Educational Loans
 
Educational loans bridge gap between the 'students' from different financial backgrounds and 'education' that enlightens the knowledge of one's future development. Today, students even when know their parents can afford to pay for their education, still choose the other way and start their life on their own terms and by taking education loan that needs to be repaid on the start of their job.
 
 
All leading Banks provide Educational Loans to Students of IMS Unison University, however OBC (Oriental Bank of Commerce) Provides loans on preferential terms and interest rates to IUU students.
 
Common Highlights (for bank)
 
Loan Amount
 
Maximum of Rs. 10 lakhs.
 
Rate of Interest
 
12.75 % to 13.5 % @ Based on RBI and OBC bank regulations
 
Margin
 
Upto Rs. 4 lakhs : Nil
Above Rs. 4 lakhs : 5% (For Studies in India)
 
Security
 
Upto Rs. 4 lakhs: Nil
 
Rs. 4 lakhs - Rs. 7.5 lakhs: Third Party Guarantee acceptable to Bank having adequate net worth.
 
Above Rs. 7.5 lakhs: Collateral Security equal to 125% of loan amount
 
Repayment
 
Repayment Moratorium: Course period+1 year, or six months after getting a job whichever is earlier as prescribed by the bank. The loan amount is to be repaid in 10 years after commencement of repayment.
 
Documents Required
 
Copies of certificates with regard to educational qualifications, domicile, admission letter, Fee Structure from college authority stating coverage of expenses, income proof of parent, assets and liabilities statement of parent/guarantor, if any.
 
Kindly check the link of OBC website: http://www.obcindia.co.in/obcnew/site/inner.aspx?status=4&menu_id=70 or
 
Visit the OBC branch:
Village Makkawala, P.O. - Bhagwantpur, Mussoorie Diversion Road
Dehradun, Pin-248001
Contact No :- 0135-2733468