Financial Loan for Training of Commercial Pilot

Description
The "Financial Loan for Training of Commercial Pilot" scheme was launched by the Social Justice and Empowerment Department, Government of Gujarat. The scheme aims to support students from Socially and Educationally Backward Classes SEBC in obtaining Commercial Pilot License CPL training through financial assistance. Under this scheme, a loan is offered at a concessional interest rate to eligible students who meet the educational and institutional requirements for CPL training.

Exclusions
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Benefits
• Loan Amount:
• Up to ₹25,00,000 for Commercial Pilot License training.
• Interest Rate:
• 4% simple interest per annum.
• Penal Interest:
• 2.5% additional interest for late or defaulted payments.
• Repayment Period:
• Principal: To be repaid within 10 years from the date of disbursement.
• Interest: To be paid within 2 years, making the total repayment duration 12 years.

Eligibility Criteria
1. The applicant must belong to a Socially and Educationally Backward Class (SEBC).
2. The applicant must have passed Matriculation, Higher Secondary, Indian School Certificate, or an equivalent examination.
3. The applicant must meet all academic, technical, and other criteria as specified by the training institution.
4. The applicant must provide one solvent guarantor.
5. The applicant or their guardian must own property to mortgage in favor of the government.
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Application Process
Step 1: Step 01: The District Office verifies the application and forwards it to the Director, Office of Welfare of Developing Castes.
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Step 01: The District Office verifies the application and forwards it to the Director, Office of Welfare of Developing Castes.

Step 2: Step 02: Incomplete applications are returned to the student for corrections.
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Step 02: Incomplete applications are returned to the student for corrections.

Step 3: Step 03: Once approved, the guardian must mortgage their property with a registered deed in favor of the government.
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Step 03: Once approved, the guardian must mortgage their property with a registered deed in favor of the government.

Step 4: Step 04: After submitting the original registered mortgage deed, the loan amount is disbursed to the student’s bank account.
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Step 04: After submitting the original registered mortgage deed, the loan amount is disbursed to the student’s bank account.

Required Documents
• Caste Certificate
• School Leaving Certificate
• Family Income Certificate, IT Return, Form-16
• Copies of educational qualification certificates (from Class 10 to the last examination)
• Admission Consent Letter
• Estimate of Training Expenses
• If training is abroad, a copy of the trainee's passport, a copy of the visa for that country, and a copy of the air ticket
• Property documents and valuation report of the trainee's father/guardian
• Guarantor: One solvent guarantor must be provided.

Frequently Asked Questions
Q: What is the maximum loan amount I can get under this scheme?
A: The applicant can get a loan of up to ₹25,00,000/- at a concessional interest rate is 4% per annum.
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Q: Is there any penalty for late repayment?
A: Yes, a penal interest of 2.5% is charged on defaults.
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Q: What is the duration for loan repayment?
A: Principal must be repaid within 10 years and interest within 2 years.
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Q: Who is eligible to apply for this scheme?
A: Students from Socially and Educationally Backward Classes with required educational qualifications.
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Q: Is there any income limit to apply?
A: No, there is no income limit.
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Q: Can the loan be used for pilot training abroad?
A: Yes, if you have valid admission and documents for overseas training.
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Q: What documents are needed for applying?
A: Caste certificate, education certificates, income proof, property documents, and admission letter, among others.
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Q: Do I need a guarantor?
A: Yes, one solvent guarantor is mandatory.
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Q: Is mortgage of property necessary?
A: Yes, either the guardian&#39;s or the guarantor&#39;s property must be mortgaged.
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Q: How do I apply for the scheme?
A: Apply online at https://esamajkalyan.gujarat.gov.in, upload documents, and submit the form.
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Q: Can I apply offline?
A: No, only online applications are accepted.
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Q: What if my application is incomplete?
A: It will be returned to you for necessary corrections.
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Q: Who verifies and approves the loan?
A: The District Office and the Director, Office of Welfare of Developing Castes.
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Q: How will the loan amount be disbursed?
A: After mortgage registration, the amount is transferred directly to the student’s bank account.
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