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Central Bank

CENT – MORTGAGE- EDUCATIONAL INSTITUTIONS

Bank Central Bank of India
Scheme CENT – MORTGAGE- EDUCATIONAL INSTITUTIONS
Description To meet any sort of operational expenses, but not for any speculative purpose / Real Estate activity / Capital Market activity.
Eligibility ·        Loan against mortgage of immovable property with Institute building located in Metro/Urban/Semi-urban centres.

·        The private educational institutions incorporated as Society/Trust, should be in existence for minimum 5 years and at least 2 batches of students should have passed out from the institute affiliated to different Educational Boards/Universities recognized by Government / UGC/any Statutory Body like AICTE/IMC etc

Rate of Interest & Repayment MCLR + 4.50 % for Term Loan and Over Draft.

Repayment:

·        Term Loan is to be repaid in Maximum 120 equated monthly instalments (EMIs), commencing from next month of disbursement.

·        •Over Draft: for 12months renewal annually.

Collateral ·        EM of non-encumbered Land with Building in the name and possession of the Institute, located in Metro/Urban/Semi-urban centres.
Composite /loan Limit ·        Minimum: Rs.1.00Lac

·        Maximum: Rs.500.00Lac.

Margin  
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