Baroda Vidyasthali Loan is a special scheme for financing Educational Institutions.
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.
Educational institutions, Schools, Colleges and other education bodies running education activities
Note : HUF are not eligible.
Minimum Rs.25 lacs
Maximum Rs.15 crores
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.
25% of the cost of the project.
RATE OF INTEREST
Up to Rs.5.00 Croresï¿½Base Rate +1% p.a.
Above Rs.5.00 Crores up to Rs.10.00 Crores-Base Rate +1.50%
Above Rs.10.00 Crores up to Rs.15.00 Crores-Base Rate +2.25%
Term Premium for Term Loan as per guidelines
Maximum 84 months including moratorium period of 2 year, depending upon the projected cash flow.