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Ratnakar Bank

Ratnakar Bank is one of the growing banks in Maharashtra. The bank was founded in 1943. The Ratnakar Bank Ltd. is a scheduled commercial bank and it is headquartered in Kolhapur.

About Ratnakar Bank

Ratnakar Bank has made its mark in the commercial banking sector of India. The bank was established in 1943. The founders of Ratnakar Bank are Shri. Babgonda Bhujgonda Patil, a renowned advocate and Shri. Gangaram Siddhappa Chougule, a businessman from Kolhapur.

Ratnakar Bank received the status of a scheduled commercial bank from the Reserve Bank of India within a small period of 16 years from its inception. The board of directors of the bank consists of skilled professionals from different industries such as merchants, agriculturists, prominent traders, business management graduates and chartered accountants. Currently, the bank is run under the expert guidance of Shri Subhash G. Kutte, Managing Director & CEO of the bank.

Ratnakar Bank Ltd. has tie ups with Kotak Life Insurance and Bajaj Allianz General Insurance Company Ltd. and offers life and general insurance products.

The bank has a huge client base of more than 550,000 people. The bank carries out its operations through a network of 84 branches in Karnataka, Maharashtra, Gujarat, Goa, the Union Territory of Dadra & Nagar Haveli and New Delhi. Till date, 53 branches offer core banking solutions and 10 other branches are fully computerized branches.

Ratnakar Bank products and services

Ratnakar Bank has every product to meet the needs of every customer. The products and services offered by Ratnakar Bank are enumerated below:


  1. Housing Loans
  2. Car Loans
  3. Two Wheeler Loans
  4. Agricultural Loans
  5. Educational Loans
  6. Consumer Loans
  7. Commercial Credit Loans
  8. Loans for Professionals/ Purchasing Medical Equipments
  9. Super Secured Loan Scheme
  10. Sanjeevani Mortgage Loan Scheme
  11. Ratna - Trade (Working Capital)
  12. Recurring Deposit
  13. Non-Resident External (Rupee) Account


  1. Fixed Deposit
  2. Ratnakar Tax Saving Term Deposit Scheme 2006
  3. Amrutkumbha Lakshadish Deposit
  4. Kalpavruksha Nirantar Deposit
  5. Monthly Interest Payable Deposit Scheme
  6. Cash Certificate
  7. Utility Deposit Schemes
  8. Reinvestment Deposit
  9. Unit Deposit Schemes
  10. Current Account
  11. Ratna Vyapar Plus Current Account
  12. Ratna Max Income Savings Account
  13. No - Frills Deposit Accounts


  1. Merchant Banking
  2. Western Union Money Transfer
  3. Depository Services and Dematerialization
  4. Leasing Finance
  5. Insurance and Investment Opportunities
  6. ATM Services
  7. Venture Capital Fund
  8. Credit Counseling Services
  9. Drafts

Free Services

Ratnakar Bank Ltd. has an array of free services for its customers which includes the following:

  1. Issuing of 1st pass book, term deposit receipts, statement of accounts and cheques for saving deposit account
  2. Opening and maintenance of No Frill accounts
  3. Offering electronic clearing services apart from return cheques
  4. Balance enquiry (including enquiry for up to 2 years old transactions)
  5. Local cheques collection
  6. National Electronic Fund Transfer (NEFT) – only for inbound transactions.
  7. Cash payment through every type of account
  8. Cash Deposits for Term Deposit, Saving, cash credit and Current A/c up to Rs.5.00 lacs
  9. ATM services
  10. Deposit receipts collection of other banks
  11. Guidance for different types of deposits and loan accounts and additional banking services
  12. Standing instructions for debit/credit of internal transactions
  13. Inter branch transfer of Rs.10,000/- under CBS

Ratnakar Bank Contact Details:

The Ratnakar Bank Ltd.,
Administrative Office:
Shri Shahu Market Yard,
Kolhapur - 416005. Maharastra State, INDIA
Ph: 0231-2650981 to 984
Fax: 0231-2657386

E-mail: it@theratnakarbank.com


Ratnakar Bank


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