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OBC will offer education loans to NIIT students

Started by sukishan, Aug 21, 2009, 02:23 PM

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sukishan

OBC will offer education loans to NIIT students
Students who want to enroll for a NIIT course can now get easy financial assistance as education loan from Oriental Bank of Commerce (OBC) Premier information technology education provider in India NIIT has tied up with OBC to extend such loan facilities to its students.

Career program of over one year duration can be funded using loans from OBC. The bank will provide education loans up to 1.24 lakhs and will be available under the bank's regular education loan scheme. In addition to it, the loan will also provide a free personal accident cover of up to Rs. 15 lakhs.

It's not just the students who will benefit, working executives undergoing career improvement courses from NIIT Imperia will also be able to avail a loan up to Rs. 2 lakh who are enrolled for management programs.

Oriental Bank of Commerce offers education loans for both study in India and foreign university courses. For loans up to Rs. 4.00 lakhs, the bank requires no collateral or security for its educational loan.( The amount of loan available for NIIT students is Rs. 1.24 lakhs and 2.00 lakhs respectively, so this category applies to them). However, there is a compulsory co-obligation requirement of parents or guardians. The bank charges up no margin money for an education loan up to Rs. 4 Lakhs.
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