Oriental Bank of Commerce Pension Loan Features
| OBC Pension Loan Interest Rate | 3.40% |
| OBC Pension Loan Processing Fee | 1% |
| OBC Pension Loan Tenure | 36 months |
| OBC Pension Loan Amount Minimum | Rs. 25000 |
| OBC Pension Loan Amount Max | 14 lacs |
| OBC Family Pension Loan Amount Minimum | 2.5 lacs |
| OBC Family Pension Loan Amount Max. | 5 lacs |
| OBC prepayment | 3% |
| OBC foreclosure | 3% |
Oriental Bank of Commerce Pension Loan Eligibility
For Oriental Bank of Commerce to be eligible for credit, it’s one in all the mandatory stipulations that one in all the ex-staff constituents encompasses a declaration of the rent. It would facilitate if you were conjointly a beneficiary of the government, the PSU, or the central government. You will be able to conjointly carry home 60% of a month’s rent when you pay your bank instalments.
Oriental Bank of Commerce Pension Loan Eligibility for Central and State Government Pensioners
| Eligibility Criteria | Key Features |
| Employer Type | Central and State Government |
| Applicant’s Age | Below 76 years of age |
| Account Type | Pension payment order maintained by Bank |
| Treasury Terms | Written consent from the treasurer not to accept any pension transfer requests |
| Guarantee Terms | By the spouse (eligible for a family pension) or any other third party |
Oriental Bank of Commerce Pension Loan Eligibility For Defence Pensioners
| Eligibility Criteria | Key Features |
| Employer Type | Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles |
| Applicant’s Age | Below 76 years of age |
| Account Type | Pension payment order maintained by Bank |
| Treasury Terms | Not applicable |
| Guarantee Terms | Not applicable |
Oriental Bank of Commerce Pension Loan Eligibility For Family Pensioners
| Eligibility Criteria | Key Features |
| Employer Type | Central and State Governments including all Armed Forces |
| Applicant’s Age | Below 76 years of age |
| Account Type | Pension payment order maintained by Bank |
| Treasury Terms | Not applicable |
| Guarantee Terms | Authorized members of the family under the family pension scheme |
Maximum Eligible Loan Amount and repayments
For Central and State Government Pensioners:
| Age | Max Loan Amount (18 months Pension or Less) | Repayment Period | Age at the time of full Repayment |
| Below 72 years | ₹ 14.00 Lakh | 60 months | Up to 77 years |
| 72 – 74 years | ₹ 12.00 Lakh | 48 months | Up to 78 years |
| 74 – 76 years | ₹ 7.50 Lakh | 24 months | Up to 78 years |
For Defense Pensioners:
| Age | Max Loan Amount (18 months Pension or Less) | Repayment Period | Age at the time of full Repayment |
| Below 56 years | ₹ 14.00 Lakh | 84 months | Up to 63 years |
| 56 – 72 years | ₹ 14.00 Lakh | 60 months | Up to 77 years |
| 72 – 74 years | ₹ 12.00 Lakh | 48 months | Up to 78 years |
| 74 – 76 years | ₹ 7.50 Lakh | 24 months | Up to 78 years |
For Family Pensioners (including Defense Pensioners):
| Age | Max Loan Amount (18 months Pension or Less) | Repayment Period | Age at the time of full Repayment |
| Below 72 years | ₹ 5.00 Lakh | 60 months | Up to 77 years |
| 72 – 74 years | ₹ 4.50 Lakh | 48 months | Up to 78 years |
| 74 – 76 years | ₹ 2.50 Lakh | 24 months | Up to 78 years |
Interest Rate On Oriental Bank of Commerce Personal Loan For Pensioners
The borrowing prices for Oriental Bank of Commerce Pension Loan is lower, for instance, by 3.40% p.a. completion of the conditions of old pensioners in their days of completion.
Document Required For Oriental Bank of Commerce Pension Loan
Income proof:- Bank Account Statement and Income Records
Identity proof:- Passport, Voter ID card, Pan Card, Driving License, Aadhaar Card. (you can give any of these)
Address proof: Ration Card, Bank Account Statement, Passport, Driving License, Light bills, Property purchase contract, Aadhaar Card. (you can give any of these)
Loan Amount On Oriental Bank of Commerce Personal Loan For Pensioners
The minimum amount of the loan is Rs 25000. the maximum amount of loan is 14 lacs, and since, the amount of the loan depends on the life of the pensioner and therefore, the sort of pension that he/she prefers.
For State and Central Government Pensioners:
| Age | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure |
| Less Than 72 Years | 25000 | 14 Lakh | 18 Months Pension | 60 |
| 72 to 74 Years | 25000 | 12 Lakh | 18 Months Pension | 48 |
| 74 to 76 Years | 25000 | 7.5 Lakh | 18 Months Pension | 24 |
For Defence Pensioners:
| Age | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure |
| Up to 56 Years | Rs 25000 | 14 Lakh | 36 Months Pension | 84 |
| Less Than 72 Years | Rs 25000 | 14 Lakh | 18 Months Pension | 60 |
| 72 to 74 Years | Rs 25000 | 12 Lakh | 18 Months Pension | 48 |
| 74 to 76 Years | Rs 25000 | 7.5 Lakh | 18 Months Pension | 24 |
For Family Pensioners:
| Age | Minimum Loan Amount | Maximum Loan Amount | Additional Ceiling Amount | Loan Tenure |
| Less Than 72 Years | 25000 | 5 Lakh | 18 Months Pension | 60 |
| 72 to 74 Years | 25000 | 4.5 Lakh | 18 Months Pension | 48 |
| 74 to 76 Years | 25000 | 2.5 Lakh | 18 Months Pension | 24 |
About Oriental Bank of Commerce
Oriental Bank of Commerce (OBC) is one among the foremost common public sector banks in India. It’s headquarters in Gurgaon, Haryana. As of March 2019, the bank has 2390 branches and quite 2600 ATMs across the country.
FAQs on Oriental Bank of Commerce Pension Loan
✅ Can you get a loan on a pension?
The Oriental Bank of Commerce Pension Loan is useful for the Central and State Govt beneficiaries. Defence retired people and family retired people as long as 76 years old.
✅ How much loan can a pensioner get?
The loan amount of personal credit for beneficiaries varies for the numerous benefits advance suppliers. Oriental Bank of Commerce Pension Loan can benefit for the sum Rs 25,000 to Rs 14 lakhs.
✅ What is the pension loan scheme?
Oriental Bank of Commerce Pension Loan scheme contains the funding requirements of Govt, Defense and family pensioners after the retirement.
✅ How can you get Oriental Bank of Commerce Pension Loan?
You can now apply online by Dialabank, or you can contact on this number 9878981166.
