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 CGC Lucknow, however OBC (Oriental Bank of Commerce) Provides loans on preferential terms and interest rates to CGC 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.