payout
Fixed Deposit Scheme - Monthly. Fixed Deposit Scheme - Quarterly. Cash Certificate - Cumulative interest at quarterly rests
1. Individuals (singly or jointly), Minor by guardian, Institutions, Co-op. Societies, HUF can place deposit.
2. Minimum Amount of Deposit- Rs. 1000/- and in multiples of Rs. 100/- thereof.
LOANS:-
Business Loan Schemes:-
Term Loan for capital investment in fixed assets, such as Plant & Machinery, Construction/Purchase of factory Shed/Office Premises, Furniture & Fixtures, Technical Gadgets/Equipment, etc.
Vehicle Loan for commercial vehicles, used for the factory, transportation etc.
Working Capital Facilities, such as • Cash-Credit for working capital requirement i.e. to avail the credit against the security of stock, debtors or other liquid assets. • Bills Discounting for finance against accepted bills of the reputed buyers.• Non-Funding Limits, such as Letter of Credit & Bank Guarantee can be extended for securing large contracts / work orders.
Working capital loan scheme
Objective of the Scheme: The scheme aims at providing financial support for the working capital needs of the small Entrepreneurs. Loans up to 25 Lakhs
Eligibility Criteria: 1.The applicant should be regular member or nominal member of bank. 2. Applicant should have banking relation with our bank. 3. The applicant shall be engaged with trading/ industrial/ Service activity with valid Licenses.
Type of facility: Operative Overdraft facility with cheque book.
Margin: 25% of the marketable Security value in bank’s favour (Limit will be 75%).
Security (Prime): 1.In the form of immovable constructed property in Corporation Limits: if outside Corporation limit- TP Plan & Collector NA is required. The property shall be self occupied.2. Any other assignable security such as NSC, LIC, Shares, FDRs etc in support of the above 1.3. If only shares are offered as security, the maximum limit will be restricted to Rs.20.00 lacs.
Security (Collateral): Stock & Debtors will be collateral security, only initial stock/debtors statement will have to be submitted.
Important points for security:
1. The property shall have clear & marketable title & salability.2. Valuation Report of the Panel Valier to be considered.3. The property shall not be older than 25 years.4. It should be self occupied.5. If the property is already mortgaged with the bank; the unencumbered portion can be considered in deserving cases.6. The property will have to be mortgaged with registered mortgage.
Period: On demand or 3 years; Renewable with necessary documents.
Rate of Interest: At present @12% p.a. Interest rates are subject to change from time to time.
Processing Fee :@ 0.10% of the Loan Demand
Cosmo Loans:-
Attractive Loan Schemes at very competitive rate of interest & reasonable documentation with fast disposal. Our various loan schemes are Car Loan, Home Loan, Cosmo Credit Loan, Cosmo Mortgage Loan, Cosmo SME Loan, Industrial and Business Loan, Vendor Finance, LC discounting, Gold loan scheme Loan, Educational Loan, Share Overdrafts etc. Special Features :-
1. Minimum Documents.2. Fast Processing of Loans.3. Immediate Loan Sanction.4. Schemes under Capital Subsidy, Technology Up-gradation Fund etc also available.
.
Interest Rates (Both means Deposit & Lending rate):-
Nature Rate Of Interest (%) p.a. Minimum Balance
Account Normal Senior Citizen RuralSemi Urban
Urban
A. Domestic * W.E.F. 20 May, 2010
a. With cheque Book facility
3.50% 3.50% Rs.1000/- Rs.1000/- Rs.1000/-
b. Without cheque Book facility
3.50% 3.50% Rs.500/- Rs.500/- Rs.500/-
c. No Frills Account 3.50% 3.50% Rs.0/- Rs.0/- Rs.0/-
B. Non Resident
a. NRO 3.50% 3.50%
b. NRE 3.50% 3.50%
We hereby inform to all our esteemed depositors/accountholders that the interest rates on Term deposits have been revised w.e.f. 07.02.2011 The new Interest Rates are as follows
Period General & Institutional Senior Citizen
15 Days to 45 Days 5.00% 5.00%
46 Days to 90 Days 5.50% 6.00%
91 Days to 181 Days 6.25% 6.75%
182 Days to 12 Months 7.25% 7.75%
Above 12 Months to less than 2 years 9.00% 9.50%
2 years to less than 3 years 8.75% 9.25%
3 years to less than 5 years 8.50% 9.00%
5 years upto 10 years 8.50% 9.00%
60 Months’ Tax Exemption Scheme 8.50% 9.00%
A. Revised Rate of Interest on advances for Working Capital limits i.e. Cash Credit, WCDL, SLSO & Bills Discounting loans is as follows: -
Present ROI %p.a.Revised ROI %p.a. w.e.f 07.02.2011
Upto Rs 1 Crore 11.50 12.00
Above Rs.1 Cr. To below Rs.10 Cr. 12.00+ credit rating 12.50+ credit rating
From Rs.10 Crs. To below Rs.25crs 11.50+ credit rating 12.00+ credit rating
From Rs.25 Crs & above 11.00+ credit rating 11.50+ credit rating
Pharmaceutical loans / Agriculture & Allied to Agriculture loans (Irrespective of amount)
11.00+ credit rating 11.50+ credit rating
B. Revised ROI for Commercial Term Loans (Fixed rate)
Present ROI %p.a.Revised ROI %p.a. w.e.f 07.02.2011
Upto Rs 1 Crore 12.00 12.50
Above Rs.1 Cr. To below Rs.10 Cr. 12.25+ credit rating 12.75+ credit rating
From Rs.10 Crs. To below Rs.25crs 12.00+ credit rating 12.50+ credit rating
From Rs.25 Crs & above(If only term loans are sanctioned)
11.50+ credit rating 12.00+ credit rating
From Rs.25 Crs & above(If Term Loans + Working Capital limits sanctioned )
11.00+ credit rating 11.50+ credit rating
Pharmaceutical loans / Agriculture & Allied to Agriculture loans (Irrespective of amount)
11.50+ credit rating 12.00+ credit rating
Amount / Type of LoanPresent ROI %p.a.w.e.f 18 /01/2011
Revised ROI % p.a. w.e.f 07 /02/2011
Applicable to Existing(E) or New (N)
Revised Rate of Interest for Cash Credit, SLSO & Bills Discounting
Upto Rs 1 Crore 11.50 12.00 E+N
Above Rs.1 Cr. To below Rs.10 Cr.12.00 + credit rating
12.50 + credit rating
E+N
From Rs.10 Crs. To below Rs.25crs11.50 + credit rating
12.00 + credit rating
E+N
From Rs 25 Crs. & Above11.00 + credit rating
11.50 + credit rating
E+N
Pharmaceuticals loans / Agriculture & Allied to Agriculture loans (Irrespective of Amount)
11.0 + credit rating
11.50+ credit rating
N
Revised Rate of Interest for Commercial Term Loans :-(fixed rate)
Upto Rs 1 Crore 12.00 12.50 N
Above Rs.1 Cr. To below Rs.10 Cr.12.25 + credit rating
12.75 + credit rating
N
From Rs.10 Crs. To below Rs.25crs12.00 + credit rating
12.50 + credit rating
N
Rs 25 Crs. & Above (If only Term loans are Sanctioned)
11.50 + credit rating
12.00 + credit rating
N
Rs 25 Crs. & Above (If Term Loans + working capital limits are sanctioned)
11.00 + credit rating
11.50 + credit rating
N
Pharmaceuticals loans / Agriculture & Allied to Agriculture loans
11.50 + credit rating
12.00 + credit rating
N
For Other Advances
Vehicle Loan for 2 wheelers NA
General 13.00 13.00 N
Concession ROI *10.50 *10.50
Vehicle Loan for 4 wheelers 60 months
11.50 11.50N
Vehicle Loan for 4 wheelers 84 months
12.00 12.00NA
Special Scheme for Car Loan1st Year
2nd year
Last 3 yrs(fixed)
10.00 10.50 11.00
1st Year
2nd year
Last 3 yrs(fixed)
10.00 10.50 11.00
Loan against assignable and tax free bonds
10.50 11.00N
Loan against Gold / Silver / NSC / LIC Overdraft
11.50 12.00N
Share Overdraft 10.50 11.50 N
Consumer loans for domestic appliances
12.50 12.50N
Cosmo - Credit 12.50 12.50 NA
Surety Loan 12.50 12.50 NA
Education Loan
For Male Student
Study in India 11.00 11.00 NA
Study in Abroad 10.50 10.50 NA
For Female Student
Study in India 10.50 10.50 NA
Study in Abroad 10.00 10.00 NA
SME / Cosmo Working Capital Loan Scheme
12.00 12.50E+N
Mortgage Term Loan 12.00 13.00 E+N
Mortgage Overdraft 12.00 13.50 E+N
Solar water Heating System Scheme Scheme Closed
Cheque / Bills Purchase 18.00 18.00 NA
Builder / Promoter Finance 16.50 16.50 NA
Wind Mill Finance
Upto Rs.20 Crs. 12.00 12.5 N
Above Rs 20 Crs. 11.00 11.50 N
Vendor Finance (Hundi Discounting)
10.00 10.00 NA
Minor Community 11.00 11.00 NA
Group Housing (GL Code 80122):-
First 2 year (fixed)
Next 2 yrs (fixed)
Last 11 yrs (floating)
First 2 year (fixed)
Next 2 yrs (fixed)
Last 11 yrs (floating)
Rs.0.01 lacs to Rs 25.00 lacs 8.50 10.25 10.50 9.00 10.75 11.00 New for all 15 yrs & existing for Last 11 yrs
Above Rs 25.00 lacs to Rs 50.00 lacs
9.75 11.00 11.50 10.00 11.25 12.25
Floating Rate(GL Code 80121)
Rs.0.01 lacs to Rs 25.00 lacs 10.00 10.50 E+N
Above Rs 25.00 lacs to Rs 50.00 lacs
11.00. 11.50 E+N
Housing Loans(Floating Rates for existing customers) G.L. Code 80120
Upto Rs. 10.00 lacs 10.50 11.00 E+N
Rs 10,00,001/- to R 20.00 lacs 11.50 12.00 E+N
Lease Rental Discounting
I) Property Less then 50000 sq. fts. / advances less then Rs. 15 crores
13.00 13.50 N
ii) Property more then 50000 sq. fts. / advances more then Rs. 15 crores and less then Rs. 30 crores
12.50 13.00 N
iii) Property more then 50000 sq. fts. / advances above Rs. 30 crores
12.00 12.50 N
Other Loans
NBFCs / ARCs engaged in financing SSI and Agricultural Activities other NBFCs / ARCs
15.00 15.00 NA
L. C. Discounting our customers / other customers
9.50 9.50 NA
PROFITABILITY POSITION:-
Financial Strength (Rs. IN CRORES)Sr.No. Indicators 31/03/2009 31/03/20101 Deposits 6656 7213 2 Advances 3897 46223 Share Capital 87 924 Reserves 613 787
5 Net Worth 700 8796 Investments 2869 29447 Profit 90 558 Working Capital 7563 84339 Net NPA Percentage 2.08% 1.78%10 Over dues 5.42% 4.65%11 CRAR 12.40% 12.32%12 No. Of Branches 85 9613 No. Of Extention Counters 9 814 No. Of Employees 1832 199415 No. Of Members 53251 56160
Permissible Credit Exposure Limit
Single borrower credit exposure limit --- Rs. 85.00 crores
Group borrower credit exposure limit --- Rs. 228.00 Crores
Future plan of cosmos:-
Tie up with IDBI Bank for issuance of Demand Drafts: This facility will be helpful for issuing demand drafts on approximately 500 centers of IDBI Bank. In this facility we can issue the demand drafts to the customer having special demand for Nationalized Banks demand drafts for payment of custom etc.
NECS ( National Electronic Clearing System): In this system the ECS file will be uploaded centralized at MRO. Initially only the credit transactions will be uploaded. The settlement cycle for the same is one day only.
Future Plans The Cosmos Bank has the following plans for its Customer, which will be launched soon.
1. Internet Banking Facility
2. Mobile Banking Facility
3. Utility Terminal Facility