About Education Loan
Education Loan can be availed for Higher education of wards / spouse of AF Personnel. Wef Dec 20, Education Loan repayment period can be extended beyond superannuation / present RE upto 60 months (subject to max 180 instalments).
| Paid To | Serving Air Warriors |
| Admissible Amount | Rs.30 Lakh |
| Service Conditions | No Minimum service |
| Rate of Interest | Officers/Airmen - 7% pa, NC(E) - 5%pa |
Air warriors having service between 03 to 05 years are entitled to half the loan amount admissible in max 90 Instalments.
Payments are made directly in the Salary A/c as maintained by AFCAO.
The interst on the loan amount is charged from the month of payment.
Additional Subscription to IAFBA on Welfare Loan is mandatory wef 01 Oct 08 and premium as applicable is deucted from the loan amount itself.
Joint Education loan can be availed for child by husband & wife serving in IAF.
Download Application Form from Download Forms:
Individual to fill On-line Application Form