The Almora Urban Co-operative Bank is a fast Growing Bank. The Minimum standards decided by the Reserve Bank of India for Urban Co-operative Banks to become viable were fulfilled in just Six months after establishment of the Bank.
Number of Members, Share Capital, Deposit and working capital are increasing day By day. Bank does not borrow any type of loan from any government or financial institution. The audit of the Bank is done by the financial department of Uttaranchal government. Audit Department has granted Reserve Bank of India to the bank which reflects the excellent work of the bank.
The Bank was established on 14 August 1991 with an initial working capital of 2.56 lakhs and only one branch at Almora. The loan portfolio of the bank includes home loan, personal loan, business loan, vehicle loan, gold loan etc.
Purpose – To offer loan for the purchase of old and new
Eligibility – Salaried, self employed or professional having sufficient repaying capacity
Primary Security – Vehicle
Rate of Interest –
| Loan | Interest Rates |
| Up to 2 lakh | 12% |
| More then 2 lakh | 12.75% |
| Old vehicle | 14.75% |
Processing Charges – No processing charges
Others – Two wheeler loans does not comes under transport loan. it will be under Consumer Loan