Union Education Scheme for Commercial Pilot Training Programme / Course Nature of course/training programme Commercial Pilot Training / Course Eligibility Should be Indian National. Should have secured admission to the relevant course through admission test. Should have secured admission to the foreign institutions for studies abroad. Duration of the Course 12-24 months Type Of Institution 1. For Course / Training programme in India: Government or recognized Private Institute approved by Director general Of Civil aviation, Government Of India. 2. For course/training programme abroad: The course/ training programme should have been offered by recognized institutions abroad approved by competent authority in that country eg. in U.S.A the Federal Aviation Administration, Govt. Of U.S.A. The licenses issued by such institution should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course/ training abroad, as per directives of Director General Of Civil aviation, Government of India. Quantum Of Loan Nil margin up to Rs.4 lacs. Min.5 % margin for loans above Rs. 4.lacs in India. Min.15% Margin for loans above Rs. 4 lacs for studies abroad. Scholarships/ assistance to be included in Margin. Margin to be brought in year to year whenever disbursement made on pro rata basis. Rate Of Interest Male Female For loans up to Rs. 4 lacs 11.75% 11.25% For Loans above Rs.. 4 lacs and Below 7.5 lacs 12.50% 12.00% For Loan above Rs. 7.5 lacs 12.00% 11.50% (1% concession if interest is serviced during moratorium period) Security No security up to Rs. 4 lacs. Loan above Rs. 4 lacs and upto Rs. 7.50 lacs- personal guarantee to the satisfaction of the bank. For loans above Rs. 7.50 lacs- suitable collateral security/third party guarantee acceptable to the bank. Life insurance policy for a sum not less than the loan to be taken on the life of the student/ applicant and assigned in favor of the BanK.
1. For Course / Training programme in India: Government or recognized Private Institute approved by Director general Of Civil aviation, Government Of India.
2. For course/training programme abroad: The course/ training programme should have been offered by recognized institutions abroad approved by competent authority in that country eg. in U.S.A the Federal Aviation Administration, Govt. Of U.S.A.
The licenses issued by such institution should be convertible into corresponding Indian Licences in case the applicant desires to take up employment in India after completion of course/ training abroad, as per directives of Director General Of Civil aviation, Government of India.
Nil margin up to Rs.4 lacs. Min.5 % margin for loans above Rs. 4.lacs in India. Min.15% Margin for loans above Rs. 4 lacs for studies abroad. Scholarships/ assistance to be included in Margin. Margin to be brought in year to year whenever disbursement made on pro rata basis.
No security up to Rs. 4 lacs. Loan above Rs. 4 lacs and upto Rs. 7.50 lacs- personal guarantee to the satisfaction of the bank. For loans above Rs. 7.50 lacs- suitable collateral security/third party guarantee acceptable to the bank. Life insurance policy for a sum not less than the loan to be taken on the life of the student/ applicant and assigned in favor of the BanK.
