Personal Loan
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LOAN AGAINST FUTURE FEES RECEIVABLES

Purpose

  • For meeting on going business needs including expansion of present business, establishment of new school/college/institute, day to day, expenses, payment of existing Loan dues etc.

Nature of facility

  • Term Loan/Overdraft facility with reducing Drawing Power.

Target customer

  • Schools, Colleges, Educational Institutes, Training Centers approved by Govt/UCT/AICTE/MCI and other approved regulatory authorities.

Eligibility

  • Schools, Colleges, Educational Institutes, Training Centers approved by Govt/UCT/AICTE/MCI and other approved regulatory authorities.
  • The school/ college/institutes should be operational for more than 3 consecutive academic years

Quantum of Loan

  • Minimum Loan Amount is Rs. 25 lacs
  • Maximum Loan Amount is Rs.100 Cr.
  • Up to 2 year duration: 85% of Net Present value of Future Fees Receivables
  • For 2 to 5 year duration: 80% of Net Present value of Future Fees Receivables
  • For 5 to 10 year duration: 75% of of Net Present value of Future Fees Receivables

Future Fees Receivables = Gross Fees Receivables less (advance fees received + maintenance and operational expenses + any interest/ installments + other statutory dues of the lessor)

Rate of interest

  • For repayment period up to 3 years: MCLR + 2.00%
  • For repayment period above 3 years: MCLR + 2.50%

Security

  • Assignment of Future Fees receivables in favor of the Bank.
  • Equitable Mortgage of unencumbered property preferably belonging to the borrower for which the loan has been taken, value of which should be to the minimum of 125% of proposed loan.
  • If the land and building of borrower is already mortgaged with other bank, security by way of second charge in favour of Bank should be created as collateral on the said mortgaged property.

Repayment

  • To the extent of period of discounting but Maximum 10 years.
  • Repayment shall be Equated Monthly Installments.

Processing Charges

  • 0.5% of the loan amount subject to minimum of Rs.10,000/- and maximum of Rs.25 lakhs.

Guarantee

  • Guarantee of owner of security offered for mortgage if the security is not in the name of applicant.

Insurance

  • The mortgaged property should be insured against fire, riots wherever required and also against other appropriate hazards, such as earthquake, flood, lightning etc. with the usual Bank clause for full value of the property. Insurance cover should be kept in force during the currency of loan.
Loan type Forms
Application Form 1 for Loan of Rs.5 Crore to Rs.15 Crore Download Word Document Format
Download PDF Format
Application Form 2 for Loan of Rs.15 Crore to Rs.40 Crore Download Word Document Format
Download PDF Format
Application Form 3 for Loan of Rs.40 Crore and above Download Word Document Format
Download PDF Format
Standardised Common Loan Application Form for Agriculture Credit Download PDF Document Form
Common Application Form (Required for all loan schemes). Download Word Document Format
Download PDF Format
Cent Buy Download Word Document Format
Download PDF Format
Cent Computer Download Word Document Format
Download PDF Format
Cent Liquid Download Word Document Format
Download PDF Format
Cent Mortgage Download Word Document Format
Download PDF Format
Cent Trade Download Word Document Format
Download PDF Format
Cent Vyapari Download Word Document Format
Download PDF Format
Housing Loan Application Download Word Document Format
Download PDF Format
Cent Home Loan Plus Download Word Document Format
Download PDF Format
Cent Suvidha Download Word Document Format
Download PDF Format
Cent Vehicle Download Word Document Format
Download PDF Format
Cent Vidyarthi Download Word Document Format
Download PDF Format
Cent School Download Word Document Format
Download PDF Format
Teacher's Loan Download Word Document Format
Download PDF Format
Cent Rental Download Word Document Format
Download Word Document Format
Download PDF Format
Download PDF Format
Cent Doctor Download Word Document Format
Download PDF Format
Cent Swabhiman Download Word Document Format
Download PDF Format
Personal Loan for Pensioners Download Word Document Format
Download PDF Format
Personal Loan to Employees of Corporate Sector Download Word Document Format
Download PDF Format
Personal Loan to Employees of Non-Corporate Sector Download Word Document Format
Download PDF Format
Loan to LIC Agents Download Word Document Format
Download PDF Format
Loan to MSEs Download PDF Format
Cent Sahyog (form for upto 10 lakhs) Download PDF Format
Cent Sahyog (form for above 10 lakhs) Download PDF Format
Application for Agricultural Loans Download PDF Format

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