A loan specially designed to aid cooperatives / societies in property acquisition in terms of real estate, land / office premises and condominiums or to establish and open up a new business venture.

FEATURES AND BENEFITS
  • A maximum loan amount of up to 75% of the Forced Sales Value of the property, at prevailing interest rates
  • 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
  • The property being acquired must be mortgaged to the bank
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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