OBC Oriental Bank Of Commerce

I want to know the eligibility and the margin of home Loan in Oriental Bank Of Commerce OBC so can you tell me?

Oriental Bank Of Commerce OBC provides home Loan to Purchase of land and construction of a house

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.

Eligibility-

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

Minimum age-
18 years as on date of application

Maximum age-
For salaried(with pension) & other Individuals upto 70 years
For Salaried ( Non Pensionable) upto 60 years or superannuation, which is earlier

Margin-

Upto Rs. 30.00 Lacs 10%
Above Rs. 30.00 Lacs & Upto Rs. 75.00 Lacs 20%
Above Rs. 75.00 Lacs 25%
For Home furnishing 25% of total cost of renovation/furnishing

Net Take Home Income

Fross Annual income minus all existing deductions including IT deduction & Proposed loan installment) with details as under:

Gross Annual Income Net Take Home
Upto Rs. 5 lacs 50%
Above Rs. 5 Lacs to Rs. 10 Lacs 40%
Above Rs. 10 Lacs 30%

Contact-

Corporate Office

OBC
Plot No. 5, Institutional Area
Sector-32
Gurgaon – 122001

Telephone Nos.:

PBX board/ receiption numbers : 0124-4126200 and 0124-4126300

Toll Free Customer Care No. : 1800-180-1235

Toll Customer Care No. : 0120-2580001

91-124-4126113 insp@obc.co.in (Inspection & Control Department)
91-124-4126376 pnd@obc.co.in (Corporate Strategy & Planning Dept)
91-124-4126213,4126227,4126229 dit@obc.co.in (Department of IT)
91-124-4126341,4126328 gad@obc.co.in (Services Department)
91-124-4126231,publicity@obc.co.in (PR & Publicity Department)

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Answered By StudyChaCha Member