VIDYA JYOTI EDUCATION LOAN FOR PILOT TRAINING

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 26, 2010 -- Eligibility

Should be an Indian National
Should have secured admission to professional/technical courses in India or abroad

Purpose

Loan is made available for Graduation/Post graduation/Diploma/Computer education in any recognized State/Central Government/University, professional courses including Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, courses like ICWA, CA, CFA, etc., courses conducted by IIM, IISC, XLRI, NIFT etc, courses offered in India by reputed foreign universities/Evening courses of approved institutes, regular degree/ diploma courses like Aeronautical , Pilot training , shipping etc approved by Director General of Civil Aviation/ shipping if the course is pursued in India. Incase the course is pursued abroad, the institute should be recognized by the competent local aviation/ shipping authority.

Quantum of loan

Maximum of Rs. 10.00 lakh for studying in India and Rs. 20.00 lakh for studying abroad.

Rate of Interest

Please click Retail credit interest rates
- Interest to be debited monthly on simple basis during the repayment holiday/moratorium
period.

Margin

For loans upto Rs. 4.00 lakh Nil
For loans above Rs. 4.00 lakh
Studies within India 5%
For studies abroad 15%
Scholarship/assistantship to be included in margin.

Security

For loans upto Rs. 4.00 lakh Co obligation of parents . No security
For loans above Rs. 4.00 lakh and up to Rs.7.50 lakh Co obligation of parents together with collateral security in the form of suitable third party guarantee.

For loans above Rs.7.50 lakh Co obligation of parents together with tangible collateral security .Collateral security in the form of NSC /KVP/ LIC Policy/ Gold/ Shares/Debentures or immovable properties Bank Deposits in the name of student/Parent/Guardian or any other third party with suitable margin. Wherever the land/ building is already mortgaged the unencumbered portion can be taken as security on second charge basis provided it covers the required loan amount. In case the loan is given for the purchase of computer , the computer has to be hypothecated to the bank..

Holiday period

6 months after getting the job or 12 months after completion of the course whichever is earlier.

Repayment

Repay the loan in equal monthly Instalments for a maximum period of 5 - 7 years excluding holiday period.

http://www.pilotsjobinasia.in

http://www.pilotsjobinasia.in/indianoverseasbank

http://www.pilottraininginasia.in

http://www.pilottraininginasia.in/indianoverseasbank


Email : indianoverseasbank@pilottraininginasia.in