Purpose
	For higher education (after schooling)
Expenses covered
	Admission fee/Monthly fee/Examination fee, Books, Stationery & equipments.
	Air fare for joining the course abroad, Boarding & lodging expenses of hostel/boarding houses, where charges are standardised and paid to the Management of the Boarding House.
	Any other expenses required to complete the course like study tours, project work, thesis etc.
Eligibility
	Indian nationals not above 45 years of age those who secured admission in a recognized course of an approved university(AICTE approved institutions).
Amount of Loan
	Education in India - Max. Rs.7.50 lacs.
	Education Abroad - Max. Rs.15.00 lacs.
Security
	For Loans upto Rs.4.00 lac
	»	No Collateral Security required, Co-obligation of parents /guardian (No need of co-obligation if the student is a major)
	Above Rs.4.00 lac
	»	Co-obligation of parents/guardian is obligatory. However, if financial worth of the parents is not adequate, third person's guarantee acceptable to the Bank.
Collateral security
	Mortgage of immovable property or any other tangible security like pledge of NSCs/UTI/LIC (Surrender Value)/Bonds etc. having value at least equal to 100% of loan.
Margin
	Upto 4 lacs - NIL
	Above 4 lacs for education in India - 5%
	Education Abroad - 15%
Rate of Interest
	Upto 4 lacs - At PLR (-) 0.5% i.e 10.50%
	Above 4 lacs - At PLR (-) 1% i.e 10%
Concession on Rate of Interest
	Simple Interest shall be charged during moratorium period. The concession of 1% in rate of interest to be allowed, if interest is serviced regularly during the study period.
Repayment
	Within 84 EMIs commencing 12 months after course or 6 months after getting the job, whichever is earlier.

Important
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Head Office
Harsha Bhavan, E Block, Connaught Place
New Delhi - 110 001
Gen: 011-3321121/1691/3244/5508, Fax: 011-3321514/3713237
E-Mail: dscmd@obcindia.com/obc@obcindia.com
Website: www.obcindia.com