Oriental Bank Of Commerce Gold Loan Interest Rate at 9.25%
| INTEREST RATE | 9.25% |
| LOAN TENURE | Maximum 12 months |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | No |
| PRE CLOSURE CHARGES | As decided by the bank from time to time |
About Oriental Bank Of Commerce
Oriental Bank Of Commerce is a public sector bank in india with total assets 3688 crore. It has headquarter in New Delhi. Oriental Bank Of Commerce was founded on Feb. 19, 1943. It has 2251 branches and total assets 36882488 ATMs across India.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Find details about Oriental Bank Of Commerce which includes Oriental Bank Of Commerce Official Website, Oriental Bank Of Commerce ATMs accross the India, Oriental Bank Of Commerce Branches accross the India, Oriental Bank Of Commerce Contact Numbers, Oriental Bank Of Commerce official EmailID, Oriental Bank Of Commerce Headquarter and Oriental Bank Of Commerce Headquarter Address. Find Oriental Bank Of Commerce Gold loan purpos, Eligibility, Margin, Repayment of Gold Loan ,Security, Documents Required for Gold Loan from below.
Other Products of Oriental Bank Of Commerce:
| Home Loan | Personal Loan |
| Education Loan | Business Loan |
| Car Loan | Two Wheeler Loan |
| Gold Loan | FD Interest Rates |
| Oriental Bank Of Commerce RD Interest Rates | Oriental Bank Of Commerce ATMs Location |
| PPF Account |
The purpose of the Gold Loan is to provide loan to borrowers against pledge of their gold |gold ornaments| gold coins to meet their urgent financial needs with lower interest rate and faster disbursement.
Oriental Bank Of Commerce Gold Loan Eligibility
- Person should be at least 18 years old.
- Any person who owns gold | gold ornaments | gold coins that needs to be mortgaged with the bank.
- Person should have a regular income (optional).
- Persons who are having Savings or Current account with the bank (optional).
Oriental Bank Of Commerce Gold Loan Document Required
- Duly filled up and signed gold loan application form
- 2 passport size photographs
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Proof of Address - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Proof of income -Latest salary slip showing all deductions or Form 16 or Income Tax Returns of 2 previous financial years (optional)
Oriental Bank Of Commerce Gold Loan Amount
Minimum Rs 25,000 and maximum finance under the scheme will be Rs. 10 lakh per borrowerSecurity
Gold or gold ornaments or gold coins etc. and since these can easily get liquidated in case of any default, banks offer these loans easily and at lower rates.
Oriental Bank Of Commerce Gold Loan Tenure
It is a short term loan. As per RBI guidelines, the tenor is limited to 1 year, in case of non-agriculture use. Some of the banks offer the tenure of upto 36 months too. You can take your gold back from the bank after you repay the loan completely.
Oriental Bank Of Commerce Gold Loan Repayment
Repayment structure depends on the bank. Mostly, banks permit repayment through EMIs or a bullet repayment at the end of loan term. In case of bullet payment at the end, borrowers need to pay interest on time. The principal amount will be paid in a bullet payment at the end.
Charges Associated with Gold Loan
- Processing Fee: Some banks charge the processing fee which fee can be if negotiated, may be waived off. Valuation Fee: Some banks charge a small amount for valuation of gold. This is paid to the third party valuer.
- Pre-payment Penalty: Some banks may charges penalty for pre-payment of loan.
- Late payment Penalty: It is charged if you make any delay in payment of interest.
Things that you must know before Applying for a Gold Loan
In India, we have emotional attachment with gold because usually, it is kept in the form of family jewellery. When we want to avail gold loan, we are required to keep this gold as a collateral which we do not agree so easily.
It is also required for you to be aware of the quality of gold which qualifies for the gold loan. The purity of gold which is required as a collateral for gold loan should be 18-22 carat or above. No value of precious gems studded in the gold jewellery is taken into account. It is also equally important for the borrowers to go through the terms and conditions mentioned in loan agreement thoroughly.
Further, if you are unable to repay the gold loan on time then there are high chances of losing your pledged gold/ gold jewellery. This may cause undue pressure on you. Hence, it is very necessary for you to think beforehand whether you will be able to repay the gold loan conveniently.
Contact details of Oriental Bank Of Commerce, Oriental Bank Of Commerce SMS balance check number, Oriental Bank Of Commerce SMS banking, Oriental Bank Of Commerce mobile banking, Oriental Bank Of Commerce toll free number,Oriental Bank Of Commerce toll free number 24*7, Oriental Bank Of Commerce miss call number.
- MISSED CALL NUMBERS - 9915622622
- CONTACT NUMBERS - 18001801235, 0120-2580001, 0124-2340940, 0124-4126200, 0124-4126300
Oriental Bank Of Commerce Contact Details
- BANK OFFICIAL WEBSITE - https://www.pnbindia.in
- CONTACT NUMBERS - 18001801235, 0120-2580001, 0124-2340940, 0124-4126200, 0124-4126300
- EMAIL ID - [email protected]
- MISSED CALL NO. - 9915622622
- TOTAL BRANCHES - 2251
- TOTAL ATMS - 2488
- HEADQUARTER - New Delhi
- BANK ADDRESS - Head Office,7, Bhikhaji Cama Place, Africa Avenue,New Delhi-110 066.
Oriental Bank Of Commerce Gold Loan FAQs Gold Loan Document Required
