Q. What are the age requirement for an individual to take Oriental Bank of Commerce personal loan?
A. At the time of taking the loan the minimum age requirement is 21 years and the applicant must be less than 68 years of age.
Q.What is the minimum salary requirement for a salaried individual to get a personal loan from Oriental Bank of Commerce?
A. The applicant’s net monthly salary must not be less than Rs.10,000. The net take home salary should not be less than 30% of gross salary after the EMI for the proposed loan is deducted.
Q.What is the requirement for a pensioner to avail personal loan from Oriental Bank of Commerce?
A. The net take home pension should not be less than 50% of the gross pension after the EMI installment for the proposed loan is deducted.
Q.What is the maximum loan amount offered as personal loan by Oriental Bank of Commerce?
A. The maximum loan amount for salaried individuals is Rs.5 lakhs and for pensioners it is Rs.2 lakhs.
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.
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