Kokan Mercantile Co - Operative Bank

What Kokan Mercantile Co - Operative Bank does

Kokan Mercantile Co-operative Bank Ltd. is a multi-state cooperative bank registered under the Multi State Co-operative Societies Act, 2002, headquartered in Mazgaon, Mumbai and originally established in 1969 as the Ratnagiri Mercantile Co-operative Credit Society with 105 founding members. It operates 14+ branches across Maharashtra — including Mumbai, Thane, Navi Mumbai, and the Konkan belt (Chiplun, Ratnagiri, Khed, Mandvi) — providing retail individuals, small businesses, and vehicle finance customers with a comprehensive suite of deposit and loan products. The bank offers housing loans (up to Rs. 10 lakh, 180-month tenure), vehicle loans, education loans, gold loans (up to Rs. 1 lakh at 12.00%), personal/unsecured loans (40 months at 16.00%), and commercial term loans (up to Rs. 25 lakh), alongside deposit schemes including savings, current, fixed, recurring, monthly/quarterly income, Lakhpati, Pigmy Daily, and education deposit accounts. It reports total business of Rs. 1,000 crores.

Name

Kokan Mercantile Co - Operative Bank

Legal name

Kokan Mercantile Co-operative Bank Ltd.

Website

https://kokanbank.net

Company type

Private

Founded year

1969

Operating status

Operating

Headcount range

101–250 employees

Short description

Kokan Mercantile Co-operative Bank is a multi-state cooperative bank in Maharashtra offering retail loans, deposits, and digital banking services to individuals and small businesses across 14+ branches since 1969.

Ownership category

akta.pro rank

Product category

Co-operative Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Co-operative banking
• Retail lending
• Deposit schemes
• Housing finance
• Small business loans

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices14 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on various loan products including housing loans, vehicle loans, education loans, gold loans, commercial loans, and personal/unsecured loans. Interest rates vary by product type.
2. Service Charges and Fees: Fee income from various banking services including account maintenance, transaction fees, KYC processing, and other service charges as per the bank's published fee schedule.
3. Deposit-Based Income: Income generated from accepting customer deposits through various schemes including savings accounts, current deposits, fixed deposits, recurring deposits, and specialized deposit schemes.
4. RTGS/NEFT Transaction Fees: Fees charged for electronic fund transfers through RTGS and NEFT systems
5. ATM Transaction Fees: Revenue from ATM transactions at the bank's ATM network across multiple branches

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Kokan Mercantile Co-operative Bank is a multi-state co-operative bank providing retail loans (housing, vehicle, education, gold, personal, unsecured), commercial loans (working capital, term loans), and a wide range of deposit schemes (savings, current, fixed, recurring, monthly/quarterly income, lakhpati, pigmy daily, education). It delivers these through 14+ physical branches across Maharashtra combined with modern digital services including Any Branch Banking, RTGS/NEFT, BBPS bill payments, EKYC, Rupay cards, and chat banking via WhatsApp and Telegram.

Product overview

Kokan Mercantile Co-operative Bank Ltd. is a multi-state co-operative bank offering a comprehensive suite of banking products and services. The bank's product portfolio includes retail loan products (Housing Loan, House Renovation Loan, Personal Loans, Education Loan, Gold Loan, Vehicle Loan), commercial loans (Working Capital, Term Loan), and deposit products (Savings Account, Current Deposit Account, Fixed Deposits, Recurring Deposits, Monthly/Quarterly Income Schemes, Lakhpati Deposit Schemes, Pigmy Daily Deposit, Education Deposit). Modern banking services include Any Branch Banking, ATM facilities, RTGS/NEFT transfers, BBPS bill payments, Rupay cards, SMS alerts, eKYC services, and chat banking via WhatsApp and Telegram. The bank operates as a traditional cooperative banking institution with physical branch network across Maharashtra.

Differentiator

Problem solved

Functional benefit

Products and services

• Housing Loan Housing loan for purchase of flat, construction of house, or tenements. Loan amount up to Rs. 10.00 Lakhs with tenure up to 180 months. Targeted at individual retail customers in Maharashtra seeking home financing.
• House Renovation Loan Loan product for house renovation and repairs. Targeted at individual homeowners needing funds to upgrade or repair existing residential property.
• Personal Loan - Salary Deduction Personal loan with salary deduction as repayment mode. Targeted at salaried individual customers seeking personal credit with automatic deduction from salary.
• Unsecured Loan Unsecured advances including clean overdrafts and loans against personal security. Term loan with 40 months tenure at 16.00% interest rate. Targeted at individuals needing credit without collateral.
• Education Loan Education loan at attractive interest rate with installment starting 1 year after completion of course and monthly interest payment. Targeted at students and parents funding higher education expenses.
• Gold Loan Term loan against gold collateral, up to Rs. 1.00 lac with 12 months tenure, offering 75% of gold valuation at 12.00% interest rate. Targeted at individuals seeking quick liquidity against gold ornaments.
• Vehicle Loan Vehicle/car loan with low fixed rates and no ongoing fees for purchasing vehicles. Targeted at individual customers and small businesses seeking automobile financing.
• Commercial Loan - Working Capital Business/general term loan for working capital requirements. Targeted at small businesses and traders in Konkan and Mumbai needing short-term operational funding.
• Commercial Loan - Term Loan Term loan for commercial purposes including land, building, machinery, motor launch, furniture, fixtures, and fixed assets up to Rs. 25.00 Lakhs. Targeted at small businesses seeking asset-backed business financing.
• Saving Bank Deposit Account Basic savings account product for deposit keeping. Targeted at individual customers for everyday banking and savings.
• Current Deposit Account Current deposit account for business and commercial customers. Targeted at small businesses, traders, and commercial entities for daily transactional banking.
• Monthly Income Deposit Scheme Deposit scheme with monthly income payouts. Targeted at retirees and individuals seeking regular monthly income from their deposits.
• Quarterly Income Deposit Scheme Deposit scheme with quarterly income payouts. Targeted at customers seeking periodic income on a quarterly schedule from deposits.
• Quarterly Interest Cum Reinvestment Plan Quarterly interest reinvestment plan for compound growth. Targeted at customers seeking compounding returns through quarterly reinvestment.
• Fixed Deposit Scheme Traditional fixed deposit product with guaranteed returns. Targeted at customers seeking safe, locked-in deposits with guaranteed interest.
• Lakhpati Deposit Schemes Deposit scheme designed to help customers accumulate wealth to become lakhpati. Targeted at retail savers seeking structured wealth accumulation.
• Education Deposit Scheme Deposit scheme specifically designed for education expenses. Targeted at parents planning ahead for children's education costs.
• Recurring Deposit Schemes Recurring deposit product for systematic savings with regular monthly installments. Targeted at salaried and individual customers building savings through monthly contributions.
• Pigmy Daily Deposit Scheme Daily deposit scheme for small savings accumulation. Targeted at small savers, daily-wage earners, and micro-savers in semi-urban and rural areas.
• Any Branch Banking Service allowing customers of any branch to perform cash deposit, cash withdrawal, funds transfer, and clearing cheque deposits at any branch of the bank. Targeted at all bank customers across Maharashtra for branch-agnostic banking convenience.
• CTS2010 Cheque Books Bank has introduced CTS2010 format cheque books at all branches with personalized cheque book issuance facility at Mumbai and Thane district branches. Targeted at account holders requiring RBI-compliant cheque clearing.
• ATM Facility ATM withdrawal facility available at 14 branches including Central Office, Mazgaon, Nerul, Thane, Govandi, Kausa-Mumbra, Jogeshwari, Chiplun, Kalyan, Vashi, Mira Road, Ratnagiri, Khed, and Mandvi. Targeted at all bank account holders for cash access.
• KYC Updation Service KYC compliance service allowing customers to update their basic information and KYC documents as per RBI guidelines. Includes eKYC portal at ekYC.kokanbank.net. Targeted at all account holders for regulatory compliance.
• PAN Card Preparation Service Facility at all branches to prepare PAN card through UTI Infrastructure Technology and Services Ltd at nominal charges. Targeted at customers needing PAN card issuance or updates.
• SMS Alert Services SMS alert service for customers to receive transaction notifications on their registered mobile numbers. Targeted at account holders wanting real-time transaction alerts.
• RTGS/NEFT Services Funds transfer services under RTGS/NEFT system through sub-membership arrangement with a leading bank. Available at all branches with assigned IFSC codes. Targeted at account holders needing electronic funds transfer.
• Rupay Card Rupay debit card with offers, cashback, and card request facility. Targeted at account holders for card-based payments and ATM access.
• BHARAT BILL PAYMENT SYSTEM (BBPS) Bill payment service for electricity, gas, mobile, water, DTH bills at any branch of the bank. Targeted at customers seeking utility bill payment convenience at branch level.
• Chat Banking Chat banking services via WhatsApp and Telegram for customer convenience. Targeted at digitally-engaged account holders preferring messaging-based banking queries.

Quantifiable outcome

• Rs. 1000 crores total business achieved
• +1 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature7 records

Partnerships

Three partnerships are on record, tiered core.

• Leading Bank (RTGS/NEFT Sub-membership)coreTechnology or IntegrationBank entered into sub-membership arrangement with a leading bank for prompt and speedy funds transfer under RTGS/NEFT system. All branches have been provided with IFSC codes enabling customers to conduct RTGS/NEFT transactions.
• DICGC (Deposit Insurance and Credit Guarantee Corporation)coreOthersBank is registered with DICGC for deposit insurance coverage, ensuring protection of customer deposits under the DICGC scheme.
• RBI (Reserve Bank of India)coreOthersMulti-state co-operative bank regulated by RBI. Provides RTGS/NEFT services, follows KYC guidelines, implements CTS2010 cheque standards, and operates under RBI supervision.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• NKGSB Co-operative Bank: Mumbai-headquartered multi-state cooperative bank with comparable retail deposit, housing loan, gold loan, and SME product offerings to retail and business customers in Maharashtra.
• Cosmos Co-operative Bank: Maharashtra-based multi-state cooperative bank offering similar deposit, loan, and digital banking services to retail and SME customers. Comparable product mix, branch-led model, and target customer base in western India.
• TJSB Sahakari Bank: Multi-state cooperative bank headquartered in Maharashtra serving retail and SME segments. Comparable multi-branch model, cooperative governance, and traditional deposit/loan product suite.
• Janata Sahakari Bank (Pune): Maharashtra-based multi-state cooperative bank with similar member-owned structure and retail/SME banking focus. Operates in overlapping western Maharashtra geography with comparable product breadth.
• Saraswat Co-operative Bank: Largest cooperative bank in Maharashtra, headquartered in Mumbai. Directly comparable as a multi-state urban cooperative bank offering deposits, retail loans, SME credit, and digital banking across overlapping Maharashtra geography with a similar member-owned structure.
• Shamrao Vithal Co-operative Bank (SVC Bank): Multi-state cooperative bank headquartered in Mumbai serving retail and SME customers in Maharashtra. Comparable cooperative structure, deposit/loan product suite, and Western India geographic concentration.
• Abhyudaya Co-operative Bank: Mumbai-headquartered multi-state cooperative bank offering deposits, retail loans, and SME lending. Comparable cooperative ownership model, urban Maharashtra branch footprint, and member-driven deposit franchise.

Broad incumbents

• Ujjivan Small Finance Bank: Listed small finance bank focused on microfinance, MSME, and retail deposits in semi-urban and rural India. Comparable small-ticket loan products and tier-3/tier-4 deposit gathering, but with formal banking license, digital app, and institutional capital.
• AU Small Finance Bank: Small finance bank with strong retail and SME lending franchise across India. Comparable focus on vehicle, housing, and MSME lending in semi-urban markets, but operates as a listed scheduled commercial bank with materially larger scale.
• Bank of Maharashtra: Public sector commercial bank headquartered in Pune with deep Maharashtra branch network. Competes for the same retail deposit, housing, vehicle, education, and SME loan customers in Konkan and Mumbai, but with vastly larger scale and PSU balance sheet.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/kokanbank.net
• LinkedInlinkedin.com/company/kokan-mercantile-co-op-bank-ltd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kokan Mercantile Co - Operative Bank