JS School Development Finance
JS School Development Finance, offers educational institutions with financing of up to Rs. 50 million to fulfil all their financial and non-financial needs. Schools with minimum monthly turnover of Rs. 1 million, and with experience of over 3 years are eligible to apply for this term loan facility.
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Mark-up Rate will be based on the experience of the institution and will be calculated as per the following criteria:
| School Operational Experience | Floating Rate (Quarterly Payment)* | Floating Rate (Monthly Payment)* |
|---|---|---|
| Between 3 and 5 years | 3-Month KIBOR + 8% | 3-Month KIBOR + 8% |
| Between 5 and 7 years | 1-Year KIBOR + 6% | 1-Year KIBOR + 6% |
| More than 7 years | 3-Month KIBOR + 4% | 1-Year KIBOR + 4% |
Eligibility Criteria:
Individuals owning an educational institution are eligible to avail this product once they fulfill the basic criteria for the educational institute and the owner of the institute.
Required Document Checklist:
- Audited Accounts (Financial Statements) / Wealth Tax Return, as per SBP regulations
- Supporting Documents / Undertaking to be obtained for proper utilization of loan
- Personal Guarantee of the owners/directors (only sponsor directors in case of limited companies)
- Two (2) recent Passport size Photographs
- Copy of CNIC / NICOP
- Filled Request Application Form
- Processing Fee Deposit Slip
- Active rent agreement (in case of rented premises)
- Any other requirement of the Bank