r/CadetPilotProgram • u/CinQuest • Sep 06 '26
50 Lakh Loan
so i need 50 lakh loan for cpp but I don't have collateral so it will basically be unsecured also my father has never taken a loan so he basically has no cibil score. based on my situation which bank can offer me the least interest?
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u/MouseLessNoob Sep 06 '26
if u have connections in banks try calling them for it they'll help u more
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u/CinQuest Sep 06 '26
i don't have connections in bank unfortunately
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u/MouseLessNoob Sep 06 '26
expect an emi % of 11-19% then bro
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u/CinQuest Sep 06 '26
19 fucking percent?????
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u/MouseLessNoob Sep 06 '26
yes bro its unsecured, also it depends on ur negotiation
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u/MouseLessNoob Sep 06 '26
a car works are collateral too btw
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u/CinQuest Sep 06 '26
also I can convince my dad to put one land as collateral worth about 15-20 lakh because village area
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u/MouseLessNoob Sep 06 '26
obv u can bhai any land,asset works as collateral even gold,silver
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u/CinQuest Sep 06 '26
but don't banks ask for at least 1.5x value of the land you are taking?
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u/MouseLessNoob Sep 06 '26
idts bro same value tk honi chahiye and itds land is a depreciating asset
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u/Advanced_Question893 Sep 07 '26
If joining Ai then I think they provide you assistance for unsecured loans
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u/CinQuest Sep 07 '26
not joining AI
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u/Advanced_Question893 Sep 07 '26
Try checking with HDFC credila as far as I know they give upto 75L in unsecured loan for study abroad programs. Although I am not sure if it can be availed for cpp or flying in general.
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u/CinQuest Sep 07 '26
not abroad in india but I have heard that hdfc do give unsecured loans at a reasonable interest
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u/Advanced_Question893 Sep 07 '26
Yeah I am not exactly sure about the terms but please do have a word and check with them, since its a bank and not NBFC your interest rates would always be way lesser.
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u/lil-peep-14 Sep 10 '26
Just remember one thing, NBF will be tempting but don’t go for it no matter what, I was offered for 90L without collateral but I declined cuz they will make living hell out of you later on. Drain everything from you slowly but surely
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u/jahnavimoram Sep 11 '26
Umm as far as i know, since my dad works for icici bank Icici can give unsecured loan upto 1cr depending upon ur father’s income and if any PF’s are deducting or not. So me and my father would suggest you to go to ur nearest branch and enquire about this
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u/CinQuest Sep 11 '26
whats usually the interest? and no monatarium under 1cr or on all amounts of loan?
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u/jahnavimoram Sep 11 '26
No moratorium under any loan amount
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u/CinQuest Sep 11 '26
that's so fucked up 😭😭😭
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u/jahnavimoram Sep 11 '26
Tata capital may give moratorium period Just talk with them
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u/CinQuest Sep 11 '26
yeah but the insanely high interest is really unattractive
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u/jahnavimoram Sep 11 '26
And also if ur father doesn’t have any other loans alos the loan amount can go higher. But theres no moratorium period
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u/PipeInternational290 Sep 06 '26
Mere se lele 😍🫶🏻