- Get loan up to 70%-85% of project cost
- Flexible tenure facility
- Minimal paperwork
- Simplified document processing
PCollege Loan @8% Onwards
• Loan upto 200% of Property value
• Maximum Tenure 10 years
• Doorstep assistances provided
• Maximum Tenure 10 years
• Doorstep assistances provided
Feel free to use our Our Finance Calculator
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Calculator Disclaimer
The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by My Finance. It does not take into account your personal or financial circumstances.
Eligibility Criteria
What you mean by College Loans Eligibility Criteria?
Generally, most of you know running a college is not that much easy whether it’s a private or government college, each school require new technology, renovation, infrastructure changes over a specific period of time & such other things. Wherein school loans help to make it happen without effecting regular cash flow management.
College loans Eligibility Criteria
There are few eligibility criteria you are required to have a look before applying for loan
- • Applicant should be in-between 25 –65 years
- • Minimum 3 year of business vintage
- • Minimum annually total collected fee from student should be above 75lakh
- • Background of promoter should be good
- • College should be owned by the applicant
- • Must have good credit history
- • Applicant must be resident of India
What are the factors generally affecting College Loans Eligibility Criteria?
There are Top factors that generally affects College loans Eligibility Criteria as given below-
Existing Debts: – Lender review your loan application to check whether you pay any interest to existing loan, if yes then obviously it lowers the income ratio as well as the loan eligibility.
Low fee collection: – As stated in criteria minimum college annual total fee collection should be above 75 lakhs. Therefore, if you were unable to match the criteria you lower the chances.
What are the ways to increase College loans eligibility?
To increase College loans eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level.
Track your credit record: – One of the major point lenders consider is your credit score to know your creditworthiness. Hence, always track your credit record whether you missed or not paid any payment as by doing this let your eligibility increased.
Documents Required
- PHOTOGRAPH
- CLEAR PAN CARD – COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
- PROJECTED FEASIBILITY REPORT
- COMPANY PROFILE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCATION ESTIMATE
- PAN CARD CLEAR COPY PROPRIETOR
- ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
- PAN CARD CLEAR COPY PROPRIETOR
- ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
- OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
- FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
- LAST 1 YEAR GST RETURN COPY
- FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
- PROVISIONAL FINANCIAL AY 2019-20
- BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
- 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
- IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS WITH CHAIN SANCTION MAP
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- PARTNERS
- PAN CARD – COMPANY, ALL PARTNERS
- ADDRESS PROOF – ALL PARTNERS (PASS PORT, VOTER I PAN CARD, ADHAAR)
- FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL.
- PARTNERSHIP DEED COPY
- GST CERTIFICATE
- GST RETURN LAST 1 YEARS
- 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
- PROVISIONAL FINANCIAL AY 2019-20
- 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
- FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
- ALL PARTNER SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH MAP
- PROJECTED FINANCIAL
- PROJECT FEASIBILITY REPORT
- COMPANY PROFILE & MANAGEMENT PROFILE
- ISO CERTIFICATE & MSME CERTIFICATE
- POLLUTION CETIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING ONSTRUCTION ESTIMATE
- PHOTOGRAPH
- CLEAR PAN CARD – COMPANY AND ALL DIRECTORS
- ADDRESS PROOF – COMPANY AND DIRECTORS
- LIST OF DIRECTOR& SHARE HOLDER WITH CA CERTIFIED AS ON DATE
- MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
- GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
- 1 YEAR GST RETURNS
- ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
- LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
- PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
- COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
- ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
- IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
- AGREEMENT TO SELL COPY
- PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
- PROJECTED FEASIBILITY REPORT
- COMPANY PROFILE & MSME CERTIFICATE
- POLLUTION CERTIFICATE
- CMA DATA
- MACHINE QUOTATION
- BUILDING CONSTRUCATION ESTIMATE
Frequently Asked Questions
College Loan Interest Rate starting @14.00% onwards.
- Processing fee
- Part-prepayment charges
- Stamp duty
- Late interest penalty.
Firstly, choose your ideal bank then fill the enquiry form through their official website or visit nearest branch to gathering information.
This credit facility is providing for constructing and renovation of collage.
- Purchase of Land & Building for Colleges.
- Construction and renovation of new collage and existing infrastructure
- Purchase of Furniture & Equipment’s for collage
Firstly, fill the Application form, attach KYC Documents, identity documents of applicant and co applicant.
You can get up to 50000 to 2 crores as a College Loan.
Almost all Government Banks provide College Loan for the construction and renovation of college. you can get loan from any Government Bank at attractive Interest Rates.
Minimum cibil score required for the college loans is above 750, But sometimes also accept less than 750 scores depending on various factor.
