Oriental Bank of Commerce provides housing loan for Construction/ purchase of Residential House/ Flat and for Repairs / Renovation/ Furnishing of house. Loan amount for construction, etc is 40 times in case of individual and 60 times for salaried persons - of Gross Monthly Income, for repairs, etc, amount is Max. Rs.10.00 lacs or 30% value of House/ flat whichever is lower. Bank keeps mortgage of property as security. Bank has simple documentation and criteria set for loan borrowers.
Highlights
Interest Rate
0%
Loan Amount
Min. - Rs 100000
Max. - Rs 10000000
Tenure
Min. - 1 Yrs.
Max. - 20 Yrs.
Time to Process Loan
7 days
Interest Rates
Tenure
Interest Type
Interest Rate
Offer
10 - 20 Yrs.
Floating
11.5 %
5 - 10 Yrs.
Floating
11.25 %
1 - 5 Yrs.
Floating
11 %
Fees & charges
Fees & charges
Processing Fee
0.5 %
Late Payment Penalty
2 %
Pre-Payment Charges
2 %
Changing Fixed to Floating rate of interest Charges
1 %
Changing Floating to Fixed rate of interest Charges