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Old 1st Oct 2008, 15:26
  #35 (permalink)  
Mikee87
 
Join Date: Oct 2008
Location: Qatar
Age: 36
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BDB loan

In response to the person who asked about BDB loan repayments.

The BDB loan is independent of Gulf Air and Ayla Aviation. The loan is simply a glorified remodel of their existing educational loan. It's open to Bahraini nationals who wish to take up flight training at a flight training organization of their choice (with some conditions).

The loan is relatively risk free to BDB as the vast majority of applicants need to nominate a guarantor or a 'sponsor' with a sizable income to pay off their debts should the student not be able to make repayments on time.

This is usually an immediate family member in most cases. BDB also ask for a ridiculous number of post-dated cheques from your guarantor to be issued to them as a safeguard - I believe they ask for 4 years worth of cheques.. This means that once your repayment 'grace' period of 1 year comes to an end, BDB will automatically start cashing in those cheques on a monthly basis.

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