Oriental Bank of Commerce Chandigarh

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About Oriental Bank of Commerce

Just years before the independence, India saw the emergence of a bank that has gone through its share of ups and downs to become a very established entity. The bank, named as Oriental Bank of Commerce (OBC), is a sign of resilience as things have never remained rosy for it. The bank, after few years of foundation, saw the partition and it resulted in its Lahore office shifting to Amritsar. Since its main activities were based in Lahore, the bank had a tough time coming to terms with the partition. But that didn’t shake up the bank which kept moving up the ladder. Another round of failure was lurking around when it was facing a severe decline in profits from 1970-76 period. The poor state of affairs almost brought an abrupt end to the bank. But it moved along largely on the back of efficient performance from the employees. The Government of India took over the bank in 1980, thereby starting the growth story of OBC. In 1997, the bank went to acquire Bari Doab Bank and Punjab Co-operative Bank, which led to the rise in the number of its branches in the country.

Today, it is a big name in the fields of retail banking, institutional banking, MSME banking, rural banking and even NRI banking. With an extensive line of products, the bank ensures that the needs of the customers are met at best. The customization has allowed the bank to increase its customer base with the time.

In all these years, it has also focused on expanding its presence across the country. Today, it has more than 1,000 branches across the country from a very few branches at the time of its foundation.

Chandigarh is where the bank has a decent presence with about 10-15 branches. Keen to know where these branches are located in the city? A table below is what you need to refer to. These branches have IFSC Code, MICR Code and other details as well.

Oriental Bank of Commerce Chandigarh Branches

Branch NameComplete AddressIFSCMICRContact Detail
Sector- 17-B- ChandigarhBank Square, Sector - 17 B, Chandigarh (U.T.), 160017ORBC0100038160022000172-2722617
Mani MajraSCO - 810, Mani Majra, Chandigarh (U.T.), 160101ORBC01002441600220050172-2734268
Sector 19D ChandigarhSEF 21 - 22 Sector 19D, Chandigarh (U.T.), 160019ORBC01003651600220020172-2782116
Sector 34A - ChandigarhS.C.O. - 54 - 55, Sector - 34A, Chandigarh (U.T.), 160034ORBC01006141600220080172-2606304
Sector 26 ChandigarhSCO 48 Madhya Marg, Sector 26, Chandigarh (U.T.), 160019ORBC01006181600220060172-2791735
Hotelshivalik Sec17E ChandigarhHotel Shivalik View, Sector 17 E, Chandigarh (U.T.), 160017ORBC01007441600220090172-2721235
Sector - 37 D, ChandigarhSCO 385, Sector - 37 D, Chandigarh, Chandigarh (U.T.), 160036ORBC01008741600220110172-2686222
Sector - 8C, ChandigarhSCO - 47 - 48 Sector - 8C, Madhya Marg, Chandigarh (U.T.)ORBC01011151600220180172-2541099
Sector 47 C, ChandigarhSCO 54, Sector 47 C, Chandigarh, Chandigarh (U.T.), 160047ORBC01012331600220270172-5079447
Tender Heart School Sec - 33 - BTender Heart School , Sec - 33 - B, Chandigarh (U.T.), 160022ORBC01051101600220220172-2606854

Products Offered by Oriental Bank of Commerce in Chandigarh

A growing list of products is available at Chandigarh branches of OBC. The bank offers various loans like a personal loan, car loan, home loan, mortgage loan and various other products of your choice in Chandigarh. With these loans available at affordable rates, your pocket won’t pinch. You can check the details of each products in a table below.

Basic Loan Details of Oriental Bank of Commerce in Chandigarh

ProductEligibilityLoan AmountInterest RateProcessing FeeTenure
Home LoanIndividuals or co-borrowers having an assured and regular source of earning.

Minimum age at the time of application-18 Years

Maximum age at loan maturity-60-70 years
No maximum limit. It purely depends on your income and repayment capacity8.60%-9.10% p.a.0.50% of the loan amount plus service tax as applicable.

Maximum-₹ 20,000 plus applicable service tax
Upto 30 years, including the 18-month moratorium period subject to the dwelling unit’s age
Personal LoanAvailable to public and private sector employees, along with the pensioners.

Both public and private sector employees must be confirmed with a minimum net monthly income of 10,000.

Also, the net income must not be lower than 30% of the gross income after the deduction of the proposed EMI.

Pensioners must not be over 75 years at the time of loan maturity.

Also the net amount of pension must not be 50% of the gross pension (Including the proposed loan EMI)
₹ 5-10 lakh 10.85%-11.85% p.a.0.5% of the loan amount

Minimum-₹ 500
Upto 5 years
Vehicle LoanSalaried individuals either confirmed or a 1 year of service, professionals, businessmen running their entities for atleast 2 years, agriculturist and few others are eligible. 4-Wheeler- ₹ 1 Cr

2-Wheeler-₹ 10 Lakh
8.60%-9.10% per annum for new vehicles

10.85%-11.60% per annum for second hand vehicles
0.50% of the loan amount, subject to a minimum of ₹ 500Upto 7 years for new vehicles

Upto 3-5 years for old vehicles
Business LoanProprietorship, partnership or companies involved in business activity for a minimum period of 1 year. Business should conform to the statutory requirements such as License Under Shops & Commercial Establishment Act, Registration Certificate of Sales Tax/Central Sales TaxUpto ₹ 5 crores11.95% p.a.0.50% of the loan amount plus applicable service taxUpto 7 years
Mortgage Loan SchemeAll individuals and joint borrowers who are income tax assessee for atleast 2 years in a row.

Agriculturists

Company/Proprietorship/Partnership firms are also eligible.

Net income should not be lower than 30% of the gross income after the deduction of the EMIs
Upto ₹ 10 crores, with a minimum of ₹ 5 lakhs10.85% p.a.As applicableUpto 10 Years
Loan Against Gold OrnamentsIndividuals and proprietorsUpto ₹ 10 lakh-50 lakh9.60%-10.60% p.a.As applicableThe demand loan would be liquidated within a maximum 1-year period.

Renewal and review of overdraft facility after every year.

Documentation for Oriental Bank of Commerce Loans in Chandigarh

ProductSalariedSelf-employed
Home LoanLoan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR

Passport Size Photographs of applicants and co-applicants

Property Documents-Buyer Agreement Copy/Allotment Letter, Receipt of Payment made to Property Developers
Loan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 2-3 years Profit & Loss Account Statement and Audited Balance Sheet

Passport Size Photographs of applicants and co-applicants

Property Documents-Buyer Agreement Copy/Allotment Letter, Receipt of Payment made to Property Developer
Personal LoanLoan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR

Passport Size Photographs of applicants and co-applicants
Vehicle LoanLoan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR

Passport Size Photographs of applicants and co-applicants
Loan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 2-3 years Profit & Loss Account Statement and Audited Balance Sheet

Passport Size Photographs of applicants and co-applicants
Business LoanProprietors-

Shop and establishment certificate/ VAT/ Sales Tax Registration Certificate
PAN Card

Last 2 years financials with audit report

Last 6 months Bank statement of all bank accounts

Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any

Proforma invoice of machinery, in case of Plant & Machinery Loans

Partnership Firms-

Registered partnership deed

KYC of Partners

PAN Card of Firm and Partners

Shop and establishment / VAT/ Sales Tax Registration Certificate

Last 2 year financials with audit report

Last 6 months Bank statement

Existing facility sanction letter/ Repayment Track Record of existing loans, if any

Proforma invoice of machinery, in case of Plant & Machinery Loans

Private & Public Sector Companies-

Memorandum of Association(MOA) / Articles of Association(AOA)

Latest shareholding pattern

KYC of Directors

PAN Card of the Company and Directors

Last 2 years financials with audit report

Last 6 months Bank statement of all bank accounts

Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any

Proforma invoice of machinery, in case of Plant & Machinery Loans

Declaration that borrower, Company or any of its Directors are not debarred / black listed / penalized by any Stock Exchanges / SEBI/ RBI. A Declaration that the proposed borrowing is within the limits prescribed u/s 293(1)(d) of the Companies Act, 1956
Mortgage Loan SchemeLoan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR

Passport Size Photographs of applicants and co-applicants

Equitable Mortgage of the Property Financed
Loan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 2-3 years Profit & Loss Account Statement and Audited Balance Sheet

Passport Size Photographs of applicants and co-applicants

Equitable Mortgage of the Property Financed
Loan Against Gold OrnamentsLoan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR

Passport Size Photographs of applicants and co-applicants
Loan Application Form

Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport

Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID

Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR

Passport Size Photographs of applicants and co-applicants

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