The Hindu Business Line : SBI launches loan scheme for schools

STATE Bank of India (SBI) has introduced a new scheme `School Plus' for promotion of computer education and training in approved schools with student strength of 500 and above. The scheme is applicable in Tamil Nadu and Pondicherry.

According to the SBI Chief General Manager (Small and Medium Enterprises), Mr R. Narayanan, the scheme implemented in association with Compugen, offers loans ranging from Rs 2 lakh to Rs 25 lakh for acquiring computers, peripherals, software/costly manuals/books related to training and teaching of the subject.

The loans are repayable in 36 to 84 monthly instalments with interest rates ranging from 9.25 per cent to 11.75 per per cent annum and at a margin of 15 per cent.

In deserving cases, loans above Rs 25 lakh also would be considered.

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