Oriental Bank of Commerce (OBC) personal loan interest rates typically start from 5.99% p.a. However, the Oriental Bank personal loan interest rate they offer depends on your employment type and credit profile. Here’s a breakdown of how OBC structures its personal loan rates:
For pensioners, the rate begins at 5.99% p.a.
For government or PSU employees, the rate is One-Year MCLR + 2.75%.
For corporate or private-sector salaried employees, the rate is One-Year MCLR + 3.75%.
The processing fee is around 0.50% to 1.00% of the loan amount, depending on your profile.
Prepayment (foreclosure) is generally nil, according to OBC’s terms.
If you delay an EMI (“overdue EMI”), OBC adds a penal interest of +2% above your normal rate.
OBC offers competitive personal loan rates, especially for pensioners and government employees, but the final rate you’ll get depends heavily on your job type (PSU/government vs corporate), your credit score, and the bank’s current MCLR. This is all about what is Oriental Bank of Commerce personal loan interest rate.
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The Oriental Bank of Commerce merged with Punjab National Bank in 2020, and the rate of interest for personal loans is almost similar to that of PNB. I availed a loan from OBC in 2021 for my daughter’s marriage, and the interest rate was 12.5% p.a. It can slightly vary depending on the loan amount, repayment tenure, your CIBIL score, and so on. I can share a few things about the Oriental Bank of Commerce personal loan interest rate.
What is Oriental Bank Personal Loan Interest Rate?
A close friend recommended OBC to me, but back in 2021, I couldn’t find the website and any other details related to the bank\'s personal loan facilities. I asked my brother, who works in a bank, and he told me OBC, along with UBI, has merged.
I am sharing the interest rates for the personal loan that I availed below.
Floating Interest Rate | Fixed Rate |
11.50% p.a. | 12.50% p.a |
These interest rates are specifically for pensioners like me, so for salaried people, the rates may vary. I am sharing another table with estimated rates of interest for government and corporate employees drawing
CIBIL Score | Floating | Fixed |
800 | 11.50% p.a. | 12.50% p.a. |
750 to 800 | 12.50% p.a. | 13.50% p.a |
680 to 749 | 13.5% p.a. | 14.5% p.a |
Less than 680 | 15% | 15% |
That’s all I know about the OBC personal loan interest rates. I hope this gives you a bit of an idea.
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What is Oriental Bank of Commerce Personal Loan Interest Rate?
aryasmita
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10 months
2025-02-25T09:28:56+00:00 2025-02-25T09:28:56+00:00Comment
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