Mehsana Urban Co-Op Bank Limited was established on 23rd October, 1983, registered under Co Operative Society Act 1961 Registration No. 20052 the RBI License No. DB/UBD GJ 357 P dt. 28/09/1983. The Bank started with one branch at Mehsana with Share Capital of Rs. 15.00 lakhs, made continuous Progress as on 31/03/2010 paid up share capital is Rs. 33.19 crore.
Purpose – to provide financial support to deserving students for pursuing higher professional or technical education in India and abroad
Eligibility – students who have obtained admission to career-oriented courses eg, medicine, engineering, management etc., either at the graduate or post-graduate level
Quantum of loan – Rs 10.00 lakhs for studies in India and abroad, which would cover tuition fees, hostel charges (if any), cost of books, etc.
Margin – 20% for studies within India and higher studies overseas
Security – Third party guarantee and/or collateral security may be asked for in appropriate cases unlike any other personal loan.
Disbursement – The loan will be disbursed in full or in suitable installments taking into account the requirement of funds and/or fee schedule as assessed by the Bank directly to the educational institution or vendor of books or equipment or instruments.