⍟  Lowest Interest Rate of 0.79% p.m.
⍟  Highest Rate Per Gram ₹ 5,121
⍟  No Melting of Your Gold
⍟  Get Loan in 1 Visit Only
⍟  100% Safety of Your Gold (kept in Bank Locker)

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Oriental Bank of Commerce Gold Loan

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Oriental Bank of Commerce (OBC) Gold Loan Key Features – Apply Now

Oriental Bank of Commerce Gold Loan Interest Rate 7.0% per annum
Oriental Bank of Commerce Gold Loan Rate Per Gram Rs.5,121
Oriental Bank of Commerce Processing Fee 1% or ₹1000 whichever is higher
Oriental Bank of Commerce Maximum Loan Amount Up to Rs. 1 Crore (With Income Proof)
Oriental Bank of Commerce Minimum Loan Amount Up to 70% LTV
Oriental Bank of Commerce Prepayment Charges 0-1%
Oriental Bank of Commerce Repayment Tenure Up to 12 months
Oriental Bank of Commerce Repayment Scheme Bullet Payment Scheme, Overdraft Scheme

Advantages of Oriental Bank of Commerce Gold Loan

Advantages of Oriental Bank of Commerce Gold Loan via Dialabank

  1. Oriental Bank of Commerce provides gold loans to proprietary firms, individuals, and partnerships.
  2. A person can avail any amount between Rs. 25,000 and Rs. 10 crores if he/she avails the OBC Gold Loan service.
  3. The bank charges a processing fee of up to 1% on the total loan amount which is the lowest compared to other banks.
  4. Any individual who is applying for a Personal Loan or a Business Loan, but is not eligible for them can apply for Gold Loan as these do not require a good credit score or income proof for being eligible for the loan.
  5. Oriental Bank of Commerce charges a borrower up to .50% on the principal amount in case of a Gold Loan Foreclosure.

gold loan at 7%

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How much Loan can I get from Oriental Bank of Commerce (OBC) Gold Loan

As per the latest gold prices, the Oriental Bank of Commerce (OBC) Gold Loan rate Per Gram is Rs.5,121. Per gram rate changes as per the purity of the gold.

Oriental Bank of Commerce (OBC) Gold Loan Per Gram – January 2021

Updated - Gold Loan Per Gram Rate w.e.f 1st Jan 2021

Gold Weight Gold Purity
24 Carat
Gold Purity
22 Carat
Gold Purity
20 Carat
Gold Purity
18 Carat
1 gram 4680 4290 3900 3510
10 gram 46800 42900 39000 35100
20 gram 93600 85800 78000 70200
30 gram 140400 128700 117000 105300
40 gram 187200 171600 156000 140400
50 gram 234000 214500 195000 175500
100 gram 468000 429000 390000 351000
200 gram 936000 858000 780000 702000
300 gram 1404000 1287000 1170000 1053000
400 gram 1872000 1716000 1560000 1404000
500 gram 2340000 2145000 1950000 1755000

About Oriental Bank of Commerce (OBC) Gold Loan

Oriental Bank of Commerce Gold Loan

Gold is considered as the most valuable and important metals in India. We practice buying and selling of gold for a long time. People now started investing their gold differently by availing loans against it. Gold Loan helps individuals to face the financial crisis one is going through.
People generally save their gold by keeping it in safe places but Gold Loan has provided all the great opportunity of availing funds out of it without selling.

  • Oriental Bank of Commerce (OBC) Gold Loan Interest Rate is 7.0% per annum.
  • Oriental Bank of Commerce (OBC) Gold Loan Rate Per Gram is Rs.5121.
  • Oriental Bank of Commerce (OBC) Gold Loan Tenure is up to 12 Months.
  • Oriental Bank of Commerce (OBC) Gold Loan processing fee is 1% or ₹1000 whichever is higher.

Oriental Bank of Commerce Gold Loan Eligibility

Gold Loan acts as a support to you concerning long and short term funds. It is now very known sort of financial products provided by the banks. With very little paperwork required, the Gold loan is available with banks at a very reasonable rate of interest. The applicant gets the loan amount within an hour with the Oriental Bank of Commerce (OBC) after completing the process and getting the approval.

Major Eligibility criteria for availing the Oriental Bank of Commerce Gold Loan is:

Age  18-70 years of age
Nationality Indian
Employment Status Salaried, Self-Employed
Gold Quality Minimum 18 Carats

Oriental Bank of Commerce (OBC) Gold Loan Interest Rate, Fees and Charges

A Gold Loan can fulfill all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by the Oriental Bank of Commerce are lower in comparison to other loans because it is a fully secured loan.

The Oriental Bank of Commerce gold loan interest rate is 7.0% per annum.

Some additional fee charged by the banks are:

  • Processing fee – 1% of the loan amount or ₹1000 whichever is higher
  • Documentation charges 
  • Gold Valuation charges
  • The Oriental Bank of Commerce charges no additional fees for part payment or the foreclosure of the Gold Loan.

Oriental Bank of Commerce Gold Loan Documents Required

Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the Oriental Bank of Commerce wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire Oriental Bank of Commerce Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures the high security of your gold ornaments till the loan is closed.

Documents required for Applying for Oriental Bank of Commerce Gold Loan are :

Photographs 2 Passport Size
Identity Proof Aadhar Card, Passport, PAN Card, etc. (Only 1 is required)
Residence Proof Aadhar Card, Driving License, Ration Card, etc. In the case of Rented House then the rent agreement or water/electricity bills for the last three months can be considered. (Only 1 is required)
Agricultural Land Proof Required only if the Loan is taken for Agricultural Purpose

**Any other documents as requested by the bank shall be duly submitted.**

Types of Oriental Bank of Commerce (OBC) Gold Loan

Oriental Bank of Commerce offers various schemes attached to the Gold Loan product which are listed below:

  • Loan Against Gold – Oriental Bank of Commerce provides Gold Loan at attractive rates of interest to fulfill anyone’s dire need of funds for any purpose whether personal or professional. The gold loan is a fully secured form of loans and therefore, the bank has no risk in lending the amount to the applicant so it is provided at a lower rate of interest when compared to other forms of Loan products.
  • Loan Against Gold for Agriculture – Oriental Bank of Commerce provides Gold Loans specifically for agriculture purposes to farmers at a special rate of interest as compared to gold loans given for other uses. They are given special offers and you need to provide the bank Land proofs for which you are taking the Loan.

Oriental Bank of Commerce (OBC) Gold Loan Apply Online

Applying for the Oriental Bank of Commerce Gold Loan service is a simple and hassle-free process that can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with basic information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.

You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.

  • Meet Dialabank over the network at www.dialabank.com and fill the required details on the form available.
  • One of our Relationship Manager will reach you out soon and guide you with the best Gold Loan available for you.
  • Enjoy free service throughout the process with no hidden cost.
  • Know and analyze different options available in the market and complete information with the help of Dialabank.

Oriental Bank of Commerce (OBC) EMI Calculator

Rate of Interest 6 months 1 Yr 2 Yrs 3 Yrs
7.00% 17008 8652 4477 3088
8.00% 17058 8699 4523 3134
8.50% 17082 8722 4546 3157
9.00% 17107 8745 4568 3180
9.50% 17131 8678 4591 3203
10.00% 17156 8791 4614 3227
10.50% 17181 8815 4637 3250
11.00% 17205 8838 4661 3274
11.50% 17230 8861 4684 3298
12.00% 17254 8885 4707 3321
12.50% 17279 8908 4731 3345
13.00% 17304 8932 4754 3369
13.50% 17329 8955 4778 3393
14.00% 17354 8979 4801 3418
14.50% 17378 9002 4825 3442
15.00% 17403 9026 4845 3466

How to Pay Your Oriental Bank of Commerce Gold Loan EMI?

Your Oriental Bank of Commerce gold advance can be reimbursed in the following three different ways.

  1. Standing Instruction (SI): Method of repayment available with existing customers of OBC. EMI of the applicant is deducted for its account automatically at the end of the monthly cycle for the account of OBC associated by the applicant.
  2. Electronic Clearing Service (ECS): Non-OBC applicants can make their EMI deduct automatically from the account by quoting it in the loan. The EMI deducts at the end of the cycle.
  3. Post-Dated Checks (PDC): Applicant can also submit PDC’s with the nearest branch of the OBC loan center. PDC’s should be made available at the latest without any delay.

Oriental Bank of Commerce Gold Loan Contact Number

Call 9878981144 and get instant help and approval for your Oriental Bank of Commerce Gold Loan. Get to know the best offers on Gold Loan available from all the Oriental Bank of Commerce Branches throughout the country to avail the best deal suitable to your needs.

Gold Ornaments Accepted by Oriental Bank of Commerce

  • Gold in the form of jewelry like rings, necklaces, bangles, etc is accepted by OBC against the loan.
  • Quality of the Gold jewelry should fall between 18 to 22 Carat. Purity at 24 Carat of the Gold cannot be used as collateral for the loan.

Use of Oriental Bank of Commerce Gold Loan

The funds acquired by availing the Oriental Bank of Commerce Gold Loan service can be used for several purposes such as:

  • To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc. 
  • For all your business needs such as buying raw material, expansion of business, etc.
  • You can also avail an Oriental Bank of Commerce Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.

Oriental Bank of Commerce Agricultural Jewel Loan Scheme

Scheme Oriental Bank of Commerce Agricultural Jewel Loan Scheme
Interest Rate  Starting from 7% (depends on the sum of the loan 
Least amount of Loan Depends on the value of  jewel which is being kept as security 
Loan period Adjustment of advance sum inside 2 months from the date of reap of yields

Benefits of Oriental Bank of Commerce Agricultural Jewel Loan Scheme

  • Oriental Bank of Commerce does not charge a processing fee up to ₹ 25,000
  • 0.30% of the loan amount, Minimum of ₹ 300 is charged to the amount ranging from above ₹  25,000 – less than ₹ 5 lakh
  • 0.28% of the credit sum, subject to at least Rs.1,500 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore

Oriental Bank of Commerce Gold Loan Overdraft Scheme

Oriental Bank f Commerce offers an Overdraft Scheme. With this, the loan amount is provided as an overdraft facility. It functions as a Credit Card, where you can spend your Gold Loan Amount as per your wishes, anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Muthoot Finance Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.

FAQs About Oriental Bank of Commerce Gold Loan

✅ What is Oriental Bank of Commerce Gold Loan?

Oriental Bank of Commerce provides loans at attractive rates and tenure of choosing the borrower to fulfil the monetary needs of the borrower whether personal or professional. The bank also provides loans against gold for agriculture purposes at interest rates slightly lower than loans against gold for non- agricultural purposes.

How much Gold Loan Can I get per gram from Oriental Bank of Commerce?

Oriental Bank of Commerce (OBC) Gold Loan rate Per Gram is Rs.5,121.

✅ What is Gold Loan interest rate in Oriental Bank of Commerce?

The Oriental Bank of Commerce gold loan interest rate is 7.0%.

How to check gold loan status in Oriental Bank of Commerce?

To check your Oriental Bank of Commerce Gold Loan status online just visit the portal from your web browser and fill in the details of your Gold Loan application.

How to calculate gold loan interest in Oriental Bank of Commerce?

The gold loan interest rate in Oriental Bank of Commerce can be calculated by simply subtracting the principal amount from the total amount to be paid.

What is the maximum gold loan amount I can avail on gold loan from Oriental Bank of Commerce?

You can avail a maximum of up to 75% of your pledged gold jewelry’s market value from the Oriental Bank of Commerce (OBC).

What is the loan tenure of Oriental Bank of Commerce gold loan?

The loan tenure of your OBC gold loan is up to 12 months.

How much processing fee is applicable on Oriental Bank of Commerce Gold loan?

A processing fee of up to 1% of the loan amount is applicable on Oriental Bank gold loan.

What are the charges for pre-payment in Oriental Bank of Commerce gold loan?

The charges of pre-payment in Oriental Bank of Commerce loan vary from 0-1% of the outstanding loan amount.

How to renew Oriental Bank of Commerce Gold Loan online?

To renew your Oriental Bank of Commerce Gold loan online just log in to the portal with your credentials and fill a form of renewal of the loan.

How to pay Oriental Bank of Commerce Gold loan interest online?

You can pay the Oriental Bank of Commerce Gold loan interest online using any of the following options:

  • Net banking
  • Debit cards
  • I-mobile app

What if I can’t pay the interest on Oriental Bank of Commerce Gold loan for 3 months?

If you fail to pay your loan amount in Oriental Bank of Commerce for 3 months then the bank will warn you against further defaults. In case the defaults continue, the bank may consider selling off your gold ornaments kept as a security.

How to pay Oriental Bank of Commerce Gold loan through credit card?

You cannot pay Oriental Bank Gold Loan through credit card as per RBI’s guidelines.

What is the Overdraft Scheme for Oriental Bank of Commerce Gold Loan?

Oriental Bank of Commerce does provide an Overdraft Scheme and the overall loan amount will have a Credit/Loan Limit. In the Oriental Bank of Commerce Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.

What is the Oriental Bank of Commerce Gold Loan closure procedure?

Once the loan is paid, the bank will close your gold loan immediately. 

What is the Oriental Bank of Commerce customer care number?

The customer care number is 9878981144

✅ What is Oriental Bank of Commerce Gold Loan Preclosure charges?

There are no preclosure charges for the gold loan

 What is the maximum gold loan tenure?

The maximum gold loan tenure is 12 months

✅ What is the minimum gold loan tenure of the Oriental Bank of Commerce Gold Loan?

The minimum tenure is 3 months.

✅ What are the foreclosure charges of the Oriental Bank of Commerce Gold Loan?

Oriental Bank of Commerce charges a borrower up to .50% on the principal amount in case of a Gold Loan Foreclosure.

 

 

 

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