Oriental Bank of Commerce Kochi
Last Updated : Feb. 28, 2017, 6:21 p.m.
About Oriental Bank of Commerce
When it comes to naming the bank that has handled itself well despite the adversities at large, Oriental Bank of Commerce (OBC) would come at the top. Ever since the inception, the bank has been facing obstacles. The bank was founded in 1943 by Raja Bahadur Lala Sohan Lal in Lahore. It was making good strides and suddenly the partition of India happened only to take its registered office from Lahore to Amritsar. The bank recovered soon after a brief spell of the poor business environment. However, the real trouble was yet to come. In 1970-76, the bank was almost shut due to the rapidly declining profits, which even fell to the level of ₹ 175. Understandably, the situation was daunting for the bank. Once again, the bank bounced back powered by the efficient employee performance. And soon, the bank tasted the real success when the Government of India recognized its potential and nationalized it in 1980.
Ever since the nationalization happened, the bank saw growth coming in all its business segments, be it the corporate banking, retail banking, NRI Banking, rural banking. In its journey that has spanned over 70 years, the bank also managed to acquire Punjab Co-operative Bank and Bari Doab Bank. The acquisition had resulted in enhancing the bank’s size of the operation.
Kochi, a coastal location in the state of Kerala, does have branches of OBC. There are a couple of branches you can look to visit and avail the services. Want to know the branches that can offer you the banking services in your city Kochi? Look below and find one for you.
Oriental Bank of Commerce Kochi Branches
| Branch Name | Complete Address | IFSC | MICR | Contact Detail |
|---|---|---|---|---|
| Panyapally | Gautam Hospital, Panyapally, Kochi, Kerala-682005 | ORBC0101008 | 682022003 | 0484-2221591 |
| S.A. Road | ABM Complex, Manorama, Junction, S.A. Road, Kochi, Kerala | ORBC0101141 | 682022005 | 0484-2319292 |
Products Offered by Oriental Bank of Commerce in Kochi
Is travelling Europe your dream? Itching to buy a car of your choice? Are you looking to buy a property in Kochi? You can find out the answers to these questions by choosing from a wider array of products, including a personal loan, car loan, home loan , loan against property, loan against gold ornaments. Before you go all out to pick a product, a thorough look at the details would be needed, right! So, what are you waiting for? Just sneak through the table below.
Basic Details of Oriental Bank of Commerce Loans in Kochi
| 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 Needed to Avail Loans from Oriental Bank of Commerce in Kochi
| 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 |