💰
Savings Account
Everyday account with attractive interest and easy withdrawals at the counter.
Member-owned · Founded by Mahavitran staff
Powering the savings of the people who power Maharashtra.
Simple deposits, fair-rate loans and personal service for MSEDCL employees and their families — right inside the Satara office campus.
- 0Members
- ₹0Crore in deposits
- 0Years of trust
Fixed Deposit
Featured
8.25% p.a.
for 1–3 years · extra 0.50% for senior citizens
Personal Loanfrom 10.5%
Gold Loanfrom 9.0%
Housing Loanfrom 8.75%
See all rates →
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Registered Co-operativeUnder MCS Act, 1960
100%member
owned
owned
About us
A credit society built by colleagues, for colleagues.
We are a co-operative credit society formed by the employees of Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL / Mahavitran) in Satara. Every member is an owner — profits come back to you as dividends, and decisions are made by an elected board of your fellow employees.
- Salary-linked recovery — no running to the branch for EMIs
- Loans sanctioned in days, not weeks
- Annual dividend to members on share capital
- Located at the MSEDCL office, Satara — walk in during lunch
Our roots
Rooted in Satara's power story.
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Every day our members keep power flowing to homes, farms and industries across the district. We keep their savings growing.
Deposit schemes
Grow your money with schemes that fit your pay cycle.
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Fixed Deposit
Lock in high returns for 6 months to 5 years. Monthly or quarterly interest payout available.
🗓️
Recurring Deposit
Save a fixed amount every month directly from your salary and build a corpus effortlessly.
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Retirement Deposit
Special scheme for retiring employees to park gratuity & PF with extra benefit.
Loan products
Loans for life's big and small moments.
Documents needed
EMI calculator
Know your EMI before you apply.
Move the sliders to see your monthly instalment. Since EMIs are deducted from salary, plan comfortably within your take-home pay.
- Principal
- ₹0
- Total interest
- ₹0
- Total payable
- ₹0
Interest rates
Transparent rates, set by the board.
| Tenure | General | Senior citizen |
|---|---|---|
| 46 days – 6 months | 6.00% | 6.50% |
| 6 months – 1 year | 7.25% | 7.75% |
| 1 – 3 years | 8.25% | 8.75% |
| 3 – 5 years | 8.00% | 8.50% |
| Loan | Rate from | Max tenure |
|---|---|---|
| Personal | 10.50% | 7 yrs |
| Housing | 8.75% | 20 yrs |
| Vehicle | 9.50% | 7 yrs |
| Gold | 9.00% | 1 yr |
| Education | 9.25% | 10 yrs |
Rates shown are indicative and subject to change as per board resolution. Please confirm at the office.
Member voices
Why colleagues choose us.
“Got my housing loan sanctioned within a week. The EMI is cut from salary, so I never worry about due dates.”
“I put my retirement amount in an FD here. Better rate than most banks and the staff know me by name.”
“The education loan helped my daughter join engineering college. Paperwork was simple.”
Notices
Latest updates
- Annual General Meeting — date to be announced. All members are requested to attend.
- Dividend for FY 2025–26 declared. Credited to member savings accounts.
- Revised FD rates effective from 1st August.
FAQ
Common questions
Who can become a member?
Permanent employees of MSEDCL (Mahavitran) working in the Satara area can apply for membership by purchasing share capital and submitting the membership form.
How are loan EMIs repaid?
EMIs are recovered directly from your monthly salary through the payroll department, so there is no need to visit the office every month.
Can family members open deposits?
Yes, nominal members such as spouses and family members can open deposit accounts as per the society's bye-laws.
Are deposits safe?
The society is registered under the Maharashtra Co-operative Societies Act, 1960, and accounts are audited every year by a certified auditor.
Visit us
We're at the MSEDCL Office, Satara.
- 📍Address
M.S.E.D.C.L. Office Campus,
Satara, Maharashtra 415001 - 📞Phone
- ✉️Email
- 🕙Hours
Mon–Sat: 10:00 AM – 5:30 PM
2nd & 4th Saturday closed