Oriental Bank of Commerce Indore

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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 NameComplete AddressIFSCMICRContact Detail
RNT Marg12/2 RNT Marg Chetak Centre, Indore, Madhya Pradesh-452001ORBC01001834520220020731-2527698
Sneh Nagar95-A, Scheme No. 47, Sneh Nagar, Madhya Pradesh-452001ORBC01006234520220030731-4090928
Scheme No-54B-34, Scheme No-54, Indore, Madhya Pradesh-452010ORBC01007884520220040731-4009675
Sudama Nagar83-A, Sudama Nagar, Madhya PradeshORBC01008844520220050731-2480771
Y N RoadY N Road, Madhya Pradesh-452003ORBC01009114520220060731-2541034
A B RoadNikita Apartment, Plot No.3, R K Puram Colony, Adjoining Amaltas Hotel, A B Road, Indore-452008ORBC01013054520220089425343720
Sarv Suvidha NagarSimran Regency, 108, Sarv Suvidha Nagar, IndoreORBC0101631452022009
Khatiwala TankR-202, Khatiwala Tank, IndoreORBC0101651452022010
Sanwer RoadOriental University Campus, Sanwer Road, District, IndoreORBC01016974520220110755-2553517
Jamniya KhurdVillage Jamniya Khurd, P.O. Sanawdia, District-Indore, Madhya Pradesh-452016ORBC01021139425609936
Scheme 13420/RC, Scheme 134, District Indore, Madhya Pradesh-452010ORBC01021809303613669
Venkatesh Nagar325, Venkatesh Nagar, New 60 FT. Road, Indore, Madhya Pradesh-452005ORBC01021818718864999

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

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.

Documents Required to Obtain Oriental Bank of Commerce in Indore

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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