Oriental Bank of Commerce

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Oriental Bank of Commerce Pension Loan Features

OBC Pension Loan Interest Rate 3.40%
OBC Pension Loan Processing Fee 1%
OBC Pension Loan Tenure 36 months
OBC Pension Loan Amount Minimum Rs. 25000
OBC Pension Loan Amount Max 14 lacs
OBC Family Pension Loan Amount Minimum 2.5 lacs
OBC Family Pension Loan Amount Max. 5 lacs
OBC prepayment 3%
OBC foreclosure 3%

Oriental Bank of Commerce Pension Loan Eligibility

For Oriental Bank of Commerce to be eligible for credit, it’s one in all the mandatory stipulations that one in all the ex-staff constituents encompasses a declaration of the rent. It would facilitate if you were conjointly a beneficiary of the government, the PSU, or the central government. You will be able to conjointly carry home 60% of a month’s rent when you pay your bank instalments.

Oriental Bank of Commerce Pension Loan Eligibility for Central and State Government Pensioners

Eligibility Criteria Key Features
Employer Type Central and State Government
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Written consent from the treasurer not to accept any pension transfer requests
Guarantee Terms By the spouse (eligible for a family pension) or any other third party

Oriental Bank of Commerce Pension Loan Eligibility For Defence Pensioners

Eligibility Criteria Key Features
Employer Type Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Not applicable
Guarantee Terms Not applicable

Oriental Bank of Commerce Pension Loan Eligibility For Family Pensioners

Eligibility Criteria Key Features
Employer Type Central and State Governments including all Armed Forces
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Not applicable
Guarantee Terms Authorized members of the family under the family pension scheme

Maximum Eligible Loan Amount and repayments

For Central and State Government Pensioners:

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 72 years ₹ 14.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

For Defense Pensioners:

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 56 years ₹ 14.00 Lakh 84 months Up to 63 years
56 – 72 years ₹ 14.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

For Family Pensioners (including Defense Pensioners):

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 72 years ₹ 5.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 4.50 Lakh 48 months Up to 78 years
74 – 76 years ₹ 2.50 Lakh 24 months Up to 78 years

Interest Rate On Oriental Bank of Commerce Personal Loan For Pensioners

The borrowing prices for Oriental Bank of Commerce Pension Loan is lower, for instance, by 3.40% p.a. completion of the conditions of old pensioners in their days of completion.

Document Required For Oriental Bank of Commerce Pension Loan

Income proof:- Bank Account Statement and Income Records

Identity proof:- Passport, Voter ID card, Pan Card, Driving License, Aadhaar Card. (you can give any of these)

Address proof: Ration Card, Bank Account Statement, Passport, Driving License, Light bills, Property purchase contract, Aadhaar Card. (you can give any of these)

Loan Amount On Oriental Bank of Commerce Personal Loan For Pensioners

The minimum amount of the loan is Rs 25000. the maximum amount of loan is 14 lacs, and since, the amount of the loan depends on the life of the pensioner and therefore, the sort of pension that he/she prefers.

For State and Central Government Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Less Than 72 Years 25000 14 Lakh 18 Months Pension 60
72 to 74 Years 25000 12 Lakh 18 Months Pension 48
74 to 76 Years 25000 7.5 Lakh 18 Months Pension 24

For Defence Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Up to 56 Years Rs 25000 14 Lakh 36 Months Pension 84
Less Than 72 Years Rs 25000 14 Lakh 18 Months Pension 60
72 to 74 Years Rs 25000 12 Lakh 18 Months Pension 48
74 to 76 Years Rs 25000 7.5 Lakh 18 Months Pension 24

For Family Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Less Than 72 Years 25000 5 Lakh 18 Months Pension 60
72 to 74 Years 25000 4.5 Lakh 18 Months Pension 48
74 to 76 Years 25000 2.5 Lakh 18 Months Pension 24

About Oriental Bank of Commerce

Oriental Bank of Commerce Pension Loan

Oriental Bank of Commerce (OBC) is one among the foremost common public sector banks in India. It’s headquarters in Gurgaon, Haryana. As of March 2019, the bank has 2390 branches and quite 2600 ATMs across the country.

FAQs on Oriental Bank of Commerce Pension Loan

✅ Can you get a loan on a pension?

The Oriental Bank of Commerce Pension Loan is useful for the Central and State Govt beneficiaries. Defence retired people and family retired people as long as 76 years old.

✅ How much loan can a pensioner get?

The loan amount of personal credit for beneficiaries varies for the numerous benefits advance suppliers. Oriental Bank of Commerce Pension Loan can benefit for the sum Rs 25,000 to Rs 14 lakhs.

✅ What is the pension loan scheme?

Oriental Bank of Commerce Pension Loan scheme contains the funding requirements of Govt, Defense and family pensioners after the retirement.

✅ How can you get Oriental Bank of Commerce Pension Loan?

You can now apply online by Dialabank, or you can contact on this number 9878981166

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