||Educational Institutions viz., Universities , Colleges , Schools
- The institutions must have got necessary approval from Government / Government agencies for running the educational institution
- They should submit 3 years audited financial statements
- They should be profit making for continuous 2 years.
- New and upcoming educational institutions can also be considered in which projections, both financial and non-financial, must be reasonable and justifiable.
- Entry level credit rating is SBS 5. No deviation to be allowed.
- Construction/ Renovation / Repair of building. Approval for construction/addition/alteration from all the concerned authorities must be in place for considering the credit facility.
- Purchase of Computer, lab equipment, Furniture & Fixtures, books etc
|Nature of facility
|Quantum of Loan
||Minimum Rs.10 lacs and Maximum Rs.500 lacs
||Term Loan to be repaid in maximum 8 years inclusive of initial moratorium of 12 to 18 months. Periodicity of instalment to be determined on the basis of cash flow
|Appraisal of loan
||The proponent should have sufficient cash flow to service both instalment and interest.
DSCR should be minimum 1.25.
|Rate of Interest
||As per prevailing rate of interest structure in terms of HOBC:104/94 dt. 15-11-2010
|Processing Fee, Documentation charges etc
|For accounts falling within regulatory definition of MSME : In terms of HOBC : 102/218 dt. 20-03-2009.
||For accounts not falling within regulatory definition of MSME but within the new definition of SME : In terms of HOBC: 102/119 dt.19-09-2008.