Description
About the bank
OBC stands for Oriental Bank of Commerce. It is one of the reputed banks in India established in 1943. The bank is serving the masses since pre-independence and brings forth a plethora of financial products.
Oriental Bank of Commerce Personal Loan
OBC bank offers personal loans to both salaried & self-employed individuals at competitive interest rates to ensure the interest component remains easy on the pocket and affordable. So, what are you waiting for? Get the lowest online personal loan interest rates from OBC bank at Afinoz.com, one of India’s best loan providers with amazing cashback offers. Apply online for OBC bank personal loan & get a step closure to your dreams & goals.
Interest Rate & Charges
Oriental bank of commerce personal loan interest rates | |
General-Interest Rates |
Starting from 11.50% |
Loan tenure |
1 to 5 years |
Processing Fee |
0.50% of the loan amount with a minimum of |
Repayment Period |
Minimum- 1 year or Maximum- up to 5 Years |
Minimum Income |
INR- 6000 P.M. |
Loan Amount |
Maximum- INR 3 Lakh |
Prepayment charges |
Nil |
Eligibility Criteria - OBC Personal Loan
- Age limit: Required age for oriental bank of commerce personal loan application is minimum21 years to maximum 68 years at loan maturity.
- The exit age for pensioners is 75 years.
- Service: Minimum service of 3 years, including service with the previous employer(s), if any.
- Salary: The net monthly salary should not be less than Rs 6,000/-.
- Quantum of the loan: iOne can avail a loan up to 15 months net take-home salary, subject to a maximum of Rs.1.50 Lakh. Up to 20 times net take home salary with a max of Rs.3.00 lakh in case the salary account is maintained with the OBC branch for a minimum period of 6 months or Employee undertaking to deduct and remit the due installments to the bank.
- Guarantor: To avail oriental bank of commerce personal loan one personal guarantee required preferably of a fellow employee, subject to the condition that one employee will not stand as guarantor in more than two accounts.
- CIBIL score: Credit score should be 750 or above.
Document Required- OBC Bank Personal Loan
Individuals applying for OBC personal loan should pay attention towards documentation required to get the personal loan in Oriental bank of commerce.
- Loan application form with a passport sized photographs
- Identity proof: Passport Copy/ Voters ID card/ Driving License/PAN card/Aadhar Card etc.
- Address Proof: Valid Passport/Voter’s ID card/ Ration Card/Lease Deed/ Rent agreement Copy
- Latest IT Return/Original Letter from Company/Telephone/Electricity Bill
- Age proof: PAN Card, Passport copy
- Signature Proof: PAN Card, Driver’s License, Passport copy, Banker’s attestation of Bank Account Statement
- Income details: Last 3 months’ pay slips and Form 16
- last 6 months bank account statements
Features and Benefits - OBC Personal Loan
Here are some features and benefits of taking a personal loan from the oriental bank of commerce.
- Flexible end-use of the loan amount
- Highly competitive interest rates
- Tenures available up to 60 months
- No requirement of collateral for Oriental Bank of Commerce Personal Loan
- Low processing charge
- Loan payable in easy installments
- Special offers, interest rates & nominal charges for oriental bank of commerce account holders.
- Special personal loan offers for women employees.
- Transparent procedure
- Zero prepayment charges
- Fast loan processing & disbursal