Education and Career Forum

Sir, I want to do Pilot course from abroad so, I need education loan for it. Can I get education loan in security of Agricultural land? What are the instructions for land mortgage?

Yes, it is possible to get an education loan by mortgaging agricultural land for pilot training in abroad. However, the eligibility and terms may vary from bank to bank.

To mortgage agricultural land for an education loan, the following instructions need to be followed:

• The agricultural land must be in the name of the loan applicant or any of his/her family members.
• The land must have clear titles and should be free of any encumbrances.
• The land should be valued by a government-approved valuer.
• The loan amount will be decided based on the value of the land and the repayment capacity of the loan applicant.
• The mortgage will be created by depositing the original title deed of the land with the bank.

Before mortgaging agricultural land, it is advisable to check the terms and conditions of the education loan scheme offered by the bank to ensure that it is suitable for your needs. Also, it is important to evaluate the risks involved in case of non-repayment of the loan.