School Loan

Product Description

The school loan product is designed for all Pakistani non-state schools (local private schools, technical educational institutions, and local school chains) to access affordable capital to help meet their schools’ financial requirements.

PKR

500,000

PKR

50,000

Years

5

Years

1

Your Monthly Installment

PKR

13,340

Markup Rate

35.99%

Your MONTHLY INSTALLMENTS WILL BE JUST

PKR 13669

NUMBER OF PAYMENTS

240

TOTAL INTEREST

PKR 152000

TOTAL COST OF LOAN

PKR 48000

Advance Payments

First Year Insurance *

PKR 1730

Processing fee

As per SOC

Total

PKR 16730

Loan Amount

Rs. 350,001/- to Rs. 3,000,000/-

Loan Tenure

12 Months to 120 Months (Equal Monthly Installments)

Basic Documentations

Valid Computerized National Identity Card (CNIC/SNIC)

Private Schools/Technical educational institutions registered with any authority permitted by the government
Schools that are franchise of renowned educational organizations, proof for franchise agreement and contract
Owner of School only
Age between 25-60 years (Max. 64 Years & 8 Months at the time of Maturity of Loan)
Experience of minimum of 3 Years of running of Schools / Technical Educational Institutes
Business premises may be owned or rented. However, in case of rented building the client must be operating the business at same location for the last 02 years.
Holding valid CNIC/SNIC
Not defaulter of any financial institutions & Public Utilities.
Residing or working in launching cities for at least 1 year in case of owned residence or Min. 02 years
Staff Strength shall be up to 25
Student Strength shall be minimum 100 students.

Rs. 350,001/- to Rs. 3,000,000/-

12 Months to 120 Months (Equal Monthly Installments)

Valid Computerized National Identity Card (CNIC/SNIC)
Valid and Clean eCIB and NADRA Verisys
1 recent passport size photograph of the Customer
Copy of last paid utility bill of School
Copy of School registration certificate
Valid rental agreement, if applicable (covering entire period of financing)
Franchise Agreement, if applicable
Copy of property documents offered as collateral
Legal Opinion on property documents (to be arranged by the bank)
Offered Property Valuation Report from PBA approved Valuator (to be arranged by the bank)
Bank Statement for last six months in case of School/Owner
Details of expected capital expenses in case of construction/renovation including details of costs to be borne by customer (Min. 20% of total expected expenses)

Mortgage of Property offered as collateral

Free Credit Life Insurance – Applicable on permanent disability and death of borrower
Customer paid Insurance of offered Property (If any)

As per SOC

*Terms & conditions applicable

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