Karad
Karad Urban Co-operative Bank Ltd. is a 100+ year-old scheduled cooperative bank headquartered in Karad, Maharashtra, serving approximately 270,069 customers through 56 branches with retail, business, and special loan products, deposits, and digital banking via the SakalPay app and WhatsApp Banking.
- Company typePrivate
- Founded1917
- HeadquartersKarad, India
- Headcount1,001–5,000
- GTM typeB2B and B2C
- OfferingServices
What Karad does
The Karad Urban Co-operative Bank Ltd. is a scheduled cooperative bank headquartered at 516/2 Shaniwar Peth, Shahu Chowk, Karad 415110, Maharashtra, India, operating under the Banking Regulation Act, 1949 and the Maharashtra State Co-operative Societies Act, with over 100 years of continuous operation. The bank serves approximately 270,069 customers through a 56-branch network across Maharashtra, offering a comprehensive suite of retail loans (personal, housing, educational, vehicle, gold, unsecured, laptop, solar), business loans (agriculture, working capital, machinery, term loans, cash credit), special inclusion-focused loans (Women Loan, Saksham Patdharak for differently-abled, Self Help Group / Bachat Gat), four government subsidy-linked schemes, and seven deposit products (savings, current, fixed, recurring, reinvestment, pension, pigmy). Digital delivery is anchored on the proprietary SakalPay mobile banking app (Android and iOS), WhatsApp Banking via 8805599199, QR Code merchant acceptance, Aadhaar-linked accounts, ATM banking, and RTGS/NEFT transfers. As a member-owned cooperative under RBI supervision and DICGC deposit insurance coverage, the institution monetizes primarily through net interest spread on advances, deposit mobilization float, and transaction/service fees, while leadership rests with CEO Dilip Mahadev Gurav and a Board of Directors.
Revenue is generated from three streams: interest income on the diversified loan book (retail, business, and special categories), float and fee income on the deposit base (savings, current, fixed, recurring, pension, pigmy), and transaction/service charges on digital and branch-based operations including RTGS/NEFT and ATM usage. Pricing follows a unit-pricing model with disclosed rates such as 8% per annum on two-wheeler vehicle loans up to Rs. 5 lakh. The go-to-market motion is direct-to-consumer via the bank's own branch infrastructure and self-serve digital channels, targeting retail individuals, agricultural borrowers, MSMEs, women entrepreneurs, and underserved communities in semi-urban and rural Maharashtra.
Karad firmographics
Firmographics- Name
- Karad
- Legal name
- The Karad Urban Co-operative Bank Ltd.
- Website
- https://karadurbanbank.com
- Company type
- Private
- Founded year
- 1917
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Karad Urban Co-operative Bank Ltd. is a 100+ year-old scheduled cooperative bank headquartered in Karad, Maharashtra, serving approximately 270,069 customers through 56 branches with retail, business, and special loan products, deposits, and digital banking via the SakalPay app and WhatsApp Banking.
- Ownership category
- akta.pro rank
Karad industry classification
Industry- Product category
- Co-operative Banking
- NAICS
- Commercial Banking (522110), Credit Unions (52213)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- Municipal/Local Government Development Banks (FSABAKAI)
Keywords
Where Karad is headquartered
LocationHeadquarters
- HQ city
- Karad
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Karad business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Loans: Primary revenue stream from interest charged on various loan products including retail loans (personal, housing, educational, vehicle, gold, unsecured, laptop), business loans (agriculture, working capital, machinery), and special loans (women, differently-abled, SHG).
- Deposit Services: Revenue from various deposit products including savings, current, fixed, recurring, reinvestment, pension, and pigmy deposits, generating fee income and float benefits.
- Digital Banking Services: Income from digital banking services including mobile banking, ATM transactions, RTGS/NEFT transfers, and service charges on various banking operations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Vehicle Loan - 8% starting rate for two-wheelers up to Rs. 5 lakh |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Karad product offering
Product offeringCore offering
The Karad Urban Co-operative Bank Ltd. is a scheduled co-operative bank providing retail loans (personal, housing, educational, vehicle, gold, solar, laptop), business and agricultural loans, deposit products (savings, current, fixed, recurring, pension, pigmy), and digital banking services through its SakalPay mobile app, WhatsApp banking, QR code, ATM, and RTGS/NEFT channels. It also distributes government subsidy-linked schemes and offers specialized loans for women, differently-abled persons, and self-help groups across its 56 branches in Maharashtra.
Product overview
The Karad Urban Co-operative Bank Ltd. is a scheduled commercial bank headquartered in Karad, Maharashtra, providing a comprehensive suite of banking products and services. The bank operates on a platform-plus-services model with three core pillars: Retail and Business Loans (including Personal Loans, Housing Loans, Agricultural Loans, Vehicle Loans, Gold Loans, Solar Loans, Women Loans, and specialized schemes like Saksham Patdharak for differently-abled persons), Deposit Products (Savings, Current, Fixed, Recurring, Reinvestment, Pension, and Pigmy Deposits), and Digital Banking Channels (SakalPay Mobile Banking App, WhatsApp Banking, QR Code payments, Aadhaar-linked accounts, ATM services, and RTGS/NEFT transfers). The bank also offers government subsidy-linked schemes (Credit Linked Capital Subsidy, PM Suksham Anna Prakriya) and trustee/executor services. With 56 branches and a business mix of Rs. 5,016 Cr serving 270,069 customers, the bank combines traditional cooperative banking with modern digital services.
Differentiator
Problem solved
Functional benefit
Brands
- SakalPay: Mobile banking application for Karad Urban Co-operative Bank customers, available on Android and iOS platforms.
Products and services
- Personal Loan Unsecured personal loan for individual financial needs including medical emergencies, travel, weddings, and other personal expenses, available to retail customers of the bank.
- Housing Loan (Karad Urban Vastupurti Gruh Karj Yojana) Loan for house/flat purchase, construction, and plot purchase, with a dedicated housing loan scheme for differently-abled persons. Targeted at individual homeowners.
- Educational Loan (Urban Vidyajyoti Educational Loan Scheme) Loan covering college admission fees, college education fees, and hostel expenses for students pursuing higher education.
- Vehicle Loan (Karad Urban Vehicle Loan Scheme) Vehicle financing with 8% rate of interest for two-wheelers up to Rs. 5 lakh, including e-vehicle loan options for individual borrowers.
- Gold Loan Loan against gold ornaments and jewelry as collateral for quick access to funds, targeted at retail borrowers seeking short-term liquidity.
- Solar Loan (Karad Urban Akshay Urja Loan Scheme) Loan for solar and renewable energy systems for both personal and commercial use, promoting sustainable energy adoption.
- Agriculture Loan (Karad Urban Krushi Sanjivani Loan Scheme) Agricultural loan for farm development, construction of market yard, and other farming-related financing needs for farmers and agricultural businesses.
- Business Loans (Udyogvardhini Karj Yojana, Working Capital, Cash Credit, Term Loan, Machinery, Urban Rent Discounting, Pledge Cash Credit) Suite of business financing products for MSMEs, proprietary firms, and partnership businesses, including working capital term loans, machinery financing, urban rent discounting, pledge cash credit, and the Udyogvardhini Karj Yojana for urban entrepreneurs.
- Special Loans (Women Loan, Saksham Patdharak Karj Yojana, Self Help Group Loan) Specialized loan schemes for women entrepreneurs (up to Rs. 1 lakh, tenure up to 7 years), differently-abled persons (Saksham Patdharak Karj Yojana), and self-help groups (Bachat Gat) for community-based financial inclusion.
- Deposit Products (Savings, Current, Fixed, Recurring, Reinvestment, Pension, Pigmy) Comprehensive suite of deposit accounts including savings accounts for individuals, minors, and HUFs; current accounts for proprietary and partnership firms; fixed and reinvestment deposits for guaranteed returns; pension deposits for senior citizens; recurring deposits for systematic savings; and pigmy deposits for small savers collected door-to-door.
- SakalPay Mobile Banking Secure proprietary mobile banking application available on Android (Google Play) and iOS (Apple App Store) for account management, fund transfers, balance inquiries, and transactions.
- WhatsApp Banking Secure and interactive banking service accessed through WhatsApp messaging, allowing customers to perform account inquiries and basic transactions via the bank's WhatsApp business number.
- ATM Banking and RTGS/NEFT Transfers Network of ATMs for cash withdrawals and balance inquiries, plus electronic fund transfer services via Real-Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) for domestic transfers.
- QR Code (Credit Only) Merchant Payment Acceptance QR code-based payment acceptance service for merchants to receive credit card payments quickly and securely at the point of sale.
- Trustee and Executor Services Professional trustee and executor services including preparation of wills and trust management for individual customers.
- Government Subsidy-Linked Schemes (Credit Linked Capital Subsidy, Karad Urban Arthik Vikas, Karad Urban Rojgar Nirmiti, PM Suksham Anna Prakriya) Government-subsidized credit schemes for technology upgradation in small-scale enterprises, urban economic development, employment generation, and food processing enterprises under the PM-Kisan initiative.
Companies that use Karad
Customer profileSegments6 records
Ideal customer profiles3 records
Karad technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature3 records
Karad partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights5 records
Karad competitors and assessment
Company assessmentDirect peers
- TJSB Sahakari Bank: Maharashtra-based urban co-operative bank offering comparable retail, business, and agricultural loans with co-operative governance structure.
- Saraswat Co-operative Bank: One of India's largest urban co-operative banks, headquartered in Mumbai. Directly comparable as a scheduled co-operative bank offering retail loans, business loans, deposits, and digital banking to a similar customer base across Maharashtra and beyond.
- Cosmos Co-operative Bank: Large Maharashtra-based urban co-operative bank offering similar comprehensive retail, MSME, and agricultural lending products. Directly comparable business model and customer segment.
- NKGSB Co-operative Bank: Mumbai-based urban co-operative bank with strong retail and SME lending franchise. Comparable scheduled bank status, product portfolio, and Maharashtra focus.
- Abhyudaya Co-operative Bank: Urban co-operative bank in Mumbai with similar retail, MSME, and housing loan products. Comparable cooperative structure and customer demographic.
- Shamrao Vithal Co-operative Bank (SVC Bank): Multi-state scheduled co-operative bank with strong presence in Maharashtra. Comparable in offering retail loans, business loans, deposits, and digital channels to retail and SME customers.
- Janata Sahakari Bank (Pune): Pune-based scheduled urban co-operative bank with similar retail, business, and agricultural lending products. Geographic and structural peer in Maharashtra.
- Kalyan Janata Sahakari Bank: Scheduled urban co-operative bank in Maharashtra offering similar retail, MSME, and housing loan products. Comparable cooperative structure and digital banking adoption.
Emerging players
- Ujjivan Small Finance Bank: Small finance bank focused on financial inclusion, microfinance, and MSME lending in semi-urban and rural India. Competes for similar underbanked customer segments that Karad serves.
Broad incumbents
- UCO Bank: Large Indian public sector bank with extensive branch network in Maharashtra. Competes in retail, MSME, and agricultural lending space targeting similar semi-urban customers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Karad social profiles
Digital presenceKarad compliance and trust
Trust signalCompliance2 records
Karad financial estimates
Financial estimateRevenue estimate
Valuation estimate
Karad leadership team
Management profileNumber of profiles
Profiles1 record
Karad funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Karad M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Karad
What does Karad do?
The Karad Urban Co-operative Bank Ltd. is a scheduled co-operative bank providing retail loans (personal, housing, educational, vehicle, gold, solar, laptop), business and agricultural loans, deposit products (savings, current, fixed, recurring, pension, pigmy), and digital banking services through its SakalPay mobile app, WhatsApp banking, QR code, ATM, and RTGS/NEFT channels. It also distributes government subsidy-linked schemes and offers specialized loans for women, differently-abled persons, and self-help groups across its 56 branches in Maharashtra.
Is Karad a public or private company?
Karad is a private company. It is classified as management employee owned and is currently operating.
When was Karad founded?
Karad was founded in 1917. It employs 1,001 to 5,000 people.
Where is Karad based?
Karad is headquartered in Karad, India, in the Asia region.
How does Karad make money?
Three revenue lines are on record. Interest Income from Loans are the primary driver. The others are deposit Services and digital Banking Services.
Who are Karad's main competitors?
Direct peers on record are TJSB Sahakari Bank, Saraswat Co-operative Bank, Cosmos Co-operative Bank, NKGSB Co-operative Bank, Abhyudaya Co-operative Bank, Shamrao Vithal Co-operative Bank (SVC Bank), Janata Sahakari Bank (Pune) and Kalyan Janata Sahakari Bank. Ujjivan Small Finance Bank is listed as an emerging player. UCO Bank is listed as a broad incumbent.
Does Karad have an API?
No public API is recorded for Karad.
What industry is Karad in?
Karad's product category is Co-operative Banking. Its primary akta.pro industry code is FSABAKAI, Municipal/Local Government Development Banks. Its NAICS code is 522110 and its SIC code is 6022.