Oriental Bank of Commerce Education Loan

The Oriental Bank of Commerce (OBC) offered education loans to students seeking financial assistance for higher education. However, in 2020, Oriental Bank of Commerce was merged with Punjab National Bank (PNB), so the education loan products from OBC are now part of PNB's offerings.

Updated On - 05 Sep 2025
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For more information about the education loans offered by Punjab National Bank, please visit https://www.bankbazaar.com/punjab-national-bank-education-loan.html

Oriental Bank of Commerce Education Loan Interest Rates

Schemes

Maximum Loan Amount

Interest Rates

Study in India and Abroad

Category A Institutions: No upper limit Category B institutions: Up to Rs.10 lakh

7.30% to 9.30% p.a.*

Working Professionals

Category A institutions: As per fee structure Category B institutions: Up to Rs.10 lakh

7.30% to 9.30% p.a.*

Skill Loan

Up to Rs.1.50 lakh

8.80% p.a.

*Interest rate concession of 50% for women students, disabled students, and SC/ST category (for either one factor)

Compare:

Education Loan Interest Rate

Compare Oriental Bank of Commerce Education Loan Schemes for Students

Study in India and Abroad

  1. Interest rate: 7.30% to 9.30% p.a.
  2. Processing fee:
    1. For study in India: Nil
    2. For study abroad:
      1. For loans below Rs.4 lakh: Nil
      2. For loans above Rs.4 lakh: 1% of loan amount, minimum of Rs.10,000 + taxes
  3. Collateral:
    1. Loans up to Rs.7.5 lakh: No collateral security
    2. Loans above Rs.7.5 lakh: 100% tangible collateral equivalent in value to the loan amount
  4. Loan tenure: Up to 15 years
  5. Eligibility: Indian nationals, meritorious students, and admission thorough entrance or merit-based test

 Working Professionals Loan

  1. Interest rate: 7.30% to 9.30% p.a.
  2. Collateral:
    1. Loans up to Rs.7.5 lakh: No collateral security
    2. Loans above Rs.7.5 lakh: 100% tangible collateral equivalent in value to the loan amount
  3. Loan tenure: Up to 15 years
  4. Eligibility:
    1. Indian nationals
    2. Up to 55 years
    3. Graduates
    4. Employed in private/public/defense organisations
    5. Admission in approved institutions on part-time basis

Skill Loan

  1. Interest rate: 8.80% p.a.
  2. Collateral: Nil
  3. Loan tenure: Up to 7 years
  4. Eligibility:
    1. Indian nationals
    2. Enrolled in organistions recognized under National Skill Qualification Framework (NSQF)
oriental bank of commerce education loan

Oriental Bank of Commerce Education Loan EMI Calculator

The BankBazaar Education Loan EMI Calculator shows you exactly how much your Equated Monthly Instalments will be on your Oriental Bank of Commerce education loan. When you know how much to expect, you can plan your finances and expenditure in advance. This is very useful for all students irrespective of your financial resources.

The EMI calculator will display a detailed amortisation table as well as a breakup of the total interest and principal amount that you have to repay. All you have to do is enter the required data in the relevant fields. There is a slider to input the loan tenure and loan amount. Enter in the interest rate that is applicable for your course. Click on the ''Calculate'' button to get your amortisation table.

An example is given below:

For a loan amount of Rs.10 lakh at an interest rate of 7.30% with the maximum tenure of 15 years and no processing fee, the details of your loan and your amortisation table will look like this:

  1. Monthly EMI: Rs.9,157
  2. Total interest due: Rs.6,48,231
  3. Total amount payable: Rs.16,48,231

Year

Principal Paid (A)

Interest Paid (B)

Total Payment (A+B)

Outstanding Loan Balance

2020

28,344

54,068

82,412

9,71,656

2021

40,283

69,601

1,09,884

9,31,375

2022

43,322

66,559

1,09,881

8,88,052

2023

46,592

63,288

1,09,880

8,41,460

2024

50,110

59,772

1,09,882

7,91,350

2025

53,893

55,988

1,09,881

7,37,457

2026

57,962

51,920

1,09,882

6,79,495

2027

62,337

47,545

1,09,882

6,17,158

2028

67,043

42,839

1,09,882

5,50,115

2029

72,104

37,780

1,09,884

4,78,010

2030

77,549

32,333

1,09,882

4,00,463

2031

83,404

26,479

1,09,883

3,17,061

2032

89,700

20,183

1,09,883

2,27,362

2033

96,471

13,412

1,09,883

1,30,892

2034

1,03,752

6,129

1,09,881

27,140

2035

27,139

330

27,469

0

How to Apply for Oriental Bank of Commerce Education Loan?

You can apply for an educational loan through the following ways:

  1. Offline: Visit your nearest branch, request the application form, and submit it after filling it in and attaching the required documents
  2. Online: Visit the official website of the bank, select the course of your choice, and click on the ''Apply Now'' button the page.

Subsidy Schemes on Oriental Bank of Commerce Education Loan

Central Scheme for Interest Subsidy for Weaker Section: This scheme provides interest subsidy on the education loan for economically weaker sections.

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FAQs on Oriental Bank of Commerce Education Loan

  • What is the maximum loan amount I can avail from Oriental Bank of Commerce for education?

    Oriental Bank of Commerce offers a maximum education loan amount of Rs.10 lakhs for studies in India and Rs.20 lakhs for studies abroad. 

  • What is the moratorium period for the Oriental Bank of Commerce education loan?

    After completing the course, repayment of the Oriental Bank of Commerce education loan starts. 

  • Who is eligible for Oriental Bank of Commerce education loan?

    For students to be eligible for an Oriental Bank of Commerce education loan, they must be an Indian citizen, and students must have been accepted into professional or technical programs in India or abroad. 

  • Is collateral security required for an education loan from the Oriental Bank of Commerce?

    Students are not required to provide any kind of collateral security if the loan amount is less than Rs.7.5 lakhs. Parents or guardians may co-apply for a loan if the total amount exceeds Rs. 7.5 lakhs, if they provide 100% collateral security equal to the approved loan amount from the Oriental Bank of Commerce.  

  • Does Oriental Bank of Commerce offer any interest subsidy schemes?

    Yes, Oriental Bank of Commerce offers interest subsidy schemes such as central scheme for interest subsidy and skill loan scheme. 

  • Is there any concession in interest rate for general category?

    Anyone can avail 1% concession in interest rate during the moratorium period, which includes the duration of the course and the grace period, if the interest is paid on a regular monthly basis during the moratorium period itself.

  • Is the processing fee refundable?

    For studies abroad, for loan amount of over Rs.4 lakh, the processing fee is refunded after the course is completed.

  • Is any third-party guarantee required?

    Yes, third-party guarantee or a co-obligant is required. For courses in category A institutions, it can be a parent or guardian, spouse or parent-in-law.

  • If accommodation outside the campus of the educational institution is required, will it be covered under the loan?

    Yes, boarding and lodging charges which are reasonable will be covered under the loan if outside accommodation has to be arranged for the duration of the course.

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