Oriental Bank of Commerce Chennai
Last Updated : Sept. 5, 2018, 5:11 p.m.
About Oriental Bank of Commerce
In 1943, Raja Bahadur Lala Sohan Lal did what many would feel proud of his accomplishment. He set up a bank, which by name you hear is Oriental Bank of Commerce (OBC), in Lahore. If set up was hard to think of considering the peak in independence movement across the country at that time, the following years was nothing short of challenging. As soon as India becomes free from the British regime, the history witnessed the partition of India. Any bank, which would have encountered the most of the difficulty in that time, was OBC as its registered office was in Lahore, a part of new Pakistan. The office was shifted to Amritsar in Punjab. The business did suffer early on but came on the track. Just as everything was running smoothly, came the unexpected downtime of 1970-76, during which the bank’s profit was nosediving rapidly on account of the subdued business. The continual losses made the bank’s Chairman, Lala Karamchand Thapar, to think of either selling or closing the operation. However, the efficiency of the employees led to the revival of the bank, which from there never looked back.
In 1997, the bank had made the acquisition of Bari Doab Bank and Punjab co-operative Bank to strengthen its presence. The bank has emerged out to be a strong player when it comes to serving a wide clientele base. Doesn’t matter whether it is NRI clients or a corporate bank, the bank has won many clients through customized services and offers.
The bank operates with over 1,000 branches across India. Its operational presence is far and wide, including your city Chennai. The city houses approximately 20-30 branches of OBC. Looking to visit the nearest OBC branch in Chennai? Look at the details below.
Oriental Bank of Commerce Chennai Branches
Branch Name | Complete Address | IFSC | MICR | Contact Detail |
---|---|---|---|---|
Mount Road | 769, Spencer Plaza, Ground Floor, Mount Road, Chennai, Tamil Nadu-600002 | ORBC0100165 | 600022003 | 044-28494252 |
Armenian Street | Ispahani Begum Complex, 91, Armenian Street, Chennai, Tamil Nadu- 600001 | ORBC0100234 | 600022002 | 044-25228543 |
Nandanam | Padma Complex, 467, Anna, Salai, Nandanam, Chennai, Tamil Nadu-600035 | ORBC0100535 | 600022004 | 044-24321413 |
Moulivakkam | D No 5/88A, Kunrathur, Main Road, Moulivakkam, Chennai, Tamil Nadu | ORBC0100581 | 600022005 | 044-24826038 |
Annanagar | T-94, 3rd Avenue, Annanagar East, Chennai, Tamil Nadu | ORBC0100822 | 600022007 | 044-26289943 |
T Nagar | No1 Dr Singaravelu St, Pondy Bazar T Nagar, Chennai, Tamil Nadu-600017 | ORBC0100928 | 600022008 | 044-24353614 |
Mogappair | 4/PC.1 MMDA, Mogappair West, Chennai, Tamil Nadu | ORBC0101012 | 600022009 | 044-26534252 |
Kotturpuram | No.1, First Main Road, Kotturpuram, Chennai, Tamil Nadu-600085 | ORBC0101024 | 600022010 | 044-24474288 |
Mylapore | Dr Radhakrishna Salai, Mylapore, Chennai, Tamil Nadu-600004 | ORBC0101043 | 600022015 | 044-24998116 |
Adyar | Lattice Bridge Road, Adyar, Chennai, Tamil Nadu-600020 | ORBC0101063 | 600022018 | 044-24421459 |
Kilpauk | 824, Opposite KMC, Ponaml HG Road, Kilpauk, Chennai, Tamil Nadu- 600010 | ORBC0101065 | 600022012 | 044-26427097 |
Porur | 50/1, Old No.222, Trunk Road, Porur, Chennai, Tamil Nadu | ORBC0101102 | 600022014 | 044-24826801 |
Selaiyur | 539-Velachery Road, Selaiyur, Chennai, Tamil Nadu-600073 | ORBC0101113 | 600022016 | 044-22394217 |
Mid Corporate Branch | 121, Kilpauk Garden, Road Kilpauk, Chennai, Tamil Nadu-600010 | ORBC0101213 | 600022019 | 044-26444437 |
Perambur | No. 90, Paper Mills Road, Perambur, Chennai, Tamil Nadu-600011 | ORBC0101676 | 600022024 | 044-28493344 |
Products Offered by Oriental Bank of Commerce in Chennai
The products you can expect to receive at OBC branches in Chennai are many, including deposits and loans. You can buy your dream home via a home loan, while a brand new car would come your way via a car loan. Your wish of travelling overseas can be met via a personal loan . Business enterprises can avail business loan to run their day-to-day operation. A complete detail of all these products can be seen below.
Basic Details of Loans at Oriental Bank of Commerce in Chennai
Product | Eligibility | Loan Amount | Interest Rate | Processing Fee | Tenure |
---|---|---|---|---|---|
Home Loan | Individuals 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 capacity | 8.60%-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 Loan | Available 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 Loan | Salaried 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 ₹ 500 | Upto 7 years for new vehicles Upto 3-5 years for old vehicles |
Business Loan | Proprietorship, 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 Tax | Upto ₹ 5 crores | 11.95% p.a. | 0.50% of the loan amount plus applicable service tax | Upto 7 years |
Mortgage Loan Scheme | All 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 lakhs | 10.85% p.a. | As applicable | Upto 10 Years |
Loan Against Gold Ornaments | Individuals and proprietors | Upto ₹ 10 lakh-50 lakh | 9.60%-10.60% p.a. | As applicable | The demand loan would be liquidated within a maximum 1-year period. Renewal and review of overdraft facility after every year. |
Documents You Need to Avail Loans from Oriental Bank of Commerce in Chennai
Product | Salaried | Self-employed |
---|---|---|
Home Loan | 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 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 Loan | 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 | |
Vehicle Loan | 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 | 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 Loan | Proprietors- 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 Scheme | 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 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 Ornaments | 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 | 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 |