State Bank of Mysore

Trusted Service

SBM School Plus

A new scheme for Construction / Renovation / Repairing of School/College Buildings; Purchase of electronic equipments such as Computers, Laboratory Equipments, Library Books etc.,

SBM School Plus

Salient features of the scheme:

Nature of facility
Demand Loan / Term Loan

Eligible Customers
Educational Institutions with adequate source of income

PurposeConstruction / Renovation / repairing of school/College buildings; Purchase of Electronic equipments such as computers; Laboratory Equipments, Library books etc.,

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: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

State Bank of Mysore,
H .O.: K.G.Road,
Bangalore - 560254, INDIA.
Phone (EPABX): 91 80 22353901 (30 lines of PRI)
Fax: 91 80 22283684

Download Application Form

 Application Form