SBM School Plus
Salient features of the scheme:
Nature of facility
Demand Loan / Term Loan
Educational Institutions with adequate source of income
Quantum of Finance
Minimum Rs.50000/-
Maximum Rs. 25.00 lacs
Margin
15% of the cost
Period of repayment
Maximum period of 7 years
Rate of interest (wef 10.04.07)
| Amount | Rate of Interest(%) |
| Upto Rs. 2.00 lacs | 12.25%(1% below SBMPLR, ie. 13.25-1.00 =12.25%) |
| Above Rs. 2.00 lacs & upto Rs. 25.00 lacs | |
| a) Repayable in less than 3 years | At SBMPLR ie. 13.25% |
| Repayable in 3 years & above | 13.75%(0.5% above SBMPLR ie. 13.25+0.50=13.75%) |
Primary Security
Equitable mortgage of the immovable property / hypothecation of assets acquired out of the Bank loan.
Collateral Security
Personal guarantee of key persons / Trustees / Promoters. Equitable mortgage of immovable property.
Insurance
Adequate Insurance cover to be obtained.
Contact your nearest Branch of State Bank of Mysore or
Chief Manager
State Bank of Mysore
Commercial & Institutional Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.378 ; 22259759
Fax: 91 80 22262361
Email:
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