All SANASA Societies, Multi-Purpose Cooperative Societies, other cooperatives and registered societies are eligible to receive this cooperative / society loan for special projects with legal clearance. The project should then be accepted by the bank for cooperative / society usage.

FEATURES AND BENEFITS
  • Loan amount will be based on the capacity of the society as well as the project, at prevailing interest rates
    • Up to Rs. 20 million with no collateral
    • Up to Rs. 30 million with no collateral for cooperatives that have repaid previous loans in a satisfactory manner, subject to the Board Credit Committee and Board of Directors’ approval
  • Repayment period up to 10 years with a maximum 2-year grace period
Eligibility
  • SANASA Societies, Multi-Purpose Cooperative Societies, other cooperatives and registered societies may apply for this loan
  • Suitable collateral will be required to mitigate risk on a case by case basis
Required Documentation
  • A duly filled loan application
  • Society Mandate
  • Society Registration Certificate
  • Copy of the Memorandum and Articles of the Society
  • Certified copy of the resolution of the Board of Directors
  • Society Declaration Form
  • Signature Card
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