Oriental Bank of Commerce (OBC) has recently been merged with Punjab National Bank (PNB). The OBC home loans will now have the home loan interest rates of Punjab National Bank.Visit the PNB home loan interest rates to know the banks latest interest rates.
Oriental Bank of Commerce (OBC) offers home loans at competitive rates pegged to RBLR (Repo Based Lending Rate), which is currently 8.20%. The interest rates on home loans start from 8.25% p.a. to 8.80% pa. The rates for CRE Home Loans and Top Up Home Loans are higher. There’s no upper ceiling amount, however the bank will consider your income before offering you the final financing amount. The tenure can be extended till 40 years. The applicable processing fee is 0.50% of the loan amount.
Calculate your EMI (Equated Monthly Instalment) and processing fee beforehand to compare home loan schemes offered by different financial institutions. It will also help you manage your finances in a better way.
In order to compute, you can use the BankBazaar OBC Home Loan EMI Calculator. The entire process is relatively simple and hassle-free with a quick turnaround time. Just enter your loan details, including the loan amount, interest rate, processing fee, and tenure. Hit “calculate” to check your instalment amount along with the processing fee.
This will be followed by an amortisation table giving you a complete breakdown of your payment schedule.
OBC Home Loan Eligibility Criteria
Age
18 years to 75 years
Type of Employment
Salaried or self-employed
Nationality
Resident India or NRI
Documents Required
For salaried
Identity proof
Residential address proof
Last 3 months’ salary slips
Last 6 months’ bank statements
Property-related documents
For self-employed
Identity proof
Residential address proof
Last 6 months’ bank statements
Business details
Property-related documents
Get home loans from OBC with extended tenures and at attractive rates. You can also get a home furnishing loan of up to Rs.25 lakh with the bank.
Oriental Bank of Commerce cuts MLCR rates by up to 0.15%
The Oriental Bank of Commerce which is one of the largest state-owned banks announced a cut the marginal cost of funds-based lending rates (MLCR) for various tenures by 0.05-0.15%. The bank decided to reduce these rates and will be in effect from 10 January 2020.
The bank has cut the one-year benchmark MLCR by 0.15% to 8.15%. When it comes to other tenures, from overnight to 6 months, the MLCR have been cut by 0.05 to 0.10%. however, the one year tenure is the one which has been opted by majority of the consumers to repay their loans.
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I have taken home loan directly from Oriental Bank Of commerce .The rate of interest and the processing fee was very nominal,I have got the loan amount sanctioned on time ,There was no drawbacks faced so far on using this service .From bank end all t he detail was shared and i am satisfied with the service .
Being a nationalized bank and their elite banking service, i have purchased my home loan from Oriental bank of commerce. I have visited their different branches and the employee response was fantastic and the manager will come and ask for the customer's needs. Their interest rate are as per the RBI rules and actually i have taken the home loan from Global trust bank after that it merged into oriental bank of commerce.
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2
RAMA MURTHY BALASUBRAMANIAN
, bangalore
Reviewed on Jun 12, 2019
I have selected oriental bank of commerce loan amount they sanction 28 lakhs tenure 20years and Rate of interest 8.35% ,EMI Rs 15000.There is no process fee charger customer service is good and responsive , Documents submitted through executive there is no foreclosure charger.
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1
SANDEEP KUMAR SIROHI
, mohali
Reviewed on Jun 09, 2019
I have applied for the housing loan with the ORIENTAL BANK OF COMMERCE where using it since from last many years and the duration for repaying the loan is for maximum years and also the documentation process was simple and easy to get the home loan.
Oriental Bank of Commerce is supportive they immediately approved my home loan, I got the rate of interest around 8.75% for the tenure period of 20 years. The bank have the processing fee from the disbursement . At one shot I got the entire loan amount.
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5
SAIPRASAD CHANDRAKANT MULIK
, mumbai
Reviewed on Feb 23, 2019
I have been using my home loan with Oriental bank of commerce, they have given me sufficient loan amount , and the rate of interest they have charged me up to 9-10%, which was nominal for me and even processing fee they have charged me was nominal,and i took loan amount for 20 years, there was no hidden charges.
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1
SHANTILAL ONKAR MORE
, surat
Reviewed on Dec 30, 2018
I am having housing loan with Oriental Bank of India, before 4 years I took the loan at the time interest rate is good. The process is convenient. I didn't contact the bank to check about the balance transfer , part or pre closure payment, I just make the emi on monthly basis.
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4
NAVEEN KUMAR REDDY BOPPITI
, hyderabad
Reviewed on Dec 13, 2018
I have been using my health insurance with oriental bank , there service is average, i have applied this health insurance recently, and i use to pay premium in yearly basis, and it use to get auto debit from my account, and there customer service is not up to the mark.
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7
ARUN RAJ RAJAN
, bangalore
Reviewed on Nov 16, 2018
I got my housing loan from Oriental bank of commerce . Am satisfied with rate of interest of 8.8%which is nominal one The customer service and response is good. It instant approval process just they took 10 days but they assured for the loan They gave good tenure period which i make the payment through ECS . Their customer service is good and responsive. There are no processing fees.
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3
DEVNATH MISHRA RADHESHYAM MISHRA
, mumbai
Reviewed on Oct 15, 2018
I have my home loan with ORIENTAL BANK for about 6 years . The loan amount was 6 lakhs and the Interest rate was 8-9% which is average . The tenure period was 25 years . They have provide door step service for collecting document . The processing fee was nominal . My overall experience was excellent .
Actually i was not able to contact them i was a bit busy with my work so i did not received any calls . They called me i told them i will be available after few days for some work i was involved in so it got canceled . The customer service was good from the bank side .
I previously had a home loan with Oriental Bank of Commerce back in 2004, it was for Rs 4.18 lakhs with the good rate of interest. The home loan experience was not up to the mark. Customer service was good and they followed up on time. The process was quite long, it took 10 days for the loan to get disbursed. No documents were required as i already hold a salary account with this bank.
I have applied for the home loan from Oriental Bank of Commerce, my loan application was closed because i have postponed the plan to get the home loan. When it comes to customer service, it was good, they responded on time and regular follow ups was done. The rate of interest was nominal when compared to other banks.
I took home loan from my home branch, they have provided me very best interest rate around 8.3% and they had taken some processing fee it was very low. I have purchased an apartment, they released one shot of loan amount based on the property construction.
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2
SINGH AMITKUMAR BHAGAWANSINGH
, vadodara
Reviewed on Oct 11, 2017
Executive called me once after that no body turned up. I tried multiple times to reach the customer service. I got a regular followups from other bankers, but not even a single call from oriental bank since its 2 months now. Rate of interest is good. Only one email has been sent with application, I am disappointed with the service.
Service is good from ORIENTAL bank ,but the amount they offered is not sufficient for me . I have submitted my documents through online but there is no proper response from ORIENTAL representatives , I am not much happy with ORIENTAL bank service .
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0
PRASAD RAGHUNATH SABNIS
, pune
Reviewed on Oct 07, 2017
Service is not much good from OBC ,customer service and other representatives is not much helpful . They said they will reduce my interest rate but I am still struggling to reduce their interest rate ,I feel their communication is not much good ,they need to improve some more ,I am not happy with the overall service.
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0
PRABHAT KUMAR SINGH
, kolkata
Reviewed on Oct 06, 2017
By the time of my home loan request, Oriental Bank called me after a week of request meanwhile I have processed HDFC Ltd for the home process. I would like to suggest them to their response time should be improved and should provide proper coordination.
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0
MAHENDRAN SRINIVASAN
, chennai
Reviewed on Oct 05, 2017
I am not happy with the customer service of the ORIENTAL BANK OF COMMERCE . It was good at all no proper information was delivered because no one called from the Bank side . The rate of interest was real high and processing fee was high something about rupees 5,000 . I did not like the process .
Customer service from the ORIENTAL BANK side was good for the Home loan I gave an application for . The rate of interest was real low in the website and in branch they told high rate of interest . I had some personal reason I did not take the loan .
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0
RAVI SAVARIMUTHU
, chennai
Reviewed on Oct 04, 2017
