Oriental Bank of Commerce Personal Loan Interest Rates

Oriental Bank of Commerce offers Personal Loans at attractive interest rates for the customers for covering personal expenses such as paying the college education fees, renovating the home, wedding, buying home appliances and more. The pensioners, as well as the working individuals, can avail the benefits of this personal loan although; for availing the loan, the individual is required to provide a guarantor, security or collateral.

Personal loan interest rates by OBC:

Depending on the applicant’s credit history, monthly income, inflation, repo rate, etc, the bank will charge the interest rates on personal loans. The loan repayment option includes EMIs for flexible payments.

Particulars

Salaried

Self-employed

Rate of interest

11.80% yearly

11.80% yearly

Loan Amount

Maximum: Rs.5 lakhs

Maximum: Rs.5 lakhs

Loan period

Minimum: 180 Days

Maximum: 60 months

Minimum: 365 Days

Maximum: 60 months

EMI (Lowest)

Rs.2214.35/- per Rs.1 lakh loan amount (applicable for the maximum tenure of lowest loan amount)

Rs.2214.35/- per Rs.1 lakh loan amount (applicable for the maximum tenure of lowest loan amount)

Processing charges

minimum of Rs.500 with 0.50% of the loan amount + GST

minimum of Rs.500 with 0.50% of the loan amount + GST

Age

Minimum: 21 years

Maximum: 60 years

Minimum: 21 years

Maximum: 60 years

Prepayment fee

None

None

Foreclosure fee

Nil

Nil

Important factors to keep in mind about the interest rates charged on personal loan by OBC:
  • The interest rates charged on personal loans are fixed, and you are required to pay it throughout your loan term.
  • Depending on OBC’s base lending rate the floating rate will change, and simultaneously, with the changing rate, the EMI rate will change.
  • Security, collateral or a guarantor is required to avail the personal loan.
  • The interest rates will go up as soon as the RBI rates go up.

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