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Oriental Bank of Commerce Two wheeler Loan

Oriental Bank of Commerce (OBC) which merged with Punjab National Bank with effect from 1 April 2020 offer two-wheeler loans to eligible individuals. The loan can be availed at attractive rates and the repayment can be made in affordable equated monthly installments (EMIs). In addition to the normal two-wheeler loan, the lender also offers a special scheme for women riders at a rate of interest of 8.70% p.a.

Oriental Bank of Commerce Two-Wheeler Loan Interest Rate

Interest Rate 8.70% - 9.55% p.a.
Maximum Loan Amount Up to Rs.10 lakh
Minimum Loan Amount Contact the bank
Minimum Net Income Rs.8,000 per month
Repayment Period 60 months
Processing Fee 0.50% of the loan amount
Prepayment Charge Nil

Features and Benefits

The features and benefits of bike loan offered by OBC are listed below:

  • Affordable interest rates
  • No guarantee needed for loan up to Rs.25,000
  • Repayment tenure can go up to 5 years
  • You can avail a loan up to Rs.10 lakh for a bike having engine capacity of 200 cc and above
  • Interest concession for women borrowers

Oriental Bank of Commerce Two-wheeler loan EMI calculator

You can get to know the EMI amount before availing a two-wheeler loan by using BankBazaar two-wheeler loan EMI calculator. All you need to do is enter the loan amount, interest rate, loan tenure and processing fee and click on ‘Calculate’. You will be provided a break-up of the total amount payable along with the amortization details.

Oriental Bank of Commerce Two-Wheeler Loan Eligibility

The eligibility criteria that must be met in order to avail a two-wheeler loan from OBC is listed below:

  • Salaried individual with a minimum of 6 months service
  • Self-employed individual with experience of more than one year
  • Students with parents or guardian as co-borrower
  • Should be between 18 and 65 years of age
  • Must hold a valid driving license
  • Minimum monthly income should be Rs.8,000

How to Apply for an Oriental Bank of Commerce Two-Wheeler Loan?

You can apply for a two-wheeler loan from Oriental Bank of Commerce either online or offline. To apply online, you can visit the official website of the bank and follow the process of availing the loan. You can also visit a branch of the bank along with the necessary documents.

Documents Required

The documents which need to be submitted in order to avail a two-wheeler loan from OBC are mentioned below:

For Salaried

  • Identity proof
  • Age proof
  • Address proof
  • Salary slips of last three months
  • Form 16/ ITR of previous year

For Self-employed

  • Identity proof
  • Age proof
  • Address proof
  • ITR of previous year

FAQ's

  1. What is the margin when availing a two-wheeler loan under the PNB Power Ride scheme?

    The margin is 10 percent of the ex-showroom price.

  2. What is the maximum permissible deductions for a loan availed the PNB Power Ride scheme?

    The maximum permissible deductions for a loan availed the PNB Power Ride scheme is 50 percent.

  3. Can the income of spouse be taken into consideration for determining the income criteria under the PNB Saarthi scheme?

    Yes, it can be taken into consideration for determining the income criteria.

  4. Will the driving license of parents or guardian considered if the applicant is a student?

    It will be accepted as the age of parents or guardian is considered.

  5. Can a salaried person with pension apply for a loan if he/she is above 65 years of age?

    Yes, a salaried person with pension can apply for a two-wheeler loan up to the age of 70 years.

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