A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 Oriental Bank Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.50% Floating
    0.5% (max. ₹20,000) + S.T.
    30L - 10Crs
    1-25 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    Oriental Bank Home Loan is Rated as "Pretty good" by 100 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    Oriental Bank of Commerce is an India-based bank established in Lahore is one of the public sector banks in India. The bank offers features such as internet banking, phone banking NRI banking etc. The bank has launched yet another people's participation in the planning process at grass root level essentially to tackle the maladies of poverty. The Grameen Projects venture aims to alleviate poverty plus identify the reasons responsible for the failure or success. They provide quality, innovative services with state-of-the-art technology in line with customer expectations.Oriental Bank of Commerce provide home loans to individuals or group of specified individuals (co-borrowers) including HUF having an assured source of regular income viz. salaried / self-employed persons, professionals, businessmen, farmers etc.(including Staff & NRIs ).Also providing concession in rate of interest to captive and loyal customers, existing home loan borrowers and group of employees. Continue reading to view more details about this loan.


     

    You’re probably eligible for an Oriental Home Loan if you are

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    Oriental Home Loan Minimum Age

    At least 18 years old

    Oriental Home Loan Maximum Age

    Less than 70 years old

    Oriental Home Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    Oriental Home Loan Minimum Income

    Earn more than the minimum
    income required


     

    Your Oriental Home Loan amount eligibility is based on these factors

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    Oriental Home Loan Minimum Salary

    Earn more than the minimum
    income required

    Oriental Home Loan Maximum Loan to property value

    Loan capped @ 60 times Gross monthly Income

    Oriental Home Loan EMI

    EMIs of other loans lower
    your eligibility


     

    Increase your eligible Oriental Home Loan amount by these steps

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    Oriental Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    Oriental Home Loan Maximum Tenure

    Choose longer tenure loan up to 25 years

    Oriental Home Loan Add parents as Co-applicant

    Alternatively add your parents


     

    Documentation needed to apply for an Oriental Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee Cheque
    • 4. Latest bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
    • 6. Documentation for self-employed applicants:
      • latest income tax returns
      • latest comupation of income

     

    Oriental Home Loan Interest RatesUpdated on 28 Jun 2017

    Oriental Home Loan Details
    Interest Rate 8.50%
    Loan Tenure 25 Years
    Pre-closure Nil
    Processing Fees 0.50% of the loan amount, subject to maximum of Rs.20000/- plus service tax

     

    OBC Home Loan

    The Oriental Bank of Commerce is well known for providing a range of home loan products and solutions to individuals from all walks of life and income backgrounds. The bank provides concessional rates of interest to existing customers as well as customers who have stayed loyal to the bank over the years. These loans can be utilized by borrowers for a number of uses ranging from the purchase of homes or plots, to construction and renovation.

    Home Loan Offers

    Features and Benefits of OBC Home Loan:

    Home loans provided by the Oriental Bank of Commerce offer borrowers a number of attractive features and benefits:

    • Borrowers can utilize the loans for the following purposes:
      • Purchase of a plot of land with a view to construct a house on it
      • Construction of a residential property such as a house on a plot or a piece of land that the borrower currently owns
      • Purchase of a built up or semi built up residential property such as a house or an apartment that may be brand new or second hand
      • For the extension, renovation and reparation of an existing residential property
      • Purchase of a flat or apartment that is undergoing construction or will be constructed in the near future
      • Purchase of furniture and fittings for a home or residential property
    • The maximum loan amount that borrowers can apply for as follows:
      • Businessmen can avail of loan amounts equivalent to 40 times their gross monthly income
      • Salaried individuals can avail of loan amounts equivalent to 60 times their gross monthly income
      • For home loans availed for furnishing of a house, a maximum amount of Rs 15 lakhs can be applied for However, in general, there is no maximum limit on the amount of loan that can be applied for since the quantum of loan given out to borrowers is solely at the discretion of the bank, depending on the borrower’s income.
    • The margins offered on Oriental home loans are as follows:
      • 10% for loan applications of up to Rs 30 lakhs
      • 20% for loan applications more than Rs 30 lakhs and up to Rs 75 lakhs
      • 25% for loan applications of more than Rs 75 lakhs
      • 25% for loan applications for the purpose of repairs or renovation
    • The maximum loan tenure on offer is for a duration of 25 years
    • No prepayment or foreclosure fees or charges
    • Attractive rates of interest that range from 8.60% depending on the number of houses the loan has been applied for
    • Repayment periods ranging from 25 years to 30 years depending on the age of the residential property

    Oriental Bank of Commerce Home Loan Interest Rate:

    The benchmark MCLR for home loans is the 1-year MCLR. The interest rates are as given below:

    Category Home Loan Amount Rate of Interest Margin
    Upto 2 houses Up to 30 lakhs MCLR=8.60% Upto 20%
    8.70% (0.10% + MCLR) 10% to 20%
    Above 30 lakhs and up to 75 lakhs MCLR=8.60% Upto 25%
    8.70% (0.10% + MCLR) 20% to 25%
    Above 75 lakhs MCLR=8.60% Upto 25%
    3rd house and above Any Amount 9.10% (MCLR+0.50%)

    These rates are subject to change, so check with your bank before making a decision.

    Oriental Bank of Commerce Home Loan MCLR:

    The Marginal Cost of Funds Based Lending Rate (MCLR) for Oriental Bank of Commerce is as given below in the table:

    Loan Tenure MCLR Rate
    Overnight 8.25%
    1 month 8.30%
    3 months 8.45%
    6 months 8.55%
    1 year 8.60%

    Eligibility Criteria for Oriental Bank of Commerce Home Loan:

    The following eligibility criteria is to be met in order for borrowers to successfully apply for home loans with Oriental Bank of Commerce:

    • The minimum age of entry of the borrower is 18 years
    • The maximum age of entry of the borrower is 60 years for salaried individuals with no pensions
    • The maximum age of entry of the borrower is 70 years for any other individual, and for salaried individuals with pension
    • The applicant must be earning a regular salary or income, even if he or she is self-employed
    • The applicant must be any of the following
      • Self-employed or salaried individuals
      • Professionals
      • Hindu Undivided Families (HUFs)
      • Farmers
      • Oriental Bank employees and staff
      • Businessmen
      • Non Resident Indians

    Documentation Required to Apply for a Home Loan with Oriental Bank of Commerce:

    Applicants are required to submit the following documents in order to apply for a home loan with Oriental Bank of Commerce:

    • The completed loan application form duly signed
    • Most recent passport sized photo of the following:
      • The borrower or applicant
      • The co-applicant
      • The guarantor
    • Any proof of identity such as:
      • PAN Card
      • Valid Passport
      • Voter ID Card
      • Driving License
    • Any proof of residence such as:
      • Electricity Bill
      • Valid Passport
      • Latest Telephone Bill
      • Voter ID Card
    • Any proof of age such as:
      • Valid Passport
      • Birth Certificate
      • PAN Card
    • Last 6 months bank statements
    • For salaried individuals:
      • Previous three years income tax returns along with income computation
      • Recent salary slips
    • For self-employed individuals:
      • Previous two years income tax returns
      • Most recent income computation
    • For agriculturists:
      • Income proof
      • Proof of ownership of land
    • Documentation relating to property such as:
      • Advocate’s report stating clearance of Title
      • Report of valuation acquired from an architect on Oriental Bank of Commerce’s panel
    • Other documents that may be deemed necessary

    Oriental Bank of Commerce Home Loan EMI Calculator:

    Borrowers who are looking to acquire a home loan via Oriental Bank of Commerce can ascertain important details such as the loan amount and monthly EMIs they would be required to make. This will help them plan their budgets more effectively, and assist them in making repayments towards their loans on a timely basis.

    In order to determine these parameters, applicants can use the BankBazaar Home Loan EMI Calculator in the following manner:

    • Open the BankBazaar.com webpage on the browser
    • Select the ‘Finance Tools’ option in the menu at the top of the page
    • Select the ‘Home Loan EMI Calculator’ option
    • Enter the following details by making use of the slider provided:
      • Loan Amount
      • Tenure of Loan
      • Rate of Interest
      • Processing Fee
    • After entering these details, the EMI Calculator will show the following:
      • The applicant’s monthly EMI
      • The total amount of interest due
      • A detailed schedule of amortization
    • Applicants can change the parameters on the EMI Calculator as many times as they like, until they reach a point of satisfaction

    OBC Home Loan FAQ

    1. Is collateral required to be provided in order to apply for a home loan with Oriental Bank of Commerce?

      Applicants need not provide or show any form of collateral in order to apply for a home loan with Oriental Bank

    2. What are the processing fees involved when applying for a home loan with Oriental Bank of Commerce?

      The bank will charge a processing fee of 0.50% of the loan amount availed. However, this is subject to a maximum limit of Rs 20,000, including service tax

    3. What are the ways an applicant can increase his or her home loan eligibility?

      An applicant can increase his or her chances of acquiring a home loan through Oriental Bank by:

      1. Making his or her spouse a co-applicant to the loan, thereby increasing eligibility through the spouse’s added income
      2. Making his or her parents co-applicants to the loan.
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  • Oriental Bank Home Loan Reviews

    • Oriental Bank of Commerce Home Loan
      "Extremely well"
      0.5 5.0/5 "Blown Away!"
      I got an excellent response from OBC with respect to my housing loan. They had given a call back to me on time also they disbursed my housing loan within a day's time also the response provided by them is too quick. On the whole, they need to inform the customer in prior about insurance. Also I am very much happy with the loan amount too.
      Was this review helpful? 1
      , lucknow
      Reviewed on May 22, 2017
    • Oriental Bank of Commerce Home Loan
      "Its Convenient"
      0.5 4.5/5 "Excellent!"
      I had taken the home loan worth. 15 lakhs from Oriental Bank of Commerce, this is for a tenure of 25 years, they had charged 8.6% of interest on annual basis it a floating interest rate. Oriental Bank gave me an option of balance transfer, part payment and Foreclosure option and it is really good.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 16, 2017
    • Oriental Bank of Commerce Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      Oriental Bank of Commerce disbursed the amount on time, But it got delay from my end due to some documentation overall entire process took around two months. OBC charged the interest rate of 8.6% and zero processing fee. I am satisfied with their service.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 16, 2017
    • Oriental Bank of Commerce Home Loan
      "oriental bank home bank loan facility"
      0.5 3.0/5 "Satisfactory"
      basically, my parents have taken home loan from OBC. Being a nationalized bank, they provide loans at lower rate of interest. the problem we are facing is that, recently Rbi lowered some ROI, which should have decreased the EMI's amount. now, every month they are deducting money from our account in two installments, first they deduct 14000 something and then some 3000. now the thing is, we get message for that 14000 RS. transaction but not for the 3000 RS. transaction. the branch manager is very arrogant, he doesn't pay any attention to your query and shows himself like 'Urjit patel' not a regular banker.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 04, 2017
    • Oriental Bank of Commerce Home Loan
      "Its Good"
      0.5 4.0/5 "Great!"
      Still I have not finalized the apartment its under construction so negotiation is happening with the builder. Hence I didn't take home loan with Oriental Bank of Commerce and their interest rate and processing free was bit high compared to other competitor.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 28, 2017
    • Oriental Bank of Commerce Home Loan
      "It was good"
      0.5 4.0/5 "Great!"
      Earlier when I approached Oriental Bank of Commerce for the home loan, at the time I did not finalized the property hence I dropped. But their service is good even interest rate is nominal. Now it got confirmed so I processed with LIC Housing, they had completed all the process and approved the loan with low interest rate along with a zero processing fee.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 28, 2017
    • Oriental Bank of Commerce Home Loan
      "Response has to be improved"
      0.5 2.0/5 "Expected more"
      Oriental Bank Commerce service is not upto the mark on my home loan experience, they haven't reach me to collect the documents, response part was completing lacking with their end, Finally I have taken loan from HDFC they have processed my loan quickly.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 28, 2017
    • Oriental Bank of Commerce Home Loan
      "Can be more flexible"
      0.5 4.0/5 "Great!"
      I received a offer from Oriental Bank of Commerce for the home loan and the bank had a lot of procedures and expenses which was not negotiable by the bank. So I dropped the idea in taking my loan from them. The services was on time and they informed me the details.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 25, 2017
    • Oriental Bank of Commerce Home Loan
      "Customer Oreinted bank"
      0.5 5.0/5 "Blown Away!"
      Got top up for my home loan with Oriental bank of commerce. OBC rate of interest is very high when compared with State bank of India. Within the time limit they disbursed my home loan. The response and follow up was very good with OBC. The service is very good for long term relationship with OBC. There cooperation is very helpful in banking service.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 19, 2017
    • Oriental Bank of Commerce Home Loan
      "No Response"
      0.5 2.0/5 "Expected more"
      I did not receive proper response from Oriental bank of Commerce on my home loan application. I called them for two to three times but I am not satisfied with their service, hence I just switched over to DHFL where I got enough response, even the loan amount been disbursed as well.
      Was this review helpful? 0
      , vadodara
      Reviewed on Apr 17, 2017
    • Oriental Bank of Commerce Home Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      Actually I have an existing home loan with SBI bank, but due to high interest rate I just wanted to transfer my loan to other bank who gives the lowest interest rate so I just approached Oriental bank. The response is good with oriental bank but the interest rate is not fair, meantime SBI had revised the interest rate and I got the least rate of interest from SBI therefore I did not transfer my loan.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 17, 2017
    • Oriental Bank of Commerce Home Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      OBC done a good job for me for the Home loan. The process was quick and they kept updating me with details about the process. The documentation was simple and they collected it on time. The rate of interest was of 8.6% and the processing charges was waived off.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 13, 2017
    • Oriental Bank of Commerce Home Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      OBC was good for my home loan. There was no delay throughout the process. Interest rate and processing fee is normal and it is the same as other banks. Customer service is really good and they provided a very good response for my loan process.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 13, 2017
    • Oriental Bank of Commerce Home Loan
      "Satisfied with the services"
      0.5 5.0/5 "Blown Away!"
      It was a nice experience with OBC for the home loan. I would say extremely well done. The process was smooth and there was no hiccups in between. The rate of interest was around 8.6% and the processing charges was normal too. The after loan services is also smooth.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 13, 2017
    • Oriental Bank of Commerce Home Loan
      "Need to be customer centric"
      0.5 3.0/5 "Satisfactory"
      Customer service is very poor with Oriental bank of commerce. OBC bank is fine but their employees need to cooperate with customers. The rate of interest, fee and charges are nominal with Obc. They took around 2 months to disburse my home loan but I had submitted all the documents on the very first day. Branch Manager needs to be more customer centric.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 10, 2017
    • Oriental Bank of Commerce Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Oriental bank of commerce disbursed my home loan in a good way. Apart from the fee and charges they are really good. But sbi won't charge so much amount for fee and charges. Oriental bank of commerce took around 10 days of time to disburse my loan. The response and the follow up was really good. I have personal rapport with bank person that would be the reason for their follow up.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 08, 2017
    • Oriental Bank of Commerce Home Loan
      "Fast and satisfactory service"
      0.5 4.0/5 "Great!"
      Actually I applied for home loan with both HDFC Ltd and Oriental Bank of Commerce. I got a fast response from OBC but not from HDFC Ltd. Also, OBC is processing my home loan with zero processing fees but the processing fee with HDFC ltd is some around eight thousand rupees. So I just cancelled my application with HDFC Ltd and went with OBC, now my application is in process and their customer service is quite satisfactory.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 31, 2017
    • Oriental Bank of Commerce Home Loan
      "Improper response"
      0.5 2.0/5 "Expected more"
      I never ever received any kind of communication from Oriental Bank of Commerce on my home loan application. They not even disclosed anything on my application but it had been closed. I am not at all satisfied with their style of service. They should have contacted the customers on their loan application but they had failed to do so.
      Was this review helpful? 0
      , panchkula
      Reviewed on Mar 30, 2017
    • Oriental Bank of Commerce Home Loan
      "Overall good"
      0.5 5.0/5 "Blown Away!"
      Due to personal reasons I did not go ahead for the home loan with Oriental Bank of Commerce. They were quick in responding and in giving me the details. The experience was good and the rate of interest and charges was also normal. Overall good services.
      Was this review helpful? 2
      , indore
      Reviewed on Mar 22, 2017
    • Oriental Bank of Commerce Home Loan
      "Response has to be improved"
      0.5 3.0/5 "Satisfactory"
      I got prompt response from India Bulls, I didn't much response from Oriental Bank. But India Bulls process is simple and I did paper less work on my home loan. So I found India bulls is best compared to Oriental bank of commerce, So I processed with India bulls.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Mar 16, 2017
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