All about Oriental Bank of Commerce Car Loan
Everyone dreams of having own vehicle, and it is not always necessary that the person has the money to pay for the car. They have to think of a finance option that provides money to buy for the vehicle. An Oriental Bank of Commerce Car Loan is a convenient scheme that allows a person to bring home a car. Oriental Bank of Commerce Car Loan can be used to buy a car of any brand and model. Oriental Bank of Commerce Car Loan offers monetary support to people and helps them in acquiring the dream vehicle.
About Oriental Bank
Oriental Bank of Commerce Car Loan Interest Rates
New Car Interest Rate
Amount Less than 3 lacs
- Interest Rate 10.25 to 10.15
- Average 10.5
Amount 3 – 6 lacs
- Interest Rate 9.50 to 10.25
- Average 9.75
Amount 6 – 10 lacs
- Interest Rate 9.25 to 9.75
- Average 9.5
Amount 10 – 20 lacs
- Interest Rate 9.10 to 9.65
- Average – 9.35
More than 20 lacs
- Interest Rate 8.90 to 9.25
- Average – 9
Used Car Interest Rate & Loan Against the Car
- Interest Rate 13% – 16%
- Average 14%
Oriental Bank of Commerce Car Loan Tenure
- New Car Loan – Minimum 2 year – Maximum 7 year
- The used car loan and Loan against the car – Minimum 2 year – Maximum 4 year
Oriental Bank of Commerce Car Loan Charges
- Pre-closer charges – 0 – 2.5%
- Processing Fee – 0 to 3 %
Special Note: Banks do not provide Car Loan to bad credit holder, but one can fulfill their money requirement with Gold Loan easily.
Oriental Bank of Commerce Car Loan Highlights
- Firstly, No extra charge
- Secondly, the Less documentation process
- Thirdly, CIBIL Score 700 & more; Note – Most banks avoid giving loans if you have a low CIBIL score/ credit score
- Moreover, the Tenure period differs from 1-7 years.
- Next, Moderate Interest Rates
- Besides that, Effectively accessible as well as immediately affirmed
- Also, Immediately available
- All above, simple month to month repayment choices
Oriental Bank of Commerce Car Loan Eligibility
- Age – Minimum 21 years; Maximum60 years Note: time of maturity of the loan
- Income – Minimum Income in metro city 22k; In a rural area 16k; In an urban area 18k
- Work Experience – Minimum of 2 years of total experience
- Must have completed one year of service in the current job
- Residence Stability – Two years in the city; One year in the current residence or should be residing in the own house
- Age – Minimum 30 years (25 years with co-applicant); Maximum 60 yrs at the time of maturity of the loan
- Income Proof – Minimum ITR 2 lacs
- Business Stability – 2 years of minimum business stability mitigated with proof
- Residence Stability – Two years in the current city; One year in the current residence or should be residing in the own house
Documents Required For Oriental Bank of Commerce Car Loan
- Firstly two passport size photos of the applicant
- Secondly identity proof required includes- PAN card / Driving License / Passport / Voter Id / Aadhar card
- Thirdly residence proof required documents like – Electricity Bills/ Water Bills / Rental agreements /Driving License/ PAN card / Voter Id / Aadhar card
- Next income Proof of Latest 3 months salary slip
- Also the latest six months banking statements
- Firstly two passport size photos of the applicant
- Secondly identity proof required includes – PAN card/Driving License / Passport / Voter Id / Aadhar card
- Thirdly residence Proof document like Electricity Bills / PAN card/ Water Bills / Rental agreements / Voter Id / Aadhar card / Driving License
- Moreover business proof involves Minimum ITR 2 lacs.
- Also the latest six months banking statements.
Addition Documentation For Oriental Bank of Commerce Car Loan
How to Check Car Loan Eligibility?
- Firstly, borrower must be an Indian citizen.
- Secondly, the minimum applicant age 21 yrs as well as older than 60 yrs at loan maturity to avail car Loan.
- Thirdly, He/she must have a good annual income that properly demonstrates his/her capacity for loan repayment the amount he borrows.
- Besides that, the applicant must have secure employment working current job status of one year as well as regular income in the account.
- More importantly, he must possess a mobile number that marks his address and the occupation of that address for an expected duration of time.
- Besides that, the borrower should have some source of income.
- After that, the monthly income of the applicant should be Rs. 18k minimum.
- Moreover, the borrower should be in the business for two years.
- After that, the borrower should be from two years in employment as well as from 1 year in the same company.
- Finally, CIBIL scores of the borrower should be more than 750.
How to Apply for Oriental Bank of Commerce Car Loan?
- Firstly visit www.dialabank.com
- Secondly, Fill the online application form
- Thirdly, Enter the basic information in the above application form.
- After that, For more information call 7707861526 or 60011600 with your city code.
- The process is very easy and simple.
Ques. Does Dialabank charge me for its services?
Ans: No, Services by Dialabank come to you free of cost.
Ques. A Best online platform for availing Oriental Bank Car Loan?
Ans: Firstly Dialabank is the best platform to get a loan through. Secondly, they provide you hassle-free process as well as the low rate of interest in the market as compared to others.
Ques. How much processing fee for Oriental Bank Car Loan?
Ans: Processing fee started at 0 -3%.
Ques. In Oriental Bank Car Loan can I avail EMI facility?
Ans: Yes, he /she can avail Term Loan with EMI as repayment type for the tenures of 2 years to 7 years.
Ques. Whom do I contact for more details?
Ans: Call us (enter area code) 600-11-600 or 7707861526 for more details.
Ques. How much funding can I expect in terms of the car loan?
Ans: Firstly this factor differs from bank to bank. Besides that, few banks offer the complete 100% funding.
Ques. Can I change my car loan tenure?
Ques. Can I transfer my car loan to another person?
Leading Car Loan Providers (Click to Apply)
Table of Contents
- 1 All about Oriental Bank of Commerce Car Loan