The A.P. Mahesh Cooperative Urban Bank Personal Loan: Personal loans are a great way for anyone who falls short of money to meet their expenses. They are easily approved and require the bare minimum documentation.
Apart from that, interest rates for personal loans are quite affordable for every individual. If you are looking for a personal loan with great interest rates, AP Mahesh Cooperative Urban Bank has got you covered.
In this article ahead, you will find details on the Mahesh Bank Personal Loan, along with Mahesh Bank’s latest Interest Rates. This also includes any and every AP Mahesh Bank latest news.
Curious to check other banks’ offered Personal loan features, eligibility, interest rates, tax benefits, and a repayment plan. Go with our one-stop Personal Loan Page & swipe out your doubts within no time.
The A.P. Mahesh Cooperative Urban Bank
- The A.P. Mahesh Cooperative Urban Bank Personal Loan Overview
- The A.P. Mahesh Cooperative Urban Bank Personal Loan Features
- How to Apply for a Personal Loan in the AP Mahesh Cooperative Urban Bank?
- The A.P. Mahesh Cooperative Urban Bank Personal Loan Eligibility Criteria
- The A.P. Mahesh Cooperative Urban Bank Personal Loan Documents Required
- Types of Personal Loan offered by the AP Mahesh Cooperative Urban Bank
- Takeaways from the Article
The A.P. Mahesh Cooperative Urban Bank Personal Loan Overview
Andhra Pradesh Mahesh Co-operative Urban Bank Limited is India’s leading urban cooperative banking institution. On June 30, 1977, Andhra Pradesh Mahesh Co-operative Urban Bank Ltd. (popularly known as Mahesh Bank) was registered as a Primary Co-operative Society.
The bank first opened its doors on August 9, 1978. The Reserve Bank of India granted the bank Scheduled Status on October 26, 1996, making it the first Co-operative Bank in South India to receive this status.
With effect from 30.05.2001, the bank has been registered as a Multi-State Co-operative Bank under the Multi-State Co-operative Societies Act, 1984, making it the first Co-operative Bank in South India to achieve this coveted position.
The A.P. Mahesh Cooperative Urban Bank Personal Loan Features
- The applicant is allowed to borrow up to the maximum loan amount.
- Minimum documentation is required by the bank.
- There are several options for loan repayment.
- The loan application is processed quickly.
- The individual has a term of 5 years to repay the loan.
- The interest rates are comparatively competitive and appealing in terms of the current market scenario.
- The bank does not require any security; however, this is dependent on the loan amount and the applicant’s CIBIL score.
How to Apply for a Personal Loan in the AP Mahesh Cooperative Urban Bank?
Anyone can apply for a personal loan either through an online application or through an offline application. In terms of applying online, the individual can visit the website of AP Mahesh Cooperative Urban Bank and fill up their individual details along with their work details and upload all the necessary documents for the loan.
As far as applying offline goes, individuals can visit the nearest branch of the AP Mahesh Cooperative Urban bank with all the documents and information required, fill-up the form, and get their loan approval process to start. The applicant might be asked to submit more documents as well, if required by the bank.
The A.P. Mahesh Cooperative Urban Bank Personal Loan Eligibility Criteria
- The applicant must be between the age of 21 to 58 years.
- The applicant must be salaried or self-employed and have a consistent monthly income.
- For salaried applicants, the applicant must have completed at least a year of confirmed service in their current position.
- For self-employed individuals, the applicant must have made a profit in the previous 12 months.
- The applicant must have at least three years of experience in their current business, profession, or job.
The A.P. Mahesh Cooperative Urban Bank Personal Loan Documents Required
The documents required by individuals to apply for a personal loan in AP Mahesh Cooperative Urban Bank are:
- Duly filled application with two self-attested photographs.
- A copy the following as proof of identity:
- Driving license
- Aadhar card
- Pan card
- Recent salary slips and certificate along with Form 16.
- Income tax returns receipts for the last two financial years.
- The passbook with the entries of the last six months.
Types of Personal Loan offered by the AP Mahesh Cooperative Urban Bank
- Gold Loan
- Vehicle Loans
- Educational Loans
- Industrial Finance Loan
- Housing Loan
- Mortgage Loans on Simplified Norms
- Loans to Farmers Traders against cold storage and warehouse receipts
- Advances Against Approved Shares
Takeaways from the Article
The AP Mahesh Cooperative Urban Bank Personal Loan is aimed at satisfying individuals to meet all their financial needs starting from meeting the expenses of their vacation plans to renovating their houses. The personal loan can also be used to meet the expenses of a marriage or during any medical emergency.
The primary goal of the Bank is to promote the interests of all of its members in order to achieve social and economic betterment through self-help and mutual aid in acc