Oriental Bank of Commerce gold loan is one of the easiest ways of fulfilling a financial requirement. Individuals requiring urgent financing for agricultural activities and other allied activities can avail the benefits of gold loan offered by Oriental Bank of Commerce (OBC). It is a form of ready finance which can be sanctioned quickly and in a hassle-free manner. The customers can use this loan for their different business ventures but not for any illegal activities or personal use.
You can find details about Oriental Bank of Commerce gold loan on Loanbaba.com, so keep a check on this page for further updated information.
Oriental Bank of Commerce Gold Loan Details Updated on 26th January 2021 | |
Loan Amount |
Rs. 50 lakhs maximum |
Loan Tenure |
Up to 60 months |
Interest Rate |
10.85% onwards |
The Oriental Bank of Commerce has attractive offer on gold loan. It charges nominal rate of interest. The loan amount can be used for desirable purpose. Loan tenure is flexible and one can get maximum amount as per the gold weight. The procedure for loan sanctioning is transparent and the bank has helped several customers fulfill their financial needs with loan against gold.
Along with the mentioned documents, the applicant is also required to provide his/her two recent passport size photographs.
Gold loan eligibility may differ from one candidate to another. You can also use free-of-cost gold loan eligibility calculator at Loanbaba.com
At Loanbaba, you can compare and apply for gold loans online. You can check out several gold loan schemes go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. The application process is simple and easy, as you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
The OBC Gold Loan interest rate charged is related to various factors. The interest rate per year starts at 10.85%. The bank has the right to change its interest rates and borrowers have to clarify with the bank about the existing bank rate.
The bank will ask the applicant to provide his/her KYC (know your Customer) documents in order to process his/her application for loan against gold. On the other hand, those who are already an existing customer with the bank will not have to provide any KYC documents.
Those who are the new customers, they will be required to provide their identity proofs (self-attested copies) like passport, Aadhar card, PAN card, ration card, rental agreement, driving license and electricity/telephone/water bill. Also, the applicant has to carry the original documents along with the self-attested copies for verification.
The bank has gold loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.
Below provided is important Oriental Bank of Commerce Gold Loan FAQs
Type of facility |
|
Non-agricultural purposes |
Demand Loan |
|
Overdraft |
Agricultural Purposes |
Demand Loan |
|
Overdraft |
|
Term Loan |
30% is the margin set when the applicant avails the gold loan from Oriental Bank of Commerce for agriculture and farming related purposes in the form of overdraft or demand loan. The margin is reduced to 25% when the value of gold ornaments is pledged as security given that it is approved by the bank appraiser. The margin becomes 50% when it is used as a term loan.
Types of Gold |
Scale of finance per gram (Net Weight) |
22 carat gold ornaments |
The bank will offer 70% of the total market value of gold as the total loan amount for the 22 carats gold ornaments provided that it has been appraised by the bank. |
If the borrower fails to make timely repayment of the gold loan, the bank will charge penal interest.
Up to Rs.0.25 lakhs |
None |
From Rs.0.25 lakhs to Rs.2 lakhs |
1% |
From Rs.2 lakhs to Rs.10 lakhs |
2% |
Processing Fee |
0.50% of the total loan amount + service tax |
Paperwork charges |
None |
Prepayment charges |
None |
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Oriental Bank of Commerce.
Oriental Bank of Commerce gold loan is one of the easiest ways of fulfilling a financial requirement. Individuals requiring urgent financing for agricultural activities and other allied activities can avail the benefits of gold loan offered by Oriental Bank of Commerce (OBC). It is a form of ready finance which can be sanctioned quickly and in a hassle-free manner. The customers can use this loan for their different business ventures but not for any illegal activities or personal use.
You can find details about Oriental Bank of Commerce gold loan on Loanbaba.com, so keep a check on this page for further updated information.
Oriental Bank of Commerce Gold Loan Details Updated on 26th January 2021 | |
Loan Amount |
Rs. 50 lakhs maximum |
Loan Tenure |
Up to 60 months |
Interest Rate |
10.85% onwards |
The Oriental Bank of Commerce has attractive offer on gold loan. It charges nominal rate of interest. The loan amount can be used for desirable purpose. Loan tenure is flexible and one can get maximum amount as per the gold weight. The procedure for loan sanctioning is transparent and the bank has helped several customers fulfill their financial needs with loan against gold.
Along with the mentioned documents, the applicant is also required to provide his/her two recent passport size photographs.
Gold loan eligibility may differ from one candidate to another. You can also use free-of-cost gold loan eligibility calculator at Loanbaba.com
At Loanbaba, you can compare and apply for gold loans online. You can check out several gold loan schemes go through all their features such as quantum of loan, amount of loan, processing fees, interest rates, and other conditions, at one page. The application process is simple and easy, as you can upload all the required documents online. Disbursal is done at the soonest, and you can keep a track of your loan application on the website.
The OBC Gold Loan interest rate charged is related to various factors. The interest rate per year starts at 10.85%. The bank has the right to change its interest rates and borrowers have to clarify with the bank about the existing bank rate.
The bank will ask the applicant to provide his/her KYC (know your Customer) documents in order to process his/her application for loan against gold. On the other hand, those who are already an existing customer with the bank will not have to provide any KYC documents.
Those who are the new customers, they will be required to provide their identity proofs (self-attested copies) like passport, Aadhar card, PAN card, ration card, rental agreement, driving license and electricity/telephone/water bill. Also, the applicant has to carry the original documents along with the self-attested copies for verification.
The bank has gold loan schemes for professionals and salaried individuals. The amount taken as loan can be used for either multiple or specific purposes.
Below provided is important Oriental Bank of Commerce Gold Loan FAQs
Type of facility |
|
Non-agricultural purposes |
Demand Loan |
|
Overdraft |
Agricultural Purposes |
Demand Loan |
|
Overdraft |
|
Term Loan |
30% is the margin set when the applicant avails the gold loan from Oriental Bank of Commerce for agriculture and farming related purposes in the form of overdraft or demand loan. The margin is reduced to 25% when the value of gold ornaments is pledged as security given that it is approved by the bank appraiser. The margin becomes 50% when it is used as a term loan.
Types of Gold |
Scale of finance per gram (Net Weight) |
22 carat gold ornaments |
The bank will offer 70% of the total market value of gold as the total loan amount for the 22 carats gold ornaments provided that it has been appraised by the bank. |
If the borrower fails to make timely repayment of the gold loan, the bank will charge penal interest.
Up to Rs.0.25 lakhs |
None |
From Rs.0.25 lakhs to Rs.2 lakhs |
1% |
From Rs.2 lakhs to Rs.10 lakhs |
2% |
Processing Fee |
0.50% of the total loan amount + service tax |
Paperwork charges |
None |
Prepayment charges |
None |
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Oriental Bank of Commerce.
Akshar Blue Chip IT Park, 703, Thane - Belapur Rd, Turbhe, Navi Mumbai, Maharashtra 400705
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