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. 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, vehicle loan etc.
Purpose – For the purchase of second hand HMVs and LMVs up to three years old model
Quantum of Loan – loan up to 70% of the value for three years old model and up to 75% of the value for 2 years old model and up to 80% of the value for one year old model
Rate of Interest – 13% per annum
Security – For total transport loans above Rs. 20/- lakhs, collateral security may be required. In case of mortgage of property as security, coverage can be taken up to 100% of the valuation
Repayment – For private vehicles maximum loan repayment period will be 60 months, Repayment period for second hand LMVs will be 60 – age of the vehicle and for HMVs 80 – age of the vehicle
Others – Advance payment up to 25% of the cost is allowed subject to providing satisfactory proof