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  • Oriental Bank Of India Personal Loan Diwali Offers Nov 2018

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  • Diwali Offers on Oriental Bank of Commerce Personal Loan November 2018

    Oriental Bank of Commerce offers personal loans to help you meet all kinds of expenses, such as education, marriage, refurnishing your house, or even purchase of expensive gifts and during festivals such as Diwali. The Oriental Personal Loan Scheme is a customised scheme for employees of PSUs (Public Sector Undertakings), Central and State Governments, Universities, Hospitals, Schools, etc. Doctors and other professionals can also avail this personal loan from Oriental Bank of Commerce.

    Features and Benefits of the Personal Loan Scheme from Oriental Bank of Commerce

    • Oriental Bank of Commerce offers individuals personal loans of up to 15 times their net take home income. The maximum amount that can be availed as loan is Rs.10 lakh.
    • Individuals taking a loan will need to repay the loan amount within 60 EMIs.
    • You will need to have at least one personal guarantor when applying for the loan, and it is preferred if the guarantor is a fellow employee.
    • The bank charges 2% penal interest over the normal lending interest rates on the unpaid/defaulted loan amount.
    • A processing fee of 0.50% of the loan, with a minimum of Rs.500, with the inclusion of service tax, is charged.
    • There is no pre-payment penalty.
    • The rate of interest is 1-year MCLR + 2.75%.
    • The net monthly income should not be less than Rs.10,000.
    • After deduction of the EMI of the proposed loan, the net take home income should be not less than 30% of the gross salary.
    • For non-salary account holders of Oriental Bank of Commerce, the gross monthly salary should not be less than Rs.50,000.

    Things to Know before Applying for a Personal Loan Scheme from Oriental Bank of Commerce

    • Before you apply for a loan, it is a good idea to visit the ‘Oriental Bank of Commerce’ page on the BankBazaar website and view all the details of the loan, check the eligibility criteria, and the list of required documents.
    • You can also click on the ‘Get Quote’ tab to receive a customised quote within 30 minutes.
    • Next, you can contact a representative from Oriental Bank of Commerce and find out if they have any Diwali offers for the personal loan.

    Celebrate this Diwali with a Personal Loan Scheme from Oriental Bank of Commerce

    Diwali is an occasion when we all need additional funds for various purposes, such as buying gifts for our loved ones, arranging trips for family members to fly back and forth, or just shopping for the occasion. If your Diwali expenses are more than what you estimated, you can always to opt for a personal loan from Oriental Bank of Commerce to cover the extra expenses. With its low interest rates, flexible repayment options and extended loan tenure, this personal loan can truly light-up your Diwali festivities.

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