Oriental Bank Of Commerce Gold Loan

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

Oriental Bank Of Commerce Gold Loan Interest Rate	7.25% per annum
Oriental Bank Of Commerce Gold Loan Rate Per Gram	₹ 3,800 to ₹ 4,350
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% of 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

Oriental Bank Of Commerce (OBC) Gold Loan Explanation

Oriental Bank of Commerce gold loan can be availed to meet an urgent need for cash by pledging one’s gold ornaments or gold coins as collateral. A Gold loan is one of the quickest and easiest ways of borrowing money and can be availed by any existing customer of the Oriental Bank of Commerce as well as new borrowers. With Oriental Bank of Commerce, you will not only be able to avail of the gold loan easily but it will also be at a competitive interest rate.

Oriental Bank Of Commerce Comparision With Other Banks

Particulars	Oriental  Bank Of Commerce	SBI	HDFC Bank
Interest Rate	7.25% per annum	7.25% per annum	9.90% – 17.55%
Processing Fees	Up to 0.85% of the loan amount	0.50% of the loan amount	1.50% of the loan amount
Loan Tenure	3 months to 60 months	3 months to 36 months	3 months to 24 months
Loan Amount	Up to Rs. 1 Crore	₹ 20,000 to ₹ 20 Lakh	₹ 25,000 to ₹ 50 Lakh
Foreclosure Charges	Up to 0.05% of the outstanding amount	Nil	Nil after 3 months
Repayment Options	Y	Y	Y
Lowest EMI Per Lakh	₹ 2,801 to ₹ 3,424	₹ 3,111 per lakh	₹ 4,610 per lakh

 

Tips To Get Gold Loan From Oriental Bank Of Commerce Fast

• Oriental Bank of Commerce recognizes both hallmarked and non-hallmarked embellishments for getting a gold development. Regardless, you can get the most raised gold loan rate per gram for brand name decorations, as it diminishes the chances of under-valuation by the valuer. Moreover, a couple of banks charge lower planning costs on hallmarked gold diamonds.
• Oriental Bank of Commerce changes the expense of 22-carat gold for the perfection of gold. Therefore, reliably endeavour to get against higher righteousness decorations as it will present to you the most raised entirety for gold development.
• Oriental Bank of Commerce will register the net heap of pearls to discover the proportion of advance against the gold you can get. Constantly, endeavour to pick embellishments that have the least gems and stones. An enormous bit of the banks will reduce the substantialness of pearls and stones from a total heap of embellishments. The Bank will rely upon the report of his gold valuer to figure the net weight.
• Higher the substantialness of pearls and stones in enhancements, cut down the net weight and assessment of diamonds which achieves the lower proportion of diamond advance you can get Further, Oriental Bank of Commerce will not recognize gem jewels if the gold used is under 18-carat faultlessness. By far most of the valuable stone decorations are made in 16 carats to 18-carat gold and hence, will achieve low gold development per gram.
• Persistently endeavour to get the best LTV on the assessment of gold. Oriental Bank of Commerce is allowed by RBI to charge a most outrageous LTV of up to 85% to process the proportion of gold credit you are equipped for.

Advantages Of Oriental Bank Of Commerce Gold Loan

1. Oriental Bank of Commerce provides loans against gold to proprietary firms, individuals, and partnerships.
2. A person can avail of any amount between Rs. 25,000 and Rs. 10 crores if he/she avails of 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.

How Much Loan Can I Get From The Oriental Bank Of Commerce (OBC) Gold Loan?

As per the latest gold prices, the Oriental Bank of Commerce (OBC) Gold Loan Per Gram rate is ₹ 3,800 to ₹ 4,350. Per gram rate changes as per the purity of the gold.

Oriental Bank Of Commerce (OBC) Gold Loan Per Gram Apr 26 2024

Updated - Gold Loan Per Gram Rate w.e.f Apr 26 2024
Gold Weight	Gold Purity 24 Carat	Gold Purity 22 Carat	Gold Purity 20 Carat	Gold Purity 18 Carat
1 gram	4621	4290	3900	3510
10 gram	46210	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 Gold Loan

Gold is considered the most valuable and important metal in India. We practice buying and selling 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 Jewel 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 7.25% per annum.
• Oriental Bank Of Commerce (OBC) Gold Loan Rate Per Gram is ₹ 3,800 to ₹ 4,350.
• 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 a very known sort of financial product 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 of 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 at Home 

Gold Loan at Home is a  doorstep loan service that allows you to borrow money without leaving your home. The service is quick, flexible, and cost-effective, with low-interest rates. Before submitting a loan request, you may use the gold loan calculator to determine the worth of your gold or the loan amount. Getting a Gold Loan at home is a simple and quick process that takes only a few minutes.

One of our employees will contact you and visit your home within 30 minutes. The necessary gold loan amount will be delivered immediately to your bank account after all e-documentation and gold identification are completed at your home.

The benefits of getting a gold loan at your doorsteps are:

• Access To Your Loan Account 24 X 7
• Diverse Range of Gold Loan Schemes
• You can get free insurance for your Gold
• There are no hidden fees.
• You will get the maximum value of your Gold
• You can avail your Gold Loan in just 1 visit
• Service at Your Door in 30 Minutes
• Pre & Part Payment Facility
• Your Gold will just be released the same day.

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 The 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.**

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

A Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. A Gold Loan Interest Rate 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 7.25% per annum.

Some additional fees 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 (OBC) Gold Loan Apply Online

Applying for the Oriental Bank of Commerce Gold Loan online 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 yourself of. 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 Dialabank and fill in the required details on the form available.
• One of our Relationship Manager will reach 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.

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 Jewel Loan per gram at attractive rates of interest to fulfil anyone’s dire need of funds for any purpose whether personal or professional. The gold loan is a fully secured form of loan 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) 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 from 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): Applicants can also submit PDC’s with the nearest branch of the OBC loan centre. 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 jewellery like rings, necklaces, bangles, etc is accepted by OBC against the loan.
• The quality of the Gold jewellery should fall between 18 to 22 Carats. Purity at 24 Carat of the Gold cannot be used as collateral for the loan.
• The Lowest Jewel Loan Interest Rate in Oriental Bank of Commerce is 7.25% per annum.

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 of an Oriental Bank of Commerce Gold Loan for agricultural purposes. The bank offers lower rates of Interest rate on 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 the 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 of up to ₹ 25,000.
  • 0.30% of the loan amount, a 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 applies 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.

Oriental Bank Of Commerce Gold Loan Highlights

Age	18 – 70 years
Minimum Loan Amount	Rs. 1000
Maximum Loan Amount	Rs. 1 Crore
Oriental Bank of Commerce Gold Loan Interest Rate	7.25% per annum
Loan Tenure	From 3 months to 60 months
Gold Items accepted	Jewelry and gold coins sold by banks
Oriental Bank of Commerce Gold Loan Processing Charges	0.85% of the loan amount

How Does Oriental Bank Of Commerce Work, Here’s An Example

The suitability of the loan is determined based on the purity of gold, LTV, and weight of gold. Suppose Mr A and his two friends Mr B and Mr C have different gold values ​​for different purity. Mr A has 50 grams of gold per 22-carat purity. Mr B has 60 grams of gold in 20 carats of purity and Mr C has 70 grams of gold in purity or 22 carats. They approached the Oriental Bank of Commerce to get a gold loan. The price used to calculate the suitability of their gold loan according to the high 85% LTV will vary with the purity of the gold and therefore, will lead to the validity of the gold loan.

FAQs About Oriental Bank Of Commerce Gold Loan

✅ What is the 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 for non-agricultural purposes.

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

Oriental Bank of Commerce (OBC) Jewel Loan Per Gram rate is ₹ 3,800 to ₹ 4,350.

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

The Oriental Bank of Commerce Interest rate on Gold loans is 7.25% per annum.

✅ 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 Interest rate on the Gold Loan in the 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 myself of on a gold loan from Oriental Bank of Commerce?

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

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

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

✅ What are the charges for pre-payment in the 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 the 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 the 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 security.

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

You cannot pay Oriental Bank Gold Loan through a 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.