Top Banks 2024
Oriental Bank of Commerce Jammu
Last Updated : Jan. 12, 2019, 10:32 a.m.
About Oriental Bank of Commerce
Oriental Bank of Commerce (OBC) is a 74-year old banking unit with its headquarters in New Delhi, the capital of India. The bank, with more than 1,000 branches, has covered many miles to reach to where it is now. Over the years, the bank has proven itself as a reliable service provider for many of its clients that are categorized under retail, corporate, international, MSME and rural banking. The bank’s ability to develop custom products has allowed it to serve the needs at best.
It was the time of massive freedom struggle against the Britishers when the bank bursts into the scene with Raja Bahadur Lala Sohan Lal at the helm. A few years from there and the partition occurred, resulting in the unwanted shifting of the bank’s registered office in Lahore to Amritsar. The bank lost a bit of business but very soon recovered. However, the real test of survival came during 1970-76 when its profit was shrinking sharply. It almost shut the door for OBC whose Chairman, Lala Karamchand Thapar, at that time was mulling to sell or close the bank. The employees, however, were determined to turn things around and it so happened for OBC, which started getting back to the profit zone and running the business smoothly. The years of hard work bore fruit when the Government of India nationalized the bank in 1980. In a close to 2 decades time, the bank had acquired Bari Doab Bank and Punjab Co-operative Bank in 1997.
Your hilly place of Jammu is also having a decent number of OBC branches. The number of branches in the city is about 10-15. So, if you are looking for the branch details of OBC in Jammu, find out the information below.
Oriental Bank of Commerce Jammu Branches
| Branch Name | Complete Address | IFSC | MICR | Contact Detail |
|---|---|---|---|---|
| Raghunath Bazar | Raghunath Bazar, Jammu, Jammu & Kashmir-180001 | ORBC0100099 | 0191-2573810 | |
| Trikuta Nagar | 12-P Sector-4, Trikuta Nagar, Jammu, Jammu & Kashmir-180012 | ORBC0100681 | 180022003 | 0191-2472173 |
| Rehari Chungi | B.C. Road, Rehari Chungi, Jammu, Jammu & Kashmir-180005 | ORBC0100729 | 0191-2545905 | |
| Gandhi Nagar | 10 B/B Extension, Gandhi Nagar, Jammu, Jammu & Kashmir-180004 | ORBC0101017 | 180022004 | 0191-2436404 |
| Channi Himmat Housing Colony | Channi Himmat Housing Colony, Jammu, Jammu & Kashmir-180001 | ORBC0101149 | 180022005 | 0191-2460258 |
| Vijaypur | Main Chowk, Vijaypur, Jammu, Jammu & Kashmir | ORBC0101194 | ||
| Narwal | Transport Nagar, Plot No 6, Narwal, Jammu, Jammu & Kashmir | ORBC0101195 | 0191-2490401 | |
| Akhnoor | Akhnoor Exchange Road, Near Kameshwar Filling Station Akhnoor, District Jammu, Jammu & Kashmir | ORBC0101995 | 9697047022 | |
| Pata Bohri | Plot No.973, Pata Bohri, P.O. Talab Tillo, Jammu, Jammu & Kashmir | ORBC0102107 | 180022011 | 9622039999 |
Products Offered by Oriental Bank of Commerce in Jammu
Now no wish is bigger to achieve with Oriental Bank of Commerce. Through its rich vein of custom products, you can dream big and achieve the same. The products so offered consist of a personal loan, car loan , home loan, loan against property, and others. Look at the table below to find out the basic details of all these loans and more.
Basic Details of Oriental Bank of Commerce Loans in Jammu
| 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. |
Documentation for Oriental Bank of Commerce Loans in Jammu
| 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 |