If you want to get information about the State Bank of India Education Loans for Pilot Training & Air Hostess Training Courses in India & Abroad, then here I am telling you about it, as you want.

Features of SBI Career Loans
To whom the loan is offered
The State Bank of India 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 State Bank of India Career Loan is a term loan, with the applicant and parent or guardian or spouse as co-borrowers.

Loan amount
The State Bank of India Career Loan is for maximum of Rs.3.00 lac.

Processing fee
The State Bank of India Career Loan processing fee is 0.51% of the loan amount.

Loan security and margin
Security for a State Bank of India 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 State Bank of India Career Loan.


Interest rates
As of 8th June, 2015, the base rate is 09.70%.

If you pay the interest during the course period, then State Bank of India will provide a rebate of 0.50% but this will on ly 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 State Bank of India at the time of applying for the loan.



Repayment terms
The repayment of the loan involves repayment in 36 months in Equated Monthly Instalments 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 State Bank of India Career Loan.

Age eligibility criteria
Applicant must be minimum 18 years of age.
Age of the co-borrower can be maximum 60 years.

Contact Phone Number for State Bank of India career loans
1800112211
(Toll-free from BSNL/MTNL)
Or 1800 425 3800 (toll-free) or 080-26599990