Baroda Vidyasthali Loan

Baroda Vidyasthali loan is a special scheme for financing educational institutions.

Target group: educational institutions.

Eligibility

• All educational institutions including play school exposure are limited to ZEE school, Euro kids, Kidzee, world school (and their franchise), where HUF are not eligible.
• Credit rating BOB-6 and above only to be financed under the scheme.

Nature of Facility

• Term loan/overdraft (OD to existing profit making concerns only).
• OD to those with L&B as primary security along with a fee module facility with us.

Purpose

• Construction of buildings including expansion, modernization and renovation activities of educational institutions.
• Purchase of instruments for education/training purposes.
• Finance for the purchase of land alone is not permissible. However, if the land cost is included in the total cost of the project, the same can be financed. However, land cost should not be more than 20% of the total project cost and an undertaking to be obtained that building construction will be completed within a period of 2 years.
• OD for short term fund requirements based on cash budget provided the institution is profit making and without any other bank liability.
• Vehicles can be financed as per CV finance product guidelines.

Limit

For Term Loan: Minimum - Rs. 25 lakhs, Maximum - Rs. 15 crores. (Rs. 25 crores for Mumbai/greater Mumbai, Delhi-NCR, Bangalore, Hyderabad). For vehicle funding limit, as per CV guidelines (bus funding limit-max Rs. 2 crores).

For Overdraft: Maximum – Rs. 3 crores (Rs. 5 crores for Mumbai/greater Mumbai and Delhi-NCR) or 60% of expected total fees collection, whichever is less.

Competitive pricing linked to repo rate/MCLR.