Stronger Societies Stronger Cooperatives Stronger and Prosperous Nation.

Purpose:
To provide financial assistance to develop primary agricultural cooperative societies as multi service centers.

Features:
• Sanctioned as term loan for 07 years
• Loan to develop primary agricultural cooperative societies as Multi Service Centre to enable them to provide services in financial and non-financial sectors.
• Loan to establish primary agricultural cooperative societies as sound and modern cooperative institution in rural areas to increase their profitability
• Maximum Loan up to Rupees 40.00 lakh
• Loan available up to 90% of cost of the project

Advantage:
• Minimal Interest Rate
• Minimal Documents
• Zero Processing Fee
• No hidden charges
• No Pre-payment penalty
• No guarantors required

Eligibility:
• Affiliated societies of the bank, having good and strong balance sheet as per the latest audit report.
• The amount of the applied limit should be within the maximum borrowing power of the society along with the other loans taken by it.
• The PACS should have a permanent secretary appointed in it.

Eligible Project for Loan:
• Storage Centre: For upgrading existing storage, establishing new sorting/ grading units or modern godowns
• Cold Storage: For establishing new cold chains, logistics for milk collection, chilling centers, pack house, assaying units
• Agro-Service Centre: For providing techno-agri equipment eg: Power Tiller, Land Leveler, Rotary Slicer, Movers, Seed Drillers, Multi-crop Planters, Paddy Trans-planter, Sprayer, Combine Harvester etc.
• Agro-Processing Centre:
Primary Processing: Sorting, Grading, Waxing/ Polishing unit, Pre-cooling Chamber, Drying Yard, Packaging, Poultry Dressing unit etc.
Secondary Processing: Value addition of products units eg: Mini rice mill, Grinder, Agro-processing services etc.
• Agri-Information Centre: Soil and Water testing laboratories, providing agriculture specialists services, skill centre and information centre
• Agri-Tansportation and Marketing Facility: Movement of farm produce, assembly and processing for direct market linkage, Grameen Haat, Way-bridge, Shopping Complex, E-marketing Platform including supply-chain, marketing facilities and purchasing of transport vehicles etc.
• Consumer Store and Other Facilities: Consumer Store, LPG Agency, Petrol Pump outlets etc.
• Post-Harvest Management Infrastructure

Rate of Interest:
• Rate 4.00% for regular account
• ROI is calculated on daily reducing balance

Charges:
• Zero Processing Fee
• Other Charges: Document stamp charges as prescribed by the Government
   
Documents Required:
• Application form duly filled and signed
• Proposal by the board of directors of the society
• Last 03 year audit reports
• Land documents of the land on which project is to be established
• Valuation and Search Report of the land
• Proposal of the constitution of the board members in the society
• List of board of directors and their KYC
• Estimation/ Quotation of the project and machinery
• Business Development Plan for next 07 years
• KYC of the society and the secretary

*Terms & Conditions apply. For further details, Please contact your Nearest Branch