Oriental Bank of Commerce Education Loan

Oriental Bank of Commerce Education Loan Scheme

Eligibility For Loan :

Student who is / has: -

  • An Indian national.
  • Meritorious student
  • 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

Eligible Courses

Studies in India:

  • Approved courses leading to Graduate/ Post Graduate degree and Post Graduate diplomas conducted by recognized Colleges / Universities approved / accredited by Government of India/ State Government/ UGC / Government /AICTE /AIBMS / ICMR or Regulatory bodies.
  • Courses like I.C.W.A., C.A., C.F.A., etc.
  • Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NIDetc.
  • Approved courses offered in India by reputed foreign universities
  • Regular Degree/Diploma courses like Aeronautical, pilot training, shipping, degree/diploma in nursing or any other discipline approved by Director General of Civil Aviation/Shipping/Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
  • Approved by Head Office and included in approved educational institutions list
  • All Regular courses conducted by Institutions categorized as A, B and others

Note:   The above list is indicative in nature the other job oriented courses to technical/ professional degrees/ diplomas offered by recognized institution may be considered under this scheme.

Studies in Abroad:


For job-oriented professional/technical courses offered by reputed universities. (Diploma/ Certification courses are not permissible) Post Graduation

Courses like MCA, MBA, MS etc.

Courses conducted by CIMA-London, CPA in USA etc Degree/ Diploma

Courses like Aeronautical, Pilot training, and Shipping etc. provided these are recognized by competent regulatory bodies in India/ abroad for the purpose of employment in India and abroad.

Components of Finance

  • Fee payable to college/ school/ hostel (lodging and boarding). Reasonable Lodging & Boarding charges will be considered in case the student chooses/ is required to opt for outside accommodation.
  • Examination/ Library/ Laboratory fee.
  • Insurance premium.
  • Caution deposit, Building fund/ refundable deposit supported by Institution bills/ receipts, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
  • Travel expenses/ passage money for studies abroad / College Bus fare in case of study in India
  • Purchase of computers-essential for completion of the course*.
  • Purchase of books/ equipments/ instruments/ uniforms*.
  • Any other expenses required to complete the course-like study tours, project work, thesis, etc*.

*Terms & Conditions apply.

Amount of loan

No upper Ceiling. As per the fee structure of the institution-without collateral security. Downloand Institute link with PDF Click here

₹ 10.00 Lacs Without Collateral Security. Downloand Institute link with PDF Click here

Actual as per fee structure of Institution

In case higher loan limit is requested (from the above mentioned limit) for category A & B institutions, 100% tangible security with value equivalent to loan amount is required.

Rate of Interest and Repayment

Rate of interest Institutions Rate of Interest
For Category A RBLR+0.10
For Category B RBLR+0.60%
Others Institutions and working professionals
Up to ₹ 4.00 Lacs RBLR+2.10%
Above ₹ 4.00 Lacs & Upto ₹ 7.50 Lacs Credit Guarantee cover RBLR+2.10%
Immovable Property or Tangible Assets RBLR+1.85%
Above ₹ 7.50 Lacs RBLR+1.85%

Special Rates:

  • Simple interest during moratorium period and thereafter the interest shall be compounded.
  • Concession of 1% in rate of interest is allowed for moratorium period (study + grace period), if the monthly interest is serviced regularly (monthly basis) during the moratorium period.
  • 0.50% concession on rate of interest will be applicable to women beneficiaries, SC/ST & disabled students. However, the 0.50% concession will be available for only one characteristic.

Note: The rate of interest shall not fall below 1 year MCLR in any case.

Repayment Upto 15 years
Loan is repayable in EMI
Moratorium period shall be exclusive of Repayment period
Process fee Loans for study in India :- NIL
Loans for study abroad :-
  • Upto ₹ 4.00 lacs: Nil
  • Above ₹ 4.00 Lacs:1% of loan amount to be recovered upfront, subject to minimum of ₹ 10000/- plus service tax, if any, if any (fee would be refunded after taking the course)

Click here to Apply