COMPARE : EDUCATION LOANS
Oriental Bank of Commerce Education Loan
Introduction
Oriental bank of commerce gives loan to students seeking to take up higher education after school but do not have funds. Indian national not above 45 years are eligible for loan. Students who have applied for commercial pilot course need to deposit additional security like LIC policy is to be obtained, in case the collateral security equivalent to loan amount condition applies, in such condition obtaining of LIC policy is waived
Highlights
  Study Abroad Study India
Course Graduation Graduation
Loan Type Term Loan Term Loan
Loan Purpose Admission fee / Monthly fee / Examination fee, Books, equipments, Air fare expenses of hostel, expenses for study tours, project work, thesis.
1. Graduation

For job-oriented professional/technical courses offered by reputed universities.

2. Post Graduation

Courses like MCA, MBA, MS etc.

3. Courses conducted by CIMA-London, CPA in USA etc

4. Degree/ Diploma

Courses like Aeronautical, Pilot training, and Shipping etc. provided these are recognized by competent regulatory bodies in India/ abroad for the purpose of employment in India and abroad.
Admission fee / Monthly fee / Examination fee, Books, equipments, expenses of hostel / expenses for study tours, project work, thesis.

Approved courses leading to Graduate/ Post Graduate degree and Post Graduate diplomas conducted by recognized Colleges / Universities approved / accredited by Government of India/ State Government/ UGC / Government /AICTE /AIBMS / ICMR or Regulatory bodies.

2. Courses like I.C.W.A., C.A., C.F.A., etc.

3. Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NIDetc.

4. Approved courses offered in India by reputed foreign universities

5. Evening courses of approved / accredited institutes

6. Computer Certificate courses of reputed institutes accredited to the Deptt. of Electronics or Institutes affiliated to Universities.
Loan Amount Repayment


For loan upto Rs. 7.50 Lacs - Upto 10 years

For Loan above Rs. 7.50 Lacs - Upto 15 years
For loan upto Rs. 7.50 Lacs - Upto 10 years

For Loan above Rs. 7.50 Lacs - Upto 15 years
Margin Money Upto 4 lacs - NIL
Above 4 lacs for education Abroad - 15%
Upto 4 lacs - NIL
Above 4 lacs for education in India - 5%
Tenure Min. - 1 Yrs.
Max. - 7 Yrs.
Min. - 1 Yrs.
Max. - 7 Yrs.
Interest Rate Loan up to Rs.4.00 lac: 12.75%
Above Rs.4.00 Lacs & Upto Rs.7.50 Lacs: 13.25%
Above Rs.7.50 Lacs: 12.00%
Education Loan to Serving Professionals / Executives and Defence Personnel for Part-time courses: 12.75%
Loan up to Rs.4.00 lac: 12.75%
Above Rs.4.00 Lacs & Upto Rs.7.50 Lacs: 13.25%
Above Rs.7.50 Lacs: 12.00%
Education Loan to Serving Professionals / Executives and Defence Personnel for Part-time courses: 12.75%
 Fees & charges
 Security
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