Becoming a commercial pilot is a dream for many students, but pilot training is very expensive. To support talented students from socially and educationally backward communities, the government provides financial assistance through the Commercial Pilot Training Loan Scheme. Under this scheme, eligible students can receive a loan of up to ₹25 lakh to complete Commercial Pilot License (CPL) training in India or abroad.
Objective of the Scheme
The main objective of this scheme is to help students who want to become commercial pilots but cannot afford the high cost of training. The government provides financial support so that deserving students can build a successful career in the aviation sector.
Loan Amount and Interest Rate
Under this scheme, students can get a loan up to ₹25,00,000 for pilot training. The interest rate is only 4 percent per year as simple interest. If the borrower fails to repay the loan or interest on time, a penalty interest of 2.5 percent may be charged.
Eligibility Criteria
Applicants must have passed matriculation, higher secondary, or an equivalent examination. The candidate must meet the educational and technical requirements set by the training institute. Students must also obtain required certificates such as medical fitness certificates and other documents required for pilot training.
Training in India or Abroad
Students can take pilot training in India or abroad. If the training is taken abroad, the training institute must be recognized by the government of that country. After completing training abroad, the commercial pilot license must be validated in India through the required legal process.
Required Documents
Applicants must submit several important documents, including Aadhaar card, caste certificate, school leaving certificate, family income certificate, residence proof, bank passbook copy or cancelled cheque, and copies of educational qualification certificates from class 10 onwards. If the training is abroad, passport and visa copies must also be submitted. Property documents of the parent or guarantor along with a valuation report are also required.
Guarantor and Mortgage Rules
One financially strong guarantor must be provided for the loan. After approval of the loan, the property of the parent or guarantor must be registered as a mortgage in favor of the government.
Loan Repayment Process
Repayment of the loan begins one year after the loan amount is disbursed. The principal amount must be repaid within ten years, and the interest amount within two years. In total, the borrower gets twelve years to repay the complete loan amount with interest.
How to Apply Online ?
Applicants must visit the official website esamajkalyan.gujarat.gov.in and fill out the online application form. After uploading the required documents and submitting the form, the applicant must take a printout of the application and submit two copies along with documents to the respective district office. After verification and approval, the loan amount will be transferred to the student’s bank account.
Conclusion
The Commercial Pilot Training Loan Scheme is a great opportunity for students who want to become professional pilots but face financial difficulties. With a loan of up to ₹25 lakh at a low interest rate, students can complete their aviation training and achieve their dream of becoming a commercial pilot.