Loan For Commercial Pilot Training

About This Scheme

The "Loan For Commercial Pilot Training" scheme was launched by the Tribal Development Department, Government of Gujarat. The scheme aims to support Scheduled Tribe (ST) students in pursuing professional pilot training by providing affordable loans. Under this scheme, tribal students can avail a loan at a concessional interest rate, enabling them to secure high-quality training and good employment opportunities.

Eligibility

1. The applicant must be a resident of Gujarat. 1. The applicant must be a student. 1. The applicant must belong to the Scheduled Tribe (ST) category. 1. The applicant must have passed Matriculation, Higher Secondary, Indian School Certificate, or an equivalent examination. 1. The applicant must have secured admission to a recognized commercial pilot training institute. 1. The applicant should have passed Higher Secondary Certificate (HSC).

Benefits

Monetary Benefit - Loan of up to ₹25,00,000 or the actual cost of training, whichever is lower. Interest Rate - 4% per annum. Penalty Interest - 2.5% per annum on delayed repayments. Beneficiary Contribution - No contribution is required from the applicant. Repayment Terms - Repayment begins 1 year after the loan disbursement date. - Repayment period is 144 monthly installments (12 years). - Includes 10 years for principal repayment and 2 years for interest repayment. - Early repayment is permitted.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.