The Kangra Cooperative Bank Limited was started in a very humble way as a small Thrift/Credit Society in March, 1960 by a few friends of the District. Kangra of Himachal to help out the people of Himachal residing in Delhi to uplift their economic conditions and tide over the financial hardships. The bank was converted into a primary urban Cooperative Bank in 1972 by RBI and was permitted to carry out banking activities including acceptance of deposits from public (non-members) by opening their Saving, Current and RD A/c’s. Twenty three years there from in June 1995 it was granted a license to carry out the banking business by the Reserve Bank of India.
The bank offers home loan, educational loan, persona loan etc.
Purpose – The loan is offered for the purchase of consumer durables such as Computers, TV, VCR, AC etc
Quantum of Loan – up to 80% of the cost or Rs. 1, 00,000/- whichever is less. Loan amount to be disbursed direct to the vendor/supplier after taking the margin money; advance payment will not be allowed
Security – At least one surety from a regular paymaster member of the Bank is required, Item to be purchased will remain hypothecated to the Bank. 5% of the loan is taken as security for giving post loan disbursement papers. This amount will be returned immediately on receipt of papers.
Repayment – Loan will be recovered in 48 equal monthly installments