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Other Loans

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National Savings Certificate

Leverage your long-term post office savings for immediate liquidity without closing your certificates prematurely.

  • Charge is noted on the NSC by the issuing post office.
  • Post Offices include Mumbai or upto Kalyan, Virar, and Panvel regions.
  • National Savings Certificate should be in name of the bank member.
  • Official NSC status report needed for processing.

Financial Overview

Interest Rate (ROI) 10.00% P.A.
Max. Financing Based on NSC Face Value & Interest Accrued.
Repayment Term Max. 60 Months (or till maturity).

Life Insurance Policy

Unlock the value in your LIC policies while maintaining the insurance coverage for your family's future.

  • Loan released after assigning the policy in favor of the Bank.
  • Minimum loan amount for LIC policy is ₹ 5,000/-.
  • Standing Instructions (SI) available if premium isn't salary-deducted.
  • Policy must be in the name of the bank member.

Financial Overview

Interest Rate (ROI) 10.00% P.A.
Max. Financing 90% of Surrender Value as per status report.
Repayment Term Max. 60 Months (Till maturity).

Out of Course (Against CD)

A high-quantum emergency loan secured against your Compulsory Deposit balance.

  • Avail loan upto 85% of your Compulsory Deposit (CD) amount.
  • Renewal possible after 6 months from diskbursement.
  • Branch Manager carries authorization for on-the-spot sanctioning.
  • Service required: Within working hours (11.00 a.m. to 4.30 p.m.)
Member can avail either O.O.C. loan or Emergency loan at one time.

Dynamic ROI Calculation

Current ROI Formula

CD Interest Rate + 2.0%

Additional 2% interest over the current CD payout rate.

Repayment Term Treated as Medium Term Loan.
New Loan Availment One day after closing existing O.O.C balance.

Ready to Unlock Your Capital?

Our streamlined application process ensures minimal documentation and instant approval for loans against your security savings.

Apply Online Download Form

The terms and condition and charges may vary subject to modifications in Loan Policy as approved by Board of Directors.

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The Municipal Co-operative Bank Ltd., Mumbai is registered with DICGC. Your deposits are safe with us.

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