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. It offers home loan, personal loan, vehicle loan, business loan etc.
Purpose – Term loans for the purchase of plant & machinery up to 1 Crore; for improvement of existing business, up to 1 Crore as working capital loan.
Eligibility – For small entrepreneurs, block capital, working capital loans up to 5, 00,000 as composite loans.
Penal Interest – The penal interest is 2 %
Others – For prompt repayment 1% rebate is given.
Documents Required – Proof of address, identity, Bank account statement etc
Security & Guarantee: Two guarantors acceptable to the bank are required for this loan just as in the case of home loan.