Oriental Bank Of Commerce Car Loans

Find details of oriental bank of commerce car loan through Oriental Bank Of Commerce EMI calculator. Just enter the loan amount of car you want to get financed and rate of interest. Oriental Bank Of Commerce EMI calculator automatically calculates the installment on reducing balance and it does not have any other processing fee.

Also see : Car Loan Emi Calculator

Bank Name : Oriental Bank Of Commerce

New Car Loan Rates

Tenure	5 Years
Down Payment	0.15
Processing Fee	0.50% (min 500 - max 7000 plus ST)
Interest Rate	7.55%
Document Charges

Oriental Bank Of Commerce avails you with host of services and facilities online with which you can get car loan approval in an easier way. The customers who are dreamt of owning their desired car will turn their dream into reality via the golden opportunity provided by Oriental Bank Of Commerce. The eligibility criteria set by the bank that any individual having minimum gross income of Rs. 1.00 lakh per annum erases the hindrance that only silver-spooned can purchase the latest available cars. The bank even churns out the repaying capacity of an individual who had applied for loan by extending the tenure up to 8 years for new car while it is 5 years for used cars. Vicky. in proves to be the powerful tool through the provision of accurate information on processing fee, documentation charges, EMI amount of such banks

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Oriental Bank of Commerce Car Loan eligibility, Interest Rate, documents and process

Process fee	0.5% of Loan amount maximum Rs. 7000/-
Other Charges
Financing of Second Hand Cars
Amount	Rs.7.50 lacs
Margin	20% (Under TVS) & 30% (Non TVS) of market value assessed by valuer or purchase value of the second hand car. whichever is less

Age of vehicle	The age of the vehicle should not be older than 2 years at the time of sanction of loan subject to satisfactory valuation & roadworthy condition.
Repayment	Repayment in 36 EMIs
Collateral security	One third party personal guarantee acceptable to the Bank
Process fee	0.5% of Loan amount
Check Points	Only for personal use, Invoice authenticity by dealers, Driving license, repaying capacity
Special concession to captive customers.
*100% process fee waived during festival Bonanza Period i.e upto 31.12.2013
Documents/Information to be provided by the applicant along with Loan Application Form. (These documents are indicative, relevant documents be obtained on case to case basis)
Proof of Identity & Address (PAN Card, Driving License/Voter ID Card/Passport/Ration Card etc. of applicant and guarantor(s), if any/ /Salary Slip/proof of permanent and regular employment/proof of age/proof of length of service (confirmed permanent employees of Govt.) /Proof of confirmed service/proof of length of service and of income (IT/Professionals)/Proof of income (Balance Sheet and P&L A/C for last 3 years)/proof of date of establishment of business(Businessmen)/Proof of land holding (Agriculturists)/Copy of ITR/Form-16 for last two/three years in all cases/Bank statement of Account for the last six months in all cases/Passport size photographs of applicant (s) and Guarantors/Proof of Income of spouse, if he/she stands as guarantor/Proforma Invoice/ Quotation of the Vehicles to be purchased (New Vehicles) Certificate as to the Age of the Vehicle, Residual Life, Valuation of Vehicle etc. from the approved surveyors of General Insurance Companies or authorized dealer under True Value Scheme along with RC and Insurance (Second hand cars)/Information sheet for guarantors along with their PAN Card, proof of their identity, residence, age, income.