Oriental Bank of Commerce Education Loan is a means to assure that finances do not cause any hindrance in your dream of pursuing higher studies. The loan can be availed by any deserving student for higher studies in India or abroad. The loan is a hassle free means of helping out students and the fact that Oriental Bank of Commerce Education Loan can be availed through the banks hassle free procedure make them the choicest option available for students.

Oriental Bank Of Commerce Education Loan Interest Rate:

The Oriental Bank of Commerce Education Loan interest rate is competitive and is the reason many avail it for study in India and abroad.

Oriental Bank of Commerce Education Loan rate is 12.75% to 15.25% based on Base Rate and other criteria. The Base Rate is subject to change. Most students looking for Bank finance for higher education find Oriental Bank of Commerce Education Loan interest rate competitive and affordable for repayment. The Bank also provides a 0.50% discount for female students and SC/STs, 1% discount for students of IIT? and IIMs for loan up to Rs 4.00 lacs.

Oriental Bank Of Commerce Education Loan Eligibility And Expenses Covered:

Oriental Bank of Commerce Education Loan can be availed by any resident Indian in the age group 16 to 45 years. The loan can be availed for any graduation and post graduation courses. All Recognized Courses like:

• ·ICWA
• ·CA, CFA
• ·IIM
• ·IIT, XLRI, NIFT, IISc

Loan is also offered for courses by UGC/Govt./AICTE/ICMR programs that qualify for Oriental Bank of Commerce Education Loan eligibility.

The loan applicant has to pay margin money ranging from 5-15 % of the total loan amount applied for courses in India & Abroad.

Other Qualifications For Oriental Bank Of Commerce Education Loan Eligibility Are:

1For Oriental Bank of Commerce Education Loan eligibility the candidate should be a Resident Indian.

2Admission to technical courses in India is possible through Oriental Bank of Commerce Education Loan eligibility.

3A co-applicant is required for full time courses.

4The maximum loan for studies in India is at the maximum is Rs.10 lacs

5The maximum loan for studies abroad is at the maximum is Rs. 20 lacs.

The expenses covered under the Oriental Bank of Commerce Education Loan rate is

1. College Fee

2Hostel and Library charges

3Caution deposit

4Money to go abroad

5Money for Study tours, Project work, Computer etc.

Oriental Bank Of Commerce Education Loan Review And Documentation:

According to the Oriental Bank of Commerce Education Loan review the student would need to provide the following documents for the processing of the loan apart from Proof of Age, Signature, Identity and Residence:

1Fully completed loan application form along with Institutes Admission letter with Fee Break up.

2Two Photographs

Oriental Bank of Commerce Education Loan review and documentation for the salaried co- borrower:

1Bank Statement for last 6 months.

2Income Tax Statement for the last two years

3A brief about the asset and liabilities possessed by the borrower

4Latest 2 Salary slips

Oriental Bank of Commerce Education Loan review and documentation for the self employed individual:

1Bank Statement

2Income Tax Return

3Profit and Loss Account or Balance Sheet of the Company

4Proof of Qualification.

Oriental Bank Of Commerce Education Loan Review And Application Procedure:

Oriental Bank of Commerce Education Loan application forms are available at all bank branches across India. The filled up forms can be then submitted along with the loan application at the branch. The loan will be disbursed in installments to the college or institute directly.

Oriental Bank Of Commerce Education Loan Rate Repayment Option And Pre Closure Process:

The Oriental Bank of Commerce Education Loan interest rate needs to be paid back in maximum 7 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of six months or till the person gets a job or whichever is earlier. Check with your nearest branch for pre closure charges or late fee charges.

Oriental Bank of Commerce Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on Oriental Bank of Commerce Education Loan eligibility and Oriental Bank of Commerce Education Loan Rate etc. are on the official site at https://www.obcindia.co.in