Eligibility Criteria for Education Infrastructure Loan
| Parameters | Description |
|---|---|
| Minimum Loan | INR 25,00,000 |
| Maximum Loan | INR 20,00,00,000 |
| Loan Tenure | Minimum – 36 months, Maximum- 120 months |
| Loan Borrowers (Ordinary Resident) | Societies/ Trusts/ Public and Private Limited Companies running state government recognized schools and/or junior colleges – Unaided |
| Co-applicants | In case of Private/ Public Limited companies, directors with atleast 51% stake to be taken as co-applicant. For public limited companies, norms for funding to public limited companies to be followed. In case of trusts/societies, the main trustee working as Chairman/ Secretary should be roped in as a co-applicant. |
| Business vintage | Minimum 5 year in the current business |
| Collateral loan to value | Maximum 70% (Self occupied Residential Property) |
| Repayment mode | Primary mode: NACH- National Automated Clearing House |
| PDC | One PDC for initial 1st Emi banking |
| Primary security and collateral | Mortgage of Property – In favour of Reliance Commercial Finance Limited |
| End use of funds | Business Expansion, Debt Consolidation etc. The end use of the loan shall not be used for any speculation, illegal activities, litigation or any other nefarious activities |
| Eligible collateral | Residential Property, Commercial Property and Industrial Property |
| EMI cycle | Any of the dates – 1st/5th/10th of month |
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