OBC Personal Loan

 

Oriental Bank of Commerce Personal Loan is one loan that fulfills diverse needs of govt./PSU employees, corporate employees and pensioners. Offering a loan amount of upto Rs. 10 lakh, this personal loan can be applied online and offline. The loan amount, interest rate and eligibility criteria for Oriental Bank of Commerce Personal Loan vary from individual to individual.

Table of Contents

 

Oriental Bank of Commerce Personal Loan – Features and Benefits

• Loan amount: Starting from Rs. 5 lakh, the loan amount offered by Oriental Bank of Commerce on a personal loan goes upto Rs. 10 lakh
• Widespread availability: Oriental Bank of Commerce Personal Loan is offered to government employees, corporate employees and pensioners
• Flexible tenure: The tenure to repay Oriental Bank of Commerce Personal Loan goes up to 60 months and offers flexibility
• Quick approval: If you meet the eligibility criteria and submit all the necessary documents, you will get an instant approval on your Oriental Bank of Commerce Personal Loan
• Minimum documentation: The documentation required to opt for Oriental Bank of Commerce Personal Loan is minimum and saves time

Oriental Bank of Commerce Personal Loan Scheme for Govt

This personal loan scheme can be availed to meet personal expenses including marriage, higher education, purchase of consumer durables and a lot more.

Oriental Bank of Commerce Personal Loan Scheme for Govt- Interest Rate and Fees

1 year MCLR with effect from 10.08.2019 is 8.55%

Interest Rate	One Year MCLR +2.75%
Penal Interest	2% penal interest over the normal lending interest rates on the overdue amount for irregular period
Processing Fee	0.50% of the loan amount with a minimum of ₹ 500/- +Service tax, if any

Oriental Bank of Commerce Personal Loan Scheme for Govt. – Eligibility Criteria

• You should be a permanent and confirmed employee of Public Sector Undertaking (PSU) and Centre / State Govt. Deptt. and other Government institutions like Universities/Colleges etc.
• You should have a salary account with the bank
• Your monthly salary should be minimum Rs. 10,000
• Your net take home salary should not be less than 30% of gross salary after deducting the EMI of the proposed loan
• If you don’t have a salary account with the bank, your gross monthly salary should be at least Rs. 50,000

Oriental Bank of Commerce Personal Loan Scheme For Corporate

Oriental Personal Loan Scheme For Corporate is offered to fulfill personal or family expenses including a wedding, medical emergency, purchase of consumer durable or any household item, etc.

Oriental Bank of Commerce Personal Loan Scheme For Corporate- Interest Rate and Fees

1 year MCLR with effect from 10.08.2019 is 8.55%

Interest Rate	One Year MCLR +3.75%
Penal Interest	2% penal interest over the normal lending interest rates on the overdue amount for irregular period
Processing Fee	1.00% of the loan amount plus applicable taxes.

Oriental Bank of Commerce Personal Loan Scheme For Corporate – Eligibility Criteria

• You should be a permanent employee of reputed corporates and other reputed non-government organizations/institutions including colleges/schools
• You should have a salary account with the bank
• you should have at least 3 years of working experience that also includes service with the previous employer(s), if any
• Your minimum monthly income should be at least Rs. 10,000
• Your net take home salary should be less than 30% of gross salary after deducting the EMI of the proposed loan
• If you don’t have a salary account with the bank, your monthly salary should be at least Rs. 50,000

Oriental Bank of Commerce Personal Loan Scheme For Pensioners

The loan is offered to pensioners to meet personal expenses like paying medical bills, travelling, home renovation, etc. For pensioners, repayment goes up to maximum 60 EMIs subject to last repayment of 75 years and for family pensioner, the tenure goes up to 60 EMIs subject to last repayment of 70 years.

Oriental Bank of Commerce Personal Loan Scheme For Pensioners – Interest Rate and Charges

1 year MCLR with effect from 10.08.2019 is 8.55%

Interest Rate	One Year MCLR +2.25%
Penal Interest	2% penal interest over the normal lending interest rates on the overdue amount for irregular period
Processing Fee	1.00% of the loan amount plus applicable taxes

Oriental Bank of Commerce Personal Loan Scheme For Pensioners- Eligibility Criteria

• The pensioner should not be more than 75 years of age and family pensioner that is spouse who is authorized to receive pension after the death of the pensioner, should not be more than 70 years
• The net home pension should be at least 50% of gross pension (including the installment of proposed loan)
• The family pensioner is also eligible for personal loan

Also Know: What documents do I need to get a personal loan for pensioners

Oriental Bank of Commerce Personal Loan – Documents Required

The documents to avail Oriental Bank of Commerce Personal Loan may vary as per the type of loan you choose. However, the basic documents that are required as are follows:

• Photo identity proof(any one document): Passport, Pan Card, Voter Identity Card, Driving License, Aadhaar Card
• Address proof(any one document): Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement(for owned properties), Aadhaar Card
• Salary proof: Last 3 months/6 months’ bank statement (dependent on scheme) showing salary credits, Latest Salary Slip

Oriental Bank of Commerce Personal Loan – EMI Calculator

Personal loan EMI calculator is an easy to use online tool available on Paisabazaar.com. The tool is designed to give you an idea about how much your future EMIs are going to cost if you opt for a specific amount of Oriental Bank of Commerce Personal Loan. The EMI calculator gives you an instant result after you select the desired:

• Loan amount
• Tenure
• Interest rate

Compare Oriental Bank of Commerce Personal Loan VS Other Lenders

Oriental Bank of Commerce – Customer Care

• You can give a call on 0120-2580001, 1800-180-1235 or 1800-102-1235
• You can visit the corporate office at Plot No. 5, Institutional Area, Sector-32 Gurgaon – 122001
• You can fill the feedback/complaint form here

FAQs

Q. What is the maximum tenure to repay Oriental Bank of Commerce Personal Loan Scheme for Govt?”

Ans. You can repay the personal loan maximum by 60 months.

Q. How can I apply for Oriental Bank of Commerce Personal Loan offline?

Ans. To apply for Oriental Bank of Commerce Personal Loan offline, you can either contact the customer care or can visit the nearest branch.

Q. I am a teacher in a government school. Can I avail Oriental Bank of Commerce Personal Loan for Corporate?

Ans. Yes, you can avail this loan if you meet the eligibility criteria and submit the necessary documents.

Q. What is the minimum and maximum personal loan amount that I can avail from Oriental Bank of Commerce?

Ans. The minimum loan amount is Rs. 5 lakh and the maximum loan amount goes upto Rs. 10 lakh.