How to Apply Personal Loan in OBC Bank?

Oriental Bank of Commerce (OBC) was merged with Punjab National Bank (PNB) in April 2020 as part of a major public sector bank consolidation initiative by the Government of India. As a result, OBC no longer functions as a separate entity, and all its banking services, including personal loans, have been integrated with PNB. Therefore, if you want to learn how to apply personal loan in OBC Bank, you will now need to apply through PNB, following their updated loan application process and policies.

To apply for a personal loan with PNB, first ensure that you meet the eligibility criteria. 

• Start by visiting the

  PNB personal loan

  portal, and review the loan schemes. 

• Once you select the loan, you can directly access the loan application form after clicking the Apply online button. 

• Fill in your personal, employment, and financial details in the online form.

Alternatively, you can visit a PNB branch for offline application. You will need to submit key documents such as identity proof (Aadhaar, PAN), address proof, recent salary slips or ITRs (for self-employed), and bank statements. No collateral is required, but a third-party guarantee is usually necessary.

After submission, the bank verifies your documents and creditworthiness. Upon approval, the loan amount is disbursed directly to your account. The maximum loan amount is up to Rs. 10 lakh, depending on income and repayment capacity. The repayment tenure can be up to 60 months with EMIs.

Hi there. I took a loan last year. I decided to apply at the OBC Bank as it was suggested by my friend. But I found that the OBC Bank has merged with the Punjab National Bank. So, I applied there. To answer your question about how to apply personal loan in OBC Bank, I’ll share the method through which you can apply at PNB Bank as the former no longer exists as an individual institution.

How to Apply for a Personal Loan at PNB?

Here is the method you can follow to apply for a personal loan:

1. Go to the

   WeblenS-Online Loan Application page on the PNB page

   .

2. Click on the Retail Loan option. Choose the Personal Loan option.

3. The loan application has three stages: Personal details, Employment details and Asset details. 

4. You’ll have to fill in the information and submit relevant documents across the three stages.

5. Once you complete each stage, click Save and then Proceed. 

6. Once you finish all three stages, your loan application will be sent to the bank.

I am also sharing the documents you’ll need to submit below.

What are the Documents Required for Loan at PNB?

Here are the needed documents:

1. A loan application form, duly completed, with a passport size photograph.

2. ID proof with a unique identification number if you’re an applicant who is a military or paramilitary personnel.

3. Age Proof.

4. Income proof.

5. Educational qualification proof.

6. Residential address and official address proofs.

7. For salaried applicants: Latest Salary Slip and Form 16, duly authenticated by the employer

8. For non-salaried: IT returns for the last three financial years

9. Any other document based on the application.

This is all about the Oriental Bank of Commerce personal loan apply online. I hope you find this helpful.