The Oriental Bank of Commerce (OBC) is one of the leading public sector banks in India. The bank offers consumer, private, commercial and investment banking services to its customers. OBC offers two types of home loan schemes which are Housing Loan and Home Furnishing Loan. The Housing Loan can be used for buying a land and to construct a house upon it thereafter. Loan applicants who wish to furnish their homes with furniture and fixtures may use the Home Furnishing Loan under the Oriental Home Loan Scheme.
Let’s further gain more understanding on the interest rates, features and charges of these home loan schemes.
OBC Home Loan
|Oriental Bank of Commerce Interest Rate 2019|
|Interest Rate||8.75% onwards|
|Age Criteria||Min. 18 years & Max. 75 years|
|Loan Tenure||Upto 40 years|
|Loan Amount – Home Loan||As per the applicant’s combined income|
|Loan Amount – Furnishing Home Loan||Up to Rs. 25 lakh (Upto 30% of existing property value)|
|Processing Fees||0.50% of the loan amount, Max Rs. 30,000|
|Repayment Tenure – Home Furnishing Loan||Upto 10 years|
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI.GST and service tax shall be levied extra on the mentioned charges.