Malabar Nirmana Thozhilali Co-Operative Society Ltd.

The mntcs was formed to serve the members to meet their financial needs and has been always trying to introduce innovative policies, schemes and loan plans to meet various requirements of the members.


Fixed Deposits

Fixed Deposit is an amount deposited in the society for a fixed period and the society offers appropriate rate of interest for that period and provides a wide range of period from 15 days to 5 years. The interest rate varies according to the duration. When the deposit reaches the maturity period, the deposit amount can be renewed for a new period according to the customer's requirement. A customer can close their deposits at any time by following certain rules and regulations of the society. The monthly interest will be given to the depositor or deposited in an account instructed by the depositor.

Savings Bank Account

Savings Bank Account has been introduced with a primary intention of developing the saving habits of our members. It allows the members to deposit their money in the society even in small amounts and withdraw their money whenever they wants. Safety is one of the attractive benefit and an SB Account offers a moderate interest rate also. The rate of interest is decided by Reserve Bank of India and it is periodically reviewed.

Current Account

Current Account is mainly for businessmen, firms, companies etc. which do numerous daily banking transactions. In a Current Account, the account holder can deposit or withdraw money as many times, limiting to the availability of amount in their account and is mainly meant for the convenience of money transactions.

Loans: Loans are available as short term loan and medium term Loans in following categories

Deposit linked Loan

Depositor can avail up to 90% of the deposit amount on an interest-2% more than the deposit interest rate, by submitting the Deposit Certificate.

Gold Loan

Members are eligible for availing Gold loan and the loan will be issued on the security of gold articles. The maximum amount of a loan is fixed as Rs.500000/- and 50% of the market value of gold articles be disbursed as loan amount.

Cash Credit Loan

This loan scheme provides transactions almost like in a Savings Account. Interest to be paid only for the pending amounts daily wise.

Industrial/ Business Loan

A Class members of the society are eligible for Industrial/ Business Loan. Our business loans are very attractive and are provided at special interest rates. Loan will be available for various industrial/ business purposes subject to meeting with required security requirement as per the society rules. Loan shall be repaid in equated monthly installments spread over a maximum period of 10 years. Borrowers are free to remit more than one installment or lumpsum at any time.

Educational Loan:

Loan for pursuing the courses in institutions approved by Union or State Governments and All India Council for Technical Education (AICTE) are available. Students can take a loan jointly with their guardians/ parent, if the student is over 18 years of age and otherwise the loan will have to be taken by the guardian/ parent. Post graduates courses and professional courses in Engineering, Medicine, Nursing, law, Management, Agricultural Science, Computer Science, fashion technology, Hotel Management and similar other courses are considered for Loan. courses in Chartered Accountancy, (Institute of Chartered Accountants of India), Cost Accountancy (Institute of cost and works Accountants of India), CFA (Institute of Chartered Financial Analysts of India) and similar courses are considered for Loan. Students those who are studying in recognized institutions and universities abroad are also eligible to apply.

Marriage Loan

Loans are available for meeting the expenses in connection with marriage of girls with attractive interest and repayment terms.

Medical and Allied loan

Loans are available for meeting the medical expenses for the treatment for prolonged illness and to meet the expenses related to funeral and other functions after death.

Vehicle Loan

Vehicle loans are available for the purchase of Two wheeler or four wheelers and the maximum amount of loan will Rs.3 lakhs or 80% of the value of the vehicle whichever is less. Maximum repayment period will be 60 months.

Home Appliances Loan

The members can avail loans for the purchase of home appliances on monthly installment basis.

Housing Loan

Housing loans are available for Society employees and Nirmana Thozhilali memebrs and the applicant should own the land or plot on which the construction is proposed. Loan will be available for Construction of new house, outright purchase of a house, extension or renovation of existing house etc.. They can repay the loan with interest in monthly installments or half yearly installments. Customers can close the account at any time according to their need. The interest will be calculated daily wise for the pending amounts only.

Overdraft (OD)

A class members of the society who are engaged in profitable business and Society employees are eligible for availing overdraft. OD facilitates transactions through cheque and interest charged for the daily wise pending amounts only. Any time closing of the loan account is permitted.

Terms and Conditions:

1. loans such as Plot purchase Loan for construction of a house for Nirmana Thozhilali, deposit linked loan and gold loan shall be sanctioned based on secretary's recommendation sbject to regularisation by director board afterwards.
2. All loan approval will be subject to meeting conditions stipulated in the register with regard to loan limit, interest rate, refund, period, share ratio and surety norms.
3. Maximum liability allowed for a member will be limited to Rs.7,00,000 only. How ever this condition will not be applicable for gold loan and deposit linked loan.
4. Special loans recommended by district co operative bank and co operative registrar will be governed by the guide lines stipulated by them.