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January 23rd, 2017, 05:44 PM
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Join Date: Mar 2012
Re: Oriental Bank Of Commerce Business Loan

As you Asking for the Information About the Business Loan of the Oriental Bank Of Commerce the details of the Business loan is given below

Purpose :
To provide hassle free credit to meet working capital requirements / augment long-term margin /financing of fixed assets related to business activity or for expansion of business to Traders, Micro, Small and Medium

Enterprises (Manufacturing and Service),Contractors /Commission agents, and Authorized service centre /Service Sector viz. hotels, guest houses etc.

Eligibility Criteria

Proprietorship, Partnership firms, Private / Public Ltd. Cos., engaged in business activity Business in their line of business minimum for 1 year and having satisfactory dealings.

Business units established by close relatives (viz. spouse, parent, brother, sister, son, daughter) of existing customers with satisfactory dealings, even if these are established for less than 1 year.


Loan Limit
Maximum loan upto Rs. 200 Lacs (including fund and non fund based limits)

Rate of Interest
Penal interest - 2% over and above normal rate of interest will be charged on irregular portion / amount and for the period of irregularity due to any reason.

Period of Loan
a) Overdraft: 12 months subject to annual review.
b) Term Loan/Demand Loan:
Maximum upto 84 months including moratorium period of maximum 3 months (depending on repayment capacity - Repayable on EMI basis).


Processing Charges
1. Working capital- Rs. 100.00 per lac plus service tax.
2. Term / Demand loan - Upfront fee of 0.50% of the loan amount + service tax, if any.


For more details you may Visit the Nearest branch of the Oriental Bank Of Commerce


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