Oriental Bank of Commerce provides you personal loan to meet your travel requirement, medical treatment, purchase of consumer durables, even to buy gold ornaments, then to meet expenses of marriage/ family functions etc. You can take loan for registration of home with local govt. bodies. Bank has simple eligibility criteria and also gives relaxation in eligibility criteria according to terms and conditions specified. The repayment of loan can be done in 60 EMIs.
Highlights
Salaried
Self Employed
Loan Scheme
Personal loan
Personal loan
Loan Type
Term Loan
Term Loan
Loan Amount
Min. - Rs 50000
Max. - Rs 500000
Min. - Rs 50000
Max. - Rs 500000
Tenure
Min. - 12 months.
Max. - 60 months.
Min. - 12 months.
Max. - 60 months.
Interest Rate
Min. - 12.5 %
Min. - 13.5 %
Time to Process Loan
7 days
7 days
Fees & charges
Fees & charges
Salaried
Self Employed
Processing Fee
0.5 %
0.5 %
Comment on Charges
2% penal interest over the normal lending interest rates on the overdue amount for irregular period.
2% penal interest over the normal lending interest rates on the overdue amount for irregular period.
Security
Security
One personal guarantee preferably of fellow employee, subject to the condition that one employee will not stand as guarantor in more than two accounts.
For Pensioners: Guarantee of the spouse eligible for family pension or in case of non-availability of spouse any other family member or third party guarantee acceptable to the bank.