Services offered at The Varachha Co-Op Bank Ltd.

, Surat
    1. Saving Accounts

    2. Current Accounts

    3. RTGS/NEFT

    4. Stamp Franking

    5. PAN Card Services

    6. E-Payment Of Taxes

    7. Demand Draft Facility

Locker

    8.

We provide following types of Savings Account facilities.

1. No Frill Savings Account.
2. Minor Savings Account.
3. Junior Savings Account.
4. Cheque Saving Account.

Varachha Bank Current Accounts.

o No Charges for RTGS/NEFT
o Monthly Statement via E-mail
Real Time Gross Settlement/National Electronic Fund Transfer
Varachha Bank provides RTGS/NEFT Facility.
   RTGS/NEFT is one of the safest secure modes of fund transfer.
Customer must be submit below required Information
Required Information

1 Amount to be remitted

2 Remitting customer's account number

which is to be debited

3 Name of the beneficiary bank

4 Name of the beneficiary customer

5 IFSC of receiving branch

6 Account number of the beneficiary

customer

Transactions Charge
 Free, no charge to be levied.

IFSC code of Our Bank

Branch Branch Name IFSC Code
Code

002 Affil Tower VARA0289001

003 Kamrej VARA0289002

004 Ring Road VARA0289003

005 Kadodra VARA0289004

006 Kapodra VARA0289005

007 Katargam VARA0289006

008 Punagam VARA0289007

009 Sachin VARA0289008

010 Navsari VARA0289009

011 Ahmedabad VARA0289010

012 Ankleshwar VARA0289011

013 Yogichowk VARA0289012

 014 Mota Varachha VARA0289013

015 Sarthana   VARA0289014

016 Hirabaug    VARA0289015

017 Ved-Dabholi VARA0289016

018 Adajan VARA0289017

019 A K Road VARA0289018

020 AMROLI VARA0289019

021 KARGIL VARA0289020

022 PAL VARA0289021

023 Udhana VARA0289022

Pandesara

024 Udhna Magdalla VARA0289023

 
Benefits of RTGS/NEFTServices
 Avoid long waiting period
 Credits The Beneficiary's A/c The Same Day Through RTGS
 Credits The Beneficiary's A/c The Same Day/Next Day If Remittance Done Late In The
Day       
 No need of physical cheque/Demand draft
 Reduces time/cost/effort
 Reduces Paper work and improves efficiency
 Varachha bank RTGS/NEFT is free of cost for any amount (at opening Balance)
Guideline for Customer
 If customer don't know the IFSC code of the receiving branch then The IFSC code is
also available on the RBI website (https://www.rbi.org.in/Scripts/IFSCMICRDetails.aspx).
Transfer Limit
 For RTGS Eligibility : Transactions Above 2 Laces.
 For NEFT Eligibility : No Limit
Service Time
 24 x 7
A machine that automatically stamps letters or packages passing through it and
computes the total charge. Franking is kind of computer device. The Varachha Co
Operative Bank has been permitted for stamp franking by Govt. Of Gujarat.
You can get stamp franking facility at Our Head Office.
Address :
The varachha Co-Op. Bank Ltd., Surat
Affil Tower, L. H. Road,
Surat-395006, Gujarat, India.
Tel: + 91-261-2308000
Fax: + 91-261-2558209
Email: [email protected]

Benefits of our Stamp Franking Service

 No chances of Fraud / Fake document and risk free service for customer.
 Bank customer can save time.
 Customer need to pay stamp paper charge only, No extra charge for Stamp Franking
Service.
What is PAN? (FAQs on PAN)
Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the
form of a laminated card, by an Assessing Officer of the Income Tax Department.
A typical PAN is AFRPP1595D What is the purpose of having a Permanent Account
Number (PAN)? It is mandatory to quote PAN on return of income, all correspondence
with any income tax authority and challans for any payments due to Income Tax
Department.
It is also compulsory to quote PAN in all documents pertaining to economic or financial
transactions notified from time-to-time by the Central Board of Direct Taxes.
It is also mandatory to mention PAN for obtaining a telephone or cellular telephone
connection.
Likewise, PAN has to be mentioned for making a time deposit exceeding Rs. 50,000/-
with a Bank or Post Office or depositing cash of Rs. 50,000/- or more in a Bank. Is it
compulsory to quote PAN on return of income?
Yes, it is compulsory to quote PAN on return of income. Who must have a PAN?
 All existing assesses or taxpayers or persons who are required to furnish a return of
income, even on behalf of others, must obtain PAN.
 Any person, who intends to enter into economic or financial transactions where quoting
PAN is mandatory, must also obtain PAN.
 The Assessing Officer may allot PAN to any person either on his own or on a specific
request from such person.
Who are those persons who are not required to obtain or quote Permanent Account
Number? The following categories of persons are not required to obtain or quote PAN:
xvi) Persons having only agricultural income and do not have any taxable income. Such
persons will file a declaration (Form 61) in respect of transactions where quoting of PAN
is mandatory;
xvii) Non-residents;
xviii) Central Government, State Governments and Consular Offices in transactions in
which they are the payers.
PAN Service
Our Bank is authorized to service the PAN applications. You can get your PAN card by
simply filling up the application form and lodging the same at our 21 designated
branches mentioned hereunder along with the documents prescribed.
Branches:
Sr. Branch Sr. Branch Name
No. Name No.
 1   Head Office 13  Mota Varachha

2   Kamrej 14  Sarthana

3   Ringroad 15  Hirabaug

4   Kadodra 16  Ved-Dabholi

5   Kapodra 17  Adajan

6   Katargam 18  A K Road

7   Punagam 19  Amroli

   8      Sachin 20  Kargil Chowk

9   Navsari 21  Pal

10  Ahmedabad 22  Udhna
Pandesara

11  Ankleshwar  23  Udhna Magdalla

12  Yogichowk    

 
Duly filled up application form along with xerox copy of proof of identity, proof of address
and 2 recent photographs (of 3.5 cms x 2.5 cms in size) can be submitted at our
branches.
In case of minors, the POA & POI of the parent / guardian (who should also be an IT
assessee) who applies on behalf of the minor should be enclosed along with the
application. Photograph of the minor must be pasted on the application form.
PAN card has multifarious uses in our day to day life:
 It is a major identification document.
 For investments in primary and secondary markets.
 For opening Demat accounts and Trading accounts.
 For Mutual Fund investments.
 Mandatory for any depositor (including Non-Residents) whose receipts are subject to
deduction of tax at source
 For opening of Savings / Current accounts with the banks
 At the time of placing the fixed deposits with the banks
Varachha Bank Provides  facility to our customers / taxpayers  to make E-
payments of all Direct Taxes.
Customers can avail this facility from any bank branch of Varachha Bank.
E-Payment facility is available for following type of tax payments.
 
TDS / TCS

CHALLAN Tax Deducted at Source

No./ITNS / Tax Collected at
281 : Source.  
(TDS/TCS) from
corporate or non-
corporate Non-TDS /
TCS

CHALLAN Payment of Income Tax

No./ITNS & Corporation Tax.
280 :

 
E-Payment Service Charge 
(If Opening balance less than Payable Tax amount)
 Rs. 50 (+ Service Tax)
Benefits
 Ease of operation and convenience.
 On-line filing of challans and payment of taxes (No more queues and waiting).
Demand Draft is way for remitters to transfer money
A demand draft is more secure than a normal cheque as it can only be credited to a
specific payee's account, and a customer can only be reimbursed under indemnity if the
draft is lost or stolen.

Transactions Charge
The structure of charges that can be levied on the customer for Demand Draft is given
below:

Charges of Pay Order   

If Opening balance less than Pay Order amount
 Up to Rs. 1,000    : Rs. 10 (+GST)
 Rs. 1,001 to Rs. 15,000    : Rs. 15 (+GST)
 Rs. 15,001 and above    : Rs. 1 per Rs. 1,000 (+GST)
Charges of Demand Draft
If Opening balance less than DD amount
 Up to Rs. 5,000    : Rs. 15 (+GST)
 Rs. 5,001 to Rs. 20,000    : Rs. 20 (+GST)
 Rs. 20,001 and above    : Rs. 1 per Rs. 1,000 (+GST)
Charges of Nationalize Demand Draft ( State Bank of Travancore)
If Opening balance less than DD amount
 Up to Rs. 10,000    : Rs. 20 (+GST)
 Rs. 10,001 to Rs. 1,00,000    : Rs. 2per Rs. 1,000 (+GST)
 Rs. 1,00,001 to Rs. 1,33,000    : Rs. 200 (+GST)
 Rs. 1,33,001 and above    : Rs. 1 per Rs. 1,000 (+GST)
Benefits
 Varachha bank draft is free of cost for any amount (at opening Balance)
Varachha Bank having Locker facility.
Branch where lockers are available
Locker Service facility at our below
Branch

1 Kamrej 10 Mota Varachha

2 Ring Road 11 Sarthana 

3 Kapodra 12 Hira Baug

4 Katargam 13 Ved-Dabholi

5 Punagam 14 Adajan

6 Navsari 15 A K Road

7 Ahmedabad 16 Amroli

8 Ankleshwar 17 Kargil

9 Yogichowk 18 Pal

TYPES OF LOCKERS AVAILABLE AND THEIR RENTS

Locker Height Width Opening fee, Stationary, Rent Deposit Payable
Type in in Service tax, Stamp Charge Amount Amount
inch inch
A 5 7 450/-  280/- 7000/-  7730/-

B 6.25 8.25 450/-  360/- 9000/-  9810/-

C 5 14 450/-  400/- 10000/-  11,850/-

D 7.50 10.50 450/-  440/- 11000/-  11,890/-

E 6.25 16.75 450/-  480/- 12,000/-  12,930/-

F 11 14 450/-  680/- 17,000/-  18,130/-

G 7.50 20 450/- 1000/ 25,000/-  26,450/-

-

H 12.60 16.75 450/- 1000/ 25,000/-  26,450/-

-

H1 12 16.75 450/- 1000/ 25,000/-  26,450/-

-

L1 16 21 450/- 1200/ 30,000/-  31,650/-

-

L2 15.15 20.80 450/- 1400/ 35,000/-  36,850/-

 -

Benefits of Locker facility

 Interest rate is receivable on locker reserve deposit
 All locker's depth size is same 19.35 inch
 Locker holder will allow to placed own Additional personal lock in locker box
 Locker holder will allow to apply own simple lock on locker box
Guideline for Customer
 Must be opened the person's current or savings account at any branch for that person
who want to keep locker facility.
 Locker access allow on banking hours

Banking Services
 Saving Accounts
 Current Accounts
 RTGS / NEFT
 Stamp Franking
 PAN Card Service
 E-Payment Of Taxes
 Demand Draft Facility
 Lockers
 FOREX (Foreign Exchange)

PreviousNext
Welcome to Varachha Bank
The people of Saurashtra of Western Gujarat have moved away from their rain-starved native to
Textile and Diamond city of Surat in search for income generation and survival almost four
decades ago. Since then Saurashtrians have considered Surat as their home land. After coming to
Surat, some individuals began trading business while majority of them entered into labour front.
In a phased manner, the population of the people, involved in diamond trade,
belonging to Saurashtra increased to a sizeable extent in Surat, particularly in the
area of Varachha, making it mandatory to have a Bank of their own.

Total Business 3186 Crores

Financial Strength  Unaudited Data (As on 31/03/2021)
Share Capital
30.80 Crores
Deposits
2200 Crores
Working Capital
2521 Crores
Reserve Funds
177 Crores
Advances
985 Crores
Net Profit
15.78 Crores
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 VCB Mobile Banking
VCB Mobile Banking
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bank account, on your mobile phone.

Varachha Bank provide various financial and non-financial transaction like

 Internal Fund Transfer
 IMPS transaction (24 x 7 x 365)
 NEFT Transaction
 Utility Bill Pay(Gas, Electricity, Water Bill etc.)
 Recharge (Mobile/DTH)
 Mini & Detailed Statement
 New Cheque Book & Cheque Stop Payment Request
 Clearing Cheque Status (I/W / O/W) etc.
 ATM Card On/Off/Block Facility
 RuPay Card Offers
 

 Loans Schemes
 

 Deposit Schemes
  

 Services & Utilities

 

 Insurance Services
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VCB Loan Schemes
Attractive Loan Schemes at very competitive rate of interest & reasonable
documentation with fast disposal.
 Personal Loans
 Business Loans
 Interest Rates
Personal Loans

Attractive Loan Schemes at very competitive rate of interest & reasonable

documentation with fast disposal. Our various loan schemes are Car Loan, Home Loan,
Credit Loan, Mortgage Loan, SME Loan, Industrial and Business Loan, Vendor Finance,
LC discounting, Gold loan scheme Loan, Educational Loan, Share Overdrafts etc.


Home Loan

FD Loan

Two Wheeler Loan

Self Employee Loan

Car Loan

Gold Loan

Personal loan/Surety Loan for Members

Education Loan

NSC/ KVP Loan
Business Loans

Term Loan for capital investment in fixed assets, such as Plant & Machinery,
Construction/Purchase of factory Shed/Office Premises, Furniture & Fixtures, Technical
Gadgets/Equipment, etc.

 Cash Credit Loan

 Over Draft Loan
 Consumer Durable Loan
 Machinery Loan
 Tuf Machinery Loan
 Mortgage Loan
 With Effective From 01-03-
2021
Loan Type Rate(in %)

CASH CREDIT 9.00

CAR LOAN 9.00

COMMERCIAL VEHICAL 13.00

LOAN

EDUCATION LOAN 9.50

FD LOAN FD RATE
+ 1%

GOLD LOAN 9.00

GOVT. SCHEME LOAN 12.00

HOUSING LOAN 10 / 15 8.25

YEARS

MACHINARY LOAN (TUF / 8.75

NON TUF)

MORTGAGE LOAN 12.50

NSC / KVP LOAN 12.00

OVERDRAFT (Against 12.50

Property)

OVERDRAFT 13.00
(Professionals) (Doctor)

OVERDRAFT (Against FD) FD RATE

+ 1%

PERSONAL LOAN 13.00

PERSONAL LOAN 12.50

(Professionals) (Doctor)

ROOF TOP SOLAR PANEL 10.50

LOAN

SELF EMPLOYED LOAN 9.00

TERM LOAN 11.00

TWO WHEELER LOAN 13.00

BUILDER PROJECT LOAN 12.50

Eligibility of borrower
 Must complied with the norms of KYC and having current / saving account holder of the
Bank.
 Borrower must be a member of the Bank. 
 Have good reputation and credit worthiness.
 Having sufficient score in CIC's reports.
Purpose of Loan      
 Purchase/Construction of residential building for his own use.
Quantum of finance
 Up to 85% of panel valuer's valuation report.
 Up to 85% of notarized agreement of sale + agreement of construction work or
additional construction work + applicable stamp duty + registrarion fee + Govt. Taxes +
life insurance premium will be considerable.
Share Linkage
 Borrower must have Bank's share linkage @ 1% of the loan sanction amount.
Repayment period
 Maximum 180 months
Rate of Interest8.25%  p. a.SecurityPrime:

 Simple mortgage  property purchase/constructed out of the Bank finance

Collateral:
 Third party guarantee of two personal guarantors  having good Credit  worthiness and 
financially sound  and member of the Bank.

FD Loan
1. Home
2. FD Loan
Eligibility of  Having current / saving
borrower  account holder of the
Bank.
 Applicant must have his
own fixed deposit.
 Applicant must be a
member / nominal
member of the Bank
Purpose of  Any personal
Loan          requirement.
Quantum of  90% of principal amount
finance        of fixed deposit
including  accrued      
 interest thereon.
Repayment  12 months or  till the
period         date of maturity of fixed
deposit as per 
Discretion of Bank
 Interest on loan should
be repaid every month.
Rate of  FD Rate + 1.00%
Interest            or as per directives of 
   Reserve Bank of  India,
from time to time
Security:   Lien marked of fixed
deposit and pledged
with the Bank.

Two Wheeler Loan

1. Home
2. Two Wheeler Loan
Eligibility of  Must be complied with the norms of KYC and having current or savings
borrower account with the Bank.
 Must have a valid driving license in his own name.
 Must be a regular or nominal member of the Bank.
 Should have his own / family member's / guarantor's residential or
business property in their name in municipal record.
 Having sufficient score in CIC's reports

Purpose of  Purchase of New vehicle [ 2 wheeler ]

Loan
Quantum of  Authorized dealers' price quotation
finance  Up to 85 % of quotation value [ Basic price + RTO registration fee +
Insurance + Vehicle tax ]
 In case of margin money deposited as fixed deposit under lien with the
bank, loan may be considered at 100% of quotation value.

Repayment  Maximum 48  months.

period
Rate of 13.00%  p. a.
Interest
Security  Hypothecation of vehicle in favour of Bank
 Blank TTO form duly signed by the borrower.
 Copy of R.C. Book marked with HP clause in favour of the Bank OR HP
certificate issued by RTO is to be obtain.
 Vehicle must be fully insured with HP clause in favour of the Bank
 One personal guarantor [ If borrower himself a property holder ]
 If borrower does not have any property in his own or family member’s
name then two personal guarantor is to be obtain and out of which one
guarantor must be a property holder.

Self employed loan

Eligibility of  Having current / saving
borrower account holder of the Bank.
 Borrower must be a
member/ nominal member
of the bank.
 Applicant  must be a skilled
person.
 Must be a skilled qualified
personals such as Doctor,
CA, CS, Advocates etc. with
existing practice or a new
start up. 
 Having sufficient score in
CIC's reports
Proof of  Copy of PAN card, Aadhar
identity card, Voter ID, Driving
license, Pass Port, Job card
issued by NREGA [Any two].
Purpose of  Any existing qualified skilled
Loan:      professional or a newly
qualified degree holder who
needs to set up / expansion
of his own establishment for
purchase of commercial
business premises, furniture
& fixtures, repair &
renovation of business
premises, purchase of
instruments, equipment, etc.
for setting up of his own
 business / profession.
Quantum of  Up to  80% of  project cost.
finance
Share  Borrower must have Bank
Linkage        share Linkage @ 1% of the
loan  sanction amount.
Repayment  Maximum 120 months
period
Proof of  Income Tax returns up to
income last 3 years.
Rate of 9.00% p. a.
Interest
Security Prime:
 Hypothecation of assets
created by Bank finance.
Collateral:
 Third party guarantee of two
personal guarantors having
good  Credit worthiness
and  financially sound and
member of the Bank.
 If loan sanction amount
exceeds Rs.1.00 lac, simple
mortgage of title  cleared
property of the
borrower/guarantors.
 If loan sanction amount
exceeds Rs. 5.00 lac,
simple mortgage / HP of all
the assets created by the
Bank finance to be made in
favour of the Bank.

Car Loan
1. Home
2. Car Loan
Eligibility of  Having current / saving
borrower account holder of the
Bank.
 Borrower must be a
member of the Bank. 
 Last three years income-
tax return should be
produced.
 Must have a valid driving
 license in his own name, in
case of unavailability of
self driving license,
applicant has to produce a
written declaration who
will drive on behalf of him
along with the copy of
driver's driving license.
 Borrowers should have his
own/ family member's
residential or business
property in their name in
the Govt./SMC record.
 Having sufficient score in
CIC's reports.
Purpose of  Purchase of new/old
Loan vehicles only.
Quantum  Up to 85% of quotation
of finance value of authorized dealer
for new vehicle.
 Up to 70% of valuation
report of approved valuer
in case of old vehicle.
 In case of  margin money
deposited in fixed deposit
with the bank, loan may be
considered at 100% of
quotation value.
Share  Borrower must have Bank
Linkage share Linkage @ 1% of the
loan sanction amount.
Repayment  Maximum up to 84
period monthly installments.
Rate of 9.00% p. a.
Interest
Security  Hypothication of vehicle in
favour of Bank.
 One personal guarantor
having his own property
and last year's income-tax
return.
 Copy of R.C.Book marked
with HP clause in favour of
the Bank or HP Certificate
issued by RTO is
 mandatory to obtain.
 In case of loan amount is
Rs. 30.00 lakh or above,
original sale deed /
agreement of the property
of the borrower or his
family member to be
obtain with power of
attorney in favour of Bank.
 In case of commercial
vehecle, declaration of
borrower with valid license
of driver, and if loan
amount is Rs. 5.00 lakh or
above, orignal sale
deed/agreement of
property of borrower or
guarantor is to be obtain
with power of attorney in
favour of Bank.
 Vehicle to be insured comprehensively with
Bank clause

Gold Loan
1. Home
2. Gold Loan
Eligibility of  Having current / saving account  holder of the Bank.
borrower  KYC norms should be observed.
 Applicant must have his own ornaments.
 Borrower must be a member /nominal member of the  bank.  
Purpose of  Any personal needs.
Loan         
Quantum of  Loan up to 75% of gold value [monthly average price of bullion market] or Rs.
finance      20,000/- per 10 gram whichever is less will be considered.
 Maximum amount of loan to an individual is Rs. 1.85 lakh.
Repayment  Within 12 months for repayment of total loan. (As Bullet recovery)
period
Rate of  9.00%  p. a.
Interest     
Security  Pledge of gold ornaments with the Bank.

Personal loan/Surety Loan for Members

1. Home
 2. Personal loan/Surety Loan for Members
Eligibility of  Must complied with the norms of KYC and having CA/SB A/c with the Bank.
borrower  Must be a regular member of the Bank.
 Must have his own OR family member's residential / commercial property in their
own name in the Municipal record.
 Having sufficient score in CIC's reports
Proof of  Copy of PAN card, Aadhar card, Voter ID, Driving license, Pass Port, Job card issued
identity by NREGA [Any two].  
Purpose of  For celebration of social ceremonies
Loan     Medical treatment for borrower and his family members.
 Educational expenses of children.
 Purchase / Repairing / Renovation of residential house / office
 Additional construction of residential house or for any other personal need
Proof of  Self declaration OR latest copy of IT returns up to Rs. 2.00 lakh.
income  Above Rs. 2.00 lakh IT returns up to last 2 year.
Quantum of  Maximum limit Rs.5.00 lac subject to repaying capacity of borrower.
finance
Share Linkage  Borrower must have Bank share holding @ 2.5% of the loan sanction  amount.
Repayment  Maximum 60 months.
period
Rate of 13%  p. a 
Interest   
Security  Two personal guarantors, having their own property [Being a regular or nominal
member of the bank]
 Borrower has to submit original sale deed [Kabja karar / Dastavej] of his
own OR family member's property and have to create charge over such property by
way of general power of attorney in favour of the Bank.

Education Loan
1. Home
2. Education Loan
Eligibility of  Applicant must have current/savings account  holder of  the Bank
borrower  Applicant must be resident of area of operation of the   bank.
 Have good reputation and credit worthiness.
 Student must have good academic  record.
 Student must have secured admission.
 Student must have passport & visa for abroad   education.
Purpose of  For higher education after 12th standered.
Loan
Quantum of  Up to 50.00 lakh for study at abroad subject to repaying capacity.
finance  Up to 80% of the cost of books, instruments, tuition fees, hostel fees
[Lodging/boarding], living expenses, air fare, all types of equipments/instruments
required for the respective educational purpose and premium of life insurance.
Share Linkage  Borrower must have Bank share holding @ 1% of the loan sanction amount.       
Repayment  84 Monthly installments including interest immediately after next month of the
period loan disbursement.
Rate of 9.50 % p. a.
Interest
Security Prime:

 LIC Policy equivalent to the loan amount of the student  to be assign to the bank
 
Collateral:
 Third party guarantee of two personal guarantors  having good   credit worthiness
and  financially sound   and member of the Bank.
 Simple mortgage of title cleared property of the  borrower/ guarantors.
 

NSC/ KVP Loan

1. Home
2. NSC/ KVP Loan
Eligibility of  Having current / saving account holder of the Bank.
borrower    Applicant must have his own certificate of NSC/ KVP.
 Borrower must be a member/ nominal member of the   bank. 
Purpose of  Any personal need.
Loan            
Quantum of  70% of principal amount of NSC/ KVP.& 75% of Surrender Value of L.I.C. Policies
finance
Share  Borrower must have Bank share holding @ 1% of the loan sanction  amount.
Linkage           
Repayment  12 months or  till the date of maturity of NSC / KVP as per  Discretion of Bank
period  Interest on loan should be repaid every month.
Rate of Interest  12%  p. a.

Security  Lien marked certificate of NSC/ KVP by the issuing  post  office in favour of the
Bank and to be pledged with the bank. Money receipt to be deposited with Bank
for  lien marked charges from the post office.
 Original L.I.C. Policies  with assignment in favour of the Bank are to be deposited

VCB FAST LOAN

1. Home
2. VCB FAST LOAN
Eligibility of  Must complied with the norms of KYC and having one year old CA/SB A/c with
borrower the Bank.
 Must be a regular or nominal member of the Bank.
 Having sufficient score in CIC's reports
Proof of identity  Copy of PAN card, Aadhar card, Voter ID, Driving license, Pass Port, Job card
issued by NREGA  [Any two]. 
        [Copy of PAN / Aadhar is mandatory]
Proof of Address  Electricity bill / Gas Bill, Aadhar address OR rent agreement along with the
[Residence / recent copy of light bill.
Business place]
Purpose of Loan     To meet the day to day payments and expenses related to the nature of
business such as staff salary, light bill, purchase of stocks/equipments as
required from day to day need etc.
Proof of income  I.T. returns of applicant for last year OR self income declaration.
Quantum of  Upto Rs.50,000/-only
finance
Share Linkage  Must be a nominal or regular member of the Bank
Repayment period  Repayment will be in 30 equal monthly Installments {EMl}
Rate of Interest         13%  p. a 

Security  Two personal guarantors (one family member allowed), having their own
property [Being regular or a nominal member of the bank]
 Guarantors have to submit copies of tax bill and receipt of their own property.
 In case of guarantor's income proof, self income declaration or l.T. return of
last 1 year only.

Cash Credit Loan

1. Home
2. Cash Credit Loan
Eligibility of  Having operative current account  holder of the Bank  for more than six months 
borrower    Having good reputation, experience, credit worthiness and a profit making.
 Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
 having sufficient score in CIC's reports.
Purpose of  To meet Working capital Requirement
Loan 
Quantum of  20% of  annual turnover/ sales of the firm.
finance           Up to 70% of the value of the paid stock plus 70% of book debts subject to DP
against book debts should not exceed 6 times of DP against stock.
 Current Ratio & Debt Equity Ratio should be at satisfactory level
Share Linkage  Borrower must have Bank share Linkage @ 1% of the loan sanction  amount.
Repayment  Review once in 6 Months and renewal in 12 Months.
period          
Rate of Interest 9.00 %  p.a.

Security Prime:

 Stock and book debts should be hypothecated to the  Bank.

 Stock should be stored in R.C.C. built godown own/ rented by   the borrower.
 Letter of access will have to be got duly signed by the  owner.
 Bank's name plate indicating stocks hypothecated to   the Bank  will  have to be
displayed on godown where   the stocks stored.
 Godown premises  and Stock hypothecated to the  Bank should be  fully insured
against the risk of fire,  theft, burglary, flood, riots etc by the borrower at his
 Own cost and the policy has to be with  Bank clause.
 Borrower has to submit stock statement monthly or as   instructed by the Bank
within 7 days of the succeeding  month   otherwise penalty will be levied for
delayed   submission.

Collateral:

 Up to 100% collateral security by way of equitable or simple mortgage of title

cleared property of the borrower or guarantors.
 Third party guarantee of two personal guarantors having good Credit worthiness
and  financially sound  and member of the Bank.
 Simple mortgage of title cleared property of the borrower/guarantors.
Other  Borrower has to submit stock statement monthly within 15 days of the
succeeding month along with the list of sundry debtors, otherwise penalty @ Rs.
200 + GST will be levied for delayed submission.

Over Draft Loan

1. Home
2. Over Draft Loan
Eligibility of  Any Individual, Proprietorship, Partnership firm [ Except HUF, AOP, Company ]
borrower doing business such as trading, manufacturing, job work, contract / construction /
consulting work etc. and must an IT assesse.
 Having operative current account  holder of the Bank for more than 3 months.
 KYC norms should be fulfilled in all respect.
 Having income tax returns up to last 3 years.
 Having good reputation and Credit worthiness and profit making firm.
  Having sufficient score in CIC's reports
Borrower/ Partners/ Directors/ Guarantors must be a   member of the Bank.
Purpose of  To meet Working capital Requirement
Loan 
Quantum of  In case of property as security, Up to 60 % of fair market value of residential
finance       property and up to 50 % of fair market value of commercial property OR maximum
Rs. 20.00 lac subject to 20% of annual turnover of business. [ whichever is less ]
Share Linkage  Borrower must have Bank share linkage @ 1% of the loan sanction  amount.
Repayment  Review once in 6 Months and  renewal  in 12 Months
period  
Rate of 12.50%
Interest  
Security Prime:

 Simple mortgage of title cleared property,own occupied of the borrower /  

guarantor
Collateral:
 Third party guarantee of two personal guarantors  having good Credit worthiness
and  financially sound  and member of the Bank.
 Hypothecation of stocks and book debts in favour of   the Bank

Term Loan
1. Home
2. Term Loan
Eligibility of  Any Individual, Proprietorship firm, Partnership firm, Pvt. Ltd. Company, LLP firm
borrower  [ Except HUF, AOP ] having saving / current account with our Bank complied with
the norms of KYC.
 Must be a regular member of the Bank.
 Having good reputation and credit worthiness.
 Having sufficient score in CIC's reports
Purpose of  Business development, expansion, purchase or construction, furniture &
Loan          fixtures, repairing & renovation, electrification of any residential or commercial
or industrial buildings or any other purpose including purchase of any items
related to the nature of respective business and activities.
Quantum of  Up to 80% of estimated cost of construction by producing notarized deed of
finance        construction work with estimate of chartered engineer & if purchase of
constructed factory shed 80% amount of sale deed.
 Up to 80% of quotation of such items required to be purchase related to the
nature of respective business and activities.
Share  Borrower must have Bank share holding @ 1% of the loan sanction amount.
Linkage          
Repayment  Maximum up to 120 monthly installments including moratorium period.
period       If necessary, moratorium period up to 6 months will be allowed.
Rate of 11.00%  p. a.
Interest               
Security Prime :   
 Mortgage / Hypothecation of assets created by the Bank finance.
Collateral :  
 Up to 100 % Collateral security by way of equitable / simple mortgage of title
cleared property of the borrower / guarantor should be obtained.
 In case of loan amount up to Rs. 5.00 lakh, original sale deed of property of
borrower's own OR family member's to be submit with the Bank and creating
charge over such property by way of only general power of attorney in favour of
the Bank.
 Third party guarantee of two personal guarantors complied with the norms of
KYC and are regular member of the Bank, having good credit worthiness and
financially sound.

Machinery Loan
1. Home
2. Machinery Loan
Eligibility of borrower  Any Individual, Proprietorship firm, Partnership firm, Pvt. Ltd. Company, LLP
firm [Except HUF, AOP]  having current account with the Bank and complied
with the norms of KYC.
 Having  current account  holder of the Bank.
 Have good reputation and Credit worthiness.
 Borrower/ Partners/ Directors/ Guarantors must be a  member of  the Bank.
 Having sufficient score in CIC's reports.   
Proof of Business and  PAN card, IE Code, SSI certificate, Shop Establishment License, VAT / TIN /
Financial data of GST No., Udhyog  Aadhar, Copy of license applicable as per nature of
firm / Company business.
 Notarized partnership deed and firm registration certificate issued by
registrar of firms is compulsory in case of a partnership and LLP firm.
 Certificate of net worth, infusion of margin money / capital duly certified by
CA wherever required.
 Trading, Profit & loss A/c, Balance sheet up to last three financial year, copy
of I.T. Return for the same along with provisional of current period & self
attested project report.
Proof of identity  Copy of PAN card, Aadhar card, Voter ID, Driving license, Pass Port, Job card
[ All individuals ] issued by NREGA [Any two].  [Copy of PAN / Aadhar is mandatory wherever
applicable]
Proof of Address  Copy of latest property tax receipt / Electricity bill / Gas Bill
[Business premises  In case of rental, recent copy of light bill as per Aadhar address OR rent
& residence] agreement OR certificate of residence on society's letter head duly stamped
& signed by the president along with the recent copy of light bill.
 In case of rental business / office / factory premises, rent agreement with
 latest copy of light bill and property tax receipt confirming the ownership.
Proof of income  Income Tax return up to last 3 years.
Purpose of Loan           Purchase of new / old machinery for own business purpose
Quantum of  Up to 85% amount of an authorized dealers' valid price quotation for new
finance      machinery.
 Up to 70% amount of valuation report of the approved valuer in case of old
machinery. Vintage period should not be more than 10 years and residual
life should be minimum 10 years at the time of valuation of machinery.
Share Linkage            Borrower must have Bank share Linkage @ 1% of the loan sanction 
amount.
Repayment period  Maximum up to 84 monthly installments excluding moratorium period.
 If necessary, moratorium period up to 12 months may be allowed.
Rate of Interest       8.75% p. a.
Security Prime:

 Machinery should be hypothecated to the Bank.

   
Collateral:

Up to 100 % Collateral security by way of equitable / simple mortgage of

title cleared property of the borrower / guarantor should be obtained.
OR
70% FD against loan amount in applicant firm's name to be pledged.
OR
60% FD against loan amount in applicant firm’s name to be pledged as per
under noted conditions :-
[ A ] Maximum sanction amount should not exceed rupees one crore under
this parameter.
[ B ] If an existing one year old regular installment repaying borrower needs
further fresh loan in the same name / firm.
[ C ] If an applicant represents a guarantor who is an existing one year old
C/C OR Machinery loan holder of our Bank with all other regularities and
have mortgaged his own property with the Bank.
[ D ] If an applicant surrenders original Kabja Karar of his own or guarantor’s
property having market value equivalent to the loan amount by way of PA in
favour of the Bank.
 OR
50% FD against loan amount in applicant firm’s name to be pledged as per
under noted conditions :-
 
 [ A ] Conditions mentioned above under A to D will be applicable.
[ B ] Moratorium period will not be allowed.
[ C ] Interest will be charged 0.50% more than the regular rate.

Tuf Machinery Loan

1. Home
2. Tuf Machinery Loan
Eligibility of  Any Individual, Proprietorship firm, Partnership firm, Pvt. Ltd. Company, LLP firm
borrower [ Except HUF, AOP ] having current account with the Bank and complied with the
norms of KYC.
 Having good reputation and Credit worthiness and a profit making firm / company.
 Must having experience in the respective field.
 All individuals and firm must be regular member of the Bank.
 Having sufficient score in CIC's reports
Purpose of  Purchase of new technologically upgraded machinery as well as second hand
Loan imported technologically upgraded machinery for their own business.
Quantum of  Up to 85% of an authorized dealer's valid quotation for new machinery.
finance  In case of old imported machinery loan up to 70% of valuation certificate of the
chartered engineer of exporting country.
Share Linkage  Borrower must have Bank share holding @ 1% of the loan sanction  amount.
Repayment  Maximum 84 Months.
period
Rate of 8.75 % p. a.
Interest
Securit Prime :  
 Machinery should be hypothecated to the Bank.
Collateral :
 Up to 100 % Collateral security by way of equitable / simple mortgage of title
cleared property of the borrower / guarantor should be obtained.
OR
 70% FD against loan amount in applicant firm's name to be pledged.
OR
 60% FD against loan amount in applicant firm’s name to be pledged as per under
noted conditions :-
[ A ] Maximum sanction amount should not exceed rupees one crore under this
parameter.
[ B ] If an existing one year old regular installment repaying borrower needs further
fresh loan in the same name / firm.
[ C ] If an applicant represents a guarantor who is an existing one year old C/C OR
Machinery loan holder of our Bank with all other regularities and have mortgaged
his own property with the Bank.
[ D ] If an applicant surrenders original Kabja Karar of his own or guarantor’s
 property having market value equivalent to the loan amount by way of PA in favour
of the Bank.
 OR
 50% FD against loan amount in applicant firm’s name to be pledged as per under
noted conditions :-
[ A ] Conditions mentioned above under A to D will be applicable.
[ B ] Moratorium period will not be allowed.
[ C ] Interest will be charged 0.50% more than the regular rate.

Mortgage Loan
1. Home
2. Mortgage Loan
Eligibility of  An individual in any capacity / professional / self - employed [other than
borrower HUF / AOP / Company / Partnership firm] who are an IT assessee and
maintaining current / savings account with the Bank and having constructed
title cleared residential / commercial / industrial property in his/her own
name or jointly with parents/spouse with self occupancy. [Agricultural land
or any other open land / plot is not considerable.]
 Applicant / co-applicant / gaurantors must be a member of the Bank.
 IT returns of applicant / co-applicant / gaurantor up to 3 years along with last
3 months salary slip in case of salaried one.
 KYC norms should be fulfilled in all respect for all.
 Having sufficient score in CIC's reports with no negative remarks.
 Having current / savings account holder of the Bank.
Having good reputation and Credit worthiness.
 Applicant / co-applicant must have minimum 21 years and maximum 60
years old age.
 In case if the applicant is older than 60 years, then certified copy of will is to
be obtained with loan application and successors / inheritance should must
be represented as co-borrower.
Purpose of Loan  Business development.
 Acquiring of factory building, office premises etc…
Quantum of finance  Up to 60% of fair market value in case of Residential and up to 50% of fair
market value Commercial property as per sanction plan. Maximum Rs. 2.00
Crore inclusive of personal life insurance premium [subject to repaying
capacity]
 Borrower's own occupancy on such property is compulsory
Share Linkage  Borrower must have Bank share Linkage @ 1% of the  sanctioned loan 
amount.
Repayment period   Maximum up to 120 months.
Rate of Interest 12.50%

Security  Prime:
  Simple mortgage of self occupied title cleared property of the applicant
himself.

Collateral:

 Third party guarantee of two personal guarantors having good Credit

worthiness and  financially sound and member of the   bank.

Over Draft Against FD Loan

1. Home
2. Over Draft Against FD Loan
Eligibility of  Any Individual, Proprietorship firm, Partnership firm, Pvt. Ltd. Company, LLP
borrower firm [ Except HUF, AOP ] having saving / current account with our Bank
complied with the norms of KYC.
 Must have Fixed Deposits in his own name.
 Must be a regular / nominal member of the Bank.
Proof of Business  PAN card, IE Code ,SSI certificate, Shop Establishment License, VAT / TIN / GST
in case of firm No., Udhyog  Aadhar, [ Any 2 ]
 Copy of license applicable as per nature of business.
 Notarized partnership deed and firm registration certificate issued by registrar
of firms is compulsory in case of a partnership firm.
Purpose of Loan   Personal need / Business development / Working capital etc.
Quantum of  Up to 90% of own fixed deposits with accrued interest.
finance      
Share Linkage  Borrower must have Bank share linkage @ 1% of the loan sanction amount.
Repayment  Review once in 6 Months and  renewal  in 12 Months
period  
Rate of Interest   FD Rate + 1%

Security  Lien of FDR

 What's New
 

 RuPay Card Offers

 

 Loans Schemes
 

 Deposit Schemes
 
  Services & Utilities
 

 Insurance Services
VCB Deposit Schemes
VCB provides attractive deposit Schemes with more benefits to its customers.
 Fixed Deposit
 Junior Saving Account
 Advantage To Senior Citizens
 Interest Rates

Fixed Deposits
1. Home
2. Fixed Deposits
 

 
Types of Deposits
 Fixed Deposit
 Recurring Deposit
 Automatic Renewal Deposit
 V-Co. Cash Certificate
1)    General Requirement for any types of  above deposits
 Requirement as per Savings Accounts or having any type of account which is KYC
completed with our any branch.
2) Nomination Facilities
 Nomination Facilities are available for all types of deposits
3) Interest Mode For quarterly interest payment ECS facilities are available Types
of Deposits :

1. Fixed Deposits
 Interest paid on end of term
 Any amount
2. Recurring Deposit
  Interest Rate : As per other Deposits
 Deposit Period :Minimum 1 Year to Maximum 10 Year
 Any amount (minimum Rs. 100/-) Maximum no limit
3. Automatic Renewal Deposit
 Deposit Period : Minimum 1 Month to unlimited
 Any amount
4. V-Co. Cash Certificate
 Deposit Period : Maximum 10 Year (with compound interest)
We are proud to offer service for senior citizen
Senior Citizens are an asset to our society. They have given their hard worked year for the develop
community. At this crucial age they need to be taken care of and

Varachha Bank provides benefits to Senior Citizens(60 Years and above) by providing 0.50 % Extra

Benefits
We are providing door to door facility*
 

We provide following types of Savings Account facilities.

1. No Frill Savings Account.
2. Minor Savings Account.
3. Junior Savings Account.
4. Cheque Saving Account

With Effective From : 01-Apr-2021

Duration Rate

30 Days Auto renewal 4.50 %

7 Days To 90 Days 4.50 %

91 Days To 180 Days 5.00 %

181 Days To 1 Year 5.75 %

1 Year To 3 Year Below 6.00 %

3 Year To 10 Year Below 6.25 %

Varachha Bank provides benefits to Senior Citizens (Age 60 Years and above) by
providing extra 0.50% On Fixed Deposits Scheme. *

0.50 % EXTRA rate on single certificate of above Rs. 15 Lacs to Rs. 50 Lacs *

0.75 % EXTRA rate on single certificate of above Rs. 50 Lacs *
* If Senior Citizens eligible in above both parameter, he / she can be get only one
benefit at a time.
VCB Services & Utilities
Freedom from conventional banking, We are providing bunch of digital banking services
for our customer IMPS & UPI 24x7, Net/Mobile Banking along with bank have 8
transactional e-Lobby with ATM, Cash Recyclers, Cheque Deposit Kiosk and Self
Passbook Machine also.
 ATM Services
 Cash Recycler Machine
 IMPS 24x7
 Unified Payments Interface
 Cheque Deposit Kisok

ATM Services
1. Home
2. ATM Services
Our ATMs offer more than Just Cash Withdrawals
The Varachha Bank is sub-member of NFS and our RuPay Debit cum ATM Card can be
operated at more than 1.45 Lacs ATMs.
 
 Following Services are available at our ATMs.
Normal Withdrawal
Fast Cash Withdrwal
Green PIN
Balance Inquiry
Mini Statement
Pin Change
Mobile No. Update
Cheque Book Request
Fixed Deposit Request
Inter Branch Fund Transfer
Mobile Recharge
DTH Recharge
 Eligibility
Any individual having saving bank account with one name or joint holders having
instrcutions to withdraw with one signature will able to get Varachha Bank RuPay Debit
Card.
If you have current account with sole partenership, or partenership account wherever
the withdrawal is permitted with single signature, The RuPay Debit card facility can be
enjoyed.
 Period
The RuPay Debit card is issued for eight year and then it can be renewed.
 Benifits of ATM for Customer
o ATM Provides 24 Hours Service.
o ATM gives convenience to bank's customers.
o ATM provides services without any error.
o ATM is very benificial for travelers
o ATM provides privacy in banking transactions. 
 
 Important Tips for Using ATMs   
o Keep changing your Pin at regular interval..
o Never share your Pin (Personal Identification Number) of ATM / Debit
Card detail to anyone even to your kith & kin or Bank staff.
o Complete your ATM transaction yourself without getting help from any
outsider
o Ensure that there is no shoulder surfing (looking over by someone
shoulder to get information of your Pin) in while performing ATM
transaction.
o Always collect your Debit Card after completing your transaction before
leaving the ATM site. In case of failed transaction cancel the transaction
and exit.
o Beware of any unusual thing on card slot. Watch out for any additional
device overlaying the key pad or camera is placed to capture key pad. If
you suspect anything, please inform any bank branch nearest to you.
o Avoid using the ATM which is not properly lit during night.
o Register your Mobile number with Bank to get SMS alerts.
 Various Charges
Particular Charges Remarks

Issuance  Free  Debit cards are issued free of cost

Annual Maintenance Fee Rs.150 + GST  Every Financial Year

Card Re-Issue Rs. 150 + GST  

First Green PIN Free  

Next Green PIN Rs. 100 + GST  

 
Charges on Transaction 

Transaction @ Varachha Free (For Varachha Bank Card Holder only)

Bank ATM

Transaction @ POS Machine Free

Transaction @ NFS Bank First 5 transaction are free , After  Rs. 20/- for Financial & Rs. 8/- for Non-
ATM (per month) Financial (include GST) will be charged  per transaction.

 
 Varachha Bank having 10  ATMs (On-site)
        ATM Services  at Our Below Branch
1.  Afill Tower

2.  Katargam

3.  Punagam

4.  Mota Varachha

5.  Sarthana 

6.  Hira Baug

7.  Ved-Dabholi

8.  A K Road

9.  Amroli

10.  Kargil

 
 Terms & Conditions
The terms and conditions under which the Debit cum ATM Card has been issued
mentioned below for your guidance 
Terms used here:
- Bank means The Varachha co-op. Bank Ltd., Surat
- Card means Debit cum ATM Card issued to customer
- Cardholder means customer who has been received Debit cum ATM Card.
The Card:
1. The card is the property of the bank and shall be returned unconditionally and
immediately to the bank upon request by the bank.
2. The bank reserves the right to cancel the card and stop its operations unilaterally
without assigning any reason.
3. The card is non-transferable.
The Pin:
1. The cardholder shall indemnify /disclose to any person of the personal identification
number (pin) at any point of time and under any circumstances whether, voluntarily or
otherwise. The cardholder shall not keep any written records of his pin in any place or
manner which may enable a third party to use the Debit cum ATM Card.
2. Changing of pin, revision of card limit, change of host branch or replacement of card,
etc. shall not be construed as commencement of a new contract.
3. In case of forget ATM PIN, Please visit nearst ATM of Varachha Bank and Choose
Green PIN option to set/reset ATM PIN (Charges will be applicable).
Loss of Card:
1. The card holder should immediately notify the branch from where he/she has
obtained the card if the card is lost / stolen. The cardholder should change the pin
immediately it is accidentally divulged.
2. Any financial loss arising out of unauthorized use of the card till such time the bank
records the notice of loss of card will be to the card holder’s account.
3. The cardholders shall intimate, the loss of the Debit cum ATM Card to bank
/branch/phone number +91 9586644644 and also to the branch where he/she is
maintain the account by way of a written communication during  working hours. On
receipt of the lost card information from the customer, head office will hot list the card.
4. In case of lost card you can temporary freez your A/c. for prevent faurd issue, from
your registered Mobile No. just send sms VARA LOST Your 14 digits A/c No. and send
it on Mobile No.9355492200.
However, bank shall not liable for the transactions happened using the lost card, prior to
the hot listing of the card.

Debit customers account:

1. The bank has the express authority to debit the designated account of the cardholder
for all withdrawals/ transfers effected using the card as evidenced by bank’s records,
which will be conclusive and binding on the card holder.
2. The card holder expressly authorizes the bank to debit the designated account with
service charges from time to time.
Transactions:
1. The transaction record generated by the ATM will be conclusive and binding unless
found to be otherwise on verification and corrected by the bank. The verified and
corrected amount will be binding on the card holder Deposits (cash and/or Cheque etc.)
Will be verified by two of officials of the bank and their account will be deemed to be
correct. Errors will be notified to the card holder by mail.
2. Outstanding Cheque, dividend draft, dividend warrants etc. will normally be accepted
on collection basis/immediate credit subject to bank’s existing term and conditions
governing such business.
ATM usages:
The card can be used at the ATM location with the help of the confidential pin. All
transactions conducted with use of the pin will be the cardholder is responsibility. The
cardholder agrees that he will be allowed to withdraw only a certain amount of cash per
transaction per day as determined by bank irrespective of the credit balance in the
account(s).This amount will be announced from time to time. Any attempt to violate this
limit may lead to withdrawing of his card facility. When the cardholder completes a
transaction through an ATM he can opt to receive a printed transaction record i.e. the
transaction slip/ATM receipt. The amount of available fund is shown on this ATM receipt
when he cardholder uses his card. The cardholder is advised to retain the record of
transaction generated by the ATM with him. Cardholder agrees not to attempt to
withdraw using the cards unless sufficient funds are available in the account. The onus
of ensuring adequate account balances is entirely on the cardholder.
Merchant Location usages:
Bank Debit Cards affiliated to NFS (NPCI) are accepted at all Merchant Establishments
displaying Rupay Logo. The Merchant should have an electronic (Point- of- sale) swipe
terminal. Usage is permitted up to Rs. 25,000 per day at Merchant locations say,
Restaurants, Hospitals, Departmental Stores, Textile outlets; Jewelries etc. present your
debit card for payment of the purchase amount. The merchant will swipe the card in the
point-of-sale machine for authorization. You will be presented the PIN pad, Key in your
PIN at the merchant establishment. After a successful authorization, a charge slip is
generated from the POS machine. Ensure for correctness of the amount and sign the
charge slip exactly as appearing on the reverse of your card. Collect back your card and
your copy of the charge slip. Please retain the charge slip copy till you verify the amount
as appearing in your bank statement of account. There are certain exceptional cases
where you may be billed extra service charges while making use of your Card with MEs
such as Petrol Bunks, Railways, etc. Only if you agree to bear extra charges, you
should proceed with the transaction. Such service charges together with the charge slip
amount will be debited to your operative account. Please note that since signature
verification is essential for debit card transactions you need to be physically present
along with your card at the time of purchase. Debit card can be used on the Internet (e-
commerce transaction) provided the card is registered with Verified by NPCI Rupay
PaySecure.
Closing of accounts:
1. The card holder wishing to close the designated account or surrender the ATM facility
will have to fill Form for stop ATM facility.
Validity of card:
1. Cards are valid for 8 years from date of issue. Please note that if the card is used
after expiry, it will be either be retained or rejected by the atm.
Range of Services:
1. Balance Enquiry:  Cardholder can see the balance in his accounts linked to ATM
card on the screen as well as obtain a transaction receipt showing the balance.
2. Statement of account:  A statement containing the last five transactions in the
account can be obtained during the day mode.
3. Deposits (cash / Cheque) (not available at present): Cardholders are requested to
deposit cash / Cheque at the ATM located at the branch where they maintain their
account only after receipt at the customer’s branch and realization thereof.
4. Change of PIN:  Customers can change their pin by any networked ATM.
Fees and Charges:
The annual fees for the card will be debited to the primary account linked with the card
on application / renewal at the bank’s prevailing rate. These fees are not refundable.
The cardholder shall maintain at all times such minimum balance in the account, as
bank may stipulate from time to time. Bank reserves the right at any time to charge the
cardholder for the issue or reissue of a card and any fees/charges for the transactions
carried out by the cardholder on the card. Any government charges, duty or debits, or
tax payable as a result of the use of card shall be the cardholder’s responsibility and if
imposed upon bank (either directly or indirectly),bank shall debit such charge, duty or
tax against the account. In addition, operator of shared networks make imposed
additional charge for each use of their ATM/POS terminal/other devise, and any such
change along with other applicable fees / charges will be deducted from the
cardholder’s account. In the situation that the account does not have sufficient funds to
deduct such fees, the bank reserves the right to deny any further transactions. In case
of accounts classified as overdrawn accounts, the cardholder will have to rectify the
account balance position immediately. This charge will be determined by the bank and
will be announced from time to time. Details of the applicable fees and charges as
stipulated by bank will be displayed on the website and / or at the branches.
Procedure for notifying lost card: -customers should inform the branch which has issued
the card in writing immediately
Note: -The bank reserves the right to introduce new facilities or remove existing
facilities as and when warranted assigning any reason or the same. However
cardholder will be duly advised.

Cash Recyclers (CRs)

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2. Cash Recyclers (CRs)
Experience convenience of Cash Deposits even after Banking Hours
Deposit, Withdraw Cash Anytime with our Cash Recycler Machine
 

The Cash Recycler machine (CR) is a self service terminal that lets
you and me to make deposit and withdrawal transactions of cash. All successful
transactions are immediately credited or debited in real time and customers will be
issued an acknowledgment slip confirming the transaction. A person having Debit Card
can use the CR machine for withdrawal, however to use the CR machine for depositing
the Cash, customers need to have his/her Varachha Bank debit card. The transaction
receipt also gives you your updated account balance. Some of the salient features of
this product are:
 Cash recyclers are able to accept cash from customers and dispense as well.
 Machines are supported with Bill Validation Technology to ensure genuineness
of currency.
  Counterfeit Recognition and retention (as per RBI Note Authentication and
fitness Sorting parameters) with accuracy along with 100% trace for serial
number of the currency notes to the account of the customers, i.e. all counterfeit
notes that are rejected/not given value can be traced to the customer accounts.
 Cash deposit with debit card up to Rs.3,00,000/- (3 Lacs) per day in Saving
Account & Rs. 10,00,000/- (10 Lacs) per day in Current & CC/OD Account where
PAN is registered and Rs.49, 999/- where PAN is not registered in account.
 Customer can also deposit cash into thier recurring deposit account (Limit will be
monthly installment) 
 If customer deposits over the permissible limit then the RECYCLER rejects the
transaction and notes are presented back to the customer.
 Upon Cash deposit, RECYCLER counts the notes and displays the count
denomination wise and the total amount inserted in RECYCLER for deposit,
Customer has to confirm the same.
 Fake note, Suspicious Note is impounded and receipt will be given to the
customer.
 Torne/Mutilated/Taped notes are not accepted by this machine.
 The machines will accept the Rupee notes in the denominations of 2000, 500,
200, 100.
 Other bank customers can also use VCB cash recycler , however at present they
can use only for cash withdrawal facility.
 Cash Withdrawal will be supported for NFS/VISA/MasterCard network on Cash
Recycler.
 Loan & Fixed Deposit Accounts are not supported.
 Cash can NOT be deposited in In-active accounts.
Other services available on cash recycler
 Normal Cash Withdrwal
 Fast Cash Withdrwal
 Green PIN
 Balance Enquiry
 Mini Statement
 PIN Change
 Inter Branch Fund Transfer
 Mobile Recharge
 DTH Recharge

IMPS 24 x 7
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2. IMPS 24 x 7
Interbank Money Payment System OR Immediate Payment Service
Introduction to IMPS and its advantages
IMPS is a new service that is set to revolutionise the retail money payment sector in
India. We take the pride to announce that VCB Bank has already joined the revolution
since 05th May 2015 (As beneficiary). All the registered Customers will now be able to
recevie money instanlty to their accounts to any other account in the country via IMPS.
Key featuers of IMPS are as follow:-
 Instant Interbank fund transfer
 Convenient and time saving
 Anytime, anywhere service
 Safe & Secure
 Simple and easy to use
 24*7*365 avaliability 
 Instant confirmation to Sender and Receiver 
How to receive fund 
P2A (Person to Account) 
• Share your Account Number and your Branch IFSC Code with the remitter
• Ask the remitter to send money using your your Account Number and IFSC Code
• Check the confirmation SMS for credit to your account from the remitter 
 

Unified Payments Interface (UPI)

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2. Unified Payments Interface (UPI)
Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a
single mobile application (of any participating bank), merging several banking features,
seamless fund routing & merchant payments into one hood. It also caters to the “Peer to
Peer” collect request which can be scheduled and paid as per requirement and
convenience.
How to get it:
 Bank a/c
 Mobile number should be linked with bank a/c
 Smart Phone with internet facility
 Debit Card for re-setting MPIN.
 
Service Activation:
 Download the App for UPI
 Do registration online on the App with a/c details
 Create a virtual ID
 Set MPIN
 5-7 minutes
 
What is required for Transaction:
 Smartphone with internet facility
 Registered device only
 Use registered MPIN
 Self Service Mode
 
Transaction Cost:
 NIL to customer by most Banks
 Customer pays for data charges
 
Services Offered:
 Balance Enquiry
 Transaction History
 Send / Pay Money
o Virtual Address
o A/c no. & IFSC code
  Collect Money
o Virtual Address
  Add bank account
  Change / Set MPIN
  Check transaction status
 
Funds Transfer limit:
 20,000/- per transaction
 40,000/- per day account
 Fresh Registration first transaction limit is Rs. 5,000/-

Cheque Deposit Kiosk

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2. Cheque Deposit Kiosk
Cheque Deposit Kiosk (No More Queues)
You do not need to stand in queue at the branch any more to deposit a cheque with our
cheque deposit machines*. You can deposit get a comprehensive receipt with cheque
image.
Features & Benefits
 Deposit your cheque through the simple and fast CDK installed in the branch
 Immediate receipt
 No need to fill cheque deposit slips
 No need to stand in long queues
 To use the CDK, you simply need to have The Varachha Co-op Bank Ltd., Surat’s
account number in which you wish to deposit the cheque
How to Deposit Cheque in CDK
 Click on the ‘Please touch here to continue’ button for proceeding with the cheque
deposit.
 Enter account number in which you wish to deposit the cheque along with the cheque
amount.
 If the details are correct, Customer need to selects the ‘Yes’ button.
 CDK will validate the account number and display the name of the account holder.
 Once the details are verified, the customer can proceed with the cheque deposit by
clicking on the ‘Insert’ Button and inserting the cheque in the deposit slot.
  System will scan the image of the cheque and will read the MICR band. System will
accept the cheque deposited. It will also generate a receipt for the deposit.
Please do not deposit:
 High value and non-MICR cheques. These may be deposited at the counter. 
Please do:
 Write your account number on all correspondence with the bank.
Note:
 Deposits made after the cut-off time indicated at the respective Cheque Deposit
Machines will be sent for clearing on the next working day.
* Offered at select branches only
Drop Box Services
In our rest branches Drop box services have been developed and implemented to
extend convenience to customers. It is a service where you can drop cheques at any
VCB Bank ATM drop box for clearing. The cheques dropped would be cleared at a pre-
defined frequency.
VCB Insurance Services
Now, instead of different agents of different companies, all insurance services will be
provided under one roof by Varachha Bank.
 RuPay Card Insurance
 Accident Insurance
 General Insurance
 Jan Surkasha
(PMJJBY & PMSBY)
 VCB Insurance
Accident Insurance
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2. Accident Insurance

Varachha Bank Provide Accident Insurance for all type of accounts as mentioned.
Policy Schedule:
Policy Number : 54819835
Policy effective from 00:01 hrs 01/03/2021 To MidNight 28/02/2022
Insurance Company Name: IFFCO Tokio General Insurance Company Limited
 Details Sum Insured Per Person

Loan A/c Holders Rs. 2,00,000/-

Current A/c Holders Rs. 2,00,000/-

Saving A/c Holders Rs. 1,00,000/-

Deposit Holders Rs. 50,000/-

Share Holders Rs. 2,00,000/-

General Insurance
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2. General Insurance
Varachha Bank Provide various General Insurance Services
 Personal Accident Insurance
 House-hold Insurance
 Vehicle Insurance
 Medical Insurance
 Fraud Insurance
 Home & Family Protector Insurance
 Trade Protector Insurance
 Office Protector Policy
 Industrial Protector Insurance
Condition will be apply as per Insurance Company
VCB Insurance Services
 Pradhan Mantri Jivan Jyot Bima Yojana
 Pradhan Mantri Suraksha Bima Yojana
 Accident Insurance
 General Insurance
 RuPay Card Insurance
 Insurance Customer's Reviews
PRADHAN MANTRI JEEVAN JYOTI BIMA YOJANA
Features and Advantages
Features  Protect your family’s financial security in an eventuality
 Simplified proposal form for enrolment
 Cover of Rs.2 lakh at a reasonable cost
Advantages  Safeguard your family against financial difficulties
Simplicity  Fast enrollment and swift processing
 No medical examination required, acceptance is based on satisfactory health declarations in the
Affordability  Insure yourself for a cover of Rs.2 lakh at a nominal premium
 
Plan Benefits
Maturity/  There is no maturity or surrender benefit under this plan.
Surrender
Benefit
Enrolment  The date of commencement of insurance cover is the date of debit of premium from the ins
and the insurance cover will be up to 31st May of the subsequent year. Thereafter, the cover c
debiting the premium from your saving bank account. The premium is subject to change as spe
time.
 In case a member wishes to join the scheme post 1st of June, he/ she can do so with the pay
month of joining and submission of requisite documents/declaration, if any, as specified by s
specified by the Government of India from time to time. Full year’s premium i.e. Rs 330/- wou
scheme and pro-rata payment would not be allowed.
Tax Benefits  Income Tax benefits/exemptions are as per the applicable income tax laws in India, which a
consult your tax advisor for details
Plan at a Glance
Age at Entry  Minimum: 18 years (Age last birthday)
 Maximum: 50 years (Age nearest birthday)
Maximum Maturity  55 years (Age nearest birthday)
Age
Policy Term  One year renewable term
Sum Assured  200000 Two lakhs only
Premium Amount The annual premium is 330 (including administrative charges payable to Banks which i
  
In the first year of enrolment the premium applicable will be as per the table below:
Month Of enrolment Premium payable for Premium amount paya
June, July & August Entire policy year Rs. 330/-
i.e. 4 quarters
September October 3 quarters Rs. 258/-
December, January 2 quarters Rs. 172/-
& February
March, April & May 1 quarters Rs. 86/-
Lien Period  45 days from the date of enrolment into the scheme
       (entry date/date of commencement of insurance cover)
*Click here for Download PMJJBY Join Form

VCB Insurance Services

 Pradhan Mantri Jivan Jyot Bima Yojana
 Pradhan Mantri Suraksha Bima Yojana
 Accident Insurance
 General Insurance
 RuPay Card Insurance
 Insurance Customer's Reviews
PRADHAN MANTRI SURAKSHA BIMA YOJANA
Features and Advantages
Details of  Premium payable is Rs.12/- per annum per member.
the scheme  The scheme will be a one year cover, renewable from year to year, Insurance Scheme
offering life insurance cover for death due to accidential death.
 Scope of coverage: All savings bank account holders in the age 18 to 70 years in bank
will be entitled to join. In case of multiple saving bank accounts held by an individual
in one or different banks, the person would be eligible to join the scheme through
one savings bank account only.
 Claim should be intimated to National Insurance Co. ltd. within 30 days after an
accident.
 Benefits
  Table of Benefits Sum
Insured

1 Accidential Death Rs. 2 Lakh

.
2 Total and irrecoverable loss of both eyes or loss of use of both hands or feet or loss of sight Rs. 2 Lakh
. of one eye and loss of use of hand or foot

3 Total and irrecoverable loss of sight of one eye or loss of use of one hand or foot Rs. 1 Lakh
.

Termination of cover
The accident cover for the member shall terminate on any of the following events and
no benefit will be payable there under:
 On attaining age 70 years (age nearest birth day).
 Closure of account with the Bank or insufficiency of balance to keep the insurance in
force.
 In case a member is covered through more than one account and premium is received
by the Insurance Company inadvertently, insurance cover will be restricted to one only
and the premium shall be liable to be forfeited.
 If the insurance cover is ceased due to any technical reasons such as insufficient
balance on due date or due to any administrative issues, the same can be reinstated on
receipt of full annual premium, subject to conditions that may be laid down. During this
period, the risk cover will be suspended and reinstatement of risk cover will be at the
sole discretion of Insurance Company.
 Participating banks will deduct the premium amount in the same month when the auto
debit option is given, preferably in May of every year, and remit the amount due to the
Insurance Company in that month itself.
The Varachha Co-Op. bank ltd., will be the Master policy holder for the PMSBY
scheme, policy issued by National Insurance Co. ltd.
*Click here for Download PMSBY Join form
VCB Insurance Services
 Pradhan Mantri Jivan Jyot Bima Yojana
 Pradhan Mantri Suraksha Bima Yojana
 Accident Insurance
 General Insurance
 RuPay Card Insurance
 Insurance Customer's 

VCB Digital Banking

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2. VCB Digital Banking
VCB Banking Utilities

Varachha Bank provide advance utilities for more easy and convenience banking.
 ATM Services
 ATM Green PIN
 Net / Mobile Banking
 Cash Recycler Machine
 Cheque Deposit Kiosk
 Self Passbook Print Machine
 Lockers
 Missed Call Service
 SMS Alerts
 IMPS
 UPI
 RTGS-NEFT

VCB Mobile Banking

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2. VCB Mobile Banking
VCB Mobile Banking

Mobile Banking / Net Banking (With Transaction Facilities)

1. Mobile Banking Application working for Android and iPhone(iOS) platform for smart phone.

2. Varachha Bank provide various financial and non-financial transaction like internal

 
In Mobile Banking Application and Net Banking Facility.
 In Future Varachha Bank Plan to Provide Online FD Service Via Net Banking /
Mobile Banking Application .
 
1. Fund Transfer

2. Manage Services (To Stop/Start Service & To Increase/Decrease Per Day Transaction Limit)

3. IMPS Transaction (24 x 7 x 365)

4. NEFT Transaction

5. Schedule Transfer

6. Utility Bill Pay(Gas, Electricity, Water Bill etc.)

7. Recharge (Mobile/DTH)

8. ATM Card On/Off/Block

9. Detailed Statement (1 Year)

10. Cheque Book Request

11. Cheque Stop Payment Request

12. Clearing Cheque Status (I/W / O/W) etc.

Banking
 Banking Services
 VCB Insurance Services
  VCB Digital Banking
 VCB Mobile Banking
 ATM Services
 Internet Banking
 Offers / Cash Back
 Cash Recyclers (CRs)

Internet Banking
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2. Internet
 

 Available Services in Internet Banking

 Internal Fund transfer
 NEFT
 Online Fixed Deposit
 Self Statement Print
 Cheque Book Request
 Cheque Stop payment Request
 Utility Bill Payment
 ATM Card On/Off
 ATM Card Blocked