Education Loan in Oriental Bank of Commerce


Oriental Bank of commerce
Education loan amount size
For the students studying in India, maximum amount of upto Rs.10,00,000 will be provided.
For the students studying in abroad , maximum amount of upto Rs.20,00,000 will be provided.
Advance amount to be paid:
Nothing till Rs.4,00,000
More than Rs.4,00,000 – Students studying in india should pay 5% of the amount and students studying in abroad should pay 15% of the amount.
Interest rate:
Upto Rs.4,00,000 : BR + 2.75%
More than Rs.4,00,000 : BR + 3.50%
For girls , students from SC , ST categories and for the disables 0.50% special previliages will be provided.
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job , the repayment of the loan is to be started. The loan amount should be repayed in 84 month instalments.
Warranty:
No property guarantor is required till 4,00,000 Rs.
From 4,00,000 Rs. till Rs.7,50,000 Rs : Third party’s guarantee is required.
More than 7,50,000 rs. : Parents , student or the third party’s agreeing letter assuring the repayment of loan is required.

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