Oriental Bank of Commerce Home Loan

About Oriental Bank of Commerce Home Loan

An Indian based bank established in Lahore, it would not be wrong to say that Oriental Bank of Commerce is surely one of the most reliable and trustworthy banks of the country. Today, it is considered as one of the leading public sector banks in India, best known for offering the impeccable services and products related to financial world. Being founded in the year 1943 with a vision and mission to offer the best experience to all its esteemed customers around the world, this bank is here to stay. With its exclusive range of financial products, this lender ensures that you get an enjoyable banking experience.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    If we talk more about the products being offered by this renowned lender, how can home loan be missed? Yes, the bank offers this credit facility to those who are in urgent need of funds so as to buy their dream home. The bank is offering this credit facility at attractive rates, flexible tenures, minimal fee and charges, hence grabbing the attention of many. It ensurse that your dream of owning a beautiful home can easily be fulfilled. However, to know more about Oriental Bank of Commerce Home Loan, take a look at the page below.

    Oriental Bank of Commerce Interest Rates


    Interest Rates

    6.75% - 7.80%
    Loan Amount
    As per bank’s norms


    Up to 30 Years

    Processing Fee

    0.50% of the loan amount

    Oriental Bank of Commerce Eligibility Criteria

    If you want to avail the home loan from OBC,it is important that you should be aware of the eligibility criteria so as to proceed ahead. So go through the page below to know about the same.

    • Salaried/self-employed persons/self-employed professionals/ businessmen/farmers/ are eligible to apply for a home loan.
    • An applicant must be 18 years of age at the time of availing a loan.
    • If you are a salaried pensioner, your age should not be more than 70 years.
    • If you are a salaried non-pensioner, your age should not be more than 60 years.
    • An individual should have a regular source of income.

    Oriental Bank of Commerce EMI Calculator

    Knowing your EMIs and interest outgo is now no more a hassle as Oriental Bank of Commerce with its EMI Calculator is here to help. This smart, time-saving and useful tool with its simple algorithm, fastest process and easy to use formula allows you to know the exact calculations of your monthly installments in the hassle-free manner. Within few seconds, it displays the results in front of your screen and ensures that you get the calculations in the least time frame. All you need to do is just enter the loan amount, tenure and interest rate of your loan into the device so that it will churn out the results for you in the best possible way. This tool functions so fast and it comes with the accessibility that you can easily use the same anytime, anywhere.

    Let’s just take a look at the page below to understand more about an EMI Calculator with the help of an example.

    Suppose, Naman Gupta, 32 year-old Senior Manager in a  Financial Company is looking for a home loan of ₹30 Lakh. OBC after evaluating his profile has agreed to offer him the same loan amount at an interest rate of 8.60% per annum for 10 years. But before saying yes to a lender, Naman wants to know his EMIs, Interest Outgo and Total Amount Payable on overall home loan journey. Just take a look at the table below to know about the calculations.

    Table Showing EMI, Interest Outgo, and Total Repayment Amount

    Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
    ₹ 30,00,0008.60%1₹ 2,61,798₹ 1,41,579₹ 31,41,579
    ₹ 30,00,0008.60%2₹ 1,36,504₹ 2,76,103₹ 32,76,103
    ₹ 30,00,0008.60%3₹ 94,842₹ 4,14,301₹ 34,14,301
    ₹ 30,00,0008.60%4₹ 74,087₹ 5,56,158₹ 35,56,158
    ₹ 30,00,0008.60%5₹ 61,694₹ 7,01,657₹ 37,01,657
    ₹ 30,00,0008.60%6₹ 53,483₹ 8,50,773₹ 38,50,773
    ₹ 30,00,0008.60%7₹ 47,660₹ 10,03,478₹ 40,03,478
    ₹ 30,00,0008.60%8₹ 43,331₹ 11,59,738₹ 41,59,738
    ₹ 30,00,0008.60%9₹ 39,995₹ 13,19,513₹ 43,19,513
    ₹ 30,00,0008.60%10₹ 37,356₹ 14,82,762₹ 44,82,762

    EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

    YearPrincipalInterestBalance Amount
    1₹ 1,97,958₹ 2,50,318₹ 28,02,041
    2₹ 2,15,670₹ 2,32,606₹ 25,86,371
    3₹ 2,34,966₹ 2,13,310₹ 23,51,405
    4₹ 2,55,989₹ 1,92,287₹ 20,95,415
    5₹ 2,78,893₹ 1,69,383₹ 18,16,522
    6₹ 3,03,846₹ 1,44,430₹ 15,12,675
    7₹ 3,31,032₹ 1,17,244₹ 11,81,643
    8₹ 3,60,650₹ 87,626₹ 8,20,992
    9₹ 3,92,918₹ 55,357₹ 4,28,073
    10₹ 4,28,339₹ 20,202₹ 0

    Documentation Required for Oriental Bank of Commerce

    • Loan application Form
    • Passport size photograph of applicant, co-applicant & guarantor
    • Identity proof
    • Residence Proof
    • Age proof
    • Income Proof
    • For Salaried: Salary certificate issued by the employer / Income Tax return
    • For Agriculturist: Record of landholding & cropping pattern or any other proof of income.
    • For all Other Individuals: Last 2 yrs. Income Tax Return & computation sheet / Bank A/C statement.
    • Property Documents : Title clearance report from advocate and valuation report from architect on Bank’s panel
    • In Case of Takeover: Copy of home loan account statement for the entire period / Certificate from the lending institution giving pre-closure amount
    • Any other document/paper which may be necessary as per requirement of the case.

    Features & Benefits of Oriental Bank of Commerce

    • Attractive Interest Rates
    • Fastest Approval
    • Doorstep Delivery
    • Flexible Tenures
    • Easy Documentation
    • Simple Process

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