| Oriental Bank of Commerce Car Loan |
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| Introduction |
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| Oriental Bank of Commerce offer Car and Vehicle Loans for the procurement of new vehicles like scooters, jeeps, motorcycles and cars. The vehicles must be private vehicles meant for non-commercial usage. The maximum ceiling for two wheelers is fixed at up to 90% of the cost of two wheeler including registration charges, insurance and road taxes. For new car, the ceiling is up to Rs10 lakh. Bank charges a processing fee at 0.50% of loan amount with minimum of Rs. 500/-. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
Maximum allowable loan amount is Rs.100 lacs
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maximum loan amount -7.50 lacs
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| Tenure |
Min. - 36 months.
Max. - 84 months.
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Min. - 12 months.
Max. - 84 months.
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| Interest Rate |
10.75 % |
13.25 % |
| Time to Process Loan |
7 days |
7 days |
| Preferred Manufacturers |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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| Comment on Charges |
Processing fees: 0.50%,min-Rs. 500
Margin:15% |
Processing Fees-0.5%
Min-Rs.500
Margin-20% (Under TVS) & 30% (Non TVS) of market value assessed by valuer or purchase value of the second hand car. whichever is less |
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