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Pilot Training Loan
Get financial assistance to pursue your pilot training dreams with Pilot Training Loan. The loan scheme is designed to cover costs such as tuition fees, flight training, and living expenses. Apply now through designated banks and financial institutions.
Objective of the scheme
Due to the financial status of the tribe's assets being not good and also being very weak, it is difficult to take loans from banks and other institutions at high interest rates, so the tribal student can get a good job by getting a pilot training and bring a higher standard of living. And can be full.
Eligibility for Pilot Training Loan
- The specimen/certificate regarding the applicant's belonging to the tribe has to be submitted to the Assistant Commissioner Vigilance.
- Applicant must have passed Matriculation or Higher Secondary or Indian School Certificate or its equivalent examination.
- Should have taken admission in the concerned Commercial Pilot Institute.
- There is no income limit.
Credit limit for Pilot Training Loan
Rs.25 lakh or the cost of training/study whichever is less
Beneficiary Contribution
Beneficiary does not have to pay contribution in this scheme
Rate of interest
4 percent per annum and additional 2.50 percent penal interest for late payment will have to be paid.
Loan repayment period
- The student has to repay the levy in 144 monthly installments after one year from the date of loan. (In which 10 years of principal and then 2 years of interest has to be paid.)
- The applicant will be allowed to repay the loan earlier than the stipulated time.
By whom to send the application
An applicant from a tribal area has to send a proposal with the recommendation of the Wahitdarshree of the Sponsorship of that area. While the non-tribal applicant has to send the proposal to the Corporation through the Assistant Commissioner, Shri Adijati.
Where to apply
Which can be obtained from the office of the Wahitdarshree of the tribal area grant Gujarat Adjati Vikas Corporation or from the website of the corporation https://adijatinigam.gov.in.
FAQs - Pilot Training Loan
Q. Who is eligible for the loan?
Ans. Individuals who wish to pursue pilot training but do not have the financial means to do so
Q. What is the loan amount and repayment period?
Ans. The loan amount varies depending on the institution and course, and the repayment period may be set by the lending bank or institution.
Q. What are the documents required to apply for the loan?
Ans. The documents required for the loan application may include proof of admission to the pilot training institution, proof of income and assets of the applicant, and other relevant documents as determined by the lending bank or institution.
Q. How can I apply for the loan?
Ans. You can apply for the loan through designated banks and financial institutions, by submitting the required documents and fulfilling the necessary criteria as determined by the lender.
Q. Are there any interest rate and margin for this loan?
Ans. The interest rate and margin for the loan will vary depending on the lender and the applicant's creditworthiness.
Q. Does availing this loan guarantee a job as a pilot?
Ans. Availing a loan for pilot training does not guarantee a job as a pilot. A loan is only a financial assistance to cover the cost of training.
Q.Is this loan only for Indian citizens?
Ans. The loan may be available to Indian citizens, but it may also be available to other citizens depending on the policies of the lender.