If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • Oriental Bank of Commerce (OBC) Car Loan Eligibility Calculator is Rated as "Great!" by 353 Users

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    Oriental Bank of Commerce (OBC) Car Loan Eligibility Calculator

    Oriental Bank of Commerce Car Loan Overview

    Oriental Bank of Commerce makes owning a car very easy by offering an affordable vehicle loan scheme with competitive interest rates and higher loan amounts. The Oriental car loan scheme can be procured for all types of four-wheelers and two-wheelers, irrespective of the make and model. Oriental Bank of Commerce also offers car loans at a concessional rate of 0.25% depending on the banking relationship of existing OBC customers, OBC home loan borrowers and OBC employees. OBC vehicle loans can be repaid with flexible tenures ranging up to 84 months and can be decided as per the requirements of borrowers.


    Oriental Bank of Commerce Car Loan Eligibility

    • Salaried individuals should be permanently employed at a reputed organisation for a minimum of 1 year to qualify for an OBC car loan. Previous work experience can also be considered to fulfill this requirement.
    • Self-employed professionals like doctors can also apply for an Oriental Bank of Commerce car loan.
    • Business organisations are eligible to apply, provided they have been in business for atleast a period of two years.
    • Agriculturists can also apply and OBC will sanction car loans depending on their repayment capability and land holdings.
    • Non-resident Indians (NRIs) need to apply for an Oriental Bank of Commerce car loan as a joint application along with a resident Indian, who has to be a close relative.
    • Applicants for four-wheeler loans need to furnish a minimum gross income of Rs 20,000/- per month.
    • The eligible loan amount for salaried individuals, professionals and pensioners will be calculated based on the monthly gross income and the pension amount of an applicant. Up to 30 months’ gross salary would be sanctioned provided the net take home after deductions meets the requisite criteria. Businesses should furnish sufficient cash flow for assured loan repayments.
    • Joint applications can be made to improve the eligibility or net take home amount by adding your spouse and other family members.
    • Salaried non-pensionable individuals can be aged up to a maximum of 60 years when they repay the car loan.
    • Salaried individuals with pension can be aged up to a maximum of 65 years when they repay the car loan.
    • Businessmen and professionals do not have an age limit criteria when they opt for a particular loan tenure.
    Apply for Car Loan Online

    Factors affecting Oriental Bank of Commerce Car Loan Eligibility

    Oriental Bank of Commerce sanctions car loans only after an applicant fulfills the required eligibility criteria. There are a few factors which can majorly affect an applicant’s eligibility criteria. Here are a few aspects that banks generally consider while approving a loan.

    Profession - The eligibility criteria for an applicant sometimes varies depending on the profession the individual is engaged in. Banks require applicants to be in a profession with a steady income, with sufficient funds to repay the car loan.

    CIBIL Score - Having a good CIBIL score is very important for any individual planning on taking any kind of loan. Individuals who are able to efficiently manage their liabilities and pay bills on time always carry a good credit score. Car loan approvals are easy to get when you have a good credit history. On the other hand, a low score only brings down your chances of getting quick and hassle-free sanctions.

    Age - Most banks always have an age limit, while approving a car loan. Applicants who still have sufficient working years ahead of them, might get quick sanctions but individuals nearing retirement age might not get higher amounts approved. Banks generally consider the repayment capacity of an applicant while approving a car loan and ensure that individuals have the financial strength to repay the loan comfortably.

    How do you increase your eligibility for an Oriental Bank of Commerce Car Loan?

    • Make joint applications along with your family members like spouse, parents or siblings, so that the co-applicant’s income can also be considered to improve the eligibility. This will help you get sanctions for higher loan amounts.
    • When you apply for a new loan, make sure you don’t carry forward any extra liabilities or debts. If possible, pay off all your pending loans and debts, so that your eligibility for a new OBC car loan increases drastically.
    • Showing extra sources of income and savings might help you get higher loan amounts from banks, as this assures the lender that the applicant can comfortably repay the car loan.

    Oriental Bank of Commerce Car Loan Eligibility Calculators

    Car loan eligibility calculators have been designed specially to help prospective borrowers understand if they fulfill the eligibility criteria when they avail a particular bank loan. These tools require only few inputs and customers can have their eligibility calculated in a matter of seconds. Customers need to enter details like name, date of birth, make or model of the car, profession, income and on-road price into the car loan emi calculator. Based on these inputs, the tool displays information with regards to an applicant’s eligibility for an Oriental Bank of Commerce car loan.

    Oriental Bank Of Commerce Car Loan Reviews

    • Oriental Bank of Commerce Car Loan
      "It Could Have Been More Better "
      0.5 1.5/5 "Bad"
      I am happy with the experience i had with oriental bank of commerce . The bank was not giving a full approval for the amount i asked for the loan . The Customer service was good but it could have been the best one i felt that . They did not provide it saying its against the policy . They directly said no they did not give it a try for once also . The Documents were collected for the loan process . But i did not avail for the loan .
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • Oriental Bank of Commerce Car Loan
      "Better"
      0.5 4.0/5 "Great!"
      I had applied for a car loan with Oriental Bank through online channel. They have requested for 3 year IT details. Since I don't have the documents, its been cancelled. The customer service and response is good. They have contacted me on time and provided the necessary information. There is no processing fee. ROI is 9%, it is nominal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 08, 2017
    • Oriental Bank of Commerce Car Loan
      "Little high Rate of interest"
      0.5 3.0/5 "Satisfactory"
      I had a decent experience with Oriental Bank in regards to the Car Loan appliaction I filed with them. They responded pretty neatly. Only thing I found the rate of Inrterest of 11 % looks a little on higher end. They could decrease their Interest rate a little.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 29, 2017
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I didn't got the car loan from Oriental bank of Commerce, because I got better option from other banks, so that was the reason I haven't processed my car loan with Oriental bank of commerce. The rate of interest is 9.24% which is nominal when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 23, 2017
    • Oriental Bank of Commerce Car Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the car loan from Oriental Bank of Commerce, i did not take tha loan bacause they were not giving the loan which i requested for. The customer service was good and responsive, they called me freqeuntly for followup. The rate of interest is less when compared to all other banks.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 23, 2017
    • Oriental Bank of Commerce Car Loan
      "Good customer service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the car loan from Oriental Bank of Commerce, i did not get the loan because i changed my plan to get the loan. When it comes to customer service, it was good and they were responsive, The rate of interest is very less when compared to all other banks and i have also recommended few of my friends for the car loan.
      Was this review helpful? 0
      , amritsar
      Reviewed on Oct 21, 2017
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      The car loan process is not up to the mark with oriental bank of commerce. The customer support didn't gave proper response in regards to my car loan application. The rate of interest is nominal with oriental bank of commerce when compared with others.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Oct 17, 2017
    • Oriental Bank of Commerce Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The service was good with oriental bank of commerce, I have postponed the car loan plan to the next year. The rate of interest is low with oriental bank of commerce. At present I am looking for the personal loan so that was the reason I haven't got the loan from Oriental bank of Commerce.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 16, 2017
    • Oriental Bank of Commerce Car Loan
      "excellent"
      0.5 4.5/5 "Excellent!"
      I have applied for my car loan with ORIENTAL bank. Their rate of interest was between 8-9% which was satisfactory and average in the market for 20 lakhs. The customer service and responses was also good but I have cancelled the application due to my personal reason . My overall experience was excellent.
      Was this review helpful? 0
      , new delhi
      Reviewed on Oct 15, 2017
    • Oriental Bank of Commerce Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      They called me on time i can say it was a good customer service from the Oriental Bank of India from the bank side . The rate of interest given from the bank side was real low about 7% i really liked it and processing fee was not told to me . I kept it on hold from my side due to some problem . Rest everything i should say is fine .
      Was this review helpful? 0
      , kochi
      Reviewed on Oct 14, 2017
    • Oriental Bank of Commerce Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I postponed my plans in buying a vehicle for the next couple of months and I cancelled my application for the car loan with OBC. The bank done a good job by contacting me on time and informing me the details. I closed this bank because they had a good deal on the interest rate.
      Was this review helpful? 0
      , noida
      Reviewed on Oct 09, 2017
    • Oriental Bank of Commerce Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      Everything was fine with Oriental Bank of Commerce. They were happy to serve for my car loan They were very quick in contacting me and informing me the details. I did proceed ahead with them and the rate of interest was 9.10%. Without any charges they have just stamp duty for 300 to 400 rupees and I have done the down payment of 3 laks.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 29, 2017
    • Oriental Bank of Commerce Car Loan
      "Very good car loan"
      0.5 4.0/5 "Great!"
      Three months back, I had taken a car loan from HDFC based on the previous track records and that was the reason why I had not taken loan from OBC. Otherwise Service provided by OBC was very good, interest rate offered by OBC was very much reasonable and processing fee charged by them was normal too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 22, 2017
    • Oriental Bank of Commerce Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I was not ready for the loan process ,during the loan process itself I got money for buying car . So I was not needed with loan after that,even the representatives of ORIENTAL bank was very responsible during my loan process when ever I contact customer service they will be very helpful and friendly and given lot of ideas regarding loan ,I can say overall service was excellent but they where not clear with some information's other than that everything was excellent from the service of ORIENTAL bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 18, 2017
    • Oriental Bank of Commerce Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was an good service from ORIENTAL BANK from the date I applied for my loan ,representatives of ORIENTAL bank was also very helpful and responsible , when ever I contact their customer service they where very helpful for me during my loan process . Even when it comes to interest rate it was fine I was comfortable ,but I had some personal reason in processing for not processing my loan request further. I can say the overall service was very good .
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 18, 2017
    • Oriental Bank of Commerce Car Loan
      "Excellent site"
      0.5 5.0/5 "Blown Away!"
      In no time my car loan was sanctioned by OBC, I am completely happy with their service. They deserve the best rating for all parameters of course their executives were really nice. I had requested for 4 lakhs loan amount the bank was able to provide the same . Also the dealer took around 2 months to deliver the car . I had infact recommended this car loan to others,
      Was this review helpful? 0
      , jalandhar
      Reviewed on Sep 05, 2017
    • Oriental Bank of Commerce Car Loan
      "SATISFACTORY"
      0.5 3.0/5 "Satisfactory"
      Actually I was looking for second hand car and the car was not available in the same state the bank said if your interested you can from other state the same car which our looking that is available But I did not proceed further. So I had canceled my car loan request at OBC. The bank was fast in providing the response and they informed me all the details as well.
      Was this review helpful? 0
      , faridabad
      Reviewed on Aug 31, 2017
    • Oriental Bank of Commerce Car Loan
      "Looking for a better offer"
      0.5 3.0/5 "Satisfactory"
      There is miscommunication between bank and me, I was looking for 80% of funding but Oriental Bank of Commerce not accepted to sanction the requested amount . They were not fulfill my needs and also I felt their service was not upto the mark, they should work on it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 31, 2017
    • Oriental Bank of Commerce Car Loan
      "OBC is good even their employees"
      0.5 5.0/5 "Blown Away!"
      In all the aspects OBC is doing well, they had processed my loan very fast. The turn around time taken to process the loan was hardly 2 days. I had shortlisted the car Toyota Dx Model and the bank has sponsored 15 lakhs 80% of the ex showroom price was offered and interest rate offered by OBC was very good
      Was this review helpful? 0
      , nagpur
      Reviewed on Aug 29, 2017
    • Oriental Bank of Commerce Car Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      My car loan is from Oriental Bank of Commerce. The services for this process was excellent. They offered me a good deal on the interest rate and it was a zero processing fee. The process to get the loan is good and the documentation is normal too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 28, 2017
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