Oriental Bank of Commerce Gold Loan

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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 24th February 2020

Loan Amount

Rs. 50 lakhs maximum

Loan Tenure

Up to 60 months

Interest Rate

10.85% onwards

Why Choose OBC Gold loan?

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.

Features of Gold Loan OBC

  1. Indian citizens aged between 21-60 years can apply for the gold loan offered by Oriental Bank of Commerce.
  2. 50 lakhs is the maximum loan offered by the bank after pledging the gold. In case, if the applicant is using the loan for catering his/her agriculture requirements, the bank will grant up to Rs.10 lakhs as loan. However, the bank will grant the loan depending on the actual value of the gold pledged by the borrower to the bank.
  3. For availing loan against gold, Oriental Bank of Commerce will not charge any prepayment penalties from the borrower. This gives the borrower a freedom to repay the loan as soon as possible depending on his/her convenience.
  4. The security details of the pledged gold will only be provided to the borrower. The bank stores the gold ornaments under tight security and is safe with them. The borrower will get his/her pledged loan once he/she has repaid the loan to the fullest.
  5. In case if the applicant avails for the Demand Loan facility for availing the gold loan, then the applicant is required to repay the loan within one year of availing the loan.
  6. The bank will automatically renew the loan on a yearly basis if required. But this is only applicable for those who have availed overdraft facility. In case of agriculturists, their loan repayment is linked with the harvesting of crops.

Along with the mentioned documents, the applicant is also required to provide his/her two recent passport size photographs.

Oriental Bank of Commerce Gold Loan Eligibility Calculator

Gold loan eligibility may differ from one candidate to another. You can also use free-of-cost gold loan eligibility calculator at Loanbaba.com

Why Apply for Gold loan on 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.

Oriental Bank of Commerce Gold Loan Interest Rates

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.

Documents required for availing Oriental Bank of Commerce Gold Loan:

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.

Types of OBC Gold loans

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.

Gold loan Oriental Bank of Commerce FAQs

Below provided is important Oriental Bank of Commerce Gold Loan FAQs

  • addFAQs
    1. What are the Oriental Bank of Commerce Gold Loan Facilities?
    2. Type of facility


      Non-agricultural purposes

      Demand Loan



      Agricultural Purposes

      Demand Loan




      Term Loan

    3. What is the Oriental Bank of Commerce Gold Loan Security?
      • The bank will only consider availing the loan if the applicant pledges gold of range 22-24 carats.
      • The applicant can also pledge gold coins minted by Oriental Bank of Commerce weighing 20 grams per coin.
      • A borrower can only pledge up to 50 grams of gold coin.
    4. What is the OBC Gold Loan Margin?
    5. 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.

    6. What is the OBC Scale of Finance for Loan against Gold Ornaments?
    7. 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.

    8. What is the Gold Loan OBC Penal Interest?
    9. If the borrower fails to make timely repayment of the gold loan, the bank will charge penal interest.

      Up to Rs.0.25 lakhs


      From Rs.0.25 lakhs to Rs.2 lakhs


      From Rs.2 lakhs to Rs.10 lakhs


    10. What are the Gold Loan OBC Additional Charges?

    Processing Fee

    0.50% of the total loan amount + service tax

    Paperwork charges


    Prepayment charges


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 Review

Gold Loan
star star star star star 15.0/5
I have a Gold Loan with Oriental Bank of Commerce. The loan disbursement was on time and document procedure was quick. I would say it was a satisfactory experience.
Mumbai February 22, 2020
Gold Loan
star star star star star 14.0/5
I stand by with Oriental Bank of Commerce for the Gold Loan in Mumbai. My experience was nice. Verification process was also done in time and I received the amount within a short time.
Mumbai February 21, 2020
Gold Loan
star star star star star 15.0/5
Gold Loan in Pune was approved by Oriental Bank of Commerce at a great interest rate! I was able to secure the loan for a desirable tenure.
Mumbai February 17, 2020
Gold Loan
star star star star star 15.0/5
Recently Oriental Bank of Commerce approved my Gold Loan. They gave a good response and all terms and conditions were suited to my needs.
Mumbai February 14, 2020

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401, Lakhani Centrium, Sector 15, CBD Belapur, Navi Mumbai, Maharashtra 400614

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