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What is your Bank?  Is it a Cooperative Bank?



The Coastal Local Area Bank Ltd.,  is like any other private sector bank, viz ICICI Bank, Axis Bank, Laxmi Vilas Bank, Karur Vysya  Bank, ING Vysya Bank etc.,

The bank was registered under Companies Act.1956, as per the license issued by the Reserve Bank of India (RBI).  The bank is under the regulatory supervision of the RBI.  RBI conducts annual financial inspection (AFI) every year and ensures proper conduct of the bank operations as per the regulations.




At what level the RBI has assessed the performance of the Coastal Local Area




Bank Ltd.,?



The Bank’s performance is considered satisfactory.




How many branches you have?  


The bank has been functioning in 5 districts of Andhra Pradesh. They are Guntur, Krishna, West Godavari, East Godavari and Visakhapatnam. The Bank has 45 branches functioning in these 5 districts. The names of branches, their addresses and phone numbers are furnished in the pamphlet supplied.




How strong you are?


The strength of a bank is judged by certain important parameters.                                         

  (Rs. in lakhs)       

Parameters Performance as on 31-03-2017 Parameters Performance as on 31-03-2017
 Deposits 40545.66  Advances 30042.05
 Total business 70587.71  Clientele base 308102
 Net Profit 876.53  Net worth 5340.81



How safe it is to deposit money with the bank?


Coastal local area bank ltd is a strong bank, governed by competent and experienced personnel. The bank is functioning on strong fundamentals, with the board approved policies, systems and procedures, complying with the RBI regulations.  The asset (loan) portfolio is strong and safe with adequate collaterals. The portfolio consists about 23% gold loans to total credit and highly satisfactory recovery performance.

The deposits of each individual are insured up to Rs.1.00 lakh, with the Deposit Insurance Corporation (DICGC), which is an extended arm of RBI.




What rates of interest are being offered on deposits?


The details are furnished in the pamphlet supplied.  The bank is offering the best rates of interest on deposits compared to any other commercial bank operating in these 5 districts.

Further, the Bank is offering 0.5% interest extra for senior citizens (60 years age and above) for the term deposits of 91 days and above.




But, some cooperative banks are offering better rates of interest on deposits? How?


There is a difference in overall functioning of the Cooperative Banks and Commercial Banks.  The commercial banks are under the total control and regulation of RBI and there are restrictions on lending rates of certain segments like priority sector advances.  Keeping in view all the parameters, including statutory reserves (CRR & SLR), the deposit interest rates are fixed, however in tune with the market trend.




The interest rates on your advances are high? Why?


The interest rates on advances are related to interest paid on deposits, operating cost for the bank, risk perception, overheads and profit.  Further, there is no level field for the public sector banks (PSBs) and private sector banks.  The PSBs are benefited with major part of low cost deposits and interest sub-vention from GOI. Hence their lending rates are low.

Each bank fixes its PLR (Primary lending rate). Our bank’s PLR is 14.75% now.  The PLR of some private sector banks functioning in our area is around 15% and in one large sized bank it is 17.50%. PLR is the rate of interest at which the bank lends to its important and the best customers. In that way, the rate of interest at which the Bank lends is highly reasonable.




What are your important products?


 A. Deposits :

 1. Savings Account

    (insurance linked)

 2. Current Account  3. Recurring Deposit
 4. Fixed Deposits

 5. Kanakavarsha Deposits

    (Interest Re-investment Plan)

 6. Coastal Samvrudhi Deposit (insurance linked)
 7. Variable Recurring Deposit

 B.  Advances:

 1. Gold loan/ Jewel loan

 2. Agriculture Crop Loans

 3. Agricultural Term loans

 4. SME loans

 5. Retail loans

 6. Personal loans

 7. Loans against consumer goods

 8. Loans against deposits

 9. Loans against LIC/KVP/NSC bonds

 10.Warehouse receipt loans

 11.Coastal Pragathi Loans

     (Self Help Groups/Micro finance)

 12.Coastal Small Credit

 13.Housing loans

 14.Education loans

 15.Coastal Easy Tax

 16.Loans for agriculture & allied activities like poultry, dairy, pisciculture, sheep rearing, apiculture etc.,

 17.Mortgage loans

 18.Vehicle loans




The service charges of your bank are on high side, why?


The cost of operations of the bank is continuously going up.  The salaries, telephone charges, conveyance, printing and stationery, premises rent etc., are going up year after year.  The service charges of our bank are not revised for the last about 10 years.

The Bank had made an attempt to cost the operations of various products and services.  Further, the Bank compared the service charges being levied by other banks.  We finalized the service charges in such a way that the levy is comparatively lesser than other banks.

The so called less rates offered by some banks if any , have a tag attached to the minimum level balances  to be maintained by the customers in their Current /SB a/cs. Such a provision is available with our bank also.




How you are complying with the corporate social responsibilities.


During 2016-17, Bank has contributed Rs.15.00 lakhs, for


   • Constructing Water Harvesting Pits in dry land villages of of Nuzividu Mandal,

   • Conducting Financial Literacy programs, and

   • Making donations for other rural development programs.


Similarly in previous years, Bank has extended services to about 2000 families affected by HUD HUD Cyclone in the villages of Araku, Chodawaram, Bhimili and Anakapalle villages of Visakhapatnam Mandals, spending Rs. 5.00 lakhs.





Do you have on line funds transfer facility?


The Bank is supported by “Core Banking Solutions” (CBS).  All the branches are networked and we are able to provide on-line banking facility.  We are having arrangements with Bank of Maharashtra and online transfer is possible to anywhere in India and abroad under various funds transfer methods like RTGS, NEFT etc.,




Do you have any ATMs? Are you issuing Debit / Credit Cards?



The Bank has installed 11 ATMs and planned for 9 more ATM's during current financial year. Customers may make use of split business hours for convenience banking. Our ATM / Debit Cards can be used at POS / E-COM / Merchant Sites. We are planning for introducing Credit Cards during current financial year.




What is grievance redressed mechanism in your bank?


The Bank is totally manned by officers only.  The staff is empowered with adequate knowledge and there may not be any situation for a grievance. However, each branch is headed by a Manager, who is an experienced officer.  He is available at the branch throughout the business hours for sorting out any grievance of customers.  If the customer is not satisfied with the support or a reply from the branch manager, he/she can approach the appellate authority i.e. General Manager, whose address and contact numbers are displayed in each branch.




How many employees are working for your bank?


As on 31st March 2017, the bank has 228 employees. Also we have outsourced BC's & CSD's. The Bank has plans to increase the capable manpower with further increase in business and network.




Are you a profit making organization?


Yes. The Bank is earning profit every year, since inception.  The profit for the year ending 2013-14 was Rs.876.53 Lakhs.  It is sure to earn more profit during the current year.




Can you extend loans to all sectors, including real estate?


Yes. The Bank extends loans to all sectors, subject to viability and compliance to standards fixed by the Bank.  Credit policy is in place and all the proposals complying with the standards are considered for sanction.




For what you stand separately, compared to other banks?


The Bank earned a good name for personalized services to its customers. The important aspect is that the Bank is investing (lending) all its resources (deposits + other available funds) in the 5 districts where it is operating. The Bank stands for “OUR AREA” , “OUR CLIENTELE”, “OUR BANK”.

FIRST IN SERVICE                   &                  BEST IN TRUST

Registered Office: D.No. 59-14-2A, 3rd Floor, Santhi Plaza, Ring Road, Gayatrinagar, Near Benz Circle, Vijayawada - 520 008.
© 2007 Coastal Local Area Bank Limited. All rights reserved