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 Interest Rates

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
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    Oriental Bank of Commerce (OBC) Personal Loan Interest Rates is Rated as "Pretty good" by 55 Users

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    About Oriental Bank of Commerce Personal Loan

    Oriental Bank of Commerce offers personal loan for individuals to meet expenses of marriage, education, family functions, to purchase consumer durables or for any other legitimate monetary purposes. The loan is offered to working individuals and pensioners. The borrower will need to provide a collateral or a guarantor to avail the loan.

    Oriental Bank of Commerce Personal Loan Interest Rates

    Oriental Bank of Commerce personal loan interest rates depends the borrower’s on income, borrower’s credit history, the RBI rates, inflation etc. Oriental Bank of Commerce personal loan interest rate for the year 2015 is 12.4 percent. The interest rates is offered to a borrower in such a way that he is not burdened with the EMI payment.

    OBC Personal Loan Interest Rates 2017

    Particulars Salaried Self-employed
    Interest rate 11.80% p.a. 11.80% p.a.
    Loan Amount Rs.5 lakhs Rs.5 lakhs
    Loan Tenure 6 months to 5 years 1 to 5 years
    Lowest EMI Rs.2,214.35 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate). Rs.2,214.35 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate).
    Processing Fee 0.50% of the loan amount with a minimum of Rs.500 + GST 0.50% of the loan amount with a minimum of Rs.500 + GST
    Age 21 to 60 years 21 to 60 years
    Prepayment Charges Nil Nil
    Foreclosure Charges - -

    How to Calculate Interest or EMI on Oriental Bank of Commerce Personal Loan?

    EMI or Equated Monthly Instalment is the amount the borrower has to pay to the bank each month towards the payment of interest and the principal loan amount. The principal amount and interest is divided by the tenure in which the loan has to be repaid. The formula to calculate the EMI is:

    EMI= Principal X Rate of interest on a monthly basis X (1+rate of interest on a monthly basis) to the power of the loan tenure divided by [(1+rate of interest on a monthly basis) to the power of the loan tenure – 1]

    BankBazaar.com makes the EMI calculation easy through the free online EMI Calculator. It also gives you the amortization table that will contain details of how much of the EMI amount is going towards the principal amount payment and how much of it covers the interest amount.

    For example, Mr. Jim has taken a personal loan for Rs.1 lakh from Oriental Bank of Commerce. The interest rate he is being offered is 12.4 percent for a tenure of 5 years. By the end of the fifth year, he would have paid Rs.34,683 towards total interest and his loan EMI is Rs.2,245. He will be paying 25.8 percent towards the interest and 74.2 percent towards the principal loan amount. His amortization table will look as follows:

    Year Principal paid (in rupees) Interest paid (in rupees) Balance amount (in rupees)
    Year 1 15,392 11,545 84,608
    Year 2 17,413 9,524 67,195
    Year 3 19,699 7,238 47,497
    Year 4 22,285 4,651 25,211
    Year 5 25,211 1,725 0

    Factors affecting Oriental Bank of Commerce Personal Loan Interest Rates

    Oriental Bank of Commerce personal loan interest rate varies for every applicant due to the following factors:

    • Loan tenure:

      If the loan tenure is shorter, the interest rate is higher when compared to loans with a longer tenure.

    • Repayment capacity:

      Oriental Bank of Commerce checks a person’s repayment capacity before offering him a loan and before deciding the interest rate. The bank will make sure that the EMI amount will not exceed 30 percent of the borrower’s income. The bank also looks into his income, his assets and his creditworthiness before finalising on an interest rate.

    • Borrowing class:

      Young applicants are not so stable at their job and banks usually stay away from people who do not have a constant flow of income. Oriental Bank of Commerce offers personal to working individuals and pensioners.

    • Relationship with the bank:

      You may even get a discount on the processing charges or might get a reduced interest rate if you have been having a good long term relationship with the bank.

    The interest rates and processing charges are charged at the sole discretion of the bank and are subject to change.

    How CIBIL score affects Oriental Bank of Commerce Personal Loan interest rates?

    CIBIL Score and credit report plays a major role in deciding an applicant’s interest rate. CIBIL report is a document that has all the information on your repayment history and shows how responsibly you have handled the credit. Banks usually accept application of individuals having an ideal score of 750 and above. Those with a lower score will be termed risky and the bank might offer personal loan at a higher rate of interest. It is advisable to check your credit score before applying for a loan. If your score is low, then you can fix the score before applying for a loan.

    Key things about Oriental Bank of Commerce Personal Loan interest rates

    Before applying for a Personal Loan, you must know the following factors:

    • Fixed interest rate is when a fixed interest rate is set on the personal loan and you will be required to pay a fixed amount of interest throughout the tenure.
    • Floating interest rate will change as per the change in the bank’s base lending rate. The EMI will keep changing with the changing rate. Oriental Bank of Commerce offers floating rate of interest on their personal loans.
    • To avail Oriental Bank of Commerce Personal Loan, you need to have a guarantor or provide security.
    • When the repo rate goes up, your interest rate will also go up.
    • Oriental Bank of Commerce offer personal loans to working individuals and pensioners.
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  • OBC Personal Loan Interest Rates Reviews

    • 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
    • Oriental Bank of Commerce Personal Loan
      "No proper response"
      0.5 2.0/5 "Expected more"
      Oriental bank of commerce haven't made a proper follow up in concern to my personal loan application. I would like to suggest that OBC must maintain a process on their follow up and the call backs in regards to any product. The rate of interest is nominal with OBC. Overall the service need to be improved very much.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 29, 2017
    • Oriental Bank of Commerce Personal Loan
      "Work on Customer Oriented"
      0.5 1.0/5 "Really Bad"
      When I applied with Oriental bank for the personal loan, I received call from them stating they need documents from me. So I kept all the documents ready and I am waiting for the call from OBC but I did not receive any calls from them but I got mail stating my application has been rejected. The reason for I choose OBC is because of the interest rate, with them the interest rate is around 11.85% but with other banks it is 17%. But I did not receive the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • Oriental Bank of Commerce Personal Loan
      "Delayed response"
      0.5 2.0/5 "Expected more"
      After me applying for a personal loan with Oriental Bank of Commerce, they delayed by couple of days to contact me. And then the process seemed long too. So I cancelled my application and I went ahead with another bank. I am not too sure on the interest rate and charges.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 25, 2017
    • Oriental Bank of Commerce Personal Loan
      "Its Good"
      0.5 3.0/5 "Satisfactory"
      Oriental bank of commerce executives did not visit my place to collect the documents they asked me to upload the documents through online channel, I tried uploading but there was an issue. Then I didn't get any response from them, finally my application was closed.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 25, 2017
    • Oriental Bank of Commerce Personal Loan
      "Delayed response"
      0.5 2.0/5 "Expected more"
      Since OBC contacted me much after I had applied for a personal loan, I did not wish to proceed ahead. I received a call after couple of days and it was not a very satisfactory experience. No information on the interest rate and processing charges.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 25, 2017
    • Oriental Bank of Commerce Personal Loan
      "Satisfied"
      0.5 4.0/5 "Great!"
      I have not taken the personal loan with the Oriental bank of commerce because I have postponed the plan to some extent. Rate of interest was around 10% for the personal loan and the customer service was good one and they were polite too.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 24, 2017
    • Oriental Bank of Commerce Personal Loan
      "Better "
      0.5 4.0/5 "Great!"
      I have expected more capital with the Oriental bank of commerce as the personal loan but they were not okay to provide, so I have cancelled the application. Rate of interest was around 13% and the services were good and its the unexpected one. I don't have any issues with them till now. Customer service was good one with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Oriental Bank of Commerce Personal Loan
      "Could have more clarity in the services"
      0.5 3.0/5 "Satisfactory"
      When I applied for a personal loan with Oriental Bank of Commerce, the bank did not proceed ahead though my documentation was perfect. They collected all my papers and started the process and finally declined the loan without giving me a proper reason for it. The had a good deal on the interest rate and fee.
      Was this review helpful? 0
      , vadodara
      Reviewed on May 24, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good in services"
      0.5 4.0/5 "Great!"
      OBC contacted me when I had applied for a personal loan and checked on my requirement. Since I was out of town I could not submit my documentation and the loan was closed. The interest rate of around 11% and the bank had a affordable processing fee as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 24, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The Oriental Bank of Commerce executive told that they will come and collect the documents , but no one turned on the promised date and time. The response and the follow up is fine with them. The rate of interest is nominal when compared with others. Overall I am satisfied with the service.
      Was this review helpful? 0
      , chennai
      Reviewed on May 24, 2017
    • Oriental Bank of Commerce Personal Loan
      "Below average service"
      0.5 1.0/5 "Really Bad"
      Oriental bank commerce executive told that my company is not listed in their list, that was the reason I haven't got the personal loan from OBC. They haven't explained me about the product. The oriental bank of commerce can be improved and focused with customer queries in future .
      Was this review helpful? 0
      , chennai
      Reviewed on May 22, 2017
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