The Hindu Business Line : SBI launches `School Plus'

CHENNAI: In the wake of the tragic fire accident at Kumbakonam, State Bank of India has come out with a new scheme `School Plus' to extend financial assistance to schools to repair, renovate and construct buildings, buy furniture, computers, laboratory equipment, books etc.

It would be available at interest rates of 9.25 per cent for loans up to Rs 2 lakh, 10.25 per cent for loans between Rs 2 lakh and Rs 5 lakh and 11 per cent for loans between Rs 5 lakh and Rs 25 lakh. For repayments which will extend beyond three years, the rate would be 10.75 per cent for Rs 2 lakh to Rs 5-lakh slab and 11.75 per cent for Rs 5 lakh to Rs 25 lakh-slab.

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