SBI Education Loans for Pilot Training & Air Hostess Training Courses in India & Abroad
Majority of the banks give educational loans to students which provide financial support for their education. The interest rate for educational loans are very low. This article gives complete information on State Bank of India career loans for Pilot Training Courses and for Air Hostess Training Courses in India & Abroad.
In addition to SBI Education Loans for Studying in India & abroad and SBI Education Loans for Scholars, SBI provides loans specifically for those who wish to pursue a commercial pilot training course or an air-hostess training course in India and abroad. These are different from the SBI education loans – they are called SBI Career Loans.
Now, IndiaStudyChannel offers admission guidance services for overseas education. Learn more about our study abroad programs for Indian students.Features of SBI Career Loans
To whom the loan is offered
The SBI Career loans are loans for those who wish to take up commercial pilot training courses or air-hostess training courses in India and abroad. However, the institutes from which these courses are conducted must be recognized by the Ministry of Civil Aviation/Directorate General of Civil Aviation (DGCA), Govt. of India.
Type of loan
The SBI Career Loan is a term loan, with the applicant and parent or guardian or spouse as co-borrowers.Loan amount
The SBI Career Loan is for maximum of Rs.3.00 lacs.Processing fee
The SBI Career Loan processing fee is 0.51% of the loan amount.Loan security and margin
Security for a SBI Career Loan can be provided through mortgage of immovable property or Government securities, Public Sector bonds, National Savings Certificates/KVPs/RBI Relief Bonds, Bank's TDRs, LIC Policies, etc. The margin will vary depending of the type of security provided for the SBI Career Loan.
Here's a table for ready reference:
Interest rates
As of 8th June, 2015, the base rate is 09.70%. If you pay the interest during the course period, then SBI will provide a rebate of 0.50% but this will only be during the moratorium period. Note also that the interest rates as provided below are subject to change without prior notice. So it is advisable to check with SBI at the time of applying for the loan. 
Repayment terms
The repayment of the loan involves repayment in 36 months in Equated Monthly Instalments (EMIs) with maximum moratorium 1year after completion of the course for start of repayment. There will be no penal charges in case of an early repayment of the SBI Career Loan. Age eligibility criteria
How to apply
You can get the SBI Career Loan application form from the SBI branch in your area or from the SBI official website.
Contact Phone Number for SBI career loans 1800112211 (Toll-free from BSNL/MTNL) or 1800 425 3800 (toll-free) or 080-26599990. You can access these numbers from any landline phone or mobile phone in India.
Important Note: The author of this article is giving general information on SBI career loans and not endorsing them in any way. Readers are advised to check the official website of SBI and confirm with SBI officials about the various aspects of the loan before applying, and not rely solely on the information given in this article. The tables are also created by the author based on details provided at the SBI website as on 1st August, 2015.
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When anybody takes a career loan for aircraft maintenance engineering course, then how much time he gets to repay the loan after the completion of the course if he had taken from State Bank of India?