Financial Loan for Training of Commercial Pilot
in Gujarat
Last updated:
Financial Loan for Training of Commercial Pilot in Gujarat
Financial Loan for Training of Commercial Pilot is a government scheme available to eligible residents of Gujarat.
Apply for Financial Loan for Training of Commercial Pilot in Gujarat
Scheme Overview
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 of up to ₹25,00,000 is offered at a concessional interest rate of 4% per annum to the students.....
Eligibility Criteria
The applicant must belong to a Socially and Educationally Backward Class (SEBC).
The applicant must have passed Matriculation, Higher Secondary, Indian School Certificate, or an equivalent examination.
The applicant must meet all academic, technical, and other criteria as specified by the training institution.
The applicant must provide one solvent guarantor.
The applicant or their guardian must own property to mortgage in favor of the government.
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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.
Required Documents
| # | Document |
|---|---|
| 1 | Caste Certificate |
| 2 | School Leaving Certificate |
| 3 | Family Income Certificate, IT Return, Form-16 |
| 4 | Copies of educational qualification certificates (from Class 10 to the last examination) |
| 5 | Admission Consent Letter |
| 6 | Estimate of Training Expenses |
| 7 | 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 |
| 8 | Property documents and valuation report of the trainee's father/guardian |
| 9 | Guarantor: One solvent guarantor must be provided. |
How to Apply in Gujarat
Step 01: The District Office verifies the application and forwards it to the Director, Office of Welfare of Developing Castes.
Online Step 01: The District Office verifies the application and forwards it to the Director, Office of Welfare of Developing Castes.
Step 02: Incomplete applications are returned to the student for corrections.
Online Step 02: Incomplete applications are returned to the student for corrections.
Step 03: Once approved, the guardian must mortgage their property with a registered deed in favor of the government.
Online Step 03: Once approved, the guardian must mortgage their property with a registered deed in favor of the government.
Step 04: After submitting the original registered mortgage deed, the loan amount is disbursed to the student’s bank account.
Online Step 04: After submitting the original registered mortgage deed, the loan amount is disbursed to the student’s bank account.
Common questions in Gujarat
Who can apply for Financial Loan for Training of Commercial Pilot in Gujarat?
Eligible residents of Gujarat who meet the scheme’s overall criteria can apply for Financial Loan for Training of Commercial Pilot. Refer to the eligibility section above for the complete checklist.
What documents are required for Financial Loan for Training of Commercial Pilot in Gujarat?
Applicants in Gujarat typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
The applicant can get a loan of up to ₹25,00,000/- at a concessional interest rate is 4% per annum. <br>