The Meghalaya Cooperative Apex Bank Ltd. was incorporated on 16th February, 1971 under the provisions of Meghalaya Cooperative Societies Act and on obtaining the required license from the Reserve Bank of India under the Banking Regulation Act, 1949 (as applicable to Cooperative Societies) it commenced banking business on and from 1st July, 1971.
Purpose – Cash Credit accommodation are provided to Co-operative Societies for procurement, marketing of agriculture and minor produces and also for dealing in consumer goods, etc.
Eligibility – Famers involved in agricultural operations with repaying capacity
Rate of Interest – The rate of interest at which the loan is offered is as follows
| S.no | Bank to Societies | Societies to ultimate borrower | |
| 1 | Loans up to & inclusive of Rs.50,000/- | 7.00 % | 9.00 % |
| 2 | Loans exceeding Rs.50,000/- | 8.00 % | 10.00 % |
The Bank has diversified its loan portfolios and it has been helping to the credit needs of agriculture and allied agriculture, procurement and marketing, consumer goods dealing, handloom and weaving, transport, consumer durables, tourism development and various other viable economic activities under farm & non-farm sectors for improving the economic condition of the people. The bank has offers attractive home loan.