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.
Bank has nurtured its traditional values in business practices and in serving the small customers. At the same time it has adopted new technologies and advanced banking tools to add value to its services. 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 – Home loans are available for purchasing new/resale flat/house or for construction of bungalow/house or for taking over home loan from other institutions.
Eligibility – Members of the bank
Rate of Interest –
| Slab (Rs. in Lakhs) | Rate of Interest |
| Rs.0.01 Lakhs to Rs.25.00 Lakhs | 9.50% |
| Rs. 25,00,001/- to Rs.50.00 Lakhs | 10.50% |
Processing fee – Processing fee is Rs. 1500/-
Prepayment Penalty – No prepayment penalty if the loan is foreclosed with own funds.
Others – Other Family members’ income can be considered for enhancing eligible loan amount, interest levied on daily reducing balance.