Multiple banks. Different interest rates. Call it a "conflict of interest".

    State Bank of Bikaner and Jaipur Career Loan

    Choosing a right career path can be daunting and challenging, with financial constraints impacting the journey of an aspirant. State Bank of Bikaner and Jaipur has been catering to the needs of its clients since 1943 and offers a career loan designed to aid and benefit youngsters, providing them an opportunity to chase their dreams.

    For what purpose can a SBBJ Career Loan be used?

    A SBBJ (State Bank of Bikaner and Jaipur) Career Loan can be used to pay the fees for courses like pilot coaching, airhostess training and sports education. It can be used to develop a skill towards a particular course.

    Who can avail a SBBJ Career Loan?

    Students who wish to pursue a career in the sky can opt for this loan. It is open to those who have enrolled in a pilot training course or an airhostess training centre, either in India or abroad. Sportspersons who wish to pursue diploma courses recognized by SAI can also avail a SBBJ Career Loan.

    What is the loan amount one can avail under this scheme?

    Students/trainees can avail loans up to Rs 20 lakh under the SBBJ Career Loan scheme.

    What are the eligibility criteria one needs to satisfy to avail a SBBJ Career Loan?

    Individuals who wish to avail a SBBJ Career Loan need to satisfy the following eligibility criteria.

    • Indian citizen

      The student should be an Indian citizen

    • Recognized institute

      The institute in which one wishes to pursue a course should be recognized by the Ministry of Civil Aviation

    • Recognized course

      Individuals taking the loan under sports quota should pursue courses recognised by Sports Authority of India only.

    Is one expected to provide security/collateral to avail this loan?

    Yes, a collateral in the shape of a property (house/land/flat) or a government security/Bank bonds should be provided in order to avail a SBBJ Career Loan.

    What is the interest rate for SBBJ Career Loan?

    The interest rate charged by SBBJ on its Career Loan depends on the security offered by a borrower. Individuals who provide land or buildings as collateral can avail this loan at an interest of 12.25% per annum while those who provide government securities are required to pay 10.50% per annum. A rebate of 0.50% can be availed if the interest is paid during the course.

    Note: Interest rates charged by SBBJ on its career loan are at their discretion and subject to change. The current rates mentioned are for November 2015.

    What is the repayment tenure for this loan?

    Individuals can repay this loan through flexible EMIs with a repayment tenure of 36 months, with the tenure starting one year after the course is over.

    What are the penal charges applicable on this loan?

    There are no penal charges on prepayment of this loan.

    How can one apply for a SBBJ Career Loan?

    Individuals who wish to apply for a SBBJ Career Loan can do so by visiting a SBBJ branch and filling in the necessary forms. One will have to provide their basic information like name, address, ID proof, etc. in order to avail this loan.

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