Oriental Bank of Commerce Mumbai
Last Updated : Sept. 5, 2018, 5:15 p.m.
About Oriental Bank of Commerce
Oriental Bank of Commerce (OBC), founded in 1943, is a state-owned banking entity with more than 1,000 branches across India. But the bank has gone through a series of struggles to reach to its existing position. It was set up by Raja Bahadur Lala Sohan Lal in Lahore. Within few years, the bank faced the problem which many of our ancestors encountered after the independence, the partition. This forced the closure of its registered office in Lahore. The bank had to return the money to the Pakistani depositors. Consequently, the office was shifted to Amritsar. The bank got through the situation and started doing normal business. But another struggle and perhaps the biggest of all was yet to come. The lull phase of 1970-76 simply drowned the bank as it was struggling to stay afloat amid sharply declining profits. The adversity went to such an extent that the bank was almost shut. But due to the cooperation from the employees, the bank recovered smoothly. The bank was also nationalized in 1980. As soon as the bank comes under the government reign, it started making a name in the field of corporate banking, retail banking, NRI banking, rural banking, MSME banking.
The bank also has a significant presence in the dream city of Mumbai. Over 100 OBC branches are located in the city. The branches have officials who can solve your queries and offer you the right product for your needs. You can screen through the offers of deposits and loans to find which one suits you best. Before heading to the branches, it is imperative to know their whereabouts, right! You can help yourself looking at the table below.
Oriental Bank of Commerce Mumbai Branches
| Branch Name | Complete Address | IFSC | MICR |
|---|---|---|---|
| Fort | Jash Chambers, Sir P M Road, Fort, Mumbai, Maharashtra-400001 | ORBC0100023 | 400022005 |
| Kalbadevi | 17/19, Bomanji Masterrd, New Silk Bazar Kalbadevi, Mumbai, Maharashtra-400002 | ORBC0100055 | 400022006 |
| Lamington Road | 393, Sir Mangaldas House, Lamington Road, Mumbai, Maharashtra-400004 | ORBC0100105 | 400022007 |
| Andheri (West) | Manubharti, 212, SV Road, Andheri (West), Mumbai, Maharashtra-400058 | ORBC0100142 | 400022002 |
| Mandvi | 379/382 Narshi Natha, Street, Mandvi, Mumbai, Maharashtra-400009 | ORBC0100187 | 400022009 |
| Neapean Sea Road | 39, B/1, Matru Ashish, Neapean Sea Road, Mumbai, Maharashtra-400036 | ORBC0100201 | 400022010 |
| Santacruz(West) | Ground Floor, Ajay Apartments, S.V. Road, Santacruz(West), Mumbai, Maharashtra-400054 | ORBC0100232 | 400022011 |
| Dadar | ALF Gokhale Road (South), Dadar (West), Mumbai, Maharashtra-400028 | ORBC0100235 | 400022004 |
| Kalyan | Onkar Apartments, New Station Road, Kalyan, Mumbai, Maharashtra-421301 | ORBC0100295 | 400022015 |
| Malad(West) | Vikas Chambers, Marve, Link Road, Malad(West), Mumbai, Maharashtra-400069 | ORBC0100405 | 400022008 |
| Ghatkopar | Narsingh Mehta Marg, Ghatkopar, Mumbai, Maharashtra-40086 | ORBC0100456 | 400022014 |
| Kandivali (East) | Gokul Monarch Cooperative Housing Society, Kandivali (East), Mumbai, Maharashtra-400101 | ORBC0100560 | 400022021 |
| Powai | B1, LGL-34 Galleria, Hiranandani Grd Powai, Mumbai, Maharashtra-400076 | ORBC0100632 | 400022025 |
| Dombivli (East) | 48, Shivleela, Tilak Road, Dombivli (East), Mumbai, Maharashtra-421201 | ORBC0100745 | 400022027 |
Products Offered by Oriental Bank of Commerce in Mumbai
You can choose from a growing list of products that include a personal loan, car loan, home loan , mortgage loan, and much more. These products are attuned to serve all your financial needs in Mumbai. The choosing a product would be easy if you read out the fine details of various loans offered by the bank. The details can be easily read in the table below.
Basic Loan Details of Oriental Bank of Commerce in Mumbai
| Product | Eligibility | Loan Amount | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|---|---|
| Home Loan | Individuals or co-borrowers having an assured and regular source of earning. Minimum age at the time of application-18 Years Maximum age at loan maturity-60-70 years | No maximum limit. It purely depends on your income and repayment capacity | 8.60%-9.10% p.a. | 0.50% of the loan amount plus service tax as applicable. Maximum-₹ 20,000 plus applicable service tax | Upto 30 years, including the 18-month moratorium period subject to the dwelling unit’s age |
| Personal Loan | Available to public and private sector employees, along with the pensioners. Both public and private sector employees must be confirmed with a minimum net monthly income of 10,000. Also, the net income must not be lower than 30% of the gross income after the deduction of the proposed EMI. Pensioners must not be over 75 years at the time of loan maturity. Also the net amount of pension must not be 50% of the gross pension (Including the proposed loan EMI) | ₹ 5-10 lakh | 10.85%-11.85% p.a. | 0.5% of the loan amount Minimum-₹ 500 | Upto 5 years |
| Vehicle Loan | Salaried individuals either confirmed or a 1 year of service, professionals, businessmen running their entities for atleast 2 years, agriculturist and few others are eligible. | 4-Wheeler- ₹ 1 Cr 2-Wheeler-₹ 10 Lakh | 8.60%-9.10% per annum for new vehicles 10.85%-11.60% per annum for second hand vehicles | 0.50% of the loan amount, subject to a minimum of ₹ 500 | Upto 7 years for new vehicles Upto 3-5 years for old vehicles |
| Business Loan | Proprietorship, partnership or companies involved in business activity for a minimum period of 1 year. Business should conform to the statutory requirements such as License Under Shops & Commercial Establishment Act, Registration Certificate of Sales Tax/Central Sales Tax | Upto ₹ 5 crores | 11.95% p.a. | 0.50% of the loan amount plus applicable service tax | Upto 7 years |
| Mortgage Loan Scheme | All individuals and joint borrowers who are income tax assessee for atleast 2 years in a row. Agriculturists Company/Proprietorship/Partnership firms are also eligible. Net income should not be lower than 30% of the gross income after the deduction of the EMIs | Upto ₹ 10 crores, with a minimum of ₹ 5 lakhs | 10.85% p.a. | As applicable | Upto 10 Years |
| Loan Against Gold Ornaments | Individuals and proprietors | Upto ₹ 10 lakh-50 lakh | 9.60%-10.60% p.a. | As applicable | The demand loan would be liquidated within a maximum 1-year period. Renewal and review of overdraft facility after every year. |
Documents Needed to Avail Loans from Oriental Bank of Commerce in Mumbai
| Product | Salaried | Self-employed |
|---|---|---|
| Home Loan | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR Passport Size Photographs of applicants and co-applicants Property Documents-Buyer Agreement Copy/Allotment Letter, Receipt of Payment made to Property Developers | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 2-3 years Profit & Loss Account Statement and Audited Balance Sheet Passport Size Photographs of applicants and co-applicants Property Documents-Buyer Agreement Copy/Allotment Letter, Receipt of Payment made to Property Developer |
| Personal Loan | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR Passport Size Photographs of applicants and co-applicants | |
| Vehicle Loan | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR Passport Size Photographs of applicants and co-applicants | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 2-3 years Profit & Loss Account Statement and Audited Balance Sheet Passport Size Photographs of applicants and co-applicants |
| Business Loan | Proprietors- Shop and establishment certificate/ VAT/ Sales Tax Registration Certificate PAN Card Last 2 years financials with audit report Last 6 months Bank statement of all bank accounts Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any Proforma invoice of machinery, in case of Plant & Machinery Loans Partnership Firms- Registered partnership deed KYC of Partners PAN Card of Firm and Partners Shop and establishment / VAT/ Sales Tax Registration Certificate Last 2 year financials with audit report Last 6 months Bank statement Existing facility sanction letter/ Repayment Track Record of existing loans, if any Proforma invoice of machinery, in case of Plant & Machinery Loans Private & Public Sector Companies- Memorandum of Association(MOA) / Articles of Association(AOA) Latest shareholding pattern KYC of Directors PAN Card of the Company and Directors Last 2 years financials with audit report Last 6 months Bank statement of all bank accounts Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any Proforma invoice of machinery, in case of Plant & Machinery Loans Declaration that borrower, Company or any of its Directors are not debarred / black listed / penalized by any Stock Exchanges / SEBI/ RBI. A Declaration that the proposed borrowing is within the limits prescribed u/s 293(1)(d) of the Companies Act, 1956 | |
| Mortgage Loan Scheme | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR Passport Size Photographs of applicants and co-applicants Equitable Mortgage of the Property Financed | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 2-3 years Profit & Loss Account Statement and Audited Balance Sheet Passport Size Photographs of applicants and co-applicants Equitable Mortgage of the Property Financed |
| Loan Against Gold Ornaments | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR Passport Size Photographs of applicants and co-applicants | Loan Application Form Identity Proof-PAN Card/Aadhaar Card/Driving License/Voter ID/Passport Residence Proof-Passport/Aadhaar Card/Utility Bill/Voter ID Income Proof-Last 3-6 Month Salary Slip, Last 6-month bank statement, Latest Form 16 & ITR Passport Size Photographs of applicants and co-applicants |
