When life presents new opportunities or unexpected expenses, our Personal Loan is here to help you meet your financial needs — with ease, flexibility, and trust.
Eligibility Criteria (Others):
- Permanent salaried persons working under government/Government Undertaking/Semi-Government Institutions/ State Level Cooperative Institutions/ Banks/Education Institutions with a minimum services of 1(one) year.
- Teachers working in private schools receiving grant-in-aid from government of Meghalaya and teachers in “Adhoc” schools with a minimum services of 5(five) years in such schools.
- Probationary/Training period may also be considered for the purpose of counting service.
- The applicant should preferably be an account holder drawing salary through the Bank and satisfactory maintaining an account with the Bank.
- For applicants not drawing their salary from the Bank, the application should be supported by the account statement for at least the last six months maintained with other Bank from where salary is drawn.
- Age eligibility: minimum 21 years at time of application.
- On exceptional basis, other salaried persons at the discretion of the Bank.
Documents Required:
- Duly filled loan application form
- Recent passport-sized photographs
- Proof of identity (Aadhaar, Voter ID, PAN Card, etc.)
- Proof of address (utility bill, Aadhaar, etc.)
- Income proof (salary slips, ITR, bank statements)
- Employment certificate (for salaried individuals)
- Any other documents as required by the bank
Eligibility Criteria (Pension):
Central/State government Pensioners and family Pensioners including ex-employees/ex-staff of the Bank who are drawing their pension through the Bank and are not over the age of seventy two(72) years as on the date of receipt of application are eligible for pension loan.
Documents Required (Pension):
- Copy of Pension Payment Order
- The pension Payment Order or PPO remains with the Government treasury and the pensioner needs to give his/her mandate to the treasury for paying his/her pension through the Bank’s branch. He/She also needs to furnish an irrevocable undertaking that his mandate will not be change during the tenure of the pension loan availed by him/her.
- Personal guarantee (to be signed in Non-Judicial Stamp) of the spouse/son/daughter/legal heir (who will remain eligible for the family pension) for repayment in case of premature death of the applicant.
- Letter of guarantee (to be signed in Non-Judicial Stamp) from the surety for timely repayment of the loan in case the borrower default in repayment of the loan
Visit your nearest Meghalaya Co-Operative Apex Bank branch today or contact us to know more.
