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- Home Loan
- 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 | 8.30% p.a. |

1 Month | 8.45% p.a. |

3 Months | 8.50% p.a. |

6 Months | 8.70% p.a. |

1 Year | 8.75% p.a. |

The MCLR Rates offered by OBC depends primarily depends on the loan tenure. The rate of interest applicable to overnight tenure loans stands at 8.30%. For one month tenures, the interest rate applicable is 8.45% while the rate of interest associated with three-month tenures stands at 8.50%. The MCLR rates for six-month and one-year tenures would be 8.70% and 8.75% 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 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. |

- Housing loan
- Home furnishing loan

**Oriental Bank of Commerce interest rates table for up to 2 houses***

Category Of Loan | Margin | OBC interest rates |
---|---|---|

Category Of Loan | Margin | OBC interest rates |

Up to Rs.30 lakh | >= 20% | 1 year MCLR = 8.65% |

>= 10% and < 20% | 1 year MCLR + 0.10% = 8.75% | |

Above Rs.30 lakh up and to Rs.75 lakh | >= 25% | 1 year MCLR = 8.65% |

>= 20% and < 25% | 1 year MCLR + 0.10% = 8.50% | |

Above Rs.75 lakh | >= 25% | 1 year MCLR = 8.65% |

For loans up to Rs.30 lakh with a margin of greater than or equal to 20%, the rate of interest applicable will be 8.65% p.a., the same as the one-year MCLR of OBC. For loans up to Rs.30 lakh with a margin of greater than or equal to 10% and less than 20%, the ROI applicable will be 8.75% p.a. The rate of interest for loans above Rs.30 lakh and up to Rs.75 lakh with a margin greater than or equal to 25% stands at 8.65%. The rate of interest for the same amount with a margin greater than or equal to 20% and less than 25% is 8.50%. For loans above Rs.75 lakh and a margin greater than or equal to 25%, the rate of interest applicable is 8.65%.

Happiness is buying your dream home. Are you living the dream yet? Explore Home Loans

- 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
- Shouldnâ€™t be older than 70 years of age in the case of a salaried individual with pension and other individuals.
- Shouldnâ€™t be older than 60 years of age, in the case of a salaried, non-pensionable individual. In the event that the applicantâ€™s superannuation has commenced, he will not be eligible for the loan regardless of the age.

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