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    • Oriental Bank of Commerce Personal Loan

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    • Effective 1 April 2020, Oriental Bank of Commerce has merged with Punjab National Bank.

    Oriental Bank of Commerce offers personal loans at lucrative interest rates. The bank offers 3 different types of personal loans on the basis of the employment status of the customer.

    • Loan amount of up to Rs.10 lakh
    • Repayment tenure of up to 60 months
    • Interest rates ranging between 11% p.a. to 12.5%p.a.
    • Loans for salaried individuals and pensioners
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    Check your Eligibility!

    Compare various Oriental Bank of Commerce Loan Scheme

    i) Loan Scheme for Govt. Or PSU Employees

    Interest Rate Loan Amount Processing Fees 
    11.50% p.a.  Up to Rs.10 lakh  0.50% of the loan amount plus applicable tax 

    ii) Loan Scheme for Corporate Employees 

    Interest Rate Loan Amount Processing Fees 
    12.50% p.a.  Up to Rs.5 lakh  1% of the loan amount plus applicable tax 

    iii) Loan Scheme for Pensioners

    Interest Rate Loan Amount Processing Fees 
    11% p.a.  Up to Rs.10 lakh 1% of the loan amount plus applicable tax 

    Looking for more details on the Oriental Bank of Commerce (OBC) Personal Loan Interest Rates? Click here

    Fees and Charges

    Type of fees and charges Applicable charges 
    Penal Interest Rate  2% in addition to the normal lending rate of interest on the amount which is overdue 
    Pre-payment charges  Nil 

    Documents Required

    The requirement of documents varies from bank to bank. However, there are certain documents which are required to be submitted by every individual who applies for a personal loan. Some of these documents are listed below: 

    Proof of identity PAN card, Aadhaar card, Voter’s ID card, etc.
    Proof of address Aadhaar card, current telephone bill, current electricity bill, rental agreement, etc. 
    Proof of age PAN card, passport, Aadhaar card, etc.

    Also,

    • Duly filled up and signed application form 
    • Bank account statement 
    • Recent passport-sized photograph of the applicant 

    These are some of the mandatory documents which are required at the time of applying for a personal loan. However, as mentioned earlier, the requirement of documents differs from bank to bank and you would be required to provide other documents if your lender asks for them. 

    Eligibility criteria

    i) For Govt. Or PSU Employees 

    Employment Status  The applicant should be a permanent and confirmed employee 
    Relationship with the bank  Applicant should have his or her salary account with the bank
    Minimum Net Salary  A) He/She should have a monthly salary of at least Rs.10,000 if salary account is maintained with the bank
     B) The applicants who do not have their salary account with the bank will be required to have a gross monthly salary of at least Rs.50,000 
    Debt-to-income ratio  After the deduction of the instalment amount for the proposed personal loan, the salary of the applicant (net take home) should be at least 30% of his or her gross salary. 

    *Applicants who do not have their salary accounts with the bank can also apply for a personal loan (subject to certain conditions)

    ii) For Corporate Employees 

    Employment Status  The applicant should be a permanent employee 
    Employment Tenure  He/She should have been working for at least 3 years (including present and previous employment) 
    Relationship with the bank  Should have his/her salary account with the bank 
    Minimum Net Salary  A) Monthly salary of at least Rs.10,000 if his or her salary account is maintained with the bank
    B) The applicants who do not have their salary account with the bank will be required to have a gross monthly salary of at least Rs.50,000 
    Debt-to-income ratio  After the deduction of the instalment amount for the proposed personal loan, the salary of the applicant (net take home) should be at least 30% of his or her gross salary. 

    *The applicants who do not have their salary accounts with the bank can also apply for a personal loan (subject to certain conditions) 

    iii) For Pensioners 

    Age of the applicant  A) If the applicant is an individual pensioner, his or her age should not be more than 75 years.
    B) If the applicant is a family pensioner, his or her age should not be more than 70 years. 
    Net take home pension amount  At least 50% of their gross pension 

    Click here to get a detailed idea of the eligibility criteria for Oriental Bank of Commerce Personal Loan.

    How the EMI calculation of Oriental Bank of Commerce Personal Loan work? 

    To understand the working of a personal loan from Oriental Bank of Commerce, let us take an example. Mr. Ross is a government employee who is a resident of Kolkata. He draws a monthly salary of Rs.25,000. His salary account is maintained with Oriental Bank of Commerce. He takes a personal loan of Rs.1 lakh from Oriental Bank of Commerce. As he is a government employee, the rate of interest on the loan amount for Mr. Ross is 11.50% p.a. The processing fee is 0.50% of the loan amount. He opted for a loan repayment tenure of 12 months. On the basis of the factors mentioned above, the loan repayment schedule of Mr. Ross will look like this: 

    Month Principal Paid (A)  (in Rs.)  Interest Paid (B)  (in Rs.)  Total Amount Paid (A+B)  (in Rs.)  Outstanding Loan Amount  (in Rs.) 
    1  7,903  958  8,861  92,097 
    2  7,979  883  8,862  84,118 
    3  8,055  806  8,861  76,063 
    4  8,133  729  8,862  67,930 
    5  8,211  651  8,862  59,719 
    6  8,289  572  8,861  51,430 
    7  8,369  493  8,862  43,062 
    8  8,449  413  8,862  34,613 
    9  8,530  332  8,862  26,083 
    10  8,612  250  8,862  17,471 
    11  8,694  167  8,861  8,777 
    12  8,777  84  8,861  0 

    On the basis of the details provided in this example, Mr. Ross will be paying a total amount of Rs.1,06,838*. The total interest to be paid by him is Rs.6,338 and the processing fee for the loan is Rs.500. His monthly EMI is Rs.8,861 or Rs.8,862 (on an alternate basis). 

    If you are planning to take a personal loan and are wondering how your loan repayment schedule would look, use the BankBazaar Personal Loan EMI Calculator to find that out.

    *The figures quoted here are for the purpose of understanding only. The applicable taxes (if any) have not been taken into consideration. 

    Compare Oriental Bank of Commerce personal loan with loans from other lenders

    Particulars  Oriental Bank of Commerce Personal Loan  United Bank of India Personal Loan  SBI Personal Loan  HSBC Bank Personal Loan 
    Interest rate  11.00% p.a. to 12.50% p.a.  13.9% p.a. onwards  12.00% p.a. onwards  10.99% p.a. to 17.84% p.a. 
    Processing fee  0.50% or 1.00% of the loan amount  1.18% of the loan amount  1% of the loan amount + applicable GST  Up to 1% of the loan amount 
    Foreclosure charges  As per the terms and conditions of the bank  As mentioned in the loan document  3% of the outstanding loan amount  Up to 3.75% of the outstanding principal amount 

    Frequently Asked Questions (FAQs) on Oriental Bank of Commerce Personal Loan 

    Why do I need to provide documents for KYC?

    A: KYC stands for ‘Know Your Customer’. It is a compulsory process through which banks gather information about their customers. These include the identity and the address of the customers. This process has been mandated so that the services provided by the bank are not misused by the customers.

    Can I apply for a personal loan from Oriental Bank of Commerce online?

    A: Yes, you can apply for a personal loan from Oriental Bank of Commerce through the bank website. On the home page of the website click on the ‘Apply Online’ option on the main menu bar. Under this option click on the ‘Other Retail Loan’ option from the drop-down menu. After this, you will be required to enter your mobile no. for registration. You will be able to get the access to the application form after the registration process is done. 

    Can I check the status of my Oriental Bank of Commerce Personal Loan online?

    A: Yes, you can track your personal loan status on the bank website itself. To check the status of your application form you will be required to follow the steps mentioned below: 

    • Visit the official website of Oriental Bank of Commerce at www.obcindia.co.in. 
    • On the home page, click on the ‘Other Retail Loan’ option under the ‘Apply Online’ drop down option from the main menu. 
    • On the next page, click on the ‘Application Form Status’ option. 
    Can I use my reference number to check my application form status?

    A: Yes, you can check the application form status using your reference number. Follow the steps mentioned below to check the status: 

    • Visit the official website of Oriental Bank of Commerce at www.obcindia.co.in. 
    • On the home page, click on the ‘Other Retail Loan’ option under the ‘Apply Online’ drop down option from the main menu. 
    • On the next page, click on the ‘Application Form Status’ option. 
    • Check the box next to the ‘Reference No.’ option. 
    • Fill in the details under the ‘Enter your Loan reference no.’ or ‘Lead Number’ field. 
    • Enter the ‘Captcha Code’ and click on the ‘Submit’ button. 
    Can I use my mobile phone number to check my application form status?

    A: Yes, you can use your mobile number to check the status of your application form. You will be required to follow the steps mentioned below: 

    • Visit the official website of Oriental Bank of Commerce at www.obcindia.co.in. 
    • On the home page, click on the ‘Apply Online’ option from the main menu. 
    • Under the ‘Apply Online’ option, click on ‘Other Retail Loan’. 
    • In the next page, click on ‘Application Form Status’. 
    • Check the box next to the ‘Mobile No.’ option. 
    • Enter your mobile number in the field provided and click on the ‘Send OTP’ button. 
    • You will receive a One Time Password or OTP on your phone number. 
    • Enter the OTP in the field provided under ‘Enter OTP’ and click on the ‘Submit’ button. 

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

        

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    Oriental Bank Personal Loan Reviews

    Write a Review
    • Oriental Bank of Commerce Personal Loan
      " Good service "
      0.5 4.5/5 "Excellent!"
      I have taken personal loan through Oriental Bank Of Commerce directly.The rate of interest was quite nominal and also got the loan sanctioned on exact time frame .I have availed this loan on 2016 and it is still active.Bank agent shared the required details about the loan process.
      Was this review helpful? 3
      , noida
      Reviewed on Nov 11, 2019
    • Oriental Bank of Commerce
      Oriental Bank of Commerce Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      From Oriental Bank of Commerce I taken Rs.1.5 lakh which has nominal interest around 9% per annum. I am best part is processing is nil and the loan amount I got immediately, the customer executives are very prompt because everything was explained before taking the loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 13, 2019
    • Oriental Bank of Commerce Personal Loan
      "GOOD LOAN"
      0.5 5.0/5 "Blown Away!"
      I am using the loan from last 6 years and the loan amount given by the bank was 3L, the rate of interest was 8-8.25% it is nominal. The documentation process was simple and there was processing fee applicable as 1% of the loan amount. The duration for repaying was 48 months.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 30, 2019
    • Oriental Bank of Commerce Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I have applied for Personal Loan directly with Oriental Bank Of Commerce .The loan amount got sanctioned within 12 days.The rate of interest and the processing fee was nominal .While submitting the documents i have not faced any issues . The loan amount was sufficient ,I have got the loan amount sanctioned on time .The Overall Service is Good to me.
      Was this review helpful? 0
      , sonipat
      Reviewed on Mar 23, 2019
    • Oriental Bank of Commerce Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this Personal loan a pretty while back and the process in getting this loan was pretty simple. The loan amount has been sufficient and the interest rate which they had offered me was less when compared with the other banks. There was no charges made by them as well.
      Was this review helpful? 1
      , chandigarh
      Reviewed on Mar 20, 2019
    • Oriental Bank of Commerce Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had closed my personal loan with the Oriental Bank of Commerce. The response was prompt and they provide a customer service. The loan process was very simple. It was closed before 5 years. I have taken this loan for the jewellery purpose.
      Was this review helpful? 15
      , bangalore
      Reviewed on Feb 07, 2018
    • Oriental Bank of Commerce Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have postponed the car loan because of the year end . I will be getting the loan next year, so that the model of the car will be upgraded, so that was the reason I haven't got the car loan from the Oriental bank of Commerce. The customer support service is good from OBC and they gave me better response in regards to my car loan application.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 07, 2018
    • Oriental Bank of Commerce Personal Loan
      "Good One"
      0.5 5.0/5 "Blown Away!"
      It was a good customer service that I received from the Oriental bank side. They called me and said the executive will be coming to your place to pick up the documents but no one came . The bank provided every detail information about the loan process.
      Was this review helpful? 7
      , ludhiana
      Reviewed on Dec 01, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good banking"
      0.5 4.0/5 "Great!"
      I had requested for a personal loan with Oriental bank.The loan amount is 1.2 lakhs.Rate of interest i dot remember.I closed the application as i was not interested to proceed hence got moved to a different bank with good offers.The customer service was good and explained the details.
      Was this review helpful? 3
      , vadodara
      Reviewed on Nov 15, 2017
    • Oriental Bank of Commerce Personal Loan
      "poor service "
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with oriental bank of commerce.Loan amount i requested was 4.5 lakhs.Rate of interest is 11.67 is nominal as compared to others.They had called me after 35-40 days post applying for the loan request,very delay in response,not satisfied with the service.hence closed the application and got loan from a different bank.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Nov 01, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good banking service"
      0.5 2.5/5 "Just OK"
      I had requested for a personal loan with Oriental bank of commerce. Loan amount is three lakhs the interest rate offered was 11% which is higher as compared to others,Post applying i did not receive any update or calls for the same. Overall I am not happy with OBC service,.
      Was this review helpful? 2
      , mumbai
      Reviewed on Nov 01, 2017
    • Oriental Bank of Commerce Personal Loan
      "No response and follow up"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with oriental bank but the application did not proceed i was told that an executive would come to collect the documents after which no one had turned out to collect them nor have i got any information on the application status or the reason why the application did not proceed.
      Was this review helpful? 4
      , kolkata
      Reviewed on Oct 30, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      My personal was taken before 3 years. They have offered me 3L with the interest rate of 12%. I pay EMI of 7k/month through ECS. I got a proper response. The part payment and pre closure option is good. The customer service is good. The loan was disbursed on time. The documentation process was little bit complicated.
      Was this review helpful? 2
      , bhubaneshwar
      Reviewed on Oct 28, 2017
    • Oriental Bank of Commerce Personal Loan
      "excellent service"
      0.5 5.0/5 "Blown Away!"
      The service from ORIENTAL for my personal loan service was excellent the customer service was good , I don't remembered about the rate of interest offered by ORIENTAL,but it was a happy experience from ORIENTAL bank for my personal loan service.
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 27, 2017
    • Oriental Bank of Commerce Personal Loan
      "Transparency is needed"
      0.5 4.0/5 "Great!"
      The interest rate is very low with Oriental bank of commerce personal loans. I have asked for the 3years tenure but at the end of the process they gave me the documents with 5years tenuity. The transparency is missing in the process. The promises need to be fulfilled with OBC.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • Oriental Bank of Commerce Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The personal loan service was fine with Oriental Bank of Commerce . They have disbursed the loan within10 to 15days of time. The customer service was good with Oriental Bank . The rate of interest is nominal with OBC when compared with other banks.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 14, 2017
    • Oriental Bank of Commerce Personal Loan
      "Better Banking"
      0.5 1.0/5 "Really Bad"
      I had applied for a personal loan with oriental bank. I have cancelled my application and got funds from a different source,reason for cancellation is the service was really bad they didnt process my application immediately. Initially i was informed that documents are not required after2 days they asked me to submit the document. Therefore, I am totally unhappy with their service.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 07, 2017
    • Oriental Bank of Commerce Personal Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      The Oriental Bank of Commerce has told that my company has not listed under the eligibility criteria , so that was the reason I haven't got the personal loan from OBC. The customer service was good with OBC, They gave better response in regards to my personal loan application. The rate of interest was nominal when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 14, 2017
    • Oriental Bank of Commerce Personal Loan
      "Fair Response"
      0.5 4.0/5 "Great!"
      I preferred Oriental Bank of Commerce for my personal loan requirement. The bank responded well and I had received proper calls and information from the bank about the loans but due to my credit score constrains I could not avail the loan from the bank.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 30, 2017
    • 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
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