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School Loan

Bank Name Min Interest Rate Processing Fee Max Loan (Lacs) Max Tenure (Month) Chances of Loan Approval
8.50% 1% 1500 120
8.90% 1% 1500 120
8.75% 1% 1500 120
8.80% 1% 1500 120
8.90% 1% 1500 120
8.90% 1% 1500 120
8.50% 1% 1000 120
8.80% 1% 1500 120
8.92% 1% 1000 120
8.75% 1% 1500 120
8.50% 1% 1500 120
8.50% 1% 1000 120
8.75% 1% 1500 120
8.70% 1% 1500 120
8.00% 1% 1500 120
8.10% 1% 1500 120
8.20% 1% 1000 120
8.20% 1% 1000 120
8.00% 1% 1500 120
8.00% 1% 1500 120
8.00% 1% 1500 120
8.50% 1% 1000 120
8.50% 1% 1500 120
8.50% 1% 1500 120
8.20% 1% 1500 120
8.10% 1% 1000 120
8.00% 1% 1500 120
8.50% 1% 100 120
Apply Now EMI Calculator Eligibility Criteria Documents Check List FAQs
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Eligibility Criteria

What you mean by School loans Eligibility Criteria?

Generally, most of you know running a school is not that much easy whether it's a private or government school, each school require new technology, renovation, infrastructure changes over a specific period of time & such other things. Wherein school loans help to make it happen without effecting regular cash flow management.

School loans Eligibility Criteria

There are few eligibility criteria you are required to have a look before applying for loan -

  • • Applicant should be in-between 25 –65 years
  • • Minimum 3 year of business vintage
  • • Minimum annually total collected fee from student should be above 75lakh
  • • Background of promoter should be good
  • • School should be owned by the applicant
  • • Must have good credit history
  • • Applicant must be resident of India

What are the factors generally affecting School loans Eligibility Criteria?

There are Top factors that generally affects School loans Eligibility Criteria as given below-

Existing Debts: - Lender review your loan application to check whether you pay any interest to existing loan, if yes then obviously it lowers the income ratio as well as the loan eligibility.

Low fee collection: - As stated in criteria minimum school annual total fee collection should be above 75 lakhs. Therefore, if you were unable to match the criteria you lower the chances.

What are the ways to increase School loans eligibility?

To increase School loans eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.

Track your credit record: - One of the major point lenders consider is your credit score to know your creditworthiness. Hence, always track your credit record whether you missed or not paid any payment as by doing this let your eligibility increased.

Documents Required

INDIVIDUAL
  1. PAN CARD COPY

  2. AADHAR CARD + PASSPORT

  3. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF

  4. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE

  5. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT

  6. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)

  7. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS

  8. PROCESSING FEE CHEQUE IN FAVOUR OF BANK

  9. PROJECTED FINANCIAL

  10. PROJECT FEASIBILITY REPORT

  11. COMPANY PROFILE & MANAGEMENT PROFILE

  12. ISO CERTIFICATE & MSME CERTIFICATE

  13. POLLUTION CERTIFICATE

  14. CMA DATA

  15. MACHINE QUOTATION

  16. BUILDING CONSTRUCTION ESTIMATE

  17. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER

PROP FIRM
  1. PAN CARD CLEAR COPY PROPRIETOR

  2. OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)

  3. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY

  4. LAST 1 YEAR GST RETURN COPY

  5. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE

  6. PROVISIONAL FINANCIAL AY 2019-20

  7. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)

  8. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)

  9. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED

  10. AGREEMENT TO SELL COPY

  11. PROPERTY PAPERS WITH CHAIN SANCTION MAP

  12. PROJECTED FINANCIAL

  13. PROJECT FEASIBILITY REPORT

  14. COMPANY PROFILE & MANAGEMENT PROFILE

  15. ISO CERTIFICATE & MSME CERTIFICATE

  16. POLLUTION CERTIFICATE

  17. CMA DATA

  18. MACHINE QUOTATION

  19. BUILDING CONSTRUCTION ESTIMATE

PARTNERSHIP FIRM
  1. PARTNERS

  2. PAN CARD - COMPANY, ALL PARTNERS

  3. ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)

  4. FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL.

  5. PARTNERSHIP DEED COPY

  6. GST CERTIFICATE

  7. GST RETURN LAST 1 YEARS

  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED

  9. PROVISIONAL FINANCIAL AY 2019-20

  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION

  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED

  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH

  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED

  14. AGREEMENT TO SELL COPY

  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP

  16. PROJECTED FINANCIAL

  17. PROJECT FEASIBILITY REPORT

  18. COMPANY PROFILE & MANAGEMENT PROFILE

  19. ISO CERTIFICATE & MSME CERTIFICATE

  20. POLLUTION CETIFICATE

  21. CMA DATA

  22. MACHINE QUOTATION

  23. BUILDING ONSTRUCTION ESTIMATE

PVT.LTD
  1. PHOTOGRAPH

  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.

  3. ADDRESS PROOF – COMPANY AND DIRECTORS.

  4. LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE

  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)

  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE

  7. 1 YEAR GST RETURNS

  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS

  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE

  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR

  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED

  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH

  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED

  14. AGREEMENT TO SELL COPY

  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP

  16. PROJECTED FEASIBILITY REPORT

  17. COMPANY PROFILE & MSME CERTIFICATE

  18. POLLUTION CERTIFICATE

  19. CMA DATA

  20. MACHINE QUOTATION

  21. BUILDING CONSTRUCATION ESTIMATE

FAQs

Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.

What is School Loan?

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School Loan are provided for the construction and renovation of schools to improve educational infrastructure.

What are the benefits of School Loan?

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  • Get loan up to 70%-85% of project cost
  • Flexible tenure facility
  • Minimal paperwork
  • Simplified document processing

What will be the necessary documents required to apply for School Loan?

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Submit Application attach necessary documents, KYC documents. Copy of affiliation certificates of the school.

How much School Loan can I get?

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 You can take School Loan minimum 50,000 to 2 crores as a maximum loan amount.

Which bank provide the School Loan?

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Almost all Government Banks provide School Loan for the construction and renovation of private schools. Get loan at attractive Interest Rates.

How much cibil score required for School Loan?

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Minimum cibil score required for the school loans is above 750, But some may also accept less than 750 scores depending on various factors.

What are the other charges applicable in school loan?

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  • Processing fee
  • Foreclosure fee
  • Part-prepayment charges
  • Stamp duty
  • Late interest penalty

How to apply for School Loan?

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Choose your ideal banking partner, once chosen fill the enquiry form through their official website or visit nearest branch to further information.

What is the current interest rate of School Loan?

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School Loan Interest Rate starting @14.00% onwards.

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