Educational Loan Scheme
EDUCATION LOAN SCHEME
Purpose
To provide financial support to meritorious students for pursuing higher studies in India & abroad with affordable terms & conditions.

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Eligibility For Loan
Student who is / has: -
1. An Indian national.
2. Meritorious student
3. 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 after completion of HSC (10+2 or equivalent)

Eligible Courses
1. Studies in India
1. 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.
2. Courses like I.C.W.A., C.A., C.F.A., etc.
3. Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NIDetc.
4. Approved courses offered in India by reputed foreign universities
5. Evening courses of approved / accredited institutes
6. Computer Certificate courses of reputed institutes accredited to the Deptt. of Electronics or Institutes affiliated to Universities.
7. Regular Degree/ diploma courses like Aeronautical, Pilot training, Shipping etc. approved by Director General Of civil Aviation/ shipping, if the course is pursued in India
8. Nursing Courses conducted by institutes approved by State / Central Govt./ Regulatory body.

Eligible Courses
a) Studies in Abroad
1. Graduation
For job-oriented professional/technical courses offered by reputed universities.
2. Post Graduation
Courses like MCA, MBA, MS etc.
3. Courses conducted by CIMA-London, CPA in USA etc
4. Degree/ Diploma

Two / Dual Courses
Education loan for Diploma and degree courses simultaneously may also be considered for two / dual courses provided by the educational institutions.

Top-up/Second Loan
Second Education Loan can be permitted for pursuing higher education in view of better placement prospects in case the student approaches for top-up/ second loan during the moratorium period of the first education loan subject to compliance of security stipulations, other terms & conditions defined as per extant guidelines of education loan policy.

Components of Finance
1. 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.
2. Examination/ Library/ Laboratory fee.
3. Insurance premium for student borrower, if applicable.
4. 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.
5. Travel expenses/ passage money for studies abroad.
6. Purchase of computers-essential for completion of the course*.
7. Purchase of books/ equipments/ instruments/ uniforms*.
8. Any other expenses required to complete the course-like study tours, project work, thesis, etc*.

*Terms & Conditions apply.
Amount of loan
Up to Rs. 10.00 Lacs for studies in India
Up to Rs. 20.00 Lacs for studies abroad

Contact Us
Head Office
Oriental Bank of Commerce
Harsha Bhawan, E- Block,
Connaught Place,
New Delhi – 110001