School Loans

A school loan is a type of business loan designed specifically for educational institutions. It helps schools upgrade infrastructure, adopt new technologies, and improve facilities to meet the needs of modern students.

Business loans for schools cover expenses like classroom renovations, lab equipment, smart learning tools, and campus development.

School loans offer significant financial support to educational institutions seeking to expand and enhance their facilities. The funds can be used for construction, renovation, or overall infrastructure development. The following are the key benefits of obtaining a school loan:

• Unsecured Loan

There is no need to pledge any property or asset as collateral. Applicants need to meet the eligibility criteria, submit the required documents, and receive approval within 48 hours.

• Flexible Repayment Options

School loans come with customisable repayment tenures and EMI plans. This enables institutions to manage their cash flow effectively and repay according to their financial capacity.

• Online Loan Management

Institutions can track loan details, EMI schedules, and statements through a secure online customer portal. This ensures transparency and simplifies financial planning.

• Flexi Loan Facility

Institutions can borrow from the approved loan limit as needed and pay interest only on the utilised amount. They can make multiple withdrawals without any additional charges, offering flexibility in managing expenses.

• Quick Disbursal

Funds are transferred to the institution’s account promptly, often within 24 to 48 hours of loan approval. This enables institutions to initiate projects or address urgent financial needs without delay.

• Expansion and Growth

Provides financial support to educational institutions for expanding their infrastructure. Institutions can use the funds to build new facilities, upgrade classrooms, or invest in better learning environments.

A business loan for schools can be used for various developmental and operational needs. It helps institutions improve infrastructure, adopt modern facilities, and create a better learning environment for students.

• Repairs and Renovation

Schools can use business loans for repairing and maintaining their premises. This includes addressing damage caused by weather conditions or carrying out routine maintenance work.

• Construction of New Buildings

Loans enable schools to construct new classrooms, laboratories, and libraries. This expansion helps accommodate more students and strengthens the school’s infrastructure.

• Technological Advancements

Funds can support the enhancement of internet connectivity, digital classrooms, and modern teaching aids. This creates efficient and interactive learning experiences for students.

• Sports Equipment Facilities

Loans assist schools in investing in advanced sports equipment and upgrading playground facilities. This promotes physical activity and contributes to the overall development of students.

• Hiring Additional Staff

Schools can utilise loan funds to appoint qualified teachers, administrative personnel, and specialised trainers. This improves the teacher-student ratio and raises the standard of education.

You can get a loan for your school through leading banks and financial institutions on this platform at a competitive interest rate. The table below provides details on interest rates, maximum repayment tenure, and loan amounts for loans for private schools. Select the option that best suits your financial requirements.

Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.

To get a school loan through Bajaj Markets with ease, you will need to meet the following eligibility criteria:

• You need to be a citizen of India with a decent credit score of 685 or above

• The school loan applicant needs to be a self-employed individual, or in this case, the owner of the institution

• Self-employed individuals between 24-80 years of age are eligible for a school loan

• The educational institution should have a minimum operational history of 3 years

The list of documents required for a loan for your school is as follows:

• Identity Proof: Personal KYC, PAN card, Aadhaar card

• Residential Address Proof: Rent agreement, driving license, voter’s ID, ration card, passport

• Last 6 months Current Account bank statement

• GST Registration Certificate

• Shops and Establishment Certificate

Follow these simple steps to apply for a school business loan on Bajaj Markets.

1. Online Form Filling

   Begin by filling out the online application form with your personal, business, and employment details. This quick and convenient process initiates your loan request efficiently.

2. Specify Loan Details

   Enter the loan amount required and select your preferred repayment tenure. Provide other relevant loan terms as needed.

3. Approval and Disbursal

   If you meet the eligibility criteria, you’ll receive instant loan approval within minutes. Your submitted documents will be verified. In case any additional paperwork is needed, the team will promptly get in touch. Once verified and approved, the loan amount will be disbursed to your bank account within 24 hours.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.