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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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