The Sutex Co-op Bank LTD Loan Interest Rates Information

At the prime time of opening The Sutex Co-op Bank Ltd. its name was The Surat Textile Traders Co-Op. Bank Ltd. Banks registered office address is Surajram Bachkaniwala Bhavan, Nr.Navjivan Circle, Udhan Magdalla Rd.,Surat  . In the year 1972 Bank’s Establisher Chairman Late Shri Surajram Bachkaniwala  and Vice Chairman Late Shri Ashabhai Shankarbhai Patel having a prosperous vision to provide a golden & profitable market  to Surat’s Textile Industry, registered the Bank at a cooperative level. The Sutex Co-op Bank Ltd. provided services with a view to help  Surat Textile Market shop keepers with Banking facilities and help them start and manage their businesses.

The Sutex Co-op Bank Ltd. in the initial stage started with only 270 share holders and Rs. 1.10 lacs share capital. As on 31st March 2016 number of share holders crossed 33426 and share capital of Rs. 3373.34 lacs. As on 31st MAR 2016 Bank has crossed a total deposits of Rs. 1476 crores and total advances of Rs.882 crores.

The Sutex Co-op Bank Ltd. has in total 18 branches and a administrative office. 


The Bank started with only four employees and as on today it has a big circle of 265 employees. Bank has been providing up to date training to all employees of different levels. All The Sutex Co-op Bank Ltd. branches are well organized and completely computerized and is one of the leading Bank’s across South Gujarat. The Sutex Co-op Bank Ltd. was the first Bank to provide ATM facilities through co-op. sector to its customers. In Surat City Bank provides complete Core Banking Facilities to its customers. It may be noted that the Core Banking Solution was completed in just 3 months period which included 14 branches and a admin office which showed a positive approach and proof of determination of The Sutex Co-op Bank Ltd. Staff. With CBS facilities Banks valued customers now can avail all kinds of Banking services and facilities from any branch.

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The Bank considers its customers as a valued customer and provides top level Banking services which has made the Bank very popular among the customers. Due to this Bank’s deposits has always increased. Country’s economical changes, inflation, share market drips ,yield on High interest rates in mutual funds had very less effect on the Bank which can be seen viewing the numerical charts.

Bank leads not only in providing Banking facilities but also is very active in social services. As we know our Surat has been hit several times by natural calamities like floods where Bank has instantly helped its customers without a delay. During the Floods in Surat in the years 1994, 1998 and 2006 Bank provided Loans to those who took severe damages within 24 hours which was noteworthy.


Under technology up-gradation scheme of Indian Government’s textile industry, The Sutex Co-op Bank Ltd. has got approval to provide direct advances and loans. The Sutex Co-op Bank Ltd. was the first Bank to achieve such approval across the nation under Urban Co-op. Banks Category.

Under the TUF scheme Bank has advanced a total of Rs.400 crores and have helped receiving fast subsidy’s to its shareholders which has resulted in strengthening our countries overall economy. For this achievement Bank has received a honorable certificate by the Ministry of textile.

Vision 2015 :
The bank aims to double its business in next 5 years. Expansion plan is there for opening of 3 more branches in prime locations of the city. Main focus is to cover the areas which are not covered by adequate banking facilities.

The adoption of all modern technologies for better service will be priority of the bank in future. The environment of all the branches will match an international standard.

Bank is poised to move towards needs based and behavior based segmentation in the next few years. Recounting that the number of mobile phone users is increasing day by day, bank has already started services of mobile banking and will shortly commence net banking.

The bank will expand its horizons beyond the traditional banking products and enter into newer ventures to increase its bottom line combines with cost rationalization.

In summary, bank will spotlight on customer service as well as satisfaction across all channels.

The Sutex Coop. Bank Ltd., Surat                                                                                       
Rate of Interest on Loans & Advances w.e.f 14/03/2017
S.No.Type of LoanRate of Int.(%) p.a.
1Cash Credit Limit11.50%
2Cash Credit Loan (84 months)11.25%
3Machinery Loan – New / TUF / Embroidery / Old11.00%
4Vehicle Loan (2 wheeler, 3 wheeler,4 wheeler,Commercial Vehicle)10.00%
5Clean Loan15.00%
6Factory Shed Loan / Premises Loan / Agriculture Factory Shed Loan12.00%
7Loan / OD against NSC / KVP / Life Policy / RBI Bond etc.10.50%
8Consumer Loan13.00%
9Education Loan in India*:
Upto Rs.2.00 Lacs9.50%
Above Rs.2.00 Lacs to 5.00 Lacs10.50%
Above Rs.5.00 Lacs11.00%
10Education Loan Abroad*:11.50%
*0.50% concessional rate for girl student
11Housing Loan
84 Months tenure10.00%
120 Months tenure10.50%
144 Months tenure (Maximum Rs.20.00 Lacs)10.50%
12Premises Loan / Loan against Immovable Property13.00%
13Premises Loan / OD against Commercial Real Estate Immovable Property14.50%
14Retail Trade Loan (Maximum Rs.5.00 Lacs)12.00%
15Holiday Tour Finance13.00%
16Furniture Fixture Loan13.50%
17Agriculture and other Allied Activities11.00%
18Loan / OD against bank’s FDFD rate + 1%
19Loan / OD against bank’s FD (Third party)FD rate + 2%
20Finance for Professionals (FFP)10.50%
21Overdraft Against Immovable Property (ODPROP)12.50%

Sutex Bank Offers A wide variety of profitable Fixed deposits schemes

The Sutex Coop. Bank Ltd., Surat                                                                                       
Rate of Interest on Deposits w.e.f 16/01/2017
S.No.Nature of DepositRate of Int.(%) p.a.
1Saving Bank A/c.4.00%
Short Term Fixed Deposits
415 days to 30 days4.00%
531 days to 180 days4.00%
6181 days to 1 year5.00%
7Above 1 year upto 2 years6.00%
8Above 2 years upto 3 years7.00%
9Above 3 years upto 5 years7.50%
10Above 5 years and above7.00%
Special Fixed Deposit Scheme.
*Senior Citizen : 1 % Additional Rate in F.D. above 1 Year Tenure
*Single F.D. :
*Rs. 15 Lacs & Above : 0.50 % Extra above 1 Year
Recurring Deposit
Lakhpati BanoInt.Rate (General)GeneralInt.Rate (S.C)Senior Citizen
Pay Rs.2100 Every Month for 42 months and get7.50 %1,01,044 /-8.50 %1,02,916 /-
Pay Rs.2100 Every Month for 78 months and get7.00 %2,07,583 /-8.00 %2,14,949 /-
Pay Rs.2200 Every Month for 120 months and get7.00 %3,82,144 /-8.00 %4,03,957 /-