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 Bank has diversified its loan portfolios and it has been catering to the credit needs of agriculture and allied agriculture, procurement and marketing, consumer goods dealing, handloom and weaving, housing, transport, consumer durables, home loan etc
Purpose – For encouraging young & enterprising entrepreneurs and unemployed persons for creating self-employment opportunities through Tourism Development
Eligibility – young & enterprising entrepreneurs and unemployed persons willing to become self employed and with repaying capacity are eligible for the loan
Rate of Interest – As per the terms and conditions of the bank during the loan approval
| S.no | Details | Interest Rates |
| 1 | For loans upto & inclusive of Rs. 50,000/ | 11.00 % |
| 2 | For loans over Rs.50,000/- to Rs. 1.00 lakh | 11.50 % |
| 3 | For loans over Rs. 1.00 lakh to Rs. 2.00 lakh | 12.50 % |
| 4 | For loans over Rs. 2.00 lakh | 13.50 % |