Kozhikode District Co-op Bank- Housing Loan

By | June 15, 2011

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 membership of the Bank transferred from Madras State Co-op Bank to Kerala State Co-op Bank. In the year 1958 name of the Bank changed as Malabar Co-operative Central Bank Limited, The bank involved in offering home loan, personal loan, education loan, gold loan, business loan etc to its customers.

Purpose                         – The home loan is offered for construction of New House; Repair of Existing House; Outright Purchase of House

Eligibility                    – Salaried, professional or self employed capable of repaying the loan

Quantum of Loan       – Maximum of Rs. 10 lakhs for construction/outright purchase of New House and Rs. 3 lakhs for Repair

Repayment Period     – 15 years

Others                             – No hidden charges and Processing Fees; Applicant should be a permanent resident of Kozhikode District and the proposed construction plot should be in Kozhikode District.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Articles Glossary Tags: , ,

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

Leave a Reply

Your email address will not be published. Required fields are marked *