Oriental Bank of Commerce Two Wheeler Loan

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Oriental Bank of Commerce Two Wheeler Loan

Oriental Bank of Commerce Two Wheeler Loan Key Features

Oriental Bank of Commerce Two Wheeler Loan Interest Rate 11.83%* per annum
Min Loan Amount ₹ 10,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 4 years
Lowest EMI / Lac ₹ 2,625
Minimum Net Monthly Income Salaried – ₹ 7,000, Self Employed – ₹ 6,000
Age Criteria 21 years(At Application) to 65 years(At Loan Maturity)
Types of Vehicle For All New Two-Wheelers (Bikes, Superbikes, etc.)
Processing Fee Up to 3% of the Loan Amount.
Foreclosure Charges 3% – 10% Based on the time of foreclosure ( Foreclosure not allowed during the first 3 months)
Basic Documentation ID Proof, Address Proof, Bank Statement

About Oriental Bank of Commerce Two Wheeler Loan

The bike and two-wheeler creating industry in the country has seen radical improvement over the latest ten years, and it continues rising. Bicycles in India comprehend a ruling bit of the country. In spite of the way that it is a useful and supported technique for transport, it is so far not reachable for the vast majority of the cubicle class families to get one by finishing at its whole expense at one time.

In this manner, bicycle progresses give help here. Be that as it may, even the people who can shoulder the expense of more than one vehicle settle on bicycles to investigate all through significant city traffic.

Apply For Two Wheeler Loan

Advantages of Oriental Bank of Commerce Two Wheeler LoanOriental Bank of Commerce Two Wheeler Loan

Oriental Bank of Commerce Two Wheeler Loan is allowed unmistakably for bicycles and not for reused vehicles.

  1. Discover the compensation of 10 months or INR 35,000/- is the most outrageous bicycle advance entire offered by City Union Bank.
  2. The customer can incorporate their life accomplice’s compensation and make him/her a co-up-and-comer to fulfil the capability guidelines as referenced already.
  3. The advance expense is 11.83 per cent.
  4. The hypothecation of the bicycle to be bought is kept as security/protection.
  5. Alongside the development competitor, the associate or maybe someone else who fulfils the capability models as per the Scheme to stay as co-up-and-comer
  6. You are required to settle the credit in a most outrageous time period of three years as EMIs.
  7. Far-reaching insurance spread is to be acquired at the expense of the up-and-comer as per the development condition.
  8. The bank will charge planning costs at one per cent of the entire development absolute in City Union Bank Two Wheeler Loan.
  9. The embraced credit absolute will be doled out to the seller/provider genuinely.

Oriental Bank of Commerce Two Wheeler Loan Eligibility

Bank offers resources for purchasing bicycles, for instance, Bikes, Motor Cycles, Mopeds, and Battery-Operated Scooters, etc., of any model.

  1. The up-and-comer should be on any occasion 21 years old or above.
  2. The most extraordinary age limit is 65 years for bicycle advance from City Union Bank.
  3. The applicant must be salaried or can be an autonomously utilized individual and should be working on any occasion for two years (three years).
  4. The customer can get up to INR 350000 of financing on-road cost of the vehicle or on different occasions of their month to month pay.
  5. The credit can be repaid inside a most outrageous season of three years
  6. 10% of the unimportant cost of the vehicle
  7. Hypothecation of Two-Wheeler to be purchased.
  8. 1.25% of the credit entirety dealing with the cost is charged or possibly INR 750.

Click here to know more about Two Wheeler Loan Eligibility 

Oriental Bank of Commerce Two Wheeler Loan Interest Rate, Fees and Charges

Interest Rate Starts at 11.83% p.a.
Processing Fee Up to 3% of the loan amount (maximum)
Prepayment Charges From 3% to 10% of the outstanding principal
Pre-payment charges Within 4 to 6 months – 10% of principal outstanding
Within 7 to 12 months – 6% of principal outstanding
13-24 months – 5% of principal outstanding
Post 24 months – 3% of principal outstanding
Prepayment is not allowed within three months of EMI repayment

To check Two Wheeler Loan Interest Rate for all major banks, you can visit: Two Wheeler Loan Interest Rate

Oriental Bank of Commerce Two Wheeler Loan Documents Required

Salaried Candidate

Category Documents Required
Identity Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Compulsory Documents PAN Card
Bank Statement Bank statement of last 3 months

Self-Employed Customers

Category Documents Required
Identity Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Required Documents PAN Card
Bank Statement Bank statement of last 3 months

Click here to know more about Two Wheeler Loan Documents Required

Compare Bike Loan Interest Rates of Oriental Bank of Commerce with other banks

Bank Two Wheeler Loan Interest Rates* Lowest EMI Per ₹ 10 Thousand For Max Tenure
Oriental Bank of Commerce 9.55% 210 for 5 years
SBI 16.05% ₹ 352 for 3 years
HDFC Bank 9.10% ₹ 249 for 4 years
Axis Bank 10.85% ₹ 217 for 5 years
Bajaj Auto Finance 13.26% ₹ 338 for 3 years
IndusInd Bank 21.00% ₹ 377 for 3 years

Oriental Bank of Commerce Two Wheeler Loan EMI Calculator

The borrower has the ability to learn the EMI’s prior to the use of the Oriental Bank of Commerce Two Wheeler Loan. 
You can, therefore, quickly confirm through the link below:

Oriental Bank of Commerce Two Wheeler Loan Types

Oriental Bank of Commerce offers different sorts of credits to its customers, and you’ll have the choice of choosing one of them as indicated by your requirements.

There are two choices –

  • Two Wheeler mortgage –

If in case you need to buy a bike and need to back it, at that point, Oriental Bank of Commerce has the most noteworthy proposal for you.

You will utilize this advance at a moderate interest cost of 11.83%

  • Super Bike Two Wheeler Loan –

In the event that you’re thinking about purchasing a Superbike and are looking for a financial backup, at that point, this is the best offer accessible to you at a luring financing cost of 11.83 per cent.

Oriental Bank of Commerce Two Wheeler Loan Pre Calculated EMI

Rate 4 yrs 3 yrs 2 yrs 1 yr
11.83% 2625 3313 4699 8876
12.00% 2633 3321 4707 8884
12.50% 2658 3345 4730 8908
13.00% 2682 3369 4754 8931
13.50% 2707 3393 4777 8955
14.00% 2732 3417 4801 8978
14.50% 2757 3442 4824 9002
15.00% 2783 3466 4848 9025
15.50% 2808 3491 4872 9049
16.00% 2834 3515 4896 9073
16.50% 2859 3540 4920 9096
17.00% 2885 3565 4944 9120

How to Apply for Oriental Bank of Commerce Two Wheeler Loan

Clients can enlist for Oriental Bank of Commerce Two Wheeler Loan on the web or visit the Dialabank Digital Platform and afterwards do the following:

  1. Fill out the standard application form for two-wheeler loans
  2. Persistently hold for our Partnership Manager to call. Or then again you can get in touch with us at 9878981166
  3. Get customized assistance and select the most appropriate deal depending on your needs.

Factors Affecting Two-wheeler Loan Application

The Oriental Bank of Commerce is an Indian bank. Despite the fact that two-wheeler loans are generally avoided, the deal that applicants are offered is governed by a number of factors:

  • Credit score: Your credit score is one of the most important criteria in determining your interest rate. Most creditors have a set interest rate for these loans. If you have good credit, you might be able to acquire a reduced interest rate. However, if your credit score is low, you will almost surely be charged a higher interest rate.
  • Today’s financial situation: You must meet a one-month income threshold set by each lender. If you earn more money, your loan will be less expensive. This usually means you’ll receive a big percentage of your debt forgiven. You may be charged a higher interest rate if you have a lower income.
  • Your workplace address: Your work and the company you work for may have an impact on the interest rate you’re offered. A reputed company might indicate that you have a steady job and a steady income. Lower interest rates may arise as a result.
  • Employed vs. self-employed: Lenders may charge you a varying interest rate depending on your employment status.
  • Your age: This has a considerable influence on the interest rate you pay. Your loan may cost you more if you’re nearing retirement, for example. This is due to the fact that nearing retirement age usually entails a decreased ability to repay a loan.
  • Client-lender relationship: If you already have a connection with a lender, you may be able to get a better interest rate. If you have a good connection with a bank, you can get better loan terms.

Oriental Bank of Commerce Two Wheeler Loan for Top Selling Bikes

Other Available Products from Oriental Bank of Commerce

Oriental Bank of Commerce Personal Loan Oriental Bank of Commerce Gold Loan Oriental Bank of Commerce Home Loan
Oriental Bank of Commerce Credit Card Oriental Bank of Commerce Two Wheeler Loan Oriental Bank of Commerce Education Loan
Two Wheeler Loan
A Two-wheeler loan lets you borrow money from banks or other non-banking organizations. Banks are always preferred over non-banking financial companies. Oriental Bank of Commerce is well known for its services. The bank lends you money to buy a Two-wheeler specifically for this kind of loan. You have to return this loan within the tenure of the loan. This loan is a special-purpose loan. You can’t use this amount of loan for other purposes.
Secured or Unsecured
A Two-wheeler loan comes under the category of secured loan. In this loan, you pledge your vehicle that you are going to buy at the bank as security. If you don’t return Two wheeler loan, the bank will bound your vehicle.

Features of Oriental Bank of Commerce Two Wheeler Loan

  1. The Two-wheeler loan is available online.
  2. A person can easily apply for the Two-wheeler loan online on his/her mobile; there is no need to go to the branch.
  3. You can get a Two-wheeler loan from Oriental Bank of Commerce Two Wheeler Loan if you are 18 years.
  4. The minimum requirement of the salary for the Two-wheeler loan is Rs. 7000.
  5. The two-wheeler rates of interest are very reasonable and affordable in the Two-wheeler loan.
  6. Two-wheeler loans are available all over India.
  7. The tenure of the Oriental Bank of Commerce Two Wheeler Loan is from one to three years.

Eligibility for Oriental Bank of Commerce Two Wheeler Loan

  1. First of all, the applicant should be a citizen of India.
  2. After that, the age of the applicant should be 18 years at least.
  3. Only a person with a source of income can apply for a Two wheeler loan.

Documents for Oriental Bank of Commerce Two Wheeler Loan

  1. Applicant should have two passports sized coloured recent photographs. The applicant should not be wearing glasses.
  2. The applicant should have some identity proof. It can be a( voter ID card/PAN card/ Aadhar Card/passport/driving licence)
  3. Furthermore, residence proof is also needed. It can be a( voter ID card/PAN card/ Aadhar Card/passport/driving licence/ration card/utility bills/rental agreement)
Oriental Bank of Commerce Two Wheeler Loan: Amount of Loan
The bank provides Rs. 20000 and it can be up to Rs. 1.5 Lakhs, and can be Rs. 35 Lakhs for the super-premium bikes.
Rates of Interest
Rates of interest are 11.50% per annum, and onwards it depends on your income and the time period of the loan too.
How to Apply for Oriental Bank of Commerce Two Wheeler Loan?
  1. First of all, search for www. dialabank. Common google on your mobile.
  2. Then fill the online application form for the Two-wheeler loan.
  3. The form is very easy and understandable.
  4. The process of approving the loan is very quick and easy.
  5. Fill in your mobile number to get a call from our side for any type of guidance.
  6.  The guidance will be free of cost. Dialabank would not charge anything.
  7. Experts will provide you with guidance.
  8. For more information, you call on 60011600.
Does CIBIL score plays a role?
While getting a Two-wheeler loan, a CIBIL score doesn’t play any role. If your CIBIL score is not good, you can get a Two-wheeler loan. The bank would not check it at all.

FAQs for Oriental Bank of Commerce Two Wheeler Loan

✅ What is Oriental Bank Two Wheeler Loan?

Oriental Bank of Commerce gives bike credits to individuals at low preparing charges and great loan costs. These advances are anything but difficult to get and simple to pay off. Less desk work and residency times of as long as 60 months.

✅ How can I get Two Wheeler Loan from Oriental Bank?

You can either apply on the web or visit a close by Oriental Bank of Commerce branch for the application. You can likewise download the 2-wheeler credit application structure from the Oriental Bank of Commerce official site, total the frame, and submit it to the bank agent.

How does Oriental Bank Two Wheeler Loan work?

You can pick any new bike of your decision and utilize the Vehicle Loan from OBC to finance it.

What is the Two Wheeler Loan Interest Rate in Oriental Bank?

Interest Rate Starts at 11.83%

How to check Two Wheeler Loan status in Oriental Bank?

An individual can check the credit status by calling the numbers 1800-180-1235, 1800-102-1235 for any money-related questions, including Personal Loans.

How to calculate Two Wheeler Loan Interest in Oriental Bank?

Two Wheeler Loan EMI Calculator

What is the maximum loan amount I can avail myself of on Two Wheeler Loan from Oriental Bank?

Max Loan up to 90% of On Road Price or 100% of Ex-showroom Price

What is the loan tenure of Oriental Bank Two Wheeler Loan?

Loan tenure of Oriental Bank Two wheeler loan is up to 1-4 years.

How much Processing Fee is applicable on Oriental Bank Two Wheeler Loan?

The processing fee is Up to 3% of the loan amount (maximum).

What are the EMI options available on Oriental Bank Two Wheeler Loan?

Get month to month EMI as low as ₹ 1,611 for each lakh with OBC now offering vehicle credits with advance residency up to 7 years. The most minimal vehicle advance financing cost at present offered by OBC is 9.05%, for which the EMI per ₹ 1 Lakh credit sum comes to ₹ 4,571 for a long term advance and ₹ 2,078 for a long term advance.

What are the charges for Prepayment in Oriental Bank Two Wheeler Loan?

From 3% to 10% of the outstanding principal

Can I get a top-up loan on my existing Oriental Bank Two Wheeler Loan?

No, you cannot top-up loan on the existing two-wheeler loan.

Do I need to provide a guarantor to avail myself of a Two Wheeler Loan from Oriental Bank?

Yes, you have to provide a guarantor to avail of a two-wheeler loan.

How can I apply for EMI Moratorium on Oriental Bank Two Wheeler Loan?

Clients can demand a ban for their EMIs that are expected and unpaid in the month of June, July, and August 2020. When would I be able to put a solicitation for Moratorium? You have to put a solicitation before the 26th of the month, the preceding month in which EMI will get charged from your financial balance.

What is the number for Oriental Bank Two Wheeler Loan agent?

 1800 180 1235 / 1800 102 1235 

Can I close Oriental Bank Two Wheeler Loan online?

No, you cannot close Oriental Bank Two Wheeler Loan online.

What is Indian Overseas Bank Two Wheeler Loan Customer Care Number?

 Customer care number is 1800 180 1235 / 1800 102 1235 

News for Oriental Bank of Commerce Two Wheeler Loan

2020-02-10:

On February 10, 2020, OBC reduced its MCLR. The Oriental Bank of Commerce is a financial institution based in Hong Kong. Reduce the MCLR by 10 bps. The MCLR for one month and overnight is 7.50 per cent. The MCLR for three and six months is 7.80 per cent and 8%, respectively. Furthermore, the MCLR for a one-year tenor is 8.15 per cent. The new tariffs will take effect on February 10, 2020.

OBC lowers lending rates by 15 basis points on January 10, 2020.

2020-01-10:

Oriental Bank Of Commerce changed its MCLR with effect from January 10, 2020. The one-year MCLR rate is now at 8.15 per cent, down from 8.30 per cent last month. The MCLR is 7.55 per cent for the overnight period, 7.60 per cent for one month, and 7.80 per cent for three months. The six-month MCLR is now at 8%, up from 8.05 per cent previously. The new rates will have an impact on home equity loans and other types of secured loans.

2019-11-15:

OBC lowered MCLR rates on November 15th, 2019. For the month of November, Oriental Bank of Commerce has updated its Marginal Cost of Funds Based Lending Rate (MCLR). The MCLR is now at 8.15 per cent for six months, down from 8.20 per cent previously. The overnight rate was reduced to 7.80 per cent from 7.85 per cent previously. The tariff for a year, however, stays constant. The new tariffs went into effect on November 10, 2019.

2019-10-17:

Oriental Bank of Commerce lowers its MCLR by 5-10 basis points on October 17th. With effect from October 10, 2019, Oriental Bank of Commerce reduced its MCLR by 5-10 basis points. For an overnight period, the updated MCLR is 7.85 per cent, for one month, it is 7.95 per cent, and for three months, it is 8.10 per cent. The new MCLR for six-month and one-year tenures is 8.20 per cent and 8.35 per cent, respectively.

2019-09-12:

Oriental Bank of Commerce raises MCLR rates by 10 basis points on September 12th, 2019. The Oriental Bank of Commerce has decreased its MCLR rates by 10 basis points as of September 10, 2019. The overnight MCLR rate has been amended to 7.90 per cent; the rate for one month is 8%; the rate for three months is 8.15 per cent; and the rate for six months and one year is 8.30 per cent and 8.40 per cent, respectively.

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