Oriental Bank of Commerce
Eligibility:
Indian nationals not above 45 years of age those who secured admission in a recognized course of an approved university (AICTE approved institutions) OR institutes recognized by a statutory body.
Amount of Loan:
Education in India - Max. Rs.10.00 lacs.
Education Abroad - Max. Rs.20.00 lacs.
Security:
For Loans upto Rs.4.00 lac
No Collateral Security
Co-obligation of parents/guardian is must.
For Loans above 4 lacs and upto Rs.7.50 lacs
No Collateral Security required
Co-obligation of parents/guardian is must.
One satisfactory third party
guarantee
Above Rs.7.50 lacs
Co-obligation of parents/guardian is obligatory.
Mortgage of immovable property or any other tangible security like pledge of NSC/UTI/LIC (Surrender Value)/Bonds/Bank's deposits (Except under tax saving scheme) etc. . having value at least equal to 100% of loan.
Margin:
Upto 4 lacs - NIL
Above 4 lacs for education in India - 5%
Education Abroad - 15%
Rate of Interest :
For Loan upto Rs. 4.00 Lacs : PLR - 2.25 = 11.75 % per annum
For Loan above Rs. 4.00 Lacs : PLR - 1.50 = 12.50 % per annum
Repayment :
Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.
Documents to be submitted :
Admission slip, residence proof, age proof, letter from institute
Tenures:
Maximum of Seven Years
Contact:
Delhi Tel: 011- 28758205, 28754203
Bangalore Tel: 080-25095657
Chennai Tel: 044-28495566, 28497788
Hyderabad Tel: 040-23351243, 23351233
Kolkata Tel: 033-23379559, 23379560
Mumbai Tel: 022-22182085, 22166485