OBC Personal Loan

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Oriental Bank of Commerce (OBC) Personal Loan
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Lets know about OBC Personal Loan

• Oriental Bank of Commerce Personal Loan is a
  highly demanded product among borrowers to
  overcome their critical financial crisis at any
  point in time.
• One of the leading public sector bank of India.
• It comes along with attractive offers to hold the
  borrowers back in the need of financial support.
• OBC bank personal loan can be availed by both
  corporate or government employees, to meet their
  expenses like purchasing durables, electronics,
  functions, education fees, weddings, etc.

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Features Benefits

• 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 OBC Bank account holders.
• Transparent procedure.
• Zero prepayment charges.
• Fast loan processing disbursal.
• Minimal documentation.
• Offers various range of schemes to the government
  employees, corporate employees, pensioners and
  women employees.

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Eligibility Criteria for Government Employees

• The borrower should have a salary account with
  the OBC bank.
• A borrower should be a permanent and confirmed
  employee of Public Sector Undertaking (PSU) and
  Centre / State Government Department and other
  Government institutions like Universities/Colleges
  etc.
• Minimum monthly salary should be ? 10,000.
• A borrower should have a net take-home salary of
  at least 30 of gross salary after deducting the
  EMI of the proposed personal loan.
• If a borrower does not have a salary account with
  the OBC bank, then his/her gross monthly salary
  should be at least ? 50,000.

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Eligibility Criteria for Corporate Employees

• A borrower should be a permanent employee of the
  reputed corporate and other reputed
  non-government organizations/institutions
  including colleges/schools.
• The borrower should have a salary account with
  the OBC bank.
• Minimum at least 3 years of working experience
  including service with the previous employer(s),
  if any is required to avail OBC Bank personal
  loan.
• Minimum monthly income should be at least ?
  10,000.
• A borrower net takes home salary should not be
  less than 30 of gross salary after deducting the
  EMI of the proposed personal loan.
• If a borrower doesnt have a salary account with
  the bank, then the required minimum monthly
  salary is ? 50,000.

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Eligibility Criteria for Pensioners

• The pensioner age should not be more than 75
  years of age (Last Repayment Age).
• Family pensioners are also eligible for OBC Bank
  personal loan.
• If the borrower is a family pensioner, i.e. a
  person authorized to receive a pension after the
  death of the pensioner. Then the eligible age of
  the borrower should not be more than 70 years
  (Last Repayment Age) to acquire OBC Bank personal
  loan.
• The required net takes home pension should not be
  less than 50 of Gross Pension (including the
  instalment of the proposed loan).

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Documents Needed

• 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/Voters 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, Drivers License,
  Passport copy, Bankers attestation of Bank
  Account Statement
• Income details Last 3 months pay slips and Form
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• Last 6 months bank account statements.

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Tips to Improve the Chances of Getting OBC Bank
Personal Loan

• Check your Eligibility You must check your
  eligibility and EMI, before applying for OBC Bank
  personal loan. Tools like personal loan
  eligibility calculator and personal loan EMI
  calculator will help you to get insight of loan
  approval. OBC bank will only approve the personal
  loan application if a borrower meets the various
  specified eligibility conditions.
• Try to Improve the CIBIL Score A CIBIL score of
  over 700 may help a borrower to secure a personal
  loan at a good rate of interest. To improve the
  CIBIL score, a borrower should repay the existing
  debts without defaulting on the EMI payments and
  utilize the credit limit effectively.
• Repay Already Existing Loans Any outstanding
  loans or debts that may decrease the repayment
  capacity. Lenders are likely to consider this in
  deciding whether to approve the personal loan
  application or not. Thus, repaying the existing
  loans/debts can help to borrow a higher loan
  amount from OBC.

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Interest Rate Charges as per 2019
Interest Rates Starting from 11.50
Loan Tenure 1 to 5 years
Processing Fee 0.50 of the loan amount with a minimum of ? 500 Service tax, if any
Repayment Period Minimum 1 year or Maximum up to 5 Years
Minimum Income ? 6000 per month
Loan Amount Maximum ? 3 Lakh
Prepayment charges Nil
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Thank You !!!