On its 106th foundation day, Kangra Central Cooperative Bank Ltd. launched a new “E-Vehicle Loan Scheme,” offering one of the most competitive interest rates in the market. The scheme, unveiled at the bank’s Dharamshala head office, aims to support the purchase of electric four-wheelers for personal use, with an attractive interest rate of around 7.5 per cent.
Managing Director Zafar Iqbal stated that the loan is open to government employees, private individuals, professionals, traders, and farmers. Government employees can avail loans up to 40 times their salary, while non-salaried individuals can borrow up to twice their annual income, with repayment periods extending up to seven years and minimal margin requirements.
To encourage vehicle loans during the festive Navratri season, the bank has also reduced interest rates on existing vehicle loans from 8 per cent to 7.6 per cent. Highlighting the bank’s financial performance, Iqbal noted that total deposits rose from ₹14,888.67 crore on March 31, 2025, to ₹15,663.31 crore on March 15, 2026, while the loan portfolio reached ₹4,299.70 crore.
The bank has also improved asset quality, reducing net NPAs from ₹212.13 crore (5.62%) in March 2025 to ₹112.09 crore (3.10%) by February 2026, thanks to effective recovery measures and prudent credit management.
Nurturing Creativity – Keekli Charitable Trust, Shimla
