| INTEREST RATE | 10.20% to 10.45% |
| LOAN TENURE | Max. 84 EMI |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | Yes |
| 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 Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.
Other Products of Oriental Bank Of Commerce:
Oriental Bank Of Commerce Car Loan Purpose
For purchase of all variants of four wheelers (non-commercial use- to be registered as private vehicle).
For purchase of Second Hand Cars to be used as private vehicle only..
Oriental Bank Of Commerce Car Loan Eligibility
- Age: 21 to 60 years.
- Permanent employees of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
- Professionals, self-employed and others who are income tax assessees and persons engaged in agriculture and allied activities.
Oriental Bank Of Commerce Car Loan Documents Required
- Applicant's latest photograph.
- Age Proof- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- KYC (Know Your Customer) Documents.
- Identity Proof (any one): Voter's ID, PAN card, driving license, passport.
- Address Proof (any one): Voter's ID, PAN card, driving license, passport, electricity bill, telephone bill or ration card.
- Income Proof (any one): Latest salary slip, previous year's Form 16, bank statement for the last 6 months.
- Bank Statement or Bank Pass Book of having entries of last 6 months
Oriental Bank Of Commerce Car Loan Amount
Maximum upto Rs. 1 Crore
Margin
15% of on-road cost
Oriental Bank Of Commerce Car Loan Repayment
New Car - Maximum 84 Months
Used Car - Maximum 60 months
Security
Hypothecation of Car | MUV purchased out of Bank Finance. The hypothecation charge shall be registered in the books of RTO.
Tips to Manage Car Loan in a Better Way
(1) Make Proper Schedule for EMIs to be paid
You must make a proper schedule for payment of your EMIs in time and without any hassle or burden.
(2) Never Skip any Payment
Automatic transfer from your bank account is the best option that will make sure that the EMIs are paid every month without fail. In this way, none of the EMIs will skip. This will also help improving your credit score.
(3) Keep Loan Tenure Small
You must keep the car loan tenure as small as possible if your finances permit. It will be beneficial for you in two ways. First, you will get rid of loan in an early manner and second, your interest outgo will be very less as compared to longer tenure car loans.
(4) Make one Extra Payment Every Year
You must try to make an extra payment of loan amount each year. You can do so when you receive any funds like bonus etc. It will reduce your loan tenure or EMIs.
(5) Refinance your Car Loan
You must keep watching other institutions who are offering car loans and their interest rates. If other institution is offering you a car loan at lower interest rate, it would be beneficial to get your car loan refinanced from that institution.
Benefits of Car Loan
- Higher Loan Amount: Banks offer you a car loan of up to 80-100% of the on-road price of the car in case of new cars. The on-road price of a car includes the ex-showroom price, state government tax and insurance cost of the car.
- No Need to Liquidate your Investments: If you avail car loan then there is no need to liquidate your investments which you have made for some other purposes.
- Flexible Tenure: You can go for any loan repayment tenure ranging from 1 year to 7 years according to your choice.
- Tax Benefits: Car Loan can help you save on tax if you are a self-employed person/ businessman and use the car for legitimate business purposes. If you are a self-employed person/ businessman, you can claim the interest paid on car loan as a business expense. In this way, your taxable income will get reduced by the amount of interest you have paid in a financial year on car loan.
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 - www.obcindia.co.in
- CONTACT NUMBERS - 18001801235, 0120-2580001, 0124-2340940, 0124-4126200, 0124-4126300
- EMAIL ID - gad@obc.co.in
- 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 EMI Calculator Oriental Bank Of Commerce Branches Oriental Bank Of Commerce Car Loan FAQsCar Loan Document RequiredOther Banks Car Loan Interest Rates