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OBC Personal Loan

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OBC bank personal loan can be availed by both corporate or government employees, to meet their expenses like purchasing durables, electronics, functions, education fees, weddings, etc. – PowerPoint PPT presentation

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Date added: 11 September 2019
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Title: OBC Personal Loan


1
Oriental Bank of Commerce (OBC) Personal Loan
2
Lets know about OBC Personal Loan
  • Oriental Bank of Commerce Personal Loan is a
    highly demanded product among borrowers to
    overcome their critical financial crisis at any
    point in time.
  • One of the leading public sector bank of India.
  • It comes along with attractive offers to hold the
    borrowers back in the need of financial support.
  • OBC bank personal loan can be availed by both
    corporate or government employees, to meet their
    expenses like purchasing durables, electronics,
    functions, education fees, weddings, etc.

3
Features Benefits
  • Flexible end-use of the loan amount.
  • Highly competitive interest rates.
  • Tenures available up to 60 months.
  • No requirement of collateral for Oriental Bank of
    Commerce Personal Loan.
  • Low processing charge.
  • Loan payable in easy installments.
  • Special offers, interest rates nominal charges
    for OBC Bank account holders.
  • Transparent procedure.
  • Zero prepayment charges.
  • Fast loan processing disbursal.
  • Minimal documentation.
  • Offers various range of schemes to the government
    employees, corporate employees, pensioners and
    women employees.

4
Eligibility Criteria for Government Employees
  • The borrower should have a salary account with
    the OBC bank.
  • A borrower should be a permanent and confirmed
    employee of Public Sector Undertaking (PSU) and
    Centre / State Government Department and other
    Government institutions like Universities/Colleges
    etc.
  • Minimum monthly salary should be ? 10,000.
  • A borrower should have a net take-home salary of
    at least 30 of gross salary after deducting the
    EMI of the proposed personal loan.
  • If a borrower does not have a salary account with
    the OBC bank, then his/her gross monthly salary
    should be at least ? 50,000.

5
Eligibility Criteria for Corporate Employees
  • A borrower should be a permanent employee of the
    reputed corporate and other reputed
    non-government organizations/institutions
    including colleges/schools.
  • The borrower should have a salary account with
    the OBC bank.
  • Minimum at least 3 years of working experience
    including service with the previous employer(s),
    if any is required to avail OBC Bank personal
    loan.
  • Minimum monthly income should be at least ?
    10,000.
  • A borrower net takes home salary should not be
    less than 30 of gross salary after deducting the
    EMI of the proposed personal loan.
  • If a borrower doesnt have a salary account with
    the bank, then the required minimum monthly
    salary is ? 50,000.

6
Eligibility Criteria for Pensioners
  • The pensioner age should not be more than 75
    years of age (Last Repayment Age).
  • Family pensioners are also eligible for OBC Bank
    personal loan.
  • If the borrower is a family pensioner, i.e. a
    person authorized to receive a pension after the
    death of the pensioner. Then the eligible age of
    the borrower should not be more than 70 years
    (Last Repayment Age) to acquire OBC Bank personal
    loan.
  • The required net takes home pension should not be
    less than 50 of Gross Pension (including the
    instalment of the proposed loan).

7
Documents Needed
  • Loan application form with a passport sized
    photographs
  • Identity proof Passport Copy/ Voters ID card/
    Driving License/PAN card/Aadhar Card etc.
  • Address Proof Valid Passport/Voters ID card/
    Ration Card/Lease Deed/ Rent agreement Copy
  • Latest IT Return/Original Letter from
    Company/Telephone/Electricity Bill
  • Age proof PAN Card, Passport copy
  • Signature Proof PAN Card, Drivers License,
    Passport copy, Bankers attestation of Bank
    Account Statement
  • Income details Last 3 months pay slips and Form
    16
  • Last 6 months bank account statements.

8
Tips to Improve the Chances of Getting OBC Bank
Personal Loan
  • Check your Eligibility You must check your
    eligibility and EMI, before applying for OBC Bank
    personal loan. Tools like personal loan
    eligibility calculator and personal loan EMI
    calculator will help you to get insight of loan
    approval. OBC bank will only approve the personal
    loan application if a borrower meets the various
    specified eligibility conditions.
  • Try to Improve the CIBIL Score A CIBIL score of
    over 700 may help a borrower to secure a personal
    loan at a good rate of interest. To improve the
    CIBIL score, a borrower should repay the existing
    debts without defaulting on the EMI payments and
    utilize the credit limit effectively.
  • Repay Already Existing Loans Any outstanding
    loans or debts that may decrease the repayment
    capacity. Lenders are likely to consider this in
    deciding whether to approve the personal loan
    application or not. Thus, repaying the existing
    loans/debts can help to borrow a higher loan
    amount from OBC.

9
Interest Rate Charges as per 2019
Interest Rates Starting from 11.50
Loan Tenure 1 to 5 years
Processing Fee 0.50 of the loan amount with a minimum of ? 500 Service tax, if any
Repayment Period Minimum 1 year or Maximum up to 5 Years
Minimum Income ? 6000 per month
Loan Amount Maximum ? 3 Lakh
Prepayment charges Nil
10
Thank You !!!
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