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. The bank offers home loan, agricultural loans, vehicle loans etc
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.
Purpose – For famers to carry out agricultural activities
Eligibility – Famers who have the capacity to repay the loan
Quantum of loan – Agricultural Loan up to Rs. 40 Lakhs are allowed for farmers.
Interest Rates – The interest rate varies according to the loan amount, as follows
Up to and inclusive of Rs. 50,000/- the interest rate is 13.5 %
Rs. 50,001/- to Rs.2, 00,000/- inclusive the interest rate is 14 %
Rs. 2, 00,001/- to Rs.5, 00,000/- inclusive the interest rate is 14.5 %
Rs. 5, 00,001/- to Rs.10, 00,000/- inclusive the interest rate is 15.5 %
Rs.10, 00,001/ and above the interest rate is 16 %
Penal Interest – The penal interest is 2 %
Others – For prompt repayment 1% rebate is given.