|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.
· 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.
|Detail Link||View Link|