0824 4118009
mahaveeraho@gmail.com
Updates

Message from Chairman

Dear All

At the outset, I would like to extend my sincere thanks to the Board of Directors, Members, and my beloved staff members for their wholehearted support to our organization to emerge as one of the strongest cooperative Societies in Dakshina Kannada and Udupi District. It is my pleasure to congratulate you on this occasion of the concluding of the financial year 2022-23.

In any vibrant organization, and to be precise, in a cooperative society, a reasonably good performance in key areas of banking alone will yield the desired results. The cooperative sector, because of its powerful business model, has been playing a distinct and significant role in the process of the socio-economic development of the country. We have proved this after serving the people of our two Districts Dakshina Kannada and Udupi for two decades.

To extend the advantages of the latest technologies to our customers, we have embarked upon the latest delivery channels like NEFT, RTGS, IMPS and heading towards ATM, Mobile Banking and Internet Banking, etc. towards our social responsibility. We have added various popular schemes to our customers, especially Jewel Loans and vehicle loans which have become very popular in a very short time. I am really happy to note that our Depositors are very happy with our service and the yield on their hard-earned money.

With great pleasure, I would like to declare that we are planning to open new branches in other districts and State Capital while we march toward our Silver Jubilee Celebration.

Sri P P Hegde
Senior Advocate, High Court of Karnataka
Chairman
Mahaveera Credit Cooperative Society Ltd.

DEPOSITS & LOANS

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FIXED DEPOSIT ACCOUNT

Info Details
PERIOD OF DEPOSIT Minimum 46 days Maximum 120 months
INTEREST RATE Depending upon the period of the deposit as prevailing from time to time. Monthly (at discounted rates), Quarterly, Half- yearly or Annual intervals as per depositor's choice
LOAN FACILITY Available up to 80% of the deposit amount
PENALTY FOR PRE-MATURE CLOSURE Premature payment is allowed subject to penalty of lower interest.
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SAVINGS ACCOUNT

Info Details
MINIMUM BALANCE Rs.200/-
INTEREST RATE 3.00% p.a., Interest is payable Annually.
APPLICATION AND DOCUMENTS Application, Specimen Signature Card, Photograph of depositor/s (2 copies), Proof of address as per KYC Norms, Any other related documents applicable to Students, Minor, HUF, Trusts etc.
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RECURRING DEPOSIT

Info Details
Requirements for Opening Account The requirements for opening of accounts are the same as mentioned under Savings Accounts
Minimum amount Rs. 500/- per month.
Interest Rate 1 to 3 year - 9% , 3 years & above - 9.50%
Premature payment Premature payment is allowed subject to penalty of lower interest.
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GOLD LOAN

Info
Scheme with the lowest rate of interest (8.5 %.)
Maximum per gram rate Rs.4900/-* & Loan Value offered
Quick loan disbursal & Top -up service
Part payment and part release options
Free insurance for pledged gold ornaments
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MORTGAGE LOAN

Sl.No Name Interest Tenure
1 Secured Loan 16% PA 60 MONTH
2 Personal Loan 16% PA 24 MONTH
3 Mortgage Loan 14% PA 120 MONTH
4 Housing Loan 12% PA 120 MONTH
5 Overdraft Loan 14% PA 12 MONTH
6 Deposit Loan Add 2% PA on FD Rate of Int. MINIMUM 7 DAYS
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VEHICLE LOAN

Sl.no Name Interest Tenure
1 New vehicle Loan 11% PA Maximum Period 60 months

MANAGEMENT

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Sri P P Hegde,
(Senior Advocate, High Court of Karnataka)

President

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Sri. K. Suresh Ballal,

Vice President

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Sri. P. Jinaraja Ariga, Bantwal

Director

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Sri. Rathnakar Raja Arasu Kinyakka Ballal, Padubidri

Director

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Sri. S.D Sampath Samrajya, Shirthadi

Director

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Sri. Mahaveera Hegde, Karkala

Director

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Sri. Vardhaman Jain, Karkala

Director

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Sri. Niranjan Kumar Jain, Karingana

Director

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Sri. Udith Kumar Jain, Belthangadi

Director

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Smt. Vijaya Kumari Indra, Paanemangalore

Director

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Smt. Surekha R. Hegde,

Director

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Sri. Jayakeerthi Jain, Dharmasthala

Director

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Sri. Darshan J.,

Director

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Sri. Prashanth Kumar,

Director

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Sri. Rajesh Kumar Amtady,

Director

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Sri. Raghavendra Rao,

Director

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Sri. Yashodhar Jain,
Puttur

Director

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Sri. P Jayaraj Kambali, Moodbidri

Director

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Sri. Praveen Kumar Indra, Ujire

Director

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Sri. Jivandhar Jain, Puttur

Director