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. 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 a variety of loans including home loan, personal loan, vehicle loan, education loans etc.
Purpose – For the purchase of machinery
Quantum of Loan – loan limit will be 70% of the cost or Rs. 1.5 lakhs whichever less without collateral security; loan limit will be 70% of the cost or Rs. 1.5 lakhs whichever is less without collateral security; The loan limit for old machinery shall be 50% of the value
Security – For loans up to Rs. 1.5 lakhs security will be hypothecation of machinery. For old plant and machinery security will be hypothecation of machinery and mortgage of property
Documents Required – For old plant and machinery security will be hypothecation of machinery and mortgage of property. Joint insurance of machinery and property required separately. In case of old machinery the valuation of machinery from the approved valuer required.