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Q.1- What is the
purpose of SBBJ Shikshayatn Plus Scheme under C&I segment?
A. The loan can be granted for the undernoted purposes-
a) Construction of new building / repair, renovation of existing building with adequate safe infrastructure.
b) Purchase of electronic equipments such as computer/ computer peripherals etc.
c) Cost of acquiring software programmes, purchase of costly manuals/books related to training, teaching materials.
d) Purchase of Lab equipments.
e) Purchase of furnitures/fixtures.
f) Other equipments necessary for the teaching / sports / mid-day meals scheme.
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Q.2 Who can avail
this facility and what are pre-conditions?
A-
a) Educational Institution with adequate source of income. (Both Government aided Schools /Schools governed by private management)
b) Institutions run by trusts /private management with good standing and adequate source of income, provision to borrow from financial institutions / Banks etc. backed by Trust deed/Bye laws/ Resolutions.
c) Institutions should have necessary approvals from Government agencies to run the school.
d) Building construction/ alteration/ renovation should have proper approval from local bodies.
e) The promoters/Trustees/ key persons of the school should be persons of good standing in the society.
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Q.3 What is the
limit of Finance?
A Minimum Loan Amount Rs. 0.50 Lacs, Maximum Loan Amount Rs.25.00 Lacs.
Projects exceeding Rs.25.00 lacs may be considered. |
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Q.4 What is the rate
of interest? |
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A-
Size of
credit limit
Upto
Rs. 2 lakhs. . . . . .
Above
Rs.2 lakhs & upto Rs.5 lakhs. . . . . . . . . . . . .
Above
Rs.5 lakhs & upto Rs.25 lakhs… . . . . . . . . .
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11.25 % (1.50% below BPLR)
12.75 % (At BPLR)
13.75 % (1% above BPLR) |
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Q.5
What is the repayment period?
A-
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Loan amounts-
i) Up to Rs. 2 lacs-
ii) From Rs.2 lacs to
Rs. 5 lacs- - - - -
iii) Above Rs. 5 lacs-
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Repayable in 36
EMI.
Repayable in 60 EMI.
Repayable in 84 EMI.
Where
the school has better revenues, a faster repayment may be negotiated. |
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Q.6
What’s the margin under this Scheme?
A-. 15% of the project cost. |
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Q.7
What are the security norms under the Scheme? |
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A. -
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Security
Primary……
Collateral… |
Hypothecation of
charge over the assets acquired out of Bank finance.
Personal guarantee
of the Key Manager/Trustees/ Promoters/any other person/body acceptable
to the Bank.
Depending upon the availability, the
sanctioning authority may consider the following,
Equitable Mortgage of the land and
building of the School or of the guarantor.
For loans above Rs.
2.00 lacs equitable mortgage over the other immovable assets of the
Institution if available.
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