SBI Career Loan | Interest Rates | Eligibility | Documents | Information

SBI Career Loan provides you a loan scheme for pursuing Airhostess Training Course 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.

Do you want 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 SBI Bank.

Name of the Scheme: SBI Career Loan

Eligibility

You are eligible if you are willing to undertake a course for 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 Installments 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

Sl.No. Type of Security Margin
1. Land/Building 20%
2. Govt.Securities/Public Sector Bonds, NSCs, KVPs,Bank’s Deposits, RBI Relief Bonds etc. 10% on the Face value of the Security
3. LIC Policies 10% margin on Surrender value of LIC Policies

SBI Career Loan interest rates –

Type of Security Rate of Interest*
Land/Building 4.50% above Base Rate, currently 14.50% p.a.
Bank’s TDRs/STDRs 1.00% above the rate of interest payable on deposits
Govt. Securities/Public Sector Bonds/NSCs/ KVPs/RBI Relief Bonds, LIC Policy 4.25% above Base Rate , currently 14.25% p.a.

(In case interest is paid during the course period a rebate of 0.50% will be admissible, only during the moratorium period)

Source: State Bank of India Website

 

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