INTRODUCTION TO BANK A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits

into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses. Due to their critical status within the financial system and the economy generally, banks are highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.

Today finance is considered as life blood of trade, commerce and industry and bank money acts as the backbone of modern business. Development of any country mainly depends upon the banking system. The term bank is derived from the French word Banco which means a Bench or money exchange table. In olden days, European money lenders or money changers used to display coins of different countries in big heap on benches or tables for the purpose of lending or exchanging i.e banking industry is of an ancient origin but the emergence of modern banking dates back to the earlier period of industrial revolution. The establishment of Bank of England in 1694 is considered as milestone. DEFINITION:Oxford Dictionary defines a bank as "an establishment for custody of money, which it pays out on customer's order."

According to Banking Regulation Act, 1949: A banking company means any company which transacts the business of banking. Banking means the accepting for the purpose of lending or investment of deposit of money from the public, payable on demand or otherwise, and with and withdrawable by cheque, draft or otherwise.

INTRODUCTION TO SARASWAT BANK The Bank has a very humble but a very inspiring beginning. On 14th September 1918, " The Saraswat Co-operative Banking Society" was founded. Mr. J.K. Parulkar became its first Chairman, Mr. N.B. Thakur, the first Vice-Chairman, Mr. P.N. Warde, the first Secretary and Mr. Shivram Gopal Rajadhyaksha, the first Treasurer. These were the people with deep and abiding ideals, faith, vision, optimism and entrepreneurial skills. These dedicated men in charge of the Society had a commendable sense of service and duty imbibed in them. Even today, our honorable founders inspire a sense of awe and respect in the Bank and amongst the shareholders. The Society was initially set up to help families in distress. Its objective was to provide temporary accommodation to its members in eventualities such as weddings of dependent members of the family, repayment of debt and expenses of medical treatment etc. The Society was converted into a full-fledged Urban Cooperative bank in the year 1933. The Bank has the unique distinction of being a witness to History. The Bank, which was originally founded in 1918, i.e. close on the heels of the Russian Revolution, also witnessed as a Society and as Bank-the First World War, the Second World War, India's freedom MISSION STATEMENT "To emerge as one of the premier and most preferred banks in the country by adopting highest standards of professionalism and excellence in all the areas of working !!!" Movement and the glorious chapter of post-independence India. MILESTONES Thanks to these sustained and assiduous efforts over 25 years after its inception, the Bank had gained Strong foundation in terms of its membership, resources, assets and profits. By 1942, the Bank was fulfilling all the banking needs of its customers.

. Resultantly, in the year 1977-78, the Bank's gross income crossed the Rs.3.00 crore mark for the first time. The Beginning of the 21st Century has been a giant leap forward for the Bank. Bank chose a path of organic/inorganic growth and our pace of growth accelerated .Bank's total business which was around Rs 4000 Crore in 2000 almost tripled to Rs 15295 Crore in 2007. In 2011 Bank was granted permission for All India Area of Operation by Reserve Bank Of India. Bank has an an ambitious business expansion plan in place to have a presence in all major cities of the country, reach a business level of Rs 50000 Crores by 2016 and Rs 100000 by 2018.

TYPES OF DEPOSITS OFFERED BY SARASWAT BANK

SAVING DEPOSIT

A Savings Account for everyone to inculcate the habit of saving and avoid thrift. Bank offers you a host of convenient features and banking channels to transact through. Personalized service coupled with technology enabled products is the hallmark of our service. Types of saving deposits are: Elite saving deposit Elite gold saving deposit Saving for kids CURRENT DEPOSIT

Fasten your pace with a current account which offers you out of the world service experience by combining personalized service with many appropriately priced features. Our customer friendly staff will not leave any stone unturned to make your experience a memorable one. Internet Banking, SMS Banking all will allow you to Bank from the comfortable confines of your home and office. Types of current deposit: Platinum current deposit Elite current deposit FIXED DEPOSIT

Lumpsum amount is deposited at one time for specific period. Higher rate of interest is paid, which varies with the group of deposit. Withdrawals are not allowed before the expiry of the period. Those who have surplus funds go for fixed deposits. RECURRING DEPOSIT You can invest in small amounts every month and see the drop become an ocean. Through this account you can invest small amounts of money every month and end up with a large kitty on maturity. Bank also allows you facility to give standing instructions by which the amount is debited from your account every month.

LOANS It is normally for short term say a period of one year or medium term say a period of five years.nowadays,banks do lend money for longer term.repayment of money can be in the form of installments spread over a period of time or in a lumpsum amount.interest is charged on actual amount sanctioned,whether withdrawn or not.The rate of interest may be slightly lower than what is charged on overdraft and cash credits.Loans are normally secured against tangible assests of the company.

TYPES OF LOANS OFFERED BY SARSWAT BANK

PERSONAL LOANS These are given to individual customers for meeting their personal requirements.These loans are repayable in monthly installments.Saraswat cooperative bank offers various loans to its customers.Bank takes care of its customers by offering comprehensive loan packages at extremely competitive rates, without any hidden cost.Our personalized service coupled with state of the art technology at absolutely market competitive rates shall make your banking experience truly memorable one.The types of personal loans are as follows: Privilege loan: privilege loan is for personal expenses and only individuals employed with reputed public limited companies and repayment can be done maximum in 60 months Samruddhi scheme: samruddhi scheme is to meet urgent financial needs of individuals and overdraft facility is subject to renewal every year. Multi-purpose loan: muti purpose loan is for purchase of consumer durables, computer, two wheelers, house repairs, medical/ travels/ education/ other expenses. maximum loan amount is Rs 2 lakhs EDUCATION LOAN The purpose of this loan is for studies in India or abroad.The applicant of this loan is the parent of the student.student will be the co-applicant.The amount of

loan for education in India is maximum Rs 10 lakhs and maximum amount is Rs 20 lakhs for education abroad. the period for repayment of such loan is maximum 144 months inclusive of moratorium period of maximum 36 months.The rate of interest charged on such loan is 14.5% p.a. Atleast two guarantures are required for application of loan up to Rs 2 lakhs. The security of Rs 2 lakhs and two gurantures for the application of loan above Rs 2 lakhs and upto Rs 5 lakhs for application of loan above Rs 5 lakhs and upto Rs 20 lakhs securities required are Tangible security like lic, nsc, kbp, gold, rbi bonds or fd's with the bank . morgage of un encumberad . one or more personal gurantes depending on the merits of the proposal.

0.5% of the loan amount is charged as processing fees for studies in abroad. documents required for application of education loan are duly filed application form admission related documents such as. offer letter from universities/ college/ institue stating details of course and admission procedure in case of students going to usa than admission letter is required passport copy ( in case of education abroad) or identify proof. latest academic marksheet. work experince proof if any.

loan related documents such as kyc documents of applicants and guranters such as pancard , address proof, photograph

 for salaried persons copies of salaries slip for last three months, bank account statement for last six months, itr in form 16 for last three years. for businessman/ professionals copies of last three years audited profit and loss and balance sheet, itr with computation for last three years. bank account statement for last 6 months.

VEHICLE LOAN
The purpose of this type of loan is for purchase of new cars .The eligibility for such type of loan is

 salaried person with one year confirmed sevice. Bussinessman, professionals and commerical organisation. The repayment for salaried class for this loan is maximum up to 84 months and the repayment for business class is maximum up to 60 months. The security for this loan is hypothecation of vehicle and gurantor depending on merits of the proposal. The processing fees for this loan is 0.5% of the loan amount.

HOME LOANS

Vastu Siddhi home loan For construction of house/ flat Purpose Purchase of ready built house/ flat/ old flat not more than 30 years in Mumbai, 15 years elsewhere

For takeover of housing loans from other banks/ institutions

 Salaried Employees/ Businessmen/ Professionals having regular source of income. Eligibility Applicant in the age group of 21 years 50 years

Salaried employees should have minimum 2 years of confirmed service with minimum net take home salary (net off all EMIs) of Rs.8000/Where home loans are taken over from other Bank/ FIs, top up loan upto 20% or maximum Rs.5 lacs can be granted

Maximum Rs. 70 lacs Loan Amount

Upto Rs. 25 lacs (i) Or (ii) whichever is less (i) 85% of Cost of flat + Stamp Duty + Registration OR Cost of land & construction thereon (ii) 60 times of the Average Net Salary (Salaried person) or 3 times of Average Net Cash Accruals (Businessman / professional) Basis of Advance Above Rs. 25 lacs (i) Or (ii) whichever is less (i) 80% of Cost of flat + Stamp Duty + Registration OR Cost of land & construction thereon (ii) 60 times of the Average Net Salary (Salaried person) or 3 times of Average Net Cash Accruals (Businessman / professional)

100% Loan can be given if the required margin is kept in the form of Fixed Deposit/ NSC/ KVP/ LIC policy/ Government Securities

Maximum 20 years for salaried individuals Maximum 7 - 10 years for businessmen Repayment In case of salaried borrower - holiday for the repayment of principal maximum up to 12 months or date of possession of house whichever is earlier

Various repayment options such as Progressive, Step-up and Bullet repayment available

Loan amount Upto Rs.15 lacs Above Rs.15 Lacs to Rs. 25 lacs Above Rs. 25 lacs

Fixed rate p.a. 11.75% (PLR 2.75%) 12.00% (PLR 2.50%) 12.25% (PLR 2.25%)

Floating p.a.

rate

10.75% (PLR 3.75%) 11.00% (PLR 3.50%) 11.25% (PLR 3.25%)

Rate of Interest

Rate of interest for Top-up loans, will be additional rate of 1% over applicable rate for housing loan Present PLR @ 14.50% p.a. Security Personal Guarantee Mortgage of house property to be purchased If required based on merits of the proposal Loan amount Upto Rs.15 lacs Processing Fees Above Rs.15 Lacs to Rs. 25 lacs Above Rs. 25 lacs Shareholding Processing Fees Rs. 2000/Rs. 5000/Rs. 10000/-

2.50% of loan amount, Maximum Rs. 25000/ Borrower must specify interest rate option (fixed/floating) prior to disbursement of loan Borrower cannot switch from one Interest option to another for a period of 4 years from 1st disbursement

Conversion from Floating rate to Fixed rate or vice versa

1% of the outstanding balance subject to satisfactory repayment record for at least one year

Additional Conditions construction House

Cost of the site / land should not exceed 65% of the total cost of the project for of

Construction to commence within 12 months from purchase of plot and to be completed within next 12 months (i.e. Total within 24 months from purchase of plot)

Duly filled Loan Application Form Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors For salaried person, copies of (i) Salary slip for last 3 months (ii) Bank Account statement (where Salary is credited) for last 6 months (iii) ITR & Form 16 for last 3 years For businessman / professional, copies of (i) Last 3 years Audited Profit & Loss & Balance Sheet (ii) ITR with Computation of Income for last 3 years (iii) Bank Account Statement (related to business/profession) for last 6 months. Documents for creating mortgage as per list to be provided by the Bank Comprehensive Insurance of assets charged to the Bank

Documents Required

Insurance

Optional Life Insurance cover at concessional rates

SERVICES(FACILITIES) OFFERED BY SARASWAT BANK VISA Debit Card To add to your convenience , your Bank has tied up with VISA for issuing Debit Card. VISA has a long-standing name in the banking industry in India as well as abroad. Visa is a reliable, international brand. Debit Card is basically a convenience card which can be used at a POS for making purchases at Merchant Establishments. This card can also be used as an ATM card for withdrawing cash at all the ATMs bearing VISA logo in India and aboard. Debit Cards This card can be used as an ATM card for withdrawing cash at the following ATMs: a. b. c. d. Saraswat BANCS NFS Visa ATMs ATMs Bank (shared (shared enabled ATMs network) network) ATMs

Debit Card looks similar to a credit card, bearing a Visa logo, and can be used wherever the card's brand name is displayed. Debit card can be used at Domestic as well as International ATMs, POS machines bearing the Visa logo at merchant establishment and for Purchases/Ticket Booking through Internet that use a secured e-Commerce Payment Gateway. To register for Verified by Visa (VbV) click here

Debit card can be used upto the balance available in the account of cardholder. The maximum amount for transaction (Point of Sale + Online + ATM) is maintained at Rs 25000/- per day. e.g. a. ATM Cash withdrawal Rs 10,000/- + POS transaction Rs 10,000/- + Online transaction Rs 5,000/-

b. ATM Cash withdrawal Rs 25,000/- + Nil POS transaction + Nil Online transaction c. Nil ATM Cash withdrawal + POS transaction Rs 10,000/- + Online transaction Rs 15,000/d. Funds Transfer in linked accounts on our Bank's ATMs ONLY. Benefits to You: a. Facilitates electronic transactions and saves the customer from carrying cash or withdrawing cash. b. Provides access to merchant establishments, eCommerce transactions and ATM access. c. Offers the customers safety and security.

d. Extensive usage across a number of establishments as VISA is widely recognised in all leading departmental stores, eCommerce sites and retail outlets all over the world. e. Helps customer stay in control as it tracks their expenses. f. In case of international traveler, it can save the customer from having to stock up on traveller's cheques or cash when he/she travels. g. Debit cards may be more readily accepted than cheques, especially in other states or countries as one need not verify the authenticity of the payment and the merchant is assured of immediate payment. Mobile Banking Saraswat Bank has introduced Mobile Banking. Bank has started forwarding various messages to its customers on their mobile a. Debit / Credit Transaction Message for amount of Rs.5000/- & above. b. Term Deposit maturity intimation (7 days prior to maturity) c. Inward Cheque Returned Intimation. d. Outward Cheque Returned Intimation. e. Account overdrawn intimation. f. Greetings / Promotional messages g. New product launch message

Easy Pay Here is one more exciting facility your Bank has offered to relieve you, our esteemed client, from spending your valuable time standing in a queue for routine utility bill payments. All you have to do is to walk into any of our branch and register yourself under : Easy Pay" scheme for all your recurring utility bill payments such as Telephone, Electricity Bills, Cellular Phone Bills, Insurance Premium & many more. Once you are registered all your future bills will be paid automatically through your bank account with us. So do visit the nearest branch for few formalities & say "Good Bye" to all the hassles of making routine utility bill payments.

Insurance It is our earnest endeavour to offer suite of new and competitive financial products and services.We have for this purpose tied up with various insurance companies. The details of tie-up and products offered are given below: LIFE INSURANCE We are the Corporate Agents for the distribution of Life Insurance products, of M/S HDFC Standard Life Insurance Co Ltd. Under this tieup arrangement, we offer following life insurance products: Protection Plans

Protection Plans help to shield your family from uncertainties in life due to financial losses in terms of loss of income that may dawn upon them incase of your untimely demise or critical illness. Protection Plans go a long way in ensuring your familys financial independence in the event of your unfortunate demise or critical illness. They are all the more important if you are the chief wage earner in your family. No matter how much you have saved or invested over the years, sudden eventualities, such as death or critical illness, always tend to affect your family financially apart from the huge emotional loss. Childrens Plan

Childrens Plans help to save,so that you can fulfill your childs dreams and aspirations. These plans go a long way in securing your childs future by financing the key milestones in their lives even if you are no longer around to oversee them.

Childrens Plans help you save steadily over the long term so that you can secure your childs future needs, be it higher education, marriag e or anything else. A small sum invested by you regularly can help you build a decent corpus over a period of time and go a long way in providing your child a secured financial future alongwith . Retirement Plans

Retirement Plans provide you with financial security so that when your professional income starts to ebb, you can still live with pride without compromising on your living standards. By providing you a tool to accumulate and invest your savings, these plans give you a lump sum on retirement, which is then used to get regular income through an annuity plan. Given the high cost of living and rising inflation, employer pensions alone are not sufficient. Pension planning has therefore become critical in today's world. Savings and Investment Plans

You have always given your family the very best. And there is no reason why they shouldnt get the very best in the future too. As a judicious family man, your priority is to secure the well-being of those who depend on you. Not just for today, but also in the long term. More importantly, you have to ensure that your familys future expenses are taken care, even if something unfortunate were to happen to you. Our Savings & Investment Plans provide you the assurance of lump sum funds for your and your familys future expenses. While providing an excellent savings tool for your short term and long term financial goals, these plans also assure your family a certain sum by way of an insurance . Health Plans

Health plans give you the financial security to meet health related contingencies. Due to changing lifestyles, health issues have acquired completely new dimensions becoming more complex in nature. It becomes imperative then to have a health plan in place, which will ensure that no matter how critical your illness is, it does not impact your financial independence. Mutual Fund Considering the changes in Indian demographics (more than 70%of the population below the age of 35), changes in investment pattern (rising disposable incomes created a huge potential for investment in Insurance and Mutual Funds), increased competition and thinning of Interest margins, the Indian Banking Industry had to redesign their bouquet of products and introduce marketing of third party products like Insurance and Mutual Funds, to increase fee based income.

To encash on this sentiment, our bank has entered into the Mutual fund distribution business 5 years back and today we have a successful tie up with 21 fund houses with total funds invested at around Rs 100 crores. The Mutual Fund industry currently has 35 Fund houses with 1800 schemes spread across 30 different categories. During this financial year the industry saw 900 new fund offers(equity, debt, liquid and Fixed Maturity Plans included).The AUM (Asset Under Management) of the Mutual fund industry closed at Rs 5,67,60 Cr on April 2008. The major fund houses are as follows: FundHouse Birla Sunlife Mutual Fund Franklin Templetoin Mutual Fund HDFC Mutual Fund ICICI Prudential Mutual Fund Kotak Mahindra Mutual Fund Principal PNB Mutual Fund Reliance Mutual Fund Tata Mutual Fund UTI Mutual Fund

Other Bank (NFS) Network Bank has joined National Financial Switch (NFS) on 15 th October 2010 for providing ATM access to our customers across India.NFS is the network which facilitates routing of ATM transaction through inter connectivity between banks switches thereby enabling customers to utilize any ATM of a connected bank. Under this arrangement 75178 plus ATMs of 54 member banks are available to our customers using our Banks cards, both the ATM as well as the VISA debit card.The details of the Banks are as under: List of NFS Banks Nationalised Bank

SR NO 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21

Bank Name State Bank of India Punjab National Bank Union Bank of India Canara Bank Bank of Baroda IDBI Bank Syndicate Bank Bank of India Corporation Bank Oriental Bank of Commerce Indian Bank Andhra Bank Indian Overseas Bank Central Bank of India UCO Bank Vijaya Bank Dena Bank Bank of Maharashtra United Bank of India Karnataka Bank Allahabad Bank

Private Bank

22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42

ICICI Bank HDFC Bank Axis Bank Federal Bank Kotak Mahindra Bank IndusInd Bank Citi Bank Dhanalaxmi Bank South Indian Bank Karur Vysya Bank Standard Chartered Bank Jammu and Kashmir Bank Yes Bank Ltd Laxmi Vilas Bank City Union Bank Catholic Syrian Bank Development Credit Bank Punjab and Sind Bank Barclays Bank Bank of Bahrain and Kuwait ING Vysya Bank Total Cooperative Banks

43

The

saraswat

co-operative

bank 44 45 46 47 48 49 50 51 52 53 54 Tamilnad Merchantile Bank Cosmos Co-op Bank Shamrao Vitthal Co-op Bank Abhyudaya Co-op Bank Thane Janata Sahakari Bank Ltd Punjab and Maharashtra Coop Bank Dombivali Bank Nagrik Sahakari

Ratnakar Bank Mahanagar Bank Kalyan Janata Sahakari Bank Janata Sahakari Bank

DEMAT

compulsory

for

all

demat

(PAN accounts)

Modernisation in the trading and settlement system has been witnessed in the

capital market through automated trading mechanism of Demat. The advent of Electronic trading and settlement has brought in transparency in trading and has eliminated risks associated with Bad Delivery and handling huge load of paperwork. The country has made a remarkable growth in the capital market by switching over to electronic trading DEPOSITORY PARTICIPANT CELLSaraswat Co-operative Bank Limited is a Depository Participant with National Securities Depository Ltd (NSDL) and Central Depository Services Ltd (CDSL). Salient Features :

Saraswat Bank offers the following attractive features to its clients : Free AMC for one year. Option of both CDSL and NSDL facilities Portfolio valuation to the customers Free SMS facility Free Ideas facility (viewing facility of statement of holding and transaction) Speed-e facility for NSDL online transfer of shares. Free easi fcility for CDSL clients for viewing of shares. Easiest facility for CDSL clients for Online transfer of shares Demat facility from any branch Demat account opened within 24 hours for Mumbai branches Attractive and competitive tariff structure Basic merits of holding a demat account.: Holding of equity shares and mutual fund units in demat form. Electronic credit in public issue Credit of Rights/ Public Issues/Bonus entitlements through Auto Corporate Action Dividend credit through ECS Immediate transfer and registration of securities Elimination of all risks associated with physical certificates Elimination of Bad deliveries Faster settlement cycles No stamp duty on transfer of securities Facilities ease in recording change of address, transmission , signature, dividend mandate, registration of power of attorney etc. across companies held in demat form by a single request instruction to Demat department. Viewing of Holding /Transaction through internet (Ideas/easi facility)

 Pledging of securities