Oriental Bank of Commerce Education Loan: Application, Eligibility, Interest Rate, Documents & Much More.

Oriental Bank of Commerce Education loan

The Oriental Bank of Commerce is a leading public sector bank in India that was established in 1943 in Lahore, Pakistan. The bank offers projects and services that benefit minorities, rural sectors, backward classes and women. If you want Education Loan to pursue higher studies from Abroad or India, You are at the right place to collect every aspect of information related to OBC Education Loan in India.

Oriental Bank of Commerce logo

Read this full post on OBC Education Loan for information Like Eligibility, How to apply, Interest Rates, Documents Needed, Different aspects of Education Loan, Interest Rates, Return Policy, General Instructions etc. Throughout the article, we will share information regarding OBC Education Loan it’s Process to Apply and full detailed Information.

Oriental Bank of Commerce Education Loan

The major aim of the bank is to ensure anywhere and any time banking for the customer with the latest state-of-the-art technology. The Bank is very serious about its Education Loan Facility and by developing an effective customer-centric relationship it promises to emerge as a world-class education Loan provider. Before we share further, let us first have a brief review of the Bank.

Brief Review

Profile Description
Name of Bank  Oriental Bank of Commerce
Founded on 19 February 1943
Headquarter Gurgaon, India
Type of Bank  National Bank
Number of Employees 21,469 (2016)
CEO Name Mukesh Kumar Jain
Maximum Loan Amount  No Upper Limit, As per the fee structure of the Institute
Also, depending on the category of an institute
Timeline for Loan Disposal Maximum 15 Working days
Annual Revenue Δ 20,058.71 crore
Processing Fees
  • Up to Rs. 4.00 lacs:-No Processing Fee will be charged.
  • Above Rs. 4.00 Lacs:- 1% of loan amount to be recovered upfront, subject to a minimum of 10000/- plus service tax.
Other Subsidiaries
  • Oriental Bank of Commerce
  • Asset Management Arm
Category  Education Loan in India

Types of OBC Student Loan

S.no. Schemes Description
1. OBC Education Loan The scheme aims at providing financial support to meritorious students for pursuing higher studies in India & abroad with affordable terms & conditions.
One can avail a loan amount up to Rs. 10 lakh in India and aboard.
2. Working Professionals Loan To provide finance for pursuing Part-time professional courses to enhance their career prospects.
In case higher loan limit is requested for category Rs 25 Lakh & Rs 10 Lakh.
3. Central Scheme For Interest Subsidy For Weaker Section Central scheme to provide interest subsidy (CSIS) for the students from Economically Weaker Sections” from scheduled banks under the Education loan scheme of Indian Banks’ Association to pursue Technical/Professional
Education studies in India.
4. Skill Loan The scheme aims at providing financial support to students for pursuing employment oriented skill development courses with affordable terms and conditions. Under this scheme, One can avail a loan of Rs. 5000 to 1.5 lakhs.

How to Apply


  • Visit official Web Site of Oriental Bank of Commerce (Click Here)
  • Find the Educational Loan Section (Apply Now Button)
  • Fill online Application Form


  • Visit the nearest branch of Oriental Bank of Commerce to get offline Education Loan form.
  • You may also download the form from official web handle.
  • Submit the duly filled Application Form to Nearest Branch along with document needed.


  • The applicant should be an Indian national.
  • Applicant must have secured admission in any government recognized educational institution.
  • Eligible courses, Professional courses for the Oriental Bank of Commerce Education Loan.

Documents Needed

  • Identity Proof
  • Residence Proof
  • Mark sheet of last qualifying examination for school and graduate studies in India
  • Academic Records: 10th Result, 12th Result, Graduation result-semester Wise.
  • Proof of admission: Offer Letter or Admission Letter from the Institution.
  • Schedule of expenses for the course
  • Copies of the letter confirming scholarship, etc.
  • Copies of foreign exchange permit, if applicable.
  • 2 passport size photographs

Expenses Considered

  • Tuition and course fee
  • Examination, library and laboratory fees
  • Caution deposit
  • Cost of books, Uniforms, Equipment and other instruments.
  • Travel Expenses
  • Expenses related to study tours, project work, thesis, etc.

Return Policy

  • Up to 15 years
  • The loan is repayable in EMI Moratorium period shall be exclusive of the Repayment period.

EMI Calculator

EMI Calculator is used for calculating the periodic payment amount due on a loan. For calculating EMI one must input data like Amount, Interest Rate, tenure, Processing Fee etc.

  • If you want to calculate EMI for OBC Education LoanClick Here


  •  Up to Rs. 4 Lacs
    • Co-obligation of parents
    • No security
    • In case of married women, co-obligation from parents in law will be considered.
  •  Above Rs. 4 lacs and up to Rs.7.50 Lacs
    • Co-obligation of parents together with collateral security
    in the form of suitable third party guarantee. The bank
    may, at its discretion, in exceptional cases, waive third
    party guarantee if satisfied with the net-worth/means of
    parent/s who would be executing the documents as
    “joint borrower”.
  • Above Rs. 7.50 Lacs.
    • Parents will sign in as joint borrowers.
    • Mortgage of immovable property or tangible security such as Bonds, LIC etc.
    • In case of married women, co-obligation from parents in law will be considered.
    • Assignment of a part of the future income of the student towards loan repayment.
  • Note
    •In case higher loan limit is requested for category A & B institutions, 100% tangible security with a value equivalent to full loan amount is required.

Contact Details

Head office  Oriental Bank of Commerce
Institutional Area, Sector-32, Gurugram
Official website www.obcindia.co.in
Apply for Loan  Click Here
Contact Number 18001801235

Oriental Bank of Commerce Student loan FAQs

We hope that the information furnished above will guide you to get the best educational loan for your studies. In case of any doubt regarding the loan procedure and other related terms, read our FAQ’s session.

Q1. Who can be my co-borrowers?

Ans. Your parents/guardian can be a co-borrower as well as the spouse in case of a married applicant. The co-borrower should have a steady source of income and a good credit history in order to improve the applicant’s chances of a successful loan application.

Q2. How long does it take to process Education Loan?

Ans. Generally, the time taken for the education loan to process is somewhat between 7-10 working days. Often, the whole process can be easily completed within 3 to 5  Working days, once the student fulfils all documentation.

Q3. What all expenses will be covered by education loans?

Ans. Apart from the tuition fees, other aspects of expenses such as hostel charges, equipment purchases and other course-related expenses may also be covered by the education loan.

Q4. What are the courses for which an education loan can be availed?

Ans. An education loan can be availed for all courses recognized by the UGC in case of India and all regular courses abroad. Each lender has its own list of educational institutions and courses that they would provide a loan for whether overseas or within India.

Q5. Can a student avail another loan for further studies?

Ans. Yes, this is possible. You can borrow a loan for a bachelor’s degree followed by one for master’s without repaying the first loan. This loan can be taken as a top-up loan against the already existing loan; however, it is subject to the lending bank’s discretion and the internal rules and regulations of the lender.

Q6. Do education loans have any Income Tax benefits?

Ans. Loan borrowers can avail tax benefits on interest paid on education loan under Sec 80E of the Income Tax Act. This benefit is available over and above the Rs. 150,000 deduction allowed under Section 80C. Tax benefits can be availed once the borrower starts paying the interest on the education loan. Further, the deduction is available until the borrower pays off the full interest amount on the loan or for a maximum period of 8 years, whichever is earlier.

Q7. Why do banks require an insurance policy?

Ans. Banks usually prefer that students avail a life insurance policy equivalent to, or more than, the loan amount. The policy acts as a security feature and forms a part of the collateral. In case of the untimely demise of the borrower, the bank recovers the outstanding loan amount from the student’s life insurance policy and the remaining amount, if any, is paid out to the beneficiary of the policy.

Q8. Is any incentive available for a girl student applying for education loan?

Ans. Banks generally provide a 0.5% concession on the applicable education loan interest rate to girl students pursuing higher education in India and abroad.

Q9. Are there any special privileges for students of SC/ST category who avail education loans?

Ans. Yes, eligibility criteria and loan margins on education loan are relaxed for Scheduled Caste/Scheduled Tribe students availing education loans in India. The eligibility criteria are lowered from first/second class to pass class for SC/ST category students seeking education loan for graduate and postgraduate studies, while, margin money is sometimes lowered than the regular percentage or nil.

Q10. Where can I avail on an OBC Education loan?
Ans. The loan is available from all branches in metro/urban areas as well as those having personal banking divisions.

Best of Luck..!!

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Oriental Bank of Commerce Education Loan: Application, Eligibility, Interest Rate, Documents & Much More.
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