A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • OBC Bank MCLR 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.

    Current OBC MCLR Rate -23 Apr 2019

    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.

    Margin Table for Oriental Bank of Commerce’s Home Loan

    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.

    Oriental Bank of Commerce’s (OBC) 1 Year MCLR Rate Historical Data

    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.

    Types of Home Loans offered By OBC

    • 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%.

    OBC’s Housing Loan Eligibility Criteria

    • 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.
    Home Loan - Sitemap

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