Credit Line (GECL)

GECL Communication

Restart your business during the COVID-19 crisis.
Avail the GECL facility to augment your net working capital and meet operational liabilities.

  • All borrower accounts (Eligible Educational Institutes) with combined outstanding loans of up to Rs. 25 Crores as on 29.2.2020, and annual turnover of up to Rs. 100 Crores in the previous financial year (2019-20) are eligible for the Scheme.
  • Total Outstanding Amount would comprise of the on-balance sheet exposure. Off-balance sheet and non-fund-based exposures will be excluded.
  • Loans provided to Eligible Educational Institutes constituted as Proprietorship, Partnership, registered company, societies, trusts and Limited Liability Partnerships (LLPs) shall be eligible under the Scheme.
  • Eligible Educational Institutes would include loans covered under Pradhan Mantri Mudra Yojana extended on or before 29.2.2020, and reported on the MUDRA portal.
  • Loans provided in individual capacity are not covered under the Scheme.
  • For loans having co-applicant, only those existing loans where entity is the primary co-applicant are covered under the Scheme for additional emergency funding.
  • The Scheme is valid for existing customers on the books of the Member of Lending Institutions (“MLIs”) as on 29th February, 2020.
  • Borrower accounts should be less than or equal to 60 days past due as on 29th February, 2020 in order to be eligible under the Scheme. Borrower accounts which had NPA or SMA-2 status, as on 29th February, 2020 shall not be eligible under the Scheme.
  • In order to be eligible, the borrower must be GST registered in all cases where such registration is mandatory. This condition will not apply to borrowers that are not required to obtain GST registration .
  • To be eligible under the Scheme it is not necessary that the existing loans of the Borrowers should be covered under the ECLGS of NCGTC.
How to Apply
  • Write to us at with the subject line GECL Registration - Loan Account Number
  • Alternatively, you can contact your Relationship Manager to avail the scheme.
  • List of Documents Required
    • Duly filled Application Form
    • Valid KYCs for Primary Applicant & Co-applicant
    • Trust Deed & Trust Regn Certificate (IN case of Partnership firm - Partnership Deed & in case of Company - MoA & AoA)
    • Latest Trust/Society Members List
    • Primary Bank Statement of Entity from Sept'19 to June'20
    • Latest ITR of Entity (if available)
    • Number of Students for 2019-20 & 2020-21 & Fee Structure
    • Running Loan Details on Letter Head
    • Audited Financials of FY 2019-20 / if not finalised undertaking letter mentioning FY 2019-20 Gross Receipts / Turnover and Terms loans & working capital facility as on 29 Feb 2020.
    • Udhyog Aadhaar No./ MSME Certificate , if available.
Credit Limit
  • Credit limit under GECL would be up to 20% of the borrower’s total outstanding credit up to Rs.25 crores, excluding off-balance sheet and non-fund-based exposures, as on 29th February, 2020, subject to the borrower meeting all the eligibility criteria. Subject to maximum credit limit of Rs.5 Crores.
Interest Rate
  • 14.00% p.a.
  • Additional term loan facility granted hereunder (GECL) shall rank second charge with the existing credit facilities in terms of cash flows (including repayments) and security. Charge on the assets financed under GECL Scheme to be created as prescribed by NCGTC or under ECLG Scheme.
  • No additional collateral required for this additional funding under GECL.
  • Maximum 4 years from the date of disbursement
  • Moratorium period of one year on the principal amount. Interest shall, however, be payable during the moratorium period.
  • The principal shall be repaid in 36 equal installments after the moratorium period is over.
  • Interest to be serviced as and when applied.
  • Pre-payment of facilities to be allowed at no additional charge to the borrower
Validity of Scheme
  • The scheme is valid till 31.10.2020 or till an amount of Rs 3 lakhs Crore (threshold limit stipulated in the scheme) is sanctioned under the GECL Scheme by all Member Lending Institutions (Banks/NBFCs (as notified by NCGTC), whichever is earlier.
Processing fee/ Pre-payment penalty
  • NIL
Guarantee Fee payable to credit guarantee trust
  • NIL
Extent of guarantee Coverage
  • National Credit Guarantee Trustee Company Ltd (NCGTC) shall provide 100% Guarantee coverage on the outstanding amount for the credit facility provided under the scheme as on the date of NPA.
NCGTC Guidelines