Request Call Back!

Why Take Loan Against School Property From Us?

  • 20 years of experience in Loan Against School Property.
  • Loan Against School Property up to Rs. 100 crore.
  • Lowest ROI & processing fees.
  • 20% higher loan amount than other service provider.
  • Maximum loan on market value of the school property.
  • “NO INCOME PROOF” loan.
  • Loan Against School Property to “LOW CIBIL SCORE” or “NO CIBIL SCORE”.
  • Minimum Documentations
  • Fastest loan approval guaranteed
  • No Hidden Charges
  • Amicable after sales service

Do you want to know more about Loan Against School Property?

When an individual is running a private school or college on his owned property and want to improve infrastructure, education quality, new teaching technology, sports activity, library, lab, amenities in the school, etc. It requires a large amount of investment.

When an individual takes loan against school property from bank or NBFC to improve the infrastructure and quality of education of the school to meet the growing expectations and requirements of the parents, students and regulatory authorities is called loan against school.

Benfits of Loan Against School Property are as follows:-

  • RENNOVATION OF THE SCHOOL: If you want to renovate your school. You can take loan against school property from bank or NBFC to renovate the school.
  • PURCHASE OF LAND & BUILDING FOR THE SCHOOL: If you want to open a new branch of the school or you want to buy adjacent land with the school or you want to build a new building in the same school to improve the infrastructure of the school then you can take loan against school property from bank or NBFC to purchase of land & building for the school.
  • PURCHASE OF FURNITURE AND FIXTURE FOR THE SCHOOL: If you want to purchase, bench, chair, table, air conditioner, fan, exhaust fan, etc for the school then you can take loan against school property from bank or NBFC to buy furniture and fixture for the school.
  • PURCHASE OF SPORTS GOODS AND LAB EQUIPMENTS FOR THE SCHOOL: If you want to buy sports goods and lab equipment for the school, you can take loan against school property from bank or NBFC to fulfill the school requirement.
  • IMPROVE GOODWILL OF THE SCHOOL: Schools are being evaluated by parents, students and other regulatory authority by the infrastructure and other amenities being provided by the school. To improve the infrastructure and amenities in the school you can take loan against school property from bank or NBFC and thus increases the goodwill of the school.

All the bank or NBFC have their own loan eligibility criteria but there are some common loan eligibility criteria which borrower has to fulfill to avail loan against industrial property from bank or NBFC.

Following are some key important factors which would be checked by bank or NBFC to accept or reject the loan against industrial property application:-

  • PRIVATE SCHOOL LAND: The ownership of school land must be private. The owner has not taken any kind of grant or aid for the school land.
  • UNAIDED SCHOOL: The school must private and not taking any kind of grant or aid from the central or state government to run the school.
  • RECOGNITION: The private school must be recognized by central or state education board.
  • MINIMUM FEE CRITERIA: The school must have monthly fee of at least Rs. 500 per student.
  • MINIMUM STUDENT CRITERIA: The school must have minimum 250 students enrolled.
  • REGULAR INCOME: The school must have regular source of income.
  • REPAYMENT TRACK RECORD OF LOANS: The school must have good repayment track record of all previous loans.

Generally, schools are registered under society or trust.

Document required for school loan are as follows:-

Individual Document

KYC Documents

  • Pan Card
  • Aadhar Card
  • Voter ID Card
  • Passport
  • Latest Month Electricity Bill
  • Copy of Rent Agreement/ Registered Lease Deed

Income Documents

  • Latest 3 year ITR with computation of Income
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the saving account statement

Loan Documents

  • Copy of Sanction Letter
  • Upto date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed
School/ Society/ Trust Document

KYC Documents

  • Society/ Trust Pan Card
  • Society/ Trust registration
  • By-laws of Society/ Trust
  • Society/ Trust Profile on Letterhead of the School
  • Updated members of society or trust list duly certified by CA of the company

Income Documents

  • Latest 3 year ITR with computation of Income including P & L a/c, balancesheet with their schedule and annexures duly certified by CA
  • Form No. 3 CA & 3 CD in case of audited balance sheet
  • Latest 2 years VAT/ Sales Tax/ GST return
  • Latest 2 year form 26AS if applicable

Bank Statements

  • One year up to date all the current account statement

Loan Documents

  • Copy of Sanction Letter
  • Up to date loan account statement
  • Loan repayment schedule
  • 12 Months up to date bank statement showing repayment of the loan
  • Loan closure proof if loan is closed

Property Documents

  • Copy of Complete chain of school property paper.
  • Copy of sanctioned plan or Map.

WHAT IS THE SCHOOL PROPERTY LOAN RATE OF INTEREST ?

School property loan rate of interest varies from bank to bank. It is slightly higher than standard loans rate of interest. It is advisable to compare School property loan rate of interest of different bank and financial institutions and chose the best one which suits your need.

OR

You may take an expert advice of Sanuk Financial Services professional consultants who will help you to choose best bank who offers you lowest rate of interest on School Property loan with nominal bank processing fees.