SBI Bank Loan Scheme For Schools - School Plus





State Bank of India provides term loan scheme "School Plus" for existing schools in order to repair / renovate / add new buildings or purchase of electronics equipments, computers and laboratory equipments, books, manuals, furnitures and other utility fixtures. 

SBI Bank Loan Scheme For Schools - School Plus

Eligibility for SBI School Plus Bank Loan

1. Educational institutions with adequate source of income

2. Educational institutions run by trusts, private management

3. Institutions should have necessary approval from the Government agencies to run the school

4. Building construction / alteration / renovation should have a proper approval from local bodies

5. The promoters / Trustees / key persons of the school should be persons of good standing in the society.

 

Nature of facility

Term loan with fixed repayment schedule based on repayment capacity and income streams

Margin: 15% of the project cost

Tenure of School Plus Bank Loan

1. Loan amount up to Rs. 2 lakhs - Repayable in 36 equated monthly installments

2. Loan amount from 2 lakhs to 5 lakhs – Repayable in 60 equated monthly installments

3. Loan amount above 5 lakhs – Repayable in 84 monthly installments

Security of SBI School Plus Bank loan scheme

Primary security: Hypothecation of the charge over assets acquired out of bank finance.

Collateral security:

1. Personal guarantee of the Key Manager/Trustees/Promoters/any other persons/body acceptable to the bank

2. Equitable Mortgage of the land and building of the school or of the guarantor (depending on the availability)

3. For loans over 2 lakhs equitable mortgage over the other immovable assets of the institution (depending on the availability)

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Comments

Sir we have a registered

Sir we have a registered society and we construct a school building. Sir now I want to know may we are eligible for loan

ITI College Building Construction loan - Reg.

Respected sir, I have run a iti college since 2010 and also open Current account in sbi bank in 2008 transaction is running. But I have approached to Bank manager for Construction of Loan and submitted the proposal one year back. Manager asked me to concern authority NOC and Security sir tell me how can the concern authority give us noc what can I do pls suggest.

I have also one acre land N.A pls suggest me sir

General Secretary

loan for constraction of school build

I have my own big house on nazool now i registered trust .i am willing to modify/reconstruct the house to school by donating my house/land to trust.Can i get loan to construct school/coaching clsses for poor?

Stanly Chirayath's picture

School Plus Loan for New Trust

If you have completed registration process of trust and the same trust has its own property, bank will give loan for building schools, provided, property to be the primary guarantee.

For loan

Dear sir,
I am director of mount valley academy.our trust need loan for construction of school building.
So help me for loan session.

Stanly Chirayath's picture

Bank Loan for Construction of School Building

If you have eligibility described in the article, have a meeting with branch manager of SBI near to your institution. He will guide you how to proceed. Better keep away from mediators or agents who offer many things that ultimately helps you to lose your money and time. Talk to only Manager in the office.

Getting Loan for School Building

Hello sir, i am already running school since 2016. I want to get loan for construction of building. Please guide me.

Thanks

LAND PURCHASING LOANS

Sir,
I have been running private school since 1996 on rental base. Now,I have nearly 500 students in my institution. I want to purchase land and construct pucca building to conform the children with good infrastructure. Can you provide loan.