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- Home
- Home Loan
- MCLR
- OBC Bank MCLR & Base Rate OBC Bank MCLR & Base Rate

Oriental Bank of Commerce (OBC) is a public sector bank with its headquarters in Gurugram. Offering a wide range of products from deposit accounts to insurance products, and self-banking halls, OBC is a very people friendly bank. Also recognized for disbursing loans for amounts as small as Rs.75, the PSU has propelled self-employment and increased income levels in rural areas.

Tenure | OBC MCLR Rates |
---|---|

Overnight | 7.50% |

1 Month | 7.50%. |

3 Months | 7.80% |

6 Months | 8.00% |

1 Year | 8.10% |

The MCLR Rates offered by OBC depends primarily depends on the loan tenure. The rate of interest applicable to overnight tenure loans stands at 7.50%. For one-month tenures, the interest rate applicable is also 7.50% while the rate of interest associated with three-month tenures stands at 7.80%. The MCLR rates for six-month and one-year tenures would be 8.00% and 8.10% respectively.

Loan Amount | Minimum Margin |
---|---|

Up to Rs.30 lakh | 10% |

Above Rs.30 lakh and below Rs.75 lakh | 20% |

Above Rs.75 lakh | 25% |

For home furnishing | 25% of the total cost of furnishing |

A margin is the part of the loan amount the applicant has to pay in order to avail a loan. For loans of up to Rs.30 lakh, the margin to be paid by the customer is 10%. For amounts above Rs.30 lakh and below Rs.75 lakh, the margin to be paid is 20%. And for loans above Rs.75 lakhs, the margin to be paid is 25%.

For home furnishing, the margin will be 25% of the total cost of the renovation.

Revised Date | Overnight MCLR | 1 Month MCLR | 3 Months MCLR | 6 Months MCLR | 1 Year MCLR |
---|---|---|---|---|---|

11 February 2020 | 7.50% | 7.50% | 7.80% | 8.00% | 8.15% |

10 January 2020 | 7.55% | 7.60% | 7.80% | 8.00% | 8.15% |

10 December 2019 | 7.70% | 7.75% | 7.90% | 8.05% | 8.30% |

10 November 2019 | 7.80% | 7.90% | 8.00% | 8.15% | 8.35% |

10 October 2019 | 7.85% | 7.95% | 8.10% | 8.20% | 8.35% |

10 September 2019 | 7.90% | 8.00% | 8.15% | 8.30% | 8.40% |

10 August 2019 | 8.15% | 8.20% | 8.35% | 8.45% | 8.55% |

11 July 2019 | 8.20% | 8.25% | 8.45% | 8.55% | 8.65% |

11 June 2019 | 8.30% | 8.35% | 8.50% | 8.60% | 8.70% |

13 May 2019 | 8.30% | 8.45% | 8.50% | 8.70% | 8.75% |

11 April 2019 | 8.30% | 8.45% | 8.50% | 8.70% | 8.75% |

11 March 2019 | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. | 8.70% p.a. | 8.75% p.a. |

11 February 2019 | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. | 8.70% p.a. | 8.75% p.a. |

11 January 2019 | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. | 8.70% p.a. | 8.75% p.a. |

11 December 2018 | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. | 8.70% p.a. | 8.75% p.a. |

12 November 2018 | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. | 8.70% p.a. | 8.75% p.a. |

11 October 2018 | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. | 8.70% p.a. | 8.75% p.a. |

11 September 2018 | 8.20% p.a. | 8.35% p.a. | 8.40% p.a. | 8.60% p.a. | 8.65% p.a. |

13 August 2018 | 8.20% p.a. | 8.35% p.a. | 8.40% p.a. | 8.60% p.a. | 8.65% p.a. |

11 July 2018 | 8.20% p.a. | 8.35% p.a. | 8.40% p.a. | 8.60% p.a. | 8.65% p.a. |

11 June 2018 | 8.20% p.a. | 8.35% p.a. | 8.40% p.a. | 8.60% p.a. | 8.65% p.a. |

11 May 2018 | 8.10% p.a. | 8.20% p.a. | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. |

10 April 2018 | 8.10% p.a. | 8.20% p.a. | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. |

12 March 2018 | 8.10% p.a. | 8.20% p.a. | 8.30% p.a. | 8.45% p.a. | 8.50% p.a. |

12 February 2018 | 8.10% p.a. | 8.15% p.a. | 8.20% p.a. | 8.30% p.a. | 8.35% p.a. |

11 January 2018 | 8.10% p.a. | 8.15% p.a. | 8.20% p.a. | 8.30% p.a. | 8.35% p.a. |

11 December 2017 | 8.10% p.a. | 8.15% p.a. | 8.20% p.a. | 8.30% p.a. | 8.35% p.a. |

13 November 2017 | 8.10% p.a. | 8.20% p.a. | 8.25% p.a. | 8.30% p.a. | 8.40% p.a. |

11 October 2017 | 8.10% p.a. | 8.20% p.a. | 8.25% p.a. | 8.30% p.a. | 8.40% p.a. |

11 September 2017 | 8.10% p.a. | 8.20% p.a. | 8.25% p.a. | 8.30% p.a. | 8.40% p.a. |

11 August 2017 | 8.10% p.a. | 8.20% p.a. | 8.25% p.a. | 8.35% p.a. | 8.45% p.a. |

11 July, 2017 | 8.10% p.a. | 8.20% p.a. | 8.25% p.a. | 8.35% p.a. | 8.45% p.a. |

12 June 2017 | 8.10% p.a. | 8.20% p.a. | 8.25% p.a. | 8.35% p.a. | 8.50% p.a. |

01 May 2017 | 8.25% p.a. | 8.30% p.a. | 8.45% p.a. | 8.55% p.a. | 8.60% p.a. |

03 April 2017 | 8.40% p.a. | 8.45% p.a. | 8.50% p.a. | 8.55% p.a. | 8.60% p.a. |

03 January 2017 | 8.40% p.a. | 8.45% p.a. | 8.50% p.a. | 8.55% p.a. | 8.60% p.a. |

30 November 2016 | 8.40% p.a. | 8.45% p.a. | 8.50% p.a. | 8.55% p.a. | 8.60% p.a. |

10 October 2016 | 9.10% p.a. | 9.20% p.a. | 9.25% p.a. | 9.30% p.a. | 9.40% p.a. |

01 July 2016 | 9.20% p.a. | 9.25% p.a. | 9.30% p.a. | 9.40% p.a. | 9.55% p.a. |

01 April 2016 | 9.35% p.a. | 9.40% p.a. | 9.45% p.a. | 9.50% p.a. | 9.60% p.a. |

- Individuals or the group of individuals applying need to have a stable source of income
- They have to be salaried or self-employed individuals to avail Oriental Bank Home Loan
- Should be at least 18 years of age
- Shouldn’t be older than 70 years of age in the case of a salaried individual with pension and other individuals.
- Shouldn’t be older than 60 years of age, in the case of a salaried, non-pensionable individual. In the event that the applicant’s superannuation has commenced, he will not be eligible for the loan regardless of the age.

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