The Kozhikode District Co-operative Bank Limited, (erstwhile Malabar Co-op Central Bank Limited known as MCC Bank) was registered and started functioning on 03.12.1917.
In the beginning, the name of the Bank was Malabar District Co-operative Bank Ltd., registered under Section 9 of Act II of 1912(India). Initially, the area of operation of the Bank was extended to the whole of the former Malabar District of the Madras State. The bank involved in offering home loan, personal loan, education loan, gold loan, business loan etc to its customers.
Purpose – A unique loan scheme of the Kozhikode District Co-op Bank to Individuals for meeting expenses in connection with any domestic purposes (Marriage of self or of Dependants, Medical Treatments etc., Other Consumption purposes)
Eligibility – Salaried, professional or self employed capable of repaying the loan
Quantum of Loan – Maximum of Rs. 10 lakhs
Security – Salary Certificate and Recovery Agreement Landed Property etc.)
Repayment Period – maximum 100 months from the date of disbursement of loan
Others – No hidden charges and Processing Fees; Very low Service Charges; Limit of the Loan will be in accordance with the monthly income of the Applicant and in consideration of the repayment capacity of the applicant. Adequate Security should be furnished as per Rule.
Loans up to Rs. 3 lakhs will be sanctioned by Concerned Branch Managers and Above Rs. 3 lakhs from the Head Office. The Prospective borrower should maintain a Savings/ Current Deposit A/c with the Bank.