North Kanara G S B Co Operative Bank

The North Knara G.S.B. Co-operative Bank was started in 1917, and it is one of the multi-state scheduled financial institutions in India. Soon after the inception, the bank expanded to most of the Indian states over the next few years, right from Gujarat, Goa, down to Maharashtra, Karnataka, Daman & Diu and Nagar Haveli.

The bank has been in existence for more than 90 years now, and it expanded in both quantitatively and qualitatively. They have also expanded their portfolio with respect to credits and investments.

North Knara G.S.B. Co-operative Bank boasts of wide range of products that meets the requirements of all segments of customers. It has got a very good reputation from the comprehensive finance services. It also offers various loans ranging from Small & Medium to personal enterprises, down to professional business loans to corporate, personal loans to individuals, and much more.

Products and Services

The bank offers different services and products that cater to the needs of all categories of customers. Let us take a better look at the major products and services provided by the North Knara G.S.B. Co-operative Bank -

Savings Deposits: The chief objective of savings deposits is to allow customers to accumulate their savings, be it huge or a very small amount, and keep them liquidated and safe.

Savings accounts offered by North Knara G.S.B. Co-operative Bank include –

  • Dignity savings,

  • Student power,

  • No frill account,

  • Super saving, and

  • NRE saving account.

Current Accounts: Current deposits are very much ideal for daily business transactions. The account may be accessed anytime and payments can be made via local cheques, demand drafts, or At-Par cheques.

They offer following accounts to businesses –

  • Normal Current Account,

  • Gold Plus, and

  • Platinum plus.

Sole proprietorship firms, individuals, partnership firm, public limited or private firms, semi-government bodies, government, and other departments are entitled to operate and open current accounts.

Term Deposits: There are various term deposits that match the customer requirements and future plans. Customers are allowed to get loan against the funds deposited too.

Term deposits can be of short term, recurring deposit, fixed deposit and other few to name.

The 5 year Annapurna Tax Benefit deposit scheme entitles you to claim tax deductions under Section 80(c), on the Income Tax act, up to Rs 1lakh.


The bank is recognized as the imbursement associate and it is a settlement gateway of RBI via INFINET and RTGS network. The set up is completely assisted by Electronic Fund Transfer and Electronic Cheque Clearing and offers quick allowances and immediate cash attainment.


The bank also offers a variety of advances and loans such as personnel loans, home loans, vehicle loan, mortgage loan, life cycle banking schemes to name a few -

Home Loan: Home loans can be availed up to 50 Lakhs and the PLR for the loan will be 14.25 percent.

Vehicle Loan: Customers can get vehicle loans up to 90 percent of the ex-showroom price for a new one, and 70 percent of the price for a used vehicle.

Personal Loan: Personal loan can be obtained by salaried customers, as well as businessmen. The quantum of loan is fixed up to 2 Lakhs, though higher amounts may be sanctioned against securities.

Educational Loan: Educational loan can be availed with simple documentation and at attractive interests. Students can get Rs. 15 Lakhs for higher studies in India and Rs. 20 Lakhs for higher studies abroad.

Consumer Loan: Consumer loans up to one lakh rupees can be availed on-the-spot with simple documentation. Interest for consumer loan is charged on daily basis, and it may vary from 15-20% per annum.

To avail all these loans, customers should have at least two guarantors.

Value Added Facilities

The bank offers facilities like Demat, insurance, desk drawing, non-insurance, safe deposit locker, and I-connect; also the bank North Knara G.S.B. Co-operative Bank also offers different tools like deposit calculator, loan eligibility calculator and EMI Calculator. Internet banking services will soon be launched, and the bank’s website is also being revamped at the moment.

Cards Offered

The NKGSB co-operative bank offers free ATM card for savings deposit, student power, dignity saving, super saving, NRE saving account, and no-frill accounts, but they don’t offer any international debit or credit cards at this point in time.

Of late, 11 new branches were inaugurated on 10th Nov, 2011, in Mumbai, and the North Knara G.S.B. Co-operative Bank is expanding at a brisk pace, to say the least.