The Mysore Merchants Co-Operative Bank Limited is a trendsetter Bank in Karnataka which serves its customers all the 365 days of the year. The Mysore Merchants Co-operative Bank Limited was converted to a bank on 29-06-1962. The main object of the Bank at that time was to protect the businessman from the exploitation of the private bankers.
The Mysore Merchants Co-Operative Bank offers wide variety of Loans Products to suit the requirements of its customers. Coupled with convenience of networked branches and wide facility in Banking, it offers loans such as home loan, vehicle loan, education loan, personal loan, joint loan, gold loan etc.
Purpose – The loan is offered to the borrowers for Personal needs, education, House Repairs (Subject to change & as per rate fixed by the consultant)
Eligibility – Should be a member of the Bank (Salaried/ Professional/ self employed); the borrower must have the capacity to repay the loan amount
Quantum of Loan – The maximum amount of loan that will be offered is Rs.30 Lakhs
Rate of Interest – 13% per annum; Simple Reducing
Processing Fees – Nil