Wednesday, November 19, 2008

SBI - Career Loan

CAREER LOAN

Do you want to opt for training to acquire skills needed to join Commercial Pilot training courses or Airhostess Training courses in India and abroad, from institutes recognized by the Ministry of Civil Aviation/DGCA, then you can avail SBI Career Loan from our Bank.

We have a loan scheme for this purpose, in the form of Personal Loan secured by Mortgage of Immovable Property/Govt.Securities, Public Sector Bonds,NSCs/KVPs/RBI Relief Bonds/Bank’s TDR/LIC Policies etc.


Name of the Scheme : SBI Career Loan

Eligibility :

You are eligible if you are willing to undertake a course for joining Commercial Pilot training coursesand Airhostess Training courses in India and abroad from institutes recognized by the Ministry of Civil Aviation/DGCA.

Age :

(i) Applicant – Minimum 18 years

(ii) Co-borrower – Maximum 60 years


Quantum of loan :

Maximum of Rs.20.00 lacs

Nature of facility :

Term Loans with the applicant and parent/guardian/spouse as co-borrowers

Repayment :

36 months in Equated Monthly Instalments with maximum moratorium one year after completion of the course for start of repayment. No penal charges would be levied in case of early repayment of loan.

Processing fee : 0.50% of the loan amount

Margin

Type of Security : Land/Building Margin :20%

Type of Security : Govt.Securities/Public Sector Bonds, NSCs, KVPs,Bank’s Deposits, RBI Relief Bonds etc. Margin : 10% on the Face value of the Security.

Type of Security : LIC Policies Margin: 10% margin on Surrender value of LIC Policies

Interest :

Type of Security : Land/Building Rate of Interest :0.25% above SBAR i.e. 13.25% p.a..

Type of Security : Bank’s TDRs/STDRs Rate of Interest : 1.00% above the rate of interest payable on deposits.

Type of Security :Govt.Securities/Public Sector Bonds/NSCs/ KVPs/RBI Relief Bonds,LIC Policy Rate of Interest : SBAR – 13.00% p.a.



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1 comment:

Unknown said...

Higher education loans are for graduate student and post graduate student programs. This is easy and candidate is not requested to place any guarantee as security against the obtained amount.

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