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    OBC Personal Loan for Corporate Employees

    Purpose of OBC Personal Loan for Corporate Employees

    OBC Personal Loan for Corporate Employees is one of the many personal loan schemes offered by the bank. The main purpose of this loan scheme is to provide finance to corporate employees for personal/family expenses such as wedding, travel, education, medical and other legitimate expenditures.

    Type of facility offered

    Listed below is the type of facility offered for the personal loan scheme.

    It offers a term loan comprising of 60 EMIs (Subject to the remaining period of the borrower’s service)

    Features of OBC Personal Loan for Corporate Employees

    Listed below are the features of OBC Personal Loan for Corporate Employees.

    • Personal loan for corporate employees
    • High loan amounts up to 15 times the net salary of the borrower
    • Term loan of 60 EMIs
    • Hassle free application process
    • Minimal documentation
    • Dedicated team of customer service to help with the application for the loan
    • Salary account should be with OBC
    • Quick approval

    Benefits of OBC Personal Loan for Corporate Employees

    Listed below are the benefits of OBC Personal Loan for Corporate Employees.

    • The loan offers high loan amounts up to 15 times the net salary amount of the employee(maximum- Rs.5 lakh)
    • No pre-payment penalty charges
    • Low rate of interest
    • Can be applied for online
    • Customised loan specially for corporate employees with benefits designed especially for them

    Rate of interest charged on the loan

    The floating rate of interest charged on OBC Personal Loan for Corporate Employees is base rate plus 3.25% which amounts to a rate of interest of 12.95%

    Eligibility criteria for OBC Personal Loan for Corporate Employees

    Listed below is the eligibility criteria for OBC Personal Loan for Corporate Employees.

    • Permanent employees of corporate companies and reputed non-government organisations and institutions having salary account with OBC bank
    • Length of service- Minimum 3 years of service including service with previous employers if any
    • Minimum salary- Minimum net monthly salary must be Rs. 10,000
    • The net take home salary should not be less than 30% of gross salary after deducting the EMI amount of the personal loan

    Fees and charges applicable on OBC Personal Loan for Corporate Employees

    Listed below are the fees and charges applicable on OBC Personal Loan for Corporate Employees.

    • Processing fee- 0.50% of the loan amount plus service tax
    • Pre penalty charge- There is no prepayment penalty charged
    • Penal interest- A penal interest of 2% is charged over normal lending rates on the overdue amount
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