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.
The Meghalaya Cooperative Apex Bank has been a pioneer in banking in the State and rendering various public utility services since inception. The Bank has been playing pivotal role in the promotion and strengthening of cooperatives and serving the cause of rural development and target groups through the affiliated Cooperative Societies and its Branches spread all over the State. The bank offers home loan, agricultural loans, term loans etc to farmers.
Purpose – The loan is offered to extend financial support to the famers in the rural places
Eligibility – Famers involved in allied agricultural activities like land development, minor irrigation, purchase of farm machinery, poultry, goat rearing, pisciculture, dairy, horticulture, plantation and horticulture schemes
Interest rate – The bank offers term loans at reasonable interest rates
| 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 % |
Others – The loan is offered to farmers through the affiliated Service Co-operative Societies direct
.