Oriental Bank of Commerce Education Loan for India and Abroad Studies

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    Updated on: 27 Sep 2022


    Every student needs a quality education to lead a successful career and life. Unfortunately, such a study comes at an expense that not everyone who deserves it can bear. That's where education loans come into play.

    When it comes to providing education loans at competitive interest rates, Oriental Bank of Commerce (OBC) education loans become an option for students.

    One of the top public sector banks in India, OBC Bank holds a vast network of branches all over the country. OBC Bank education loan can be avail of in order to pursue higher education in premium colleges in India and abroad. Study loans from OBC Bank come with flexible repayment options and repayment period starting after the student has completed the course.

    An OBC Bank study loan helps students who want to pursue their higher education in various disciplines in various colleges across India and overseas. Education loan schemes of OBC Bank cover all costs such as college fees, hostel fees, books, equipment fees, travel money, etc for abroad studies. 

    In this blog, we will take you through all the features, requirements, and benefits of an OBC Bank education loan. So, let's start...

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    Oriental Bank of Commerce Education Loan Overview


     Maximum Loan Amount 

    For premium colleges: Up to INR 20 Lakhs
    For others: Up to INR 10 Lakhs

    Loan Tenure

    Up to 15 Years

    Interest Rate

    7.30% to 9.30% p.a.

    Moratorium Period

    Repayment starts after the course completion

    Margin Money

    Up to INR 4 Lakhs- Nil
    For more than INR 4 Lakhs- 15% for studying abroad and 5% for Indian college/university


    The student should be an Indian citizen.
     Students should have secured admission to professional or technical courses in India or abroad. 

    What is the rate of interest of the OBC Bank education loan?

    Students can get study loans at a floating rate of interest that ranges from 7.30% to 9.30% p.a. The applicable interest rate depends upon the student’s profile and the college.

    What is the margin money on the OBC Bank education loan?

    FOR Oriental Bank of Commerce study loans, there is no margin money for the education loans up to INR 4 Lakhs. For the loan amount of more than INR 4 Lakhs, the margin money is up to 15% for abroad education and 5% for study in Indian colleges.

    How much loan can be taken from the OBC Bank education loan?

    The bank can sanction up to INR 10 Lakhs for studies in India and up to INR 20 Lakhs for abroad studies.

    What is the repayment period of the OBC Bank education loan?

    Repayment of OBC Bank study loan can be started either after the course completion. The loan repayment period can be up to 15 years.

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    What is the security required to be pledged for the OBC Bank education loan?

    • If the loan amount is below INR 4 Lakhs, students do not have to pledge any form of collateral or security. Parents have to be a co-applicant and it would suffice.
    • For loans between INR 4 Lakhs and INR 7.5 Lakhs, a third-party co-applicant is mandatory along with the parents.
    • If the loan amount is more than INR 7.5 Lakhs, the parents or guardian can be the co-applicant along with collateral security of suitable value is mandatory to assure the repayment of the loan.

    Documents required for Oriental Bank of Commerce Education Loan

    • Address proof: passport, voter ID, electricity bill, etc.
    • Academic record: 10th/12th mark sheet for undergrad students and graduation degree & mark sheet for PG students.
    • Age proof
    • Community certificate
    • Family income proof: ITR, salary certificate, pension certificate of parent/guardian.
    • Admission certificate or I20 from the college/university
    • Fee details
    • Collateral documents (if applicable): LIC policy, valuation certificate, registry documents, etc.
    • An affidavit declaring that no study loan is availed from any other bank by the student and his/her parent.

    At what locations in India can a student avail of an OBC Bank education loan?

    Students can apply for an OBC Bank education loan at any branch in or near his/her place of domicile.

    Read Also:

    Does the OBC Bank education loan is available for all types of degrees and disciplines?

    OBC Bank offers education loans diplomas, undergraduate courses, and postgraduate courses which offer professional and technical degrees in India and abroad.

    Get in touch with GyanDhan if you are also looking for an education loan to study abroad, from public sector banks, private banks, or NBFCs. We have a tie-up with top financial lenders in India in order to provide students the best deal on education loans. For both secured and unsecured education loans, you can check your loan eligibility and gauge if you are qualified for an education loan. If you are eligible, our education loan counselor will contact you to understand your requirements in detail and suggest you the best loan options for you. We leverage our partnership with banks and help you through the process.

    Our loan assistance service is totally free- we do not charge any money from the students! So, get in touch with GyanDhan and we make your loan process easy! 

    First published date:

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