Education Loan -Oriental Bank Of Commerce



For higher education after schooling.

Items Eligible for Finance

Admission fee/Monthly fee/Examination fee, Books, Stationery & equipments,
Air fare for joining the course abroad, Boarding & lodging expenses of hostel/boarding houses, where charges are standardized and paid to the Management of the Boarding House. Any other expenses required to complete the course like study tours, project work, thesis etc.
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:
For Category A list of institutes: Rs. 10 lacs

For Category B list of institutes: Rs. 25 lacs


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

Read: Education loans in India

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/
  • Banks deposits (Except under tax saving scheme) etc. . having value at least equal to 100% of loan. Extension of charge on property already mortgaged with our Bank, subject to adequate residual value of security.


  • 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 – 1.25 = 10.75 % per annum

For Loan above Rs. 4.00 Lacs 

  • PLR – 0.50 = 11.50 % per annum

(0.50% concession in interest for girl student)

The minimum interest on education loans after allowing all concessions, which includes 0.50 concession to girl  shall not fall below 10.50% p.a. (for male students) and 10.25% (for female students)

Concession on Rate of Interest :
Simple Interest shall be charged during study and moratorium period. The concession of 1% in rate of interest to be allowed, if interest is serviced regularly during the study and moratorium period. This concession shall be allowed after expiry of moratorium.
Special Rate:
0.50% concession to women beneficiaries, SC/STs and disabled students.
Process Fee:
Upto 4 lacs – Rs. 100/-.
Above 4 lacs for education in India – Rs. 500/-
Education Abroad – Rs. 1000/-

To know more in details, read here


Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.


Free Personal Accident Insurance upto Rs.20 lac.
Help Line No- 1800-180-1235, 0124-2340940 
For unresolved queries- 011-25718132

For details on Education Loans offered by the Oriental Bank of Commerce