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About Oriental Bank of Commerce
Oriental Bank of Commerce Indore Branches
Products Offered by Oriental Bank of Commerce In Indore
Basic Details of Oriental Bank of Commerce Loans in Indore
Documents Required to Obtain Oriental Bank of Commerce in Indore
Oriental Bank of Commerce Indore
Last Updated : Feb. 28, 2017, 12:36 p.m.
About Oriental Bank of Commerce
Oriental Bank of Commerce (OBC), a public sector bank engaged in the business of deposits and advances, has a rich history for the readers to read about. The timing of the bank’s foundation was extraordinary as Raja Bahadur Lala Sohan Lal established it in 1943 when the entire country was battling against the British regime for freedom. The moment India got free from the British rule the Partition happened, which forced the bank to transfer its Lahore office to Amritsar.
It was a test for the bank but not bigger than what it faced during the lull phase of 1970-76. During this period, the bank was witnessing a regular dip in the net profit, which at one point of time came to as low as ₹ 175. The situation was so scary that made Lala Karamchand Thapar, the Chairman at that time, to sell or close the bank. But the bank made a strong comeback due to the effective performance of the employees, leading to the growth of its business. The hard work paid off when the Government of India took over the bank in 1980.
The bank then went to buy two banks-Punjab Co-operative Bank and Bari Doab Bank in 1997 to add to its presence. Now the bank holds prominence in retail banking, corporate banking, international banking, MSME Banking, rural banking, etc.
Indore, a premier location in the state of Madhya Pradesh, has around 10 branches of Oriental Bank of Commerce. These branches have excellent support staff that can help you avail the top banking services to meet your financial needs. Want to know the address, IFSC, MICR code of the branches in Indore? The below table will provide you the same.
Oriental Bank of Commerce Indore Branches
| Branch Name | Complete Address | IFSC | MICR | Contact Detail |
|---|---|---|---|---|
| RNT Marg | 12/2 RNT Marg Chetak Centre, Indore, Madhya Pradesh-452001 | ORBC0100183 | 452022002 | 0731-2527698 |
| Sneh Nagar | 95-A, Scheme No. 47, Sneh Nagar, Madhya Pradesh-452001 | ORBC0100623 | 452022003 | 0731-4090928 |
| Scheme No-54 | B-34, Scheme No-54, Indore, Madhya Pradesh-452010 | ORBC0100788 | 452022004 | 0731-4009675 |
| Sudama Nagar | 83-A, Sudama Nagar, Madhya Pradesh | ORBC0100884 | 452022005 | 0731-2480771 |
| Y N Road | Y N Road, Madhya Pradesh-452003 | ORBC0100911 | 452022006 | 0731-2541034 |
| A B Road | Nikita Apartment, Plot No.3, R K Puram Colony, Adjoining Amaltas Hotel, A B Road, Indore-452008 | ORBC0101305 | 452022008 | 9425343720 |
| Sarv Suvidha Nagar | Simran Regency, 108, Sarv Suvidha Nagar, Indore | ORBC0101631 | 452022009 | |
| Khatiwala Tank | R-202, Khatiwala Tank, Indore | ORBC0101651 | 452022010 | |
| Sanwer Road | Oriental University Campus, Sanwer Road, District, Indore | ORBC0101697 | 452022011 | 0755-2553517 |
| Jamniya Khurd | Village Jamniya Khurd, P.O. Sanawdia, District-Indore, Madhya Pradesh-452016 | ORBC0102113 | 9425609936 | |
| Scheme 134 | 20/RC, Scheme 134, District Indore, Madhya Pradesh-452010 | ORBC0102180 | 9303613669 | |
| Venkatesh Nagar | 325, Venkatesh Nagar, New 60 FT. Road, Indore, Madhya Pradesh-452005 | ORBC0102181 | 8718864999 |
Products Offered by Oriental Bank of Commerce In Indore
You can select from a comprehensive range of products such as a home loan, car loan, personal loan , loan against property, business loan and much more. So, pick the product that can fulfill your needs at best. These loans are appropriately designed to meet your requirements. The details of the products are shown in the table below.
Basic Details of Oriental Bank of Commerce Loans in Indore
| 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 Required to Obtain Oriental Bank of Commerce in Indore
| 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 |