The Zoroastrian Co-operative Bank Ltd. was registered on 17th June, 1927 as a Co-operative Credit Bank governed under the then Bombay Act VII of 1925. The Deputy Registrar thereafter granted permission on 1st July, 1987 to change the name of the Bank to The Zoroastrian Co-operative Bank Ltd. The Bank thereafter obtained license to carry on banking business under Section 56 of the Banking Regulation Act on 16thFebruary, 1994.
The Bank has thereafter made considerable progress under all parameters of banking business and has effectively rendered banking facilities to its Shareholders and Clients of all communities within the framework of Banking Regulations. What identifies the Bank as distinct from its competitors is a high level of personalised services and effective catering to the need-based requirement of its constituents hailing from all the strata of society.
The bank offers vehicle loans at special rates for Professional and Transport Operators at very low margins. There are minimum formalities and speedy sanction of loan similar to other car loan offered by any other bank. The borrower can choose his own vehicle. There are no penalties charged for early repayment allowed without any penalty. The bank offers loan for new vehicles as well as used vehicles.