Oriental Bank of Commerce Home Loan Eligibility Calculator - 2017-2018 StudyChaCha

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Old November 13th, 2017, 05:09 PM
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Default Oriental Bank of Commerce Home Loan Eligibility Calculator

What is eligibility to apply for Home Loan at Oriental Bank of Commerce? Can anybody tell me about eligibility criteria to apply for Home Loan atOriental Bank of Commerce?
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Old November 14th, 2017, 09:46 AM
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Default Re: Oriental Bank of Commerce Home Loan Eligibility Calculator

Here I am telling you about Home Loan offering by Oriental Bank of Commerce for your reference:

ORIENTAL BANK OF COMMERCE : HOME LOAN

Purpose:

Purchase of land and construction of a house thereon.
Construction of house, where in the plot/land already owned by the applicant.
To buy built up (new or second hand) / semi built up house or flat.
To Extend/improve/repair, the existing house or flat.
To buy a flat under construction or proposed to be constructed
For Home furnishing, furniture / fixtures embedded to structure or otherwise..

Minimum Eligibility Criteria:
Individuals or group of specified individuals (co-borrowers) including HUF having an assured source of regular income viz. salaried / self-employed persons, professionals, businessmen, farmers etc.(including Staff & NRIs )

Maximum Limit:
For Business man-40 times Gross monthly Income and for salaried person -60 times Gross monthly Income with a condition that the net take income(gross Annual income minus all existing deductions, IT deduction & Proposed loan instalment)is in 20-40% slab as per Gross Annual income with details as under:

Upto Rs. 10 Lacs
40%

Above Rs.15 Lacs to Rs. 25 Lacs
25%

Above Rs. 10 Lacs to Rs. 15 Lacs
30%

Above Rs. 25 Lacs
20%

Housing Loan ---No upper ceiling (*conditions apply).
Home furnishing Loan --Maximum Rs. 10.00 Lacs(restricted to 30% value of existing house),

Age Limit:
Minimum age 18 years as on date of application
Maximum age Upto 60 years of age or age of superannuation, whichever is earlier,

Margin:
Upto Loan Rs. 20.00 Lacs
15%

Above Rs. 20.00 Lacs
20%

For Home furnishing
25% of total cost of renovation/furnishing

Process Fee:
0.50% of the loan amount, subject to maximum of Rs. 20000/- plus service tax, if any

As you want EMI Calculator of Oriental Bank of Commerce, so follow these instructions:

Go on website of Oriental Bank of Commerce.

There is a link for EMI Calculator in right bottom side on Homepage.

Click on it and reach on this new webpage:



Enter Principle Amount, Interest Rate and Time Period and calculate EMI.
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