Baroda Vidyasthali Loan is a special scheme for financing Educational Institutions.
PURPOSE
To meet the financial requirements for setting up the institutions which includes construction of building, purchase of equipment etc. for the new set up as also renovation of the existing facilities, purchase of instruments for imparting education training to the students.
ELIGIBILITY
Educational institutions, Schools, Colleges and other education bodies running education activities
Note : HUF are not eligible.
LIMIT
Minimum Rs.15 lacs
Maximum Rs.500 lacs
SECURITY
Equitable mortgage of Land & Building (not agricultural land).
Hypothecation of Instruments & Equipment acquired out of the loan and other assets of the Educational Institution.
Personal guarantees of the Promoters of the Institution.
MARGIN
25% of the cost of the project.
RATE OF INTEREST
0.50% below Bank’s BPLR from time to time.
REPAYMENT PERIOD
Maximum 84 months including moratorium period of 1 year, depending upon the cash flow.
Note : Scheme is operative at select centres only.
Baroda Vidyasthali Loan