Hi buddy here I have come to get info about on State Bank of India (SBI) School Plus plan , so can you plz tell me about it ?

As you asking I am telling STATE Bank of India (SBI) has introduced a new scheme `School Plus' for promotion of computer education and training in approved schools with student strength of 500 and above.

The scheme starts to provide timely credit to educational institutions with a flexible repayment programme without straining the liquidity of the institution.

Loans can be sanctioned to setup/ expand/ renovate/ modernize educational institutions, such as
Purchase of land for building / play ground
Construction of school building / auditorium
Repair / renovation of existing building
Purchase of computer and related equipment
Purchase of books/manuals/ software and other training material
Purchase of laboratory equipment
Purchase of furniture / fixtures
Purchase of sports equipment
Equipment for mid day meal scheme

Quantum of Loan :
Need based finance will be made based on the project cost.

Repayment :
Working Capital Loan is valid for 12 months
Term Loan to be repaid in 36 to 96 Months

Margin :
20%

Security :
Primary : Hypothecation of assets acquired by Bank Finance.

Collateral :
For loan amount upto `10.00 lacs – Nil – For loan amount Above `10.00 lacs 50% of Loan amount