Oriental Bank Of Commerse

YES

1) Graduate, Post Graduate degree and Diploma from recognised colleges/universities approved/recognised by state/central government or a competent authority such as AICTE /AIBMS / ICMR or Regulatory bodies.

2) Courses/Programs conducted by national institutes such as IIMs, IITs, IISc, XLRI, NIFT etc.

3) I.C.W.A, C.A, C.F.A are also eligible.

4) Evening courses from accredited institutions. Courses from recognised foreign institutes in India.

5) Computer certificate courses of reputed institutes and degree/diploma such as Aeronautical, Pilot training, Shipping approved by the competent authority.

6) Job oriented courses will also be considered.

Rs.10 lacs for courses in India and up to Rs.20 lacs for overseas studies.

  • Up to Rs.4 lacs                                              
  1. For Male Student- 12.75%(B.R + 2.50)                                                   
  2. For Female Student- Concession of 0.50%                                                 
  • Above Rs.4 lacs:- but not exceeding 7.50 lacs with Third party Guarantee                                           
  1. For Male Student- 13.25%(B.R + 3.00)                                                 
  2. For Female Student- Concession of 0.50%                                           
  • Above Rs.4 lacs:- but not exceeding 7.50 lacs with Immovable property or tangible assets                             
  1.  For Male Student- 12.00%(B.R + 1.75)                                                  
  2. For Female Student- Concession of 0.50%                                                                                        

For borrowings of up to Rs.7.50 lacs, repayment can be made in EMIs for up to 10 years,  For all other amount  repayment tenure of up to 15 years.

1) For loan amount up to Rs.4 lacs, no margin is required. OBC takes care of entire funding of the course on basis of the approved amount.

2) For all other amounts above this benchmark, a margin of 5% is applicable for studies in India and 15% for overseas studies.

3) Financial impetus in the form of Scholarship/Assistantship can be included by the student in their margin.

4) Margin from the student can be brought in at the time of disbursement based on pro rata system and on a year to year basis as per the requirement.

  • Loan amount up to Rs.4 Lacs :- No security required.
  1. -Parents will sign in as joint borrowers.
  2. -In case of married women, co-obligation from parents in law will be considered.                            
  •    Amount from Rs.4 lacs to Rs.7.50 lacs                                           
  1. -Parents will sign in as joint borrowers.
  2. -In case of married women, co-obligation from parents in law will be   considered.
  3. -Collateral security by means of third party guarantee, preferably from a close family member.                             
  • Borrowing over 7.50 lacs               
  1. Parents will sign in as joint borrowers.
  2. -In case of married women, co-obligation from parents in law will be considered.
  3. -Mortgage of immovable property or tangible security such as Bonds,LIC etc.
  4. -Assignment of a part of future income of the student towards loan repayment.

Dual Courses/Top up Loan:

OBC also extends loans for courses where degree/diploma are offered in unison. A student with bright prospects and sound performance during the course can also be eligible for a top up loan during the holiday period, provided the applicant meets the extensive eligibility criteria laid out by the bank.

  1. Regular course fees along with charges incurred on boarding/lodging if the candidate opts for outside accommodation.
  2. Examination fee, Library/Lab fees, Caution deposit, Building fund, Institution bills provided these charges do not exceed 10% of the total tuition fees for the entire course.
  3. Costs incurred towards purchase of books, equipment, computers, uniforms etc.
  4. Travel expenses incurred on overseas studies.
  5. Expenses related to study tours, project work, thesis, etc.
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