ORIENTAL BANK OF COMMERCE
Personal Loan

There are certain features and benefits of OBC Bank personal loan that an applicant should consider before availing the loan:

Once the verification of loan documents is completed and the loan amount is mutually decided then an applicant can easily get the funds without any obstacles. The loan amount is directly transferred to an applicant's account.

There's a flexible tenure period of the loan basically ranging from one year to five years.

OBC Bank offers multipurpose personal loan according to the need of an applicant which includes wedding, family function, Home decor or for several other purposes.

With OBC Bank, the procedure to apply for a personal loan is also very quick and easy. The documents that are required to avail the loan amount are also very minimal.

One of the amazing benefits of availing personal loan from OBC Bank is that an applicant can repay the loan with different modes of transaction. For Example Auto-Debit facility, Electronic Clearing Service (ECS) or PDC; which allows the bank to directly deduct the EMI amount from their account.

With OBC Bank, an applicant can get a personal loan either with collateral security or a guarantor.

There are basically three different types of personal loans offered by OBC Bank to cater to the diverse needs of the applicants. The three major types of personal loan are mentioned below:

1. Personal Loan for Government/PSU Employees - Personal Loan is provided to government /PSU employees for different purpose including marriage (Son or Daughter), education (India or Abroad), family functions(Like Anniversary), and purchase of consumer durables (Refrigerator/Television) or for any other legitimate purpose. Only a permanent or confirmed employee is eligible for this type of personal loan.
2. Personal Loan For Corporate Employees - To avail the personal loan an applicant should be a permanent employee of a corporate organization or any other reputed non-government organization. Personal loan to corporate employees is offered to meet their personal expenses. For Example: Marriage/education/ Vacation etc.
3. Personal Loan For Pensioners - OBC offers a personal loan to pensioners also. It is mandatory that a pensioner shouldn't be more than 75 years of age. Personal loan for pensioners is provided to meet the personal expenses including medical treatments, Bon Voyage, family liability or for any other purpose. Get minimum personal loan interest rate from OBC Bank and a flexible tenure of the loan (Maximum 60 EMIs) repay the loan amount.

Some of the crucial points that why any borrower should choose OBC Bank personal loan are listed below:

• Pleasing Interest Rates - OBC Bank offers some pleasing interest rates to the borrowers. For government/PSU employees it's One year MCLR+ 2.75%. For corporate employees, it's One year MCLR + 3.75%. And, for pensioners, it's One year MCLR+ 2.25%.
• Minimum Requirement Of Documents - The process of providing a personal loan to the borrowers is simple, quick and easy. There's minimal requirement of documents to avail the loan.
• Repayment Without Any Constraint - The repayment structure of personal loan is very comfortable and easy. The applicant can repay the loan with a maximum 60 EMIs and they can also set auto-debit for automatic repayment of the loan EMI's.
• Immediate Approval - OBC Bank immediately approves the documentation procedure and easily avail the funds to the applicants without any trouble.
• Flexible Tenure Of the Loan - An applicant can get flexible loan tenure up to five years. In this period, an applicant can easily repay the loan and of course, depending upon the loan amount and repayment period.
• Multifunction Loan - There are different requirements of individuals due to which they want to take a personal Therefore, OBC provides multipurpose loans according to the requirement of an applicant.

Eligibility Criteria for Government Employee

Eligibility Criteria for Corporate Employee

Eligibility Criteria for Pensioners

Following are the other products offered by the Oriental Bank of Commerce (OBC) for its customers:

• Digital Banking
• Deposits
• Retail Loan
• Insurance & TPP
• Priority Sector
• Government Business
• MSME
• Forex

Processing fee and other charges:

Details for personal loan processing fees and other charges applicable on your loan:

• For pensioners and corporate workers: 1.00% of the loan amount plus applicable taxes.
• For Government and PSU employees: 0.50% of the loan amount with a minimum of Rs 500/- +Service tax, if any.

MyMoneyMantra is a website through which an applicant can apply for a personal loan without any worries. It is an amazing application tool where an applicant can review their loan eligibility status. On MyMoneyMantra, an applicant can check their OB Celigibility for a personal loan. MyMoneyMantra is ready to help you with the entire loan application procedure. Below mentioned are some features and benefits for the applicants looking for a personal loan on MyMoneyMantra:

• One of the main benefits is that MyMoneyMantra facilitates easy documentation. An Applicant can quickly get the loan amount from OBC.
• MyMoneyMantra also mentions the processing fee for separate banks so that the borrower who's willing to take a personal loan from OBC Bank is aware ofall the charges.
• Another feature of MyMoneyMantra is that it helps in determining the eligibility status and repayment capacity depending upon the income of the applicant.
• All the applications for OBC Bank personal loan are safe and secure as applications are sent electronically to the concerned department of OBC.

To apply for OBC Bank personal loan on MyMoneyMantra. All the essential information is provided below to apply:

• Visit the official website - MyMoneyMantra.com
• Firstly, select the personal loan option. Secondly, enter the loan amount
• Mention your personal information including first name and last name.
• Enter the personal loan amount that you need to avail from OBC Bank
• Select the loan period i.e., between 12 months to 60 months.
• Mention the employment type whether self-employed or salaried person.
• Enter the details about your current employer.
• Provide information about your income.
• Then, choose your residential city from the given options.
• Enter your contact details like mobile number and Email Id so that MyMoneyMantra can contact you and advice/suggest you about its product and services.