Especially designed short-term loans for liquidity and working capital needs, these loans are reviewed annually, so that cooperatives and societies could be granted a quantum of disbursement under the approved revolving amount.

FEATURES AND BENEFITS
  • A maximum loan amount based on the capacity of the society and the requirement
  • Repayment in monthly installments at prevailing interest rates
  • Loan amount of up to Rs. 30 million with no collateral, subject to the Board Credit Committee and Board of Directors’ approval
  • Reviewed annually
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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