Education Loan for Pilot Training at the Lowest interest rates
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Introduction
Aviation is the profession that offers you the chance to fly in the air if you choose it as your job. You must take pilot training to become a pilot in India. Aspiring students can enrol in a variety of air aviation and pilot training programmes, including Commercial Pilot Training and Civil Aviation Courses for Non-Military Aviation. Hundreds of passengers' lives will be in your hands as a commercial pilot, which comes with a lot of responsibility. Therefore, if you want to select a job as a pilot, you need to obtain the appropriate schooling. However, higher education is now expensive, which is why there is an education loan for pilot training that helps you fund your education. Few banks, notably government banks, offer student loans for international aviation courses. If you don't apply for a loan through the proper channel, it might be difficult and frustrating to find a suitable lender who offers one for an aviation study overseas. Learn more about the same in the article below.
Education Loan For Pilot Training Eligibility
Students must evaluate several factors before signing the loan agreement. The eligibility criteria for a pilot education loan are as follows -
- Candidate must be an Indian citizen or resident
- Candidate must have obtained a place in an aviation programme at one of the participating universities
- Some banks have age limitations of 35 years, so it is best to double-check with the financial institution
- Additionally, criteria influencing the bank's choice to provide an education loan for pilot courses might include academic merit, the university's reputation, the collateral given, and the applicant's financial background
Expenses Covered Under Education Loan
The best aspect of taking out pilot student loans with UniCreds is that students may obtain up to 100% financing, which means that the loan will cover all or most of their expenditures. The following are the expenses that students might anticipate an education loan for pilot training to cover -
- Tuition Costs
- Travel & Transport including the tickets
- Accommodation & Rental expenses
- University fees & additional course costs
- Food expenditures
- Living expenses
- Laptop
- Other research, thesis, and project-work-related expenses
- Any other expense required for hotel management
Top Education Loan Providers In India For Pilot Training
Following are the top education loan providers offering Indian students with education loans for pilot training -
- Avanse
- IDBI Bank
- InCred
- Axis Bank
- ICICI Bank
- HDFC Credila
- Bank of Baroda
Education Loan For Pilot Training Financing And Collateral Requirement
It takes one easily 80 to 90 lakhs to pursue a pilot training programme. Students must look for secured loans in this case. It is regarded as one of the finest ways to pay for an aviation school overseas because secured education loans are available and may be obtained for up to Rs. 1.5 Cr. based on the value of collateral, which meets the financial requirement for an aviation degree.
Steps To Apply For An Education Loan For Pilot Training
Unlike the traditional, time-consuming process of applying for an education loan for pilot training, UniCreds streamlines the application process and makes it easy for students at every level - from application to disbursement. The process for applying for a hotel management education loan is as follows -
- After reviewing the loan eligibility requirements, students must choose the bank they want to proceed with for their loan application or contact one of our specialist loan consultants
- Following that, candidates can complete their loan application form online
- The UniCreds counsellors, additionally recommend a personalized list of documents/paperwork necessary for the applicant so that he/she may attach the same to the application
- Following the attachment of the documents and submission of the application form, the banks will analyse and assess it and then approve and disburse the loan amount
Repayment Of Education Loan For Pilot Training
Ideally, students should start paying back their education loan for pilot training one year after receiving their degree or six months after landing a job, whichever comes first. The term "moratorium period" refers to this period of rest. With a 12-month moratorium period, you have a maximum of 15 years to repay the borrowed loan amount. As soon as the course is through, the moratorium will begin.
Frequently Asked Questions
