Oriental Bank of Commerce Education Loan

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Oriental Bank of Commerce Education Loan Summary Table

Oriental Bank of Commerce Education Loan Limit	For India – INR 10 Lacs For Abroad – 20 Lacs (Up to ₹ 7.5 lakh without collateral)
Oriental Bank of Commerce Education Loan Interest Rate	9.65% per annum
Oriental Bank of Commerce Education Loan Margin	For loan above INR 4 Lacs In India: 5% In abroad: 15%
Oriental Bank of Commerce Education Loan Processing Fee	Up to INR 4 Lacs: Nil Above INR 4 Lacs: INR 5000
Oriental Bank of Commerce Education Loan Security	Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee.Above INR 7.50 Lacs: Tangible security along with parents as co-borrower
Oriental Bank of Commerce Education Loan Repayment	It starts After 1 year of course completion or 6 months after getting a job

Oriental Bank of Commerce Education Loan Features

Oriental Bank of Commerce aims to provide financial assistance to students across the country who aspire to get to the top colleges of India and abroad. The expense in some universities is pretty high, and that’s where the loan helps you out. By taking an education credit, things could get more comfortable for you. If you own the capability and potential, this loan can make your dreams come true. The loan involves expenses for their education such as tuition fees, etc. The loan can be taken to study in India or even overseas. The Oriental Bank of Commerce is always there to help Indian students. All students can apply for the Oriental Bank of Commerce education loan by following the specific criteria and documentation.

Oriental Bank of Commerce Education Loan Eligibility

Parameters	Eligibility Criteria
Applicant’s Age	Non-employed personnel: Up to 35 years Working employees / Executives: Up to 45 years
Who Can Apply?	An Indian National: With secured admission to professional/technical courses in recognized institutions. Permanent employees: Who are employed for not less than three years with any organization and have secured admissions in a reputed institute or intend to acquire higher professional qualifications.
Maximum Loan Amount	For studies in India: Up to Rs. 1,000,000 For studies Abroad: Up to Rs. 2,000,000 For studies at IIT’s, IIM’s and ISB’s: Upto Rs. 4,000,000
Frequency Of Repayment	Quarterly or monthly rests. It starts 1 year after completing the course of six months after getting a job, whichever is first. Loan interest re‐payment will start immediately after disbursement of the first instalment of the loan.
Repayment Period	Tenure: Education Loan consists of Duration of Study, Grace Period after the Study, and Repayment Period. For Indian courses: Repayment tenure is a maximum of 12 years after the commencement of repayment. For Abroad courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.

Oriental Bank of Commerce Education Loan Interest Rate

LOAN AMOUNT	INTEREST RATE
Up to Rs 4 lakhs	MCLR + 2% = 12.75%
From Rs 4 lakhs to Rs 7.5 lakhs if credit guarantee coverage provided	MCLR + 3% = 13.25%
From Rs 4 lakhs to Rs 7.5 lakhs if collateral provided	MCLR + 1.75% = 12.00%
Above Rs 7.5 lakhs	MCLR + 1.75% = 11.30%

Oriental Bank of Commerce Education Loan Schemes with detailed features, documents, max loan, courses

Oriental Bank of Commerce Education Loan Schemes and Interest rates

Study in India and Abroad	Category A Institutions: No upper limit Category B institutions: Up to Rs.10 lakh	7.30% to 9.30% p.a.*
Working Professionals	Category A institutions: As per fee structure Category B institutions: Up to Rs.10 lakh	7.30% to 9.30% p.a.*
Skill Loan	Up to Rs.1.50 lakh	8.80% p.a.

Oriental Bank of Commerce Education Loan Documents Required

Under Know Your Customer Policy (KYC), the bank requires certain documents. These documents are required from both the student and co-borrower:

Identity Proof	One of any mentioned documents for Identity proof: Passport PAN Card Aadhaar Card Voter’s ID Card Driving Licence Photo Credit Card Central and State Govt. issued Photo ID Proof Defence ID Card.
Residence Proof	One of the following documents for Residence proof (It should not be more than 3 months old): Aadhaar Card Ration Card Passport Bank Account Statement Voter’s ID Card Letter from any recognized public authority Telephone Bill Electricity Bill Water Bill
Income Proof in case of salaried co-borrower	Salary Slips (not more than 3 months old) Bank Statements (not more than 3 months old) ITR Form-16 (for the last 2 years) bank account statement (for the last 6 months of salary account)
Income proof for self-employed co-applicant	Business address proof IT returns for the last two years (If IT payee) TDS certificate Form 16A, if applicable Certificate of qualification (for CA, doctor, and other professions) Bank account statement for the last 6 months.

Additional documents: Aside from KYC documents:

Student Applicant	Mandatory Passport submission
	Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission
	Proof of admission: A conditional application letter may be considered
	Cost of education, schedule of expenses.
	2-passport size photographs
	If the loan was taken out before then, loan account statement for the last 1 year.
Co-applicant	2-passport size photographs
Co-applicant	If the loan was taken out before then, loan account statement for the last 1 year.

Oriental Bank of Commerce Education Loan Offered Courses

The Education Loan covers courses that are only regular full-time Degree or Diploma courses that the student secured through selection or merit. Oriental Bank of Commerce Education Loan also considers Full-time Executive Management Courses like PGPX.

EMI Calculator

Oriental Bank of Commerce Education Loan EMI Calculator

Oriental Bank of Commerce: Takeover of Education Loan

An Education Loan is Transferable, and it is basically a process of transferring high-interest debt from one another lender and with a lower interest rate and better repayment policies.

How To Apply For Oriental Bank of Commerce Education Loan

Visit Dialabank for an education loan.
Go to the Oriental Bank of Commerce Education Loan page.
Check out all the eligibility and documents criteria for an education loan.
Fill out all the details required in the Education Loan application form.
Once done, our representative will soon contact you for a further stress-free process.