Oriental Bank of Commerce Loan Against property

Oriental Bank of Commerce

Features of OBC Loan against property


To offer term loan/ overdraft facility for specified purpose against the security of immovable property (i.e. for investment in business, personal expenses etc.).

The loan can be used to meet any legitimate need based Investments / expenses except speculative & prohibited purposes as restricted by Law.


1.   All Individuals & Joint borrowers (including Doctors / Professionals & Self Employed) who are income tax assesse for at least two consecutive years.

2.   Individual engaged in agriculture & allied activities.

3.  Company / firms jointly with their Directors/ Partners are eligible, where security is either owned by the Director / Partner or the company/ firms itself and the income generated by the Company/ Firm is considered.

4.  NRIs are also eligible to avail credit facility under OMLS subject to compliance of RBI norms. However, a resident Indian shall be co-borrower in such cases 

Loan Limit

The Limit shall be as per MPBF Calculations subject to maximum upto Rs. 10.00 Crore.

Minimum loan to be considered under the scheme is of Rs. 5.00 lacs


Mortgage (Registered or Equitable) of self-occupied Residential / Commercial / Industrial Land & Building standing in the name of individual / joint owners / close relatives who will also stand as Guarantors (viz. spouse, parent, brother, sister, son, daughter) /  company / firm.

 (The Loan/Overdraft limit will be repayable upto maximum age of 75 years of Guarantor.)

Assessment of Loan Limit

·         60% of the realizable value of the property (overall maximum limit).

·         36 months of gross income in case of salaried persons.

·         4 times of avg. net annual income of last 2-3 years in case of persons other than salaried ones.


1.       The above eligibility shall be subject to maximum to repaying capacity of respective borrower.

2.      The Net take home income criteria shall be as under in case of Individuals/Proprietor after all deductions including income tax and the EMI or monthly servicing of interest and principal of the proposed Term loan/Overdraft under the scheme.

Monthly Income

Net Take Home

Upto  Rs. 50000/-


More than Rs. 50000/-


Type of facility & Period of Loan

A)   For Business Entities

a)       Term Loan: Maximum upto 120 months repayable on EMI basis

b)       Overdraft limit: 120 months subject to annual review with progressively reducing limit at 15% p.a. of the original sanctioned limit, so as to liquidate the facility within the maximum period of 10 years.

c)       Term Loan + Overdraft Limit (COMBO OFFER): 60% of loan amount will be in the shape of Term Loan repayable in 84 months & 40% in the shape of Overdraft limit (Non-reducing) to be renewed annually.

 B)   For Salaried

a)       Term Loan: Maximum upto 120 months repayable on EMI basis.

b)       Overdraft limit:  120 months subject to annual review with progressively reducing limit on monthly/quarterly instalment basis so as to liquidate the facility within the maximum period of 10 years.

Other Conditions

a.  The applicants need to submit Form 16 / Income Tax returns for the past 2 years for accessing repaying capacity.

b.  The KYC norms shall be complied as per norms.

c.  The loan under the scheme shall be granted against self occupied property by its owner (let out property shall not be accepted as security).


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