“The co-operation is the gateway to financial independence"
- Mahatma Gandhi
"Each For All and All For Each" is the robust principle at Udaya Souharda Credit Co-operative Society Ltd. We are successfully serving our member community for their upliftment nearly Three Decades with basic financial needs.
Services at Udaya Souharda Credit Co-operative Society Ltd, are tailor-made to suit India’s economic changes. Our financial products compete with the best financial institutions. Being a strong financial co-operative and Model Institution in Bangalore, we provide various attractive Deposits Schemes, Saving Plans, Loan Facilities, Locker Facilities etc…
At Udaya Souharda Credit Co-operative Society Ltd. we believe –
Established in 1996, in a small rented Room at Hanumanthanagar, Bangalore with the main objective of establishing a co-operative society which serves in economic upliftment of its members in and around South Bangalore. Our various schemes are customized to every individual needs.
We started functioning under the leadership of Sri B. S. Gundu Rao, ably supported by Sri N. Chandrashekhar, Sri Tejmal, under the guidance of Sri M V Srinivasaiah and late M V Suryanarayana.
With a humble beginning of 500 members with a share capital of Rs.5.00 lakhs, today we are a society having more than 4500 members and a share capital of Rs.3.00 crores. With working capital Rs.130.00 crores we foresee becoming one of the largest co-operative in the country.
Welcome to Udaya Souharda Credit Co-operative Society Ltd .
Our Co-operative was established in the year 1996 to fulfill expectations of the downtrodden of our society. For the past two and half decades, our Co-operative is working towards improving economic prosperity of our members.
I have been serving as Co-Founder and President of our Co-operative Society since its Inception. With a lot of cooperation from all our Board of Directors and by active participation of our Members our establishment is growing very fast. I have participated in various co-operative movements throughout the country. We are conducting people oriented sahakari programmes across the state of Karnataka in order to create awareness about Co-operative principles and objective among the Sahakaries.
I am proud to say that our Co-operative which was established in a small rented room with a zeal to become leaders in Co-operative sector, grown leaps and bounds in terms of accepting of deposits and lending loans to it's members and it has become a model Co-operative in the State. We have been awarded "SAHAKARA RATNA" from the Karnataka Government.
As a responsible Organisation for Socio-economic development of our society, apart from need based financial services to our members, by identifying lower strata of the society. We are promoting value based education among the economically weaker section of the student community. Besides this we are encouraging the children of our members for their higher studies by felicitating them in our annual "Prathibha Puraskara" programme. We invite guests from different fields particularly in education to encourage and motivate their talents.
We have also a custom to felicitate senior citizen amongst our members. This gesture was well received and appreciated by one and all, particularly senior citizens.
IIn addition to above we are also felicitating achievers who made their name and fame at National and International level in the field of Education, Science, Sports and Entertainment etc. etc.
We are marching ahead in our endeavour in economic upliftment of our members by adopting the Co-operative principles “Each For All and All For Each ".
We have created a landmark in Co-operative field as a leading Co-operative in the State popularly called as "Udaya Souharda". The achievements, whatever we have made till today, it is because of best support from our members who encouraged and supported all our schemes and projects.
I hope the facts and information mentioned in the aforesaid paras would be useful
for the viewers of “ Udaya Souharda Website”.
Join us for mutual growth.
Our Staff |
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| Sl. No | Staff Name | Designation |
| 1 | Shri. Srikanth | CEO |
| 2 | Smt. Chandrika M S | Cashier |
| 3 | Shri. Rajashekar P S | Second Division Clerk |
| 4 | Shri. Yogesh M | Assistant |
| 5 | Shri. Sadananda K | Credit Section |
| 6 | Shri. Akash C B | Credit Section |
| 7 | Smt. Shruthi S | Credit Section |
| 8 | Kum. Akanksha B S | Credit Section |
| 9 | Smt. Harshitha N K | Credit Section |
| 10 | Shri. Prashanth M K | Chits Section |
| 11 | Shri. Ganesh N Naik | On Contract |
| 12 | Smt. Sushma C | Chits Section |
| 13 | Shri. Darshan R | Chits Section |
| 14 | Kum. Ananya G | Chits Section |
| 15 | Smt. Rathnamma | Cleaning Staff |
| 16 | Smt. Nandini | Cleaning Staff |
| 17 | Shri. Raju | Security |
2022 - Udaya Souharda got the Prestigious Award of Karnataka State Sahakara Mandala, for the best services rendered in the field of Sahakara Kshetra - “SAHAKARA RATNA PRASHASTI”
2022 - “Silver Jubilee Function” Celebrated with members and dignitories from Government of Karnataka
2022 - Our Honourable President Shri. B. S. Gundu Rao, has been Elected for Second Term as the Director of Karnataka State Souharda Federation Co-Operative Ltd., representing Bangalore Zone
2018 - Construction of 4-storey modern building
Best state of art facility building constructed at a total cost of Rs. 10.00 crores
2017 - Selected for International Research Study
International Co-operative Alliance for Asia & Pacific region under Indo-Canadian joint venture selected us Research and Study in Co-operative sector from Indian perspective
2013 - Declared as one of the best Co-operatives in Karnataka
2009 - As a CSR activity we helped flood victims of the northern Karnataka
2007 - Dashamanotsava celebration with members and dignitories
1996 - The rise of " Udaya Souharda "
Group of enthusiastic like-minded people joined hands to form a co-operative society in a small rented room with mere 500 members and share capital of Rs.5.00 lakhs
"All round development of a village is possible only when there is a school, a panchayat and a co-operative society."
- Jawaharlal Nehru
Double the deposited amount in 99 months. 94 months for Senior Citizen
Avail loan facility against the deposits made.
Under Recurring Deposit account, a member pays a fixed amount of money for a fixed period and interest
This regular small money savings plan helps members to cater to short-term, long term and emergency financial needs.
To promote small savings amongst members and utilize when needed. Monthly payable installments for a tenure period of 40 months & 30 months.
| Chit values and Payables | Chit Value Monthly Payable |
|---|---|
| Rs. 1 Lakh | Rs. 2,500 |
| Rs. 2 Lakhs | Rs. 5,000 |
| Rs. 3 Lakhs | Rs. 7,500 |
| Rs. 3 Lakhs | Rs. 10,000 (30 Months) |
| Rs. 5 Lakhs | Rs. 12,500 |
| Rs. 10 Lakhs | Rs. 25,000 |
| Rs. 15 Lakhs | Rs. 50,000 (30Months) |
| Rs. 20 Lakhs | Rs.50,000 |
Education Assistance for Students We believe today's youth are the backbone of developing India. We springboard them through nurturing and assisting. From our Prathibha Puraskara program we honor the talented students of our society member’s every year. We honor & appreciate each student’s efforts and also encourage financially backward children (Studying in Kannada & English Medium at Govt. schools)
Felicitation to Senior citizen members Advices & encouragements are essential to grow for any organization. Giving importance to this and imbibing it in our actions is our duty. Hence we recognize Senior Citizens who guide us through their experiences and learnings. We honor and facilitate them every year.
Achievers Felicitation We identify achievers from various walks of life and honor them on the day of every General Body meeting. Some Achiever awardees to name a few - Freedom fighters Doraiswamy, Salumarada Thimmakka, Vishesha Chetana Para- Olympic Swimmer Shri.Vishwas K S, PadmaShri winner Halakki folk songs Smt. Sukri Bommagowda, United Nations Award winner Blind Girl Mrs. Ashwini Angadi who fought against disability discrimination, film actors Smt. RT Rama, Smt. Shailashree, Shri. Biradar, Shri. Shivshankar (Director), one of India's leading Blind cricketers, Shri Prakash Jayaramaiah.
Cultural Fest Sri Ramanavami cultural festival is celebrated every year. It’s one of the big events we celebrate with General Public by distributing of Prasadams to all floating crowd near our premises.
Death Relief Fund (DRF) A DRF is established in the name of "M.V Suryanarayana". Under this scheme the Nominee of demise member will get a compensation of Rs 25,000.
Health Benefits We are providing Karnataka health insurance “Yeshaswini” to the members of our Co-operative Society.
| Duration | Members | Senior Citizen |
|---|---|---|
| 3 Months to within 6 Months | Annual interest rate of 5.0% | Annual interest rate of 5.0% |
| 6 Months to within 12 Months | Annual interest rate of 5.5% | Annual interest rate of 5.5% |
| 12 Months to within 24 Months | Annual interest rate of 6.5% | Annual interest rate of 7.0% |
| 24 Months to within 36 Months | Annual interest rate of 7.5% | Annual interest rate of 8.0% |
| 36 Months & Above | Annual interest rate of 8.5% | Annual interest rate of 9.0% |
The Recurring Deposit account is an account where a members can deposits a fixed amount of money for a tenure. This scheme is meant for members whose income is fixed and decides to get a lump sum after the closer of tenure period. The small monthly savings in the Recurring Deposit scheme enables the depositor to accumulat a substitutional amount on maturity.
This is an ideal plan to cultivate the habit of regular savings. Monthly regular saving builds a good corpus to provide for your short Term as well as long Term financial requirements.
| Duration | Members | Senior Citizen |
|---|---|---|
| 12 Months & Above | 6.5% | 6.5% |
| 24 Months & Above | 7.5% | 7.5% |
| 36 Months | 8.5% | 8.5% |
Requirements for Opening Account
| Duration | Rate Of Interest |
|---|---|
| Within 9 months | Preclosure 3% Penality |
| Above 9 months and Up to 12 months | No Interest |
| Above 12 months | 3% Interest will be paid |
| Certificate | Members | Senior Citizen |
|---|---|---|
| Aishwarya Cash Deposits | Double in 94 Months | Double in 99 Months |
| Amount | Rate of Interest |
|---|---|
| From one lakh to one crore | 14.00% |
Simple mortgage for immovable property.
As applicable.
As applicable.
Two sureties required from regular members of the society along with IT & Income Proof.
| Amount | Rate of Interest |
|---|---|
| 1 lakh | 16.00% |
| Amount | Rate of Interest |
|---|---|
| Loan on Deposits | 2.00% (Extra on Deposits Interest) |
Loan can be availed on Deposits up to 80% of the total amount of the certificates by pledging them.
Savings are important, they are handy at any point of time. Keeping this in mind to make our Members’ lives convenient, we have formulated chit fund schemes ranging from Rs. 1 lakh to Rs. 20 lakhs in accordance with karnataka Government’s rules and regulations.
All our chit funds are of 30 or 40 months duration. For more Chit Funds details click here…
For the safety of your valuables, we offer safe deposit locker facility with nominal annual rent depending on the size of locker. Rent is payable in advance for the Financial Year. A copy of the locker agreement regarding operation of the locker will be provided.
Benefits of nomination facility survivorship clause is also provided to locker-hirers. The major advantage of availing this facility is that in the event of unfortunate death of one of the joint locker-hirer, the right to the contents of the locker does not automatically devolve on the surviving joint locker-hirer/ nominee(s), unless there is a survivorship clause/ nomination.
| Sl. No | Types of Locker ( H/W-DEPTH ) | Application Fee | Annual Rent | Rent Advance | Deposit |
|---|---|---|---|---|---|
| 1 |
Small size ( 5 / 7 - 22 ) |
150 | 1,000 | 3,000 | 10,000 |
| 2 |
Medium size 5 / 14 - 22 ( 7 / 10 - 22 ) |
150 | 1,500 | 4,500 | 15,000 |
| 3 |
Large size ( 8 / 22 - 22 ) |
150 | 5,000 | 15,000 | 25,000 |
Most Important Terms & Conditions :
The Udaya Souharda Co-Operative, is providing E-stamp under Karnataka State Souharda Act-2000 for the benefit of public. The main features of E- stamp vending is furnished here below for information.
“E-Stamp” means an electronically generated impression on paper to denote the payment of Stamp duty, by Central Record Keeping Agency.
“Authorized Stamping Centre” shall mean and include an agent appointed by the Central Record Keeping Agency, with prior approval of the Chief Controlling Revenue Authority to act as an intermediary between the Central Record Keeping Agency, and the Stamp duty payer for collection of Stamp duty; and for issuing E-stamp certificates.
Application for E-stamp certificate
Any person paying Stamp duty may approach any of the Approved Intermediaries; / Authorized Collection Centers and furnish the requisite details in FORM-3 along with the payment of Stamp duty amount, for getting the e-stamp certificate.
Stamp Duty
Stamp Duty means the duty payable under the Act.
Use of E-stamp certificate
Every instrument written upon paper stamped with an e-stamp Certificate shall be written in such manner that the e-stamp Certificate may appear on the face of the instrument, and a portion of the Instrument written below the E-stamp certificate, so that the E-stamp Certificate cannot be used for or applied to any other instrument.
No second Instrument chargeable with duty shall be written upon or using the E-stamp certificate, upon which or using the same, an Instrument chargeable with duty has already been written.
Udaya Souharda Credit Co-operative Society Ltd.
No:29/11, Udaya Sahakara Bhavana,
Mount Joy Road, Hanumanthnagar,
1st Main Road,,
Bangalore-560 019
