Oriental Bank of Commerce Jammu

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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 NameComplete AddressIFSCMICRContact Detail
Raghunath BazarRaghunath Bazar, Jammu, Jammu & Kashmir-180001ORBC01000990191-2573810
Trikuta Nagar12-P Sector-4, Trikuta Nagar, Jammu, Jammu & Kashmir-180012ORBC01006811800220030191-2472173
Rehari ChungiB.C. Road, Rehari Chungi, Jammu, Jammu & Kashmir-180005ORBC01007290191-2545905
Gandhi Nagar10 B/B Extension, Gandhi Nagar, Jammu, Jammu & Kashmir-180004ORBC01010171800220040191-2436404
Channi Himmat Housing ColonyChanni Himmat Housing Colony, Jammu, Jammu & Kashmir-180001ORBC01011491800220050191-2460258
VijaypurMain Chowk, Vijaypur, Jammu, Jammu & KashmirORBC0101194
NarwalTransport Nagar, Plot No 6, Narwal, Jammu, Jammu & KashmirORBC01011950191-2490401
Akhnoor Akhnoor Exchange Road, Near Kameshwar Filling Station Akhnoor, District Jammu, Jammu & KashmirORBC01019959697047022
Pata BohriPlot No.973, Pata Bohri, P.O. Talab Tillo, Jammu, Jammu & KashmirORBC01021071800220119622039999

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

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.

Documentation for Oriental Bank of Commerce Loans in Jammu 

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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