Introduction to school building construction loan
India is a land of talent, and talent needs to be nurtured. Schools play an important role in shaping students and their talents. Every student deserves to attend top schools that have the best infrastructure and facilities, and Varthana’s best school building construction loan is for the low-budget private schools that are unable to achieve this institutional framework.
School building construction loan
Varthana’s secured school loan is hassle-free and it is for the owners who want to construct a new building or renovate an old one. You can easily get a loan for construction of a school building, but you will have to mortgage property as security. The money can be utilised for a variety of things. Consider the construction of new classrooms, for instance. You can also purchase land for school expansion, remodel computer and science labs, buy vehicles such as school buses and vans, and so on.
This is how it works! The lender (Banks, NBFCs, or other financial institutions) lends money to school, college, or university owners for the construction of a new building, classroom, or the renovation of existing buildings within the school premises. This will subsequently improve the learning environment. Renovations to the new laboratory, library, and classrooms are likewise simple and quick to accomplish.
Want to apply for Varthana’s best loan for school construction? It is a simple process. Follow the below steps:
Varthana’s school loan process
Our private school loans process is divided into 4 Steps:
1. Enquiry
You can enquire about the school building construction loan by visiting www.varthana.com. Fill out and submit the contact form or give a call to us on 080-68455777. Our customer support team will call back to you within 4 hours of business day (Mon-Fri, from 9.30 am to 6.30 pm) seeking detailed information and will assign a dedicated relationship manager to fulfil your school loan needs.
2. Document collection
Our dedicated relationship manager will call you up or write you a mail, and fix up an appointment to understand your requirements and advise you on necessary documents required for the loan. Post receiving the documents the file will be processed.
3. Loan approval
After a thorough understanding of the proposed project, necessary due diligence and loan eligibility calculation, school loan would be approved in principle
4. Loan disbursement
Upon client’s acceptance for the approved loan amount and along with completion of disbursement documentation, the loan would be disbursed
Effective use of loan for school construction
This can include everything from constructing a new building, renovating and repairing existing structures, expanding the premises, or anything else along the same lines. We will help you in your journey to make learning more accessible for all!
Loan for school construction: Features and benefits loans
Apply for a school loan for construction and avail of up to 2 crores of school funding for larger school projects
Payback in easy monthly installments up to 6 years
Enjoy convenient and doorstep service
A dedicated relationship manager will take care of your needs
A wide range of collaterals are accepted for the loan
Documents required for the school building construction loan
KYC documents
Relevant business financial documents
Proof of business: Incorporation or registration certificate
Bank account statements of up to 12 months
Depending on the type of loan, collateral documents may be required
Why Varthana
Varthana is India’s largest specialised school finance company. We make quality education accessible in a simple and affordable manner.
We operate in 15 states and are recognised as one of the top school loan companies in India, having assisted over 4000 private schools to date.
Our best school loans are flexible to meet the needs of private schools
We also offer academic and management support designed for individual schools
Frequently asked questions (FAQs) of school construction loan
You can apply for private school loans by visiting www.varthana.com and by filling out an enquiry form or reaching us at 080-68455777
No. You cannot get a loan for constructing a new school.
The minimum 3 years of existence of school is required to avail any school loans from Varthana.
Yes, we are one of the best loan for school construction providers in Haryana. Varthana also takes pride in providing loans for schools in Himachal Pradesh, Uttarakhand, Karnataka, Punjab, Rajasthan, Delhi-NCR, Gujarat, Maharashtra, Tamil Nadu, Telangana, Andhra Pradesh, Odisha, Chhattisgarh, Madhya Pradesh, Uttar Pradesh
Depending on the school loan eligibility criteria, creditworthiness, loan amount, usage of loan we have tenures starting from 3-6 years
The whole school loan process may take 5-7 days.
The loan for school construction amount will be repaid to the lender through Easy Monthly Installments (EMIs) over the course of the loan’s term. The loan can be paid back using the National Automated Clearing House (NACH), or Post-Dated Cheques (PDCs).
The rate of interest is calculated using an array of factors such as loan amount requested, type of school loan, collateral type offered, loan tenure chosen, the future cash inflow of the school, loan repayment history, and so on.
To determine if you need a school infrastructure loan to expand your facilities, evaluate your current financial resources and projected costs. If your budget falls short, a loan may be necessary.
Varthana can help by providing flexible, tailored school infrastructure loans for needs like furnishing your campus, setting up labs, installing CCTV, upgrading to smart classrooms, or obtaining vehicles. With our infrastructure loans, you can effectively drive your school’s progress and development. Visit our page to learn more
To apply for the loan, you’ll need the following documents:
- Completed School Loan Application form along with a photo
- Proof of Identity: Aadhaar card, PAN card, Driver’s licence, Voter ID, or Passport
- Proof of Age: Birth certificate, Voter ID, or School/college leaving certificate
- Proof of Address: Passport, Aadhaar card, Voter ID, or Passport
- Proof of Address: Passport, Aadhaar card, Voter ID, Landline bill, Rent agreement, Driver’s licence, Bank statement, Utility bill
- Ownership Proof: Incorporation or registration certificate
- Additional Documents: Collateral documents for secured loans
- Income Proof: Bank statements for up to 12 months and any other relevant financial documents
If you are unable to repay a school infrastructure loan or a school building construction loan from Varthana, it can negatively affect your financial health. Delaying even one EMI can lead to always being overdue, putting pressure on future payments. This will negatively impact your credit score, making it difficult to obtain future loans or leading to higher interest rates. Additionally, Varthana may take legal action to recover the loan, including taking any collateral you provided. However, if you communicate with Varthana promptly, they may offer solutions to help you manage repayments and maintain a healthy financial standing.
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