Services
The Mangalore Co-operative Town Bank Limited is a co-operative bank of Mangalore, started with the objective of enabling small investors gain maximum leverage with their deposits. The bank enables customers to do all banking transactions without the burden of service charges levied by commercial banks. In addition to regular banking services our banking facilities include overdrafts, pay orders and loans of various categories for your convenience.
FAST Tag is available in all our branches.
Rate of Interest on Term Loan W.E.F 18.01.2024
| Type of Loan | Maximum Amount Limit | Period | Rate of Interest |
|---|---|---|---|
| Surety Loan | 25,000 | 36 months | 15.00 % |
| Surety Loan | 50,000 upto One Lakh | 48 months | 15.00 % |
| Jewel Loan | Thirty Lakh | 12 months | 11.50 % |
| Housing Loan | 1.30 Crore | 240 months | 10.25 % |
| House repair Loan | Five Lakh | 120 months | 14.00 % |
| Vehicle Loan – Two Wheeler | ----- | 36 months | 11.50 % |
| Vehicle Loan – Four Wheeler (Private use – New) | ----- | 84 months | 10.00 % |
| Vehicle Loan – Three Wheeler (Commercial Vehicle) | ----- | 48 months | 12.00 % |
| Vehicle Loan – Four Wheeler (Commercial Vehicle) | ----- | 60 months | 12.00 % |
| Electric Vehicle Loan – Two Wheeler | ----- | 36 months | 11.50 % |
| Electric Vehicle Loan – Three Wheeler | ----- | 48 months | 11.75 % |
| Electric Vehicle Loan – Four Wheeler | ----- | 60 months | 10.75 % |
| Vehicle Loan – Four Wheeler (Second Hand below 5 years) | ----- | 36 months | 14.00 % |
| Machinery Purchase | ----- | 48 months | 11.50 % |
| Hypothecation Loan | Five Lakh | 36 months | 14.50 % |
| Overdraft Facility | Upto Fifty Lakh | 12 months | 13.50 % |
| Overdraft Facility | One Crore | 12 months | 13.00 % |
| Mortgage Loan | Below 25 Lakh | 120 months | 12.50 % |
| Mortgage Loan | Above 25 Upto 50 Lakh | 120 months | 12.25 % |
| Mortgage Loan | Above 50 Lakh Upto 75 Lakh | 120 months | 11.25 % |
| Mortgage Loan | Above 75 Lakh Upto 1.30 Crore | 120 months | 10.50 % |
| Mortgage Loan | Above 75 Lakh Upto 1.30 Crore | 180 months | 11.00 % |
| Site Purchase (Commercial / Residential ) | ----- | 120 months | 13.50 % |
| Commercial Building (Construction / Purchase ) | ----- | 120 months | 12.00 % |
| Solar Panel (For Domestic Purpose) | Two Lakh | 36 months | 11.00 % |
| Loan to Professionals* – Office Purchase | Forty Lakh | 120 months | 10.75 % |
| Loan to Professionals* – Office Interiors & Furnishing | Ten Lakh | 120 months | 10.75 % |
*Professionals includes only Chartered Accountants, Advocates, Engineers & Doctors
*Loan for Solar Panel is only for existing housing loan customers
Banking with us will give you the benefit of making cash deposits in order to avail of the benefits of our various schemes. We offer:
Santhosh Cash Certificate with quarterly compounding of interest
Rate Of Interest on Term Deposit W.E.F 07-08-2023
| PERIOD OF DEPOSIT | RATE OF INTEREST | ||
|---|---|---|---|
| General Citizen | Senior Citizen | Society Accounts | |
| 30 days to 90 days | 4.00 % | 4.00 % | 4.00 % |
| 91 days to 180 days | 5.00 % | 5.00 % | 5.00 % |
| 181 days to below 1 year | 5.50 % | 5.50 % | 5.50 % |
| 1 year & above | 5.75 % | 6.25 % | 6.25 % |
| 365 Days | 7.25 % | 8.00 % | 8.00 % |
| 666 Days | 7.50 % | 8.25 % | 8.25 % |
| 999 Days | 8.50 % | 9.00 % | 9.00 % |
Rate of Interest on Term Deposit W.E.F 17.04.2024
| Period of Deposit | Rate of Interest | Customer Type |
|---|---|---|
| 365 Days | 9.25% | Registered Co-operative Societies |
Rate Of Interest on Other Deposits
| Type of Deposit & Period | RATE OF INTEREST | |
|---|---|---|
| General Citizen | Senior Citizen | |
| Recurring Deposit – 1 year | 5.75 % | 5.75 % |
| Recurring Deposit – 2-5 years | 7.50 % | 7.50 % |
| Savings Bank Account | 3.00 % | 3.00 % |
Recurring Deposit
Pigmy (Anand Nidhi Deposit)
Savings Bank Deposit w.e.f. 08-12-2016 (interest at 3.5% pa on daily basis)
Other services: Pan Card, RTGS, NEFT, Locker, E-Stamping facility available, SMS Alert Facility & NO Cash Counting Charges