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  #2  
June 14th, 2016, 09:41 AM
Super Moderator
 
Join Date: Mar 2013
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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