Oriental Bank Car loan – Interest Rates Dec 2018, EMI Eligibility Calculator

Oriental bank of commerce Car Loans available at lowest interest rates. Get instant quotes on eligibility, Documents list, charges & EMI for car loan online through OBC Bank.

Oriental Bank Of Commerce Car Loan Interest Rates 2018

Interest Rates 8.50% – 9.00%
Income Per Month Rs.30000
Max. Loan Amount 1 Crore
Margin 15% on Road cost
Repayment 84 Months / 7 Year
Lowest EMI per Lakh Rs. 1,584
Document Charges Nil
Prepayment charges Nil
Processing Fee 0.50% of loan amount
Interest Rates for Used Cars 11.60%

Compare, Calculate & Save more on Interest Rates & EMIs

Professional Details
Loan Amount

Occupation

Annual Income

City

Oriental bank of commerce offers car loans fr all variants of four wheelers, Two wheelers and purchase of second hand bikes.

Minimum Income required for the purchase of two wheeler loan is Rs.10000 per month, Rs.30000 for Four wheelers.

Eligibility

  1. Minimum 1 year service with current employer for salaried Individuals.
  2. Agriculturist based on their land holding and repayment capacity.
  3. Non-Resident Indians- jointly with Resident Indians (close relative)
  4. Professionals (including doctors)

Components of finance

Show room price + one time road tax + Registration Charges & First year’s insurance cost 

Oriental Bank of Commerce Car loan EMI Calculator

OBC car loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new car. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the car variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

For an example, You can take a loan amount of Rs.4 lakh for Maruti Celerio or TATA Tigao XT car for 5 years repayment period at 8.60% rate of interest than you emi calculations are as follows:

  • Loan Amount = Rs. 4,00,000
  • Monthly Installment (EMI) = Rs. 8,226
  • Total Interest Amount = Rs. 93,554
  • Total Amount (Principal + Interest) = Rs. 4,93,554
Year Principal Interest Balance Amount
1 Rs. 66,907 Rs. 31,805 Rs. 333,093
2 Rs. 72,894 Rs. 25,818 Rs. 260,199
3 Rs. 79,417 Rs. 19,295 Rs. 180,782
4 Rs. 86,521 Rs. 12,191 Rs. 94,261
5 Rs. 94,320 Rs. 4,450 Rs. 0

Documents Check List for Car Loans

New Vehicle

2nd Hand Car

  • Loan application Form
  • Passport size photograph of applicant, co-applicant & guarantor
  • Identity proof
  • Residence Proof
  • Age proof
  • Income Proof
  • For Salaried: Salary certificate issued by the employer / Income Tax return
  • For Agriculturist: Record of land holding & cropping pattern or any other proof of income.
  • For all other individuals: Last 3 yrs. Income Tax Return & computation sheet / Bank A/C statement.
  • Quotation from authorized dealer for vehicle to be purchased.
  • Proof of income of spouse where the same is to be considered for determining loan amount.

Any other information which may be necessary as per requirement of the case.

  • Loan application Form
  • Passport size photograph of applicant, co-applicant & guarantor
  • Identity proof
  • Residence Proof
  • Age proof
  • Income Proof
  • Particulars of vehicle to be purchased and copy of Registration Certificate of vehicle (Original to be produced at the time of disbursement
  • Agreement to Sell between Seller and Purchaser
  • Prescribed Transfer Form duly executed by the Seller for onward submission to RTO
  • Copy of receipt of up-to-date deposit of Road tax/other taxes.
  • Latest quotation of the vehicle from authorized dealer

Any other information which may be necessary as per requirement of the case.