Meenachil East Urban Co‐operative Bank Limited- Gold Loans

By Pradeep Yuvaraj | May 26, 2011

The bank was established in the year 1958, MEUCB was formed to provide a safe, efficient and service oriented repository of savings of the community and to provide need based credit at reasonable rates of interest. MEUCB is regarded as one of the well-run banks in the comity of Co-operative Sector Banks in the country.

It has been our constant endeavor to bring a sharper focus to the requirements of our customers. The Bank will continue its endeavors in providing high quality services to its customers. It offers home loan, personal loan, computer loan, vehicle loan etc.

The bank offers loan against gold to its customers in order to meet their personal needs. Gold Loans can be a quick way to get a loan against the security of one’s ornaments. This is particularly true if the borrower might not have any credit history.

Purpose                      – To offer loan against gold to meet the personal and other needs of the customers;

Eligibility                     – Salaried, Professional, self employed

Quantum of Loan       – Maximum Rs 10Lakh

Rate of Interest         – The interest rate is 9%

Documents Required – Proof of address, identity, Bank account statement etc

Security                      – Gold is used as a security

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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.

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