TAA has a tie-up with Centurion Bank of Punjab for education
loan. Apart from the banks listed below there are several
education loan schemes that exist.
Loans available at other Indian Banks also
Bank of India
Bank of Rajasthan
Mysore Bank
Central Bank
Bank of Maharashtra
Syndicate Bank
Dena Bank
Indian Overseas Bank
Canara Bank
Punjab National Bank
HDFC Educational Loans
Punjab & Sind Bank
State Bank of Hyderabad
UCO Bank, State Bank of Indore
State Bank of India
IDBI Bank
State Bank of Mysore
Allahabad Bank
Vijaya Bank
United Western Bank
Andhra Bank
Catholic Syrian Bank
Vysya Bank
Karnataka Bank
Indian Bank
State Bank of India
Saurashtra Bank of Baroda
Federal Bank
Limited United Bank of India
Development Credit Bank Limited
Oriental Bank of Commerce
Bank Faq
Q: What is the total amount of loan that I will get? Will the loan include my fees for
coaching & flying both?
Ans: The total amount of loan would be as per the net expenses that you undertake on your training . All related activities ground subjects coaching, flying training , travel etc are included. Thus the loan amount can vary anywhere between 15 to 20 lac depending on your actual expenses.
Q: Will the loan be given to me or directly to the training institution?
Ans: The loan will be allocated directly in the name of the training institute. The transfer would happen in the form of a demand draft.
Q: Do I have to give a security? If yes, of what kind?
Ans: If you are taking a loan of an amount less than 4 lac the security may not be required
For all loans above 4 lacs security is definitely required. The security can be any of the following .
Ans: Not more than 50% of the assessed value of
the property and not more than 80% of the value
of transferable securities will be allocated towards
the loan.
Q: My relative / friend has a property of
his own. Can I get as loan on that?
Ans: You can get a loan . In that case the person
who owns the property will have to act as a guarantor.
All bank rules will apply for that approval . The
repayment of the loan will be repaid by the student
himself.
Q: What will be the mode of repayment?
Ans: The repayment would be done in the form of
monthly instalments.
Q: After what time would I have to start
making the repayment?
Ans: The repayment will have to be done 3 years
after the approval of the loan.
Q: What is the rate of interest?
Ans: The bank will charge the rate of interest @12.5%
on reducing amount.
Q: What is the loan repayment period?
Ans: The loan repayment would be 7 years. The student
shall have to repay the loan in form of equal monthly
installments.
Q: Suppose I don't get a job for a few months
after getting CPL. What would be the procedure of
repaying the loan.
Ans: Your parents are co-borrowers of the loan and
are liable to repay the loan in case of your not
being in a healthy financial position.
Q: How would the communication between myself
bank and flying training institution happen?
Ans: As mentioned earlier all payments would be
made in the name of the institution,when the details
of an institution regarding the same would be sent
to the concerned bank. This institution would not
only include the approx. cost of the students course
but also a verification of the CFI's authorized
signatory's sign. All further payments from the
bank would be made to the training institute itself
after a confirmation from the training institute
regarding the students actual expenses incurred.
The bill will have to be accompanied by a request
from the students side of a release of the payment.
Q: Will there be any extra charges for assessing
property onside Delhi?
Ans: The banks assessor will assess an outstation
property with an additional charge of Rs. 5000.00
approx.
Q: What are the document requirements?
Ans: Attested photocopies of the following documents.
1. Proof of age 2. Proof of address 3. Parents employment details including
form 16/ITR 4. Security details. 5. Admission Letter
