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SBI Career Loan |
Do you want to opt for training to acquire skills needed to join Commercial Pilot training courses or Airhostess Training courses in India and abroad, from institutes recognized by the Ministry of Civil Aviation/DGCA, then you can avail SBI Career Loan from our Bank.
We have a loan scheme for this purpose, in the form of Personal Loan secured by Mortgage of Immovable Property/Govt.Securities, Public Sector Bonds,NSCs/KVPs/RBI Relief Bonds/Bank’s TDR/LIC Policies etc.
Eligibility
You are eligible if you are willing to undertake a course for joining Commercial Pilot training courses and Airhostess Training courses in India and abroad from institutes recognized by the Ministry of Civil Aviation/DGCA.
Age
(i) Applicant – Minimum 18 years
(ii) Co-borrower – Maximum 60 years
Quantum of loan
Maximum of Rs.20.00 lacks
Nature of facility
Term Loans with the applicant and parent/guardian/spouse as co-borrowers.
Repayment
36 months in Equated Monthly Installments with maximum moratorium one year after completion of the course for start of repayment. No penal charges would be levied in case of early repayment of loan.
Processing fee
0.50% of the loan amount.
Margin
| Type of Security |
Margin |
| Land/Building |
20% |
| Govt.Securities/Public Sector Bonds, NSCs, KVPs,Bank’s Deposits, RBI Relief Bonds etc. |
10% on the Face value of the Security |
| LIC Policies |
10% margin on Surrender value of LIC Policies |
Interest
| Type of Security |
Rate of Interest |
| Land/Building |
0.25% above SBAR i.e. 13.00% p.a. |
| Bank’s TDRs/STDRs |
1.00% above the rate of interest payable on deposits |
| Govt.Securities/Public Sector Bonds/NSCs/ KVPs/RBI Relief Bonds,LIC Policy |
SBAR – 12.75% p.a. |
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