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  • Overdraft: Need Based

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    The PNB Gurukul Scheme aims to provide term loans and overdraft facilities to educational institutions for purposes like new construction, expansion, renovation, purchasing equipment and vehicles. Eligible institutions include schools, colleges, and other educational bodies set up as firms, companies, trusts or societies. Margin required is 25% of the loan amount and collateral security should be at least 50% of the loan amount. Loans can be up to 10 years including a moratorium period. Primary security is hypothecation of assets and mortgage of land, while personal guarantees of promoters/trustees are also taken.

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    GURUKUL

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    The PNB Gurukul Scheme aims to provide term loans and overdraft facilities to educational institutions for purposes like new construction, expansion, renovation, purchasing equipment and vehicles. Eligible institutions include schools, colleges, and other educational bodies set up as firms, companies, trusts or societies. Margin required is 25% of the loan amount and collateral security should be at least 50% of the loan amount. Loans can be up to 10 years including a moratorium period. Primary security is hypothecation of assets and mortgage of land, while personal guarantees of promoters/trustees are also taken.

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    21 views2 pages

    Overdraft: Need Based

    Uploaded by

    omkar maharana
    The PNB Gurukul Scheme aims to provide term loans and overdraft facilities to educational institutions for purposes like new construction, expansion, renovation, purchasing equipment and vehicles. Eligible institutions include schools, colleges, and other educational bodies set up as firms, companies, trusts or societies. Margin required is 25% of the loan amount and collateral security should be at least 50% of the loan amount. Loans can be up to 10 years including a moratorium period. Primary security is hypothecation of assets and mortgage of land, while personal guarantees of promoters/trustees are also taken.

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    © All Rights Reserved
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    PNB GURUKUL SCHEME

    PARAMETERS PARTICULARS
    Purpose/ To meet the financial requirements for setting up of new/
    Objective expansion/ renovation/ modernization of recognized
    Educational Institutes i.e. Schools (including play schools),
    Colleges and other educational bodies, running education
    institutions having necessary affiliation. Construction of
    hostel/canteen/labs etc. is also permissible under the
    scheme.

    To purchase equipments, Vehicles, Computer/Library books/


    furniture /AC/ Lab equipments, etc.

    Eligibility Educational institutions, Schools (including play schools),


    Colleges and other educational bodies running educational
    institutions set up by Firms/ Company/ Trusts/ Society/
    Private Ltd. Co./ Public Ltd. Co./ LLP etc. (HUFs are not
    eligible).

    Education institutions which are covered under the scheme


    may also be financed for construction of hostel, canteen,
    activity Centre which are exclusively used by the concerned
    institution provided cash flow of the education institutions is
    sufficient enough to meet the obligation under agreement.
    Area of operation All Branches of the Bank.
    Type of facility Term Loan: Need based
    Overdraft: Need based

    Margin 25% for both Term Loan and Working capital


    Wherever land is also financed as part of the cost of project
    in such cases minimum prescribed margin against cost of
    land shall be 40%.
    Further, the quantum of finance against cost of the land
    shall be restricted to 50% of the total sanctioned loan
    amount.
    However, maximum finance for the land shall not exceed
    Rs. 2.00 crore.
    Tenure of Loan Term Loan: Upto 10 years including moratorium period of
    maximum upto 24 months.
    Overdraft Facility: Shall be sanctioned for a period of one
    year subject to annual renewal.

    Primary Security Hypothecation of entire equipments, Current & Non-current


    assets of the unit.
    Mortgage of Project Land with existing / future construction
    thereon.

    Collateral Minimum 50% of the loan amount (Other than the land
    Security and building of the educational institute) shall be
    obtained in the form of immovable property / liquid
    security.

    Institutions whose final approval is pending (After


    receipt of Letter of Intent from the concerned authority
    like AICTE, UGC, MCI, DCI, CBSE, ICSE etc. as applicable
    at particular stage), collateral security shall be 100% of
    the loan amount (Other than the land and building of the
    educational institute)

    Personal guarantees of the Promoters/ Trustees (only office


    bearers excluding professional office bearers) / Members of
    the Society (only office bearers excluding professional office
    bearers)/ Proprietor/ Partners /Directors (excluding
    professional or independent directors) of the Institution shall
    be obtained.

    Note:
    1. While sanctioning credit facilities to the Educational
    Institutions, comfort should not be derived from the
    securities being offered. The viability of the project and
    cash flows of the Educational Institutions are to be relied upon
    while considering any credit facilities to the Educational
    Institutions.
    2. Education Institutions are not eligible to be covered under
    CGTMSE Scheme.
    Rate of Interest As per

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