#1
June 14th, 2016, 09:17 AM
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Student Loan Oriental Bank Of Commerce
Hello sir here I have come to get info about Student Loan Oriental Bank Of Commerce, so can you tell me some info regarding to it ??
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#2
June 14th, 2016, 09:41 AM
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Re: Student Loan Oriental Bank Of Commerce
Oriental Bank of Commerce is a leading public sector bank in India that was established in 1943 As you asking, I am telling Oriental Bank Of Commerce offered Student/education Loan to provide financial support to meritorious students for pursuing higher studies in India & abroad with affordable terms & conditions. Loan eligibility 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): Quantum of Loan Need based finance with the following ceilings: • Studies in India: up to. Rs.10 lacs • Studies abroad: up to Rs.20 lacs Margin Upto to Rs.4.00 lacs – Nil Above Rs.4.00 lacs • for studies in India: 5% • studies abroad: 15% *scholarship can be considered as margin. Interest Rates on Education Loan: Loan Amount Male Students Female Students Up to Rs.4 lacs 12.75%(B.R + 2.50) Concession of 0.50% Above Rs.4 lacs but not exceeding 7.50 lacs with Third party Guarantee 13.25%(B.R + 3.00) Concession of 0.50% Above Rs.4 lacs but not exceeding 7.50 lacs with Immovable property or tangible assets 12.00%(B.R + 1.75) Concession of 0.50% Loan Security: Loan amount up to Rs.4 Lacs No security required. Parents will sign in as joint borrowers. In case of married women, co-obligation from parents in law will be considered. Amount from Rs.4 lacs to Rs.7.50 lacs Parents will sign in as joint borrowers. In case of married women, co-obligation from parents in law will be considered. Collateral security by means of third party guarantee, preferably from a close family member. Borrowing over 7.50 lacs Parents will sign in as joint borrowers. In case of married women, co-obligation from parents in law will be considered. Mortgage of immovable property or tangible security such as Bonds,LIC etc. Assignment of a part of future income of the student towards loan repayment. |
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