The Cosmos Co-operative bank was established in the year 1906, it is the second the oldest bank in the country. The Bank has recently completed glorious 106 years of service successfully. It has attained multi state scheduled status in 1997. The Bank is a professionally managed ‘Financial Institution’, a benchmark of credibility and innovation.
Cosmos Bank has carved a niche in the banking sector due to its rich heritage, integrity, adherence to prudent banking practices, technology advancement, customized products and services and most of all due to its experienced, qualified and professional Board of Directors.
Purpose – It is a handy credit line to meet the needs of a Modern Lifestyle, such as Pleasure Trips, Wedding Expenses, Jewelry Shopping, Credit-Card Payments, Education, Medical Treatment, Transfer of High Cost Debt or any other purpose.
Eligibility – This is a personal loan scheme for salaried persons as well as self employed professionals / entrepreneurs.
Interest – Interest rate of 12.00% on daily reducing balance
Quantum of Loan – Maximum loan up to Rs. 2.00 lakhs
Others – ATM card facility available; The bank offers two flexible options namely term loan, Overdraft
Repayment – Term Loan: Maximum repayment period is 60 months with Equated Monthly Installment for a loan of Rs. 1,00,000/-
EMI – EMI would be Rs. 2224/-.