Oriental Bank of Commerce - OBC Education Loan

 
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Oriental Bank of Commerce - OBC Education Loan
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About Oriental Bank of Commerce - OBC Education Loan
Here you will find Oriental Bank of Commerce Education Loan Interest Rates 2013, its Eligibility and Repayment Process.

Purpose - To provide financial support to meritorious students for pursuing higher studies in India & abroad with affordable terms & conditions.

Eligibility For Loan:-

Student who is / has: -

1. An Indian national.

2. Meritorious student

3. Secured admission to a higher education course in an institute recognized by a statutory body in India or abroad through entrance test/ merit based selection process after completion of HSC (10+2 or equivalent)

Eligible Courses:-

Studies in India:-


1. 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.

7. Regular Degree/ diploma courses like Aeronautical, Pilot training, Shipping etc. approved by Director General Of civil Aviation/ shipping, if the course is pursued in India

8. Nursing Courses conducted by institutes approved by State / Central Govt./ Regulatory body.

Studies in Abroad:-

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.

Amount of loan
   
Up to Rs. 10.00 Lacs for studies in India

Up to Rs. 20.00 Lacs for studies abroad

Margin

Up to Rs. 4.00 Lacs - NIL

Above Rs. 4.00 Lacs
   
5% For studies in India

15% For studies Abroad

Security Clause:-

a)Loan upto Rs. 4.00 Lacs:-

1. No security.

2. Parents / guardian to be joint borrower (s) (irrespective of their means and age of student).

3. Co-obligation of spouse/ parents-in-law in case of married women.

4. In case of commercial pilot course obtaining of Life Insurance Cover shall be obtained.

b) Loan above Rs. 4.00 Lacs & upto Rs. 7.50 Lacs

1. Parents / guardian to be joint borrower (s) (irrespective of their means and age of student).

2. Co-obligation of spouse/ parents-in-law in case of married women.

AND

1. Collateral security in the form of one suitable third party guarantee, preferably of other family member / close relative. In case of commercial pilot course Life Insurance policy shall be obtained.

c)Loan above Rs. 7.50 Lacs

1. 1. Parents / guardian to be joint borrower (s) (irrespective of their means and age of student).

2. Co-obligation of spouse/ parents-in-law in case of married women.

3. Mortgage of immovable property or any other tangible security like pledge of NSCs/UTI/LIC (Surrender Value)/ PSU Bonds etc. having value equivalent to 100% of loan amount.

OR

Extension of charge or 2nd charge on unencumbered portion of land and building already mortgaged with Bank or other Banks/PSUs/FIs be accepted provided the residual value of unencumbered portion is at least equivalent to amount of proposed education loan if the conduct of the existing account is satisfactory and falls under standard/regular category.

1. Assignment of future income of the student on getting employment after completion of the course for payment of installment. An appropriate affidavit to this effect be obtained from all joint borrowers.

Repayment:-

For loan upto Rs. 7.50 Lacs - Upto 10 years

For Loan above Rs. 7.50 Lacs - Upto 15 years

Moratorium Period/ repayment holiday (course period + Grace period)

( The moratorium period be permitted within the overall repayment period of respective loan)

 
 
Comment/ Reviews on Oriental Bank of Commerce - OBC Education Loan
SIR, THIS IS DEEPAK KUMAR DAS. I JUST COMPLETED MY MBA 1ST ON LAST APRIL. I WANT A STUDY LOAN FROM YOUR BANK OF RS 1,00,000 FOR MY REMAINING COURSE. IF U KINDLY HELP ME THEN I WILL BE REMAIN GREATFUL TO YOU.
Posted By : DEEPAK KUMAR DAS, on 5/30/2012 2:51:37 PM 
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SIR, THIS IS DEEPAK KUMAR DAS. I JUST COMPLETED MY MBA 1ST ON LAST APRIL. I WANT A STUDY LOAN FROM YOUR BANK OF RS 1,00,000 FOR MY REMAINING COURSE. IF U KINDLY HELP ME THEN I WILL BE REMAIN GREATFUL TO YOU.
Posted By : DEEPAK KUMAR DAS, on 5/30/2012 2:51:12 PM 
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sir, i got admission in amity university in Hyderabad for MBA , so please am requesting u to proved the education lone sir
Posted By : ashok, on 4/24/2012 1:36:04 PM 
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pleese infomation education loan me
Posted By : mohd zubair, on 4/12/2012 8:12:27 PM 
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i need to get loan for study of b.arch. i want to doing study but i have no money . plz sir u help me so replay me as soon as possible
Posted By : GOLDY PANJETA, on 4/9/2012 11:26:57 AM 
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Sir, I passad my 12th with 52% marks in 2011, and I want to know that ki kya mughe 3 lakh ka loan withouy any security mil sakta hai............ sir plz. reply must in my e-mail id and in my mobile number...
Posted By : Ravi Mishra, on 4/1/2012 12:29:29 PM 
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Sir, I passad my 12th with 52% marks in 2011, and I want to know that ki kya mughe 3 lakh ka loan withouy any security mil sakta hai............ sir plz. reply must in my e-mail id and in my mobile number...
Posted By : Ravi Mishra, on 4/1/2012 12:28:31 PM 
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Sir, I passad my 12th with 52% marks in 2011, and I want to know that ki kya mughe 3 lakh ka loan withouy any security mil sakta hai............ sir plz. reply must in my e-mail id and in my mobile number...
Posted By : Ravi Mishra, on 4/1/2012 12:28:06 PM 
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Sir, I passad my 12th with 52% marks in 2011, and I want to know that ki kya mughe 3 lakh ka loan withouy any security mil sakta hai............ sir plz. reply must in my e-mail id and in my mobile number...
Posted By : Ravi Mishra, on 4/1/2012 12:27:06 PM 
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i want to education loan from your bank to continue my b.tech.and i want 378000 rupees to submit my next 3 year college fees
Posted By : vishal sharma, on 3/20/2012 1:17:13 PM 
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i want to education loan from your bank to continue my b.tech.and i want 378000 rupees to submit my next 3 year college fees
Posted By : vishal sharma, on 3/20/2012 1:14:33 PM 
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sir plz tell me that your bank given loan for post secondary program for abroad study......
Posted By : deepika, on 11/6/2011 1:07:40 PM 
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I want to know abt education loan for canada.pls reply me
Posted By : jasleen, on 11/3/2011 9:43:02 PM 
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Dear sir/Madam I have done B.Pharmacy in 2009 and after that i was working with Ind swift Pharmaceuticals Ltd. Its my keen desire to be accomplish my further study in Newzeland that is diploma in food technology. To support loan funding we have urban house under municipal corporation and it cost would be 15-18lakh.Besides, we are resident of Rajpura (Patiala) from 20 years.I hope my request to be consider as soon as possible. Kindest Regards Ravinder Singh
Posted By : RAVINDER SINGH, on 10/27/2011 2:59:53 PM 
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I need all the information regarding the procedure to get an education loan for study abroad. I hope you will contact me shortly.
Posted By : Harmandip Singh Mann, on 9/1/2011 9:11:06 PM 
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i m a student of bsc. airlines, tourismand hospitality management of 1st year, iiwant education loan of 2 lacs but manager is asking for property documents.
Posted By : nishith kumar, on 8/29/2011 11:31:07 AM 
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regarding education loan
Posted By : john, on 8/27/2011 7:50:24 AM 
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I want education loan for B tech (4 years).I have got 70+ % marks in high school and intermediate.I have taken admission in G.L Bajaj institute of technology Mathura. I belong to Tehasil Mathura.What steps I have to follow for easily education loan.Please Reply me quickly.I am awaiting for your call.
Posted By : Dinesh Singh, on 8/4/2011 9:20:07 PM 
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dear sir , i want facility of education loan of my son mr.Shivam dubey because he take admission in SUNDER DEEP COLLAGE OF ENGINEERING AND RESERCH CENTERE GHAZIABAD for B.TECH ( COMPUTER SCIENCE) BUT YOUR ETAWAH BRANCH IS NEW OPEN,THEY DO OR NOT,
Posted By : ADARSH KUMAF DUBEY, on 8/2/2011 3:00:35 PM 
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i m planning to go to newzealand for diploma course in tourism managment will ur bank able to give loan for my tutiuion fees.. waiting for ur quic response
Posted By : varun kumar rawtani, on 7/30/2011 2:50:40 PM 
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i m planning to go to newzealand for diploma course in tourism managment will ur bank able to give loan for my tutiuion fees.. waiting for ur quic response
Posted By : varun kumar rawtani, on 7/30/2011 2:50:15 PM 
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i take loan of 2 lakhs 50 thousand in obc bank for my study of engineering in india.i want to know that what the condition are relatated to my semester wise result.
Posted By : Nihar Ranjan Behera, on 7/5/2011 7:20:25 PM 
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I Want education loan for my son for B. Tech (4 years) course. The fee structure is Rs. 1.26Lac Fee + Rs. 5000/- as caution money + Rs. 50,000/- hostel fee, Total Rs 1.81Lac ( Full Course fee Rs. 7.24 Lac). High School - 84% in year 2009 (CBSE Board) Intermediate- 84% in year 2011 (CBSE Board)., Loan required Rs.6.00Lac My annual income is Rs. 1.57Lac. Kindly inform me accordingly and oblige. Thanking you, yours faithfullY ( DEVENDRA PRAKASH DHALL) R/o 71, Maruti Enclave, Phase 2, Bodla, AGRA, (U.P.)
Posted By : Devendra Prakash Dhall, on 6/9/2011 10:29:38 PM 
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I Want education loan for my son for B. Tech (4 years) course. The fee structure is Rs. 1.26Lac Fee + Rs. 5000/- as caution money + Rs. 50,000/- hostel fee, Total Rs 1.81Lac ( Full Course fee Rs. 7.24 Lac). High School - 84% in year 2009 (CBSE Board) Intermediate- 84% in year 2011 (CBSE Board)., Loan required Rs.6.00Lac My annual income is Rs. 1.57Lac. Kindly inform me accordingly and oblige. Thanking you, yours faithfullY ( DEVENDRA PRAKASH DHALL) R/o 71, Maruti Enclave, Phase 2, Bodla, AGRA, (U.P.)
Posted By : Devendra Prakash Dhall, on 6/9/2011 10:18:15 PM 
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I Want education loan for my son for B. Tech (4 years) course. The fee structure is Rs. 1.26Lac Fee + Rs. 5000/- as caution money + Rs. 50,000/- hostel fee, Total Rs 1.81Lac ( Full Course fee Rs. 7.24 Lac). High School - 84% in year 2009 (CBSE Board) Intermediate- 84% in year 2011 (CBSE Board)., Loan required Rs.6.00Lac My annual income is Rs. 1.57Lac. Kindly inform me accordingly and oblige. Thanking you, yours faithfullY ( DEVENDRA PRAKASH DHALL) R/o 71, Maruti Enclave, Phase 2, Bodla, AGRA, (U.P.)
Posted By : Devendra Prakash Dhall, on 6/9/2011 10:16:58 PM 
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I god addmission in b.d.s.i m about to complete my first year.i want 4 lacs fee for completing my course.so plz tell me how can i get loan.
Posted By : Pratik christian, on 5/9/2011 3:02:29 AM 
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i need to get 5 lakhs of loan for abroad studies. i AM PLANNING FOR ABROAD TO STUDY FOR DIPLOMA COURSES. I WANT TO KNOW ABOUT ALL THE CRITERIA/CONDITIONS FOR DIPLOMAS STUDY LOAN FOR ABROAD.the course is DIPLOMA IN HOTEL&TOURISM MANAGEMENT i got the admission by merit and i need to join on 6th of april 2011.so replay me as soon as possible
Posted By : kavitha, on 3/25/2011 3:55:22 PM 
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I want Rs 70000/- urgently to complite my BCA from Sikim Manipal.... I am working at BPO .... please help me
Posted By : Nilay, on 3/22/2011 12:02:14 AM 
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I WANT EDUCATIONAL LOAN TO STUDY IN CANADA For 2 year dipolma course.I am 39yrs old and i would like to know the elegibility of loan.
Posted By : bindhu natarajan, on 3/6/2011 12:06:03 PM 
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i have secured admission in uk, university of wales. i have all the doccuments required along with collateral security. i urgently require a loan, so plz contct me fast.
Posted By : RISHI MUKHERJEE, on 2/18/2011 8:32:37 AM 
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