Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 Oriental Bank of Commerce (OBC) Personal Loan Eligibility Calculator
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.65% - 11.65% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time : Within 30 minutes
    Guarantor Required Paperless approval available
    What you'll love
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    Perks
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    Good to Know
    Eligibility Criteria
    Oriental Bank of Commerce (OBC) Personal Loan Eligibility Calculator is Rated as "Pretty good" by 66 Users

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    Oriental Bank of Commerce (OBC) Personal Loan Eligibility Calculator

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    About Oriental Bank of Commerce Personal Loan

    Oriental Bank of Commerce is a private sector bank in India and was established in Lahore. The bank offers personal loan to the government employees and for the corporate employees to meet personal expenses or expenses like marriage, education and family functions or to purchase consumer durables. The Oriental Bank of Commerce offers attractive rates of interest and flexible personal loan amount with nominal documentation and easy repayments. The maximum loan amount offered is Rs.5 lakhs and Rs.2 lakhs for the pensioners. Guarantor is required to avail an Oriental Bank of Commerce personal loan. The term to repay the loan for working borrower is 60 EMIs and for pensioners it is 36 EMIs and to be repaid before they turn 70 years of age.

    Oriental Bank of Commerce Personal Loan Eligibility

    The eligibility to avail Oriental Bank of Commerce personal loan is as follows:

    • For working applicants:

    • Profile: The applicant must be a permanent employee of a Public Sector Undertaking or centre or state government department and other government institutions like universities or college whose salaries are being credited with Oriental Bank of Commerce.
    • Age: The applicant must be above 21 years of age.
    • Salary: The applicant’s net monthly salary must not be less than Rs.10,000.
    • Conditions: The net take home salary should not be less than 30% of gross salary after the EMI for the proposed loan is deducted.
    • For Pensioners:

    • Age: The applicant’s age must not exceed 68 years.
    • Profile: The pensioners of Oriental Bank of Commerce are also eligible to the loan provided they don’t have any disciplinary actions pending against them.
    • Conditions: The net take home pension should not be less than 50% of the gross pension after the EMI instalment for the proposed loan is deducted.

    Factors affecting Oriental Bank of Commerce Personal Loan Eligibility

    There are various factors that affect the eligibility criteria while taking a personal loan from RBL Bank.

    • Residence: The chances of the loan being sanctioned to an applicant who lives in a metro city is higher. The banks prefer those who have a house of their own as then they will not have to pay rent and will have a higher disposable income.
    • Income: If the applicant’s income is higher, then he will get loan for a higher amount as he can afford higher EMI.
    • Age: Banks refrain from giving loans to young individuals as they keep changing jobs. The banks prefer those having a stable work life.
    • Type of employment:The self-employed professionals and nonprofessionals are required to have higher work experience than compared to salaried individual and salaried professionals.
    • Employment status: The banks prefer those who have been employed in a company for a longer period.
    • CIBIL Score: The applicants’ CIBIL score and credit report is referred before the bank looks further into the applicant’s profile.

    How CIBIL score affects your Oriental Bank of Commerce Personal Loan Eligibility?

    The first thing Oriental Bank of Commerce does when they receive an application for personal loan is that they check the applicants CIBIL score.

    The bank checks for the following:

    • The repayment history and the credit available for the applicant.
    • Credit and assets built by the applicant.
    • The number of credit cards that the applicant has and how much credit he has utilized under them.
    • The overall credit utilization.
    • The bank also checks if the applicant has settled any loan. If the applicant has agreed to settle for a loan due to certain financial constraints, then it gets recorded in the credit report and stays in the report for 6 years. The settlement of the loan is considered as a negative remark and hence Oriental Bank of Commerce might not offer you a personal loan as they might be unsure about your capacity to repay the loan.
    • Capacity to repay the loan. This information can be gathered from the profile as it includes his income information and age and the assets that he has acquired through credit etc.

    How to Increase Oriental Bank of Commerce Personal Loan Eligibility?

    You can do the following to increase Oriental Bank of Commerce personal loan eligibility:

    • Maintain a good credit history by making all the payments on time.
    • Get lower EMIs on existing loans. Reduce the EMIs each month, it ensures that you do not miss out on making payments.
    • Prepay the loans if you have lesser EMIs left on any loan. This closes the loan and the applicant will then have a higher disposable and stand a chance of getting a higher amount loan.
    • Have both secured and unsecured loans, showing the bank that you have managed to attain some assets over the period of time and not just built credit.
    • Don’t apply for too many loans as all the banks will run a credit check which gets recorded in the credit report.
    • Don’t have too many credit cards. Though you may not have used the credit on all of the cards, it lowers your overall credit limit.

    FAQs on Oriental Bank of Commerce Personal Loan Eligibility

    Q. What are the age requirement for an individual to take Oriental Bank of Commerce personal loan?

    A. At the time of taking the loan the minimum age requirement is 21 years and the applicant must be less than 68 years of age.

    Q.What is the minimum salary requirement for a salaried individual to get a personal loan from Oriental Bank of Commerce?

    A. The applicant’s net monthly salary must not be less than Rs.10,000. The net take home salary should not be less than 30% of gross salary after the EMI for the proposed loan is deducted.

    Q.What is the requirement for a pensioner to avail personal loan from Oriental Bank of Commerce?

    A. The net take home pension should not be less than 50% of the gross pension after the EMI installment for the proposed loan is deducted.

    Q.What is the maximum loan amount offered as personal loan by Oriental Bank of Commerce?

    A. The maximum loan amount for salaried individuals is Rs.5 lakhs and for pensioners it is Rs.2 lakhs.

    Personal Loan Reviews

    • Oriental Bank of Commerce Personal Loan
      "Good banking"
      0.5 4.0/5 "Great!"
      I had requested for a personal loan with Oriental bank.The loan amount is 1.2 lakhs.Rate of interest i dot remember.I closed the application as i was not interested to proceed hence got moved to a different bank with good offers.The customer service was good and explained the details.
      Was this review helpful? 0
      , vadodara
      Reviewed on Nov 15, 2017
    • Oriental Bank of Commerce Personal Loan
      "poor service "
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with oriental bank of commerce.Loan amount i requested was 4.5 lakhs.Rate of interest is 11.67 is nominal as compared to others.They had called me after 35-40 days post applying for the loan request,very delay in response,not satisfied with the service.hence closed the application and got loan from a different bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 01, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good banking service"
      0.5 2.5/5 "Just OK"
      I had requested for a personal loan with Oriental bank of commerce. Loan amount is three lakhs the interest rate offered was 11% which is higher as compared to others,Post applying i did not receive any update or calls for the same. Overall I am not happy with OBC service,.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 01, 2017
    • Oriental Bank of Commerce Personal Loan
      "No response and follow up"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with oriental bank but the application did not proceed i was told that an executive would come to collect the documents after which no one had turned out to collect them nor have i got any information on the application status or the reason why the application did not proceed.
      Was this review helpful? 0
      , kolkata
      Reviewed on Oct 30, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      My personal was taken before 3 years. They have offered me 3L with the interest rate of 12%. I pay EMI of 7k/month through ECS. I got a proper response. The part payment and pre closure option is good. The customer service is good. The loan was disbursed on time. The documentation process was little bit complicated.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Oct 28, 2017
    • Oriental Bank of Commerce Personal Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      The service from ORIENTAL for my personal loan service was excellent the customer service was good , I don't remembered about the rate of interest offered by ORIENTAL,but it was a happy experience from ORIENTAL bank for my personal loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 27, 2017
    • Oriental Bank of Commerce Personal Loan
      "Transparency is needed"
      0.5 4.0/5 "Great!"
      The interest rate is very low with Oriental bank of commerce personal loans. I have asked for the 3years tenure but at the end of the process they gave me the documents with 5years tenuity. The transparency is missing in the process. The promises need to be fulfilled with OBC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The personal loan service was fine with Oriental Bank of Commerce . They have disbursed the loan within10 to 15days of time. The customer service was good with Oriental Bank . The rate of interest is nominal with OBC when compared with other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 14, 2017
    • Oriental Bank of Commerce Personal Loan
      "Better Banking"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with oriental bank. I have cancelled my application and got funds from a different source,reason for cancellation is the service was really bad they didnt process my application immediately. Initially i was informed that documents are not required after2 days they asked me to submit the document. Therefore, I am totally unhappy with their service.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 07, 2017
    • Oriental Bank of Commerce Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      The Oriental Bank of Commerce has told that my company has not listed under the eligibility criteria , so that was the reason I haven't got the personal loan from OBC. The customer service was good with OBC, They gave better response in regards to my personal loan application. The rate of interest was nominal when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 14, 2017
    • Oriental Bank of Commerce Personal Loan
      "Fair Response"
      0.5 4.0/5 "Great!"
      I preferred Oriental Bank of Commerce for my personal loan requirement. The bank responded well and I had received proper calls and information from the bank about the loans but due to my credit score constrains I could not avail the loan from the bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 30, 2017
    • Oriental Bank of Commerce Personal Loan
      "No Response"
      0.5 1.0/5 "Really Bad"
      Actually I done my loan process with other bank so I did not continue the personal loan with Oriental Bank of Commerce. I did not receive any single call from the bank. There was no call or message from OBC for my loan application and I got the loan from other bank.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 11, 2017
    • Oriental Bank of Commerce Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      OBC contacted me initially and later there was no follow up calls from them for the personal loan. There was also no proper clarification or information on the rate of interest and processing charges. I would not wish to refer the bank from the current experience.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 08, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good Service"
      0.5 3.0/5 "Satisfactory"
      I haven't got the car loan with Oriental Bank of Commerce, because I got the best interest rate with other bank, so that was the reason I haven't proceed with Oriental Bank car loan. The customer service and the response was good with OBC. The rate of interest is nominal .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      I had applied for the personal loan with Oriental Bank of Commerce but after a while I just postponed my plan in taking the loan. But when I approached the bank I had received very good response and they contacted me properly and provided the details.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 21, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      Oriental Bank of Commerce provided a good response when I applied for the personal loan with them. I never found any challenge with OBC when I approached them for the loan process. But then I had to close my personal loan application due to some reason.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 19, 2017
    • Oriental Bank of Commerce Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      The oriental bank was offering the personal loan with very high interest rate like 10 to 11% which is really high at the market price, when compared with others. The response and the follow up was prompt with Oriental bank of commerce. I would like to suggest them to decrease the interest rate in future. Overall, I would say service is good with OBC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 03, 2017
    • Oriental Bank of Commerce Personal Loan
      "They should give proactive response to the customers"
      0.5 3.0/5 "Satisfactory"
      Oriental Bank of Commerce requested me to share the personal guarantor details from my office, by the time I was able to arrange the money through my own source. Hence I didn't take loan from Oriental bank of commerce and their response is also not up to the mark, they have collected documents and they took two months to process the loan, finally they asked for personal guarantor, I am not fine with that, OBC should improve on their service part.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 30, 2017
    • Oriental Bank of Commerce Personal Loan
      "Better Service"
      0.5 3.0/5 "Satisfactory"
      Actually I submitted my personal loan application with Oriental Bank of Commerce through online source. For the personal loan they quoted high rate of interest so I am not happy with that, hence I closed the application. But Oriental bank of commerce is really good in providing customer service.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 30, 2017
    • Oriental Bank of Commerce Personal Loan
      "Response part has to be improved"
      0.5 3.0/5 "Satisfactory"
      Some body from the Bank called me during the initial stage and ask to me to keep my documents ready but there was no response from their end. Oriental Bank of Commerce is a good bank but some staff were not responded well. Hence I am unable to process my loan with them, OBC bank should improvise on the response part.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 30, 2017
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