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OBC Business Loan EMI Calculator India Jul 2020

Business Loan EMI Calculator OBC

Last Updated 01st Jul 2020

Get monthly EMI as low as Rs. 1,733 per lakh on OBC business loan. Business loan EMI in OBC depends upon loan annual turnover, gross receipts, number of years of ITR, loan amount, loan tenure and interest rate.

Loan Amount1 Year Loan2 year loan7 year loan
₹ 1 Lakh₹ 8,857₹ 4,679₹ 1,733
₹ 5 Lakh₹ 44,284₹ 23,397₹ 8,667
₹ 10 Lakh₹ 88,568₹ 46,794₹ 17,333

OBC has merged into Punjab National Bank on April 1, 2020. The interest rates of Punjab National Bank will now be applicable on OBC Business Loan.

Business Loan EMI Calculator
Lowest Interest Rate

Business Loan Calculator OBC

  • Business loan EMI (or equated monthly installment) is a fixed amount of money paid by you to OBC against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • OBC offers business loans with loan tenure up to 84 months that translates into a lowest loan EMI of ₹ 1,733 per lakh, which makes it affordable for business loan borrowers. Lowest Rate of interest offered by OBC on business loan is 11.40%.

Use EMI Calculator to Calculate your EMI on Business Loan at Different Tenure

Business loan EMI for ₹ 10 Lakh loan amount at lowest 11.40% interest rate offered by OBC for different tenures

1 year 2 year 7 year
OBC EMI for loan amount of ₹ 10 Lakh at 11.40% ₹ 88,568 ₹ 46,794 ₹ 17,333
Total amount you pay back to the bank including principal and interest ₹ 11,18,967 ₹ 12,52,087 ₹ 21,96,445
Interest you have to pay over loan tenure ₹ 1,18,967 ₹ 2,52,087 ₹ 11,96,445
  • The above table shows the longer your loan tenure, lower is the EMI you pay on the loan. However, your total interest outgo is significantly higher in a long tenure loan. In the above example, if you take ₹ 10 Lakh loan for a period of 7 years, you pay the lowest EMI of ₹ 17,333. However, you pay an interest of ₹ 11,96,445 on a ₹ 10 Lakh loan.
  • In contrast, if you take a ₹ 10 Lakh loan from OBC at the lowest loan rate offered for a period of 1 year, you pay a higher loan EMI of ₹ 88,568 and pay an interest of only ₹ 1,18,967 which is less than half of what you paid in a 7 year loan. Hence, it is advisable to choose your loan tenure wisely as longer tenure means high interest expenses.

Factors affecting OBC Business Loan EMI

  • Loan amount - This is the amount borrower promises to repay to the bank with the interest applied. OBC gives minimum business loan of ₹ 0 up to an amount of ₹ 2,00,00,000.
  • Interest rate - Interest rate is the rate charged over the principal amount borrowed. Higher interest rate increases your loan EMI which will increase the total cost of the loan. Lowest interest rate offered by OBC is 11.40%. Do complete market research and compare rates online before you apply for a business loan.
  • Loan tenure - This is the period in which you can repay your business loan to the bank. Longer loan tenure means lower loan EMI. Generally, OBC offers business loan for a maximum tenure of 84 months.

OBC Business Loan Calculator Formula

P*r* (1+r)^n/([(1+r)^n]-1)
Here is an illustration of how OBC business loan EMI is calculated:
In above formula,
P = Loan amount. This can range from ₹ 0 to ₹ 2,00,00,000
r = Rate of interest per month. Current rate is 11.40%
n = tenure in month. For OBC, this can be 84 months

Tips to decide the right amount of OBC Business Loan EMI

  • Ascertain the amount you need to borrow: It is important that before approaching OBC for business loan, you need to estimate the amount of loan you need to borrow. Remember business loan is an unsecured short term loan, and hence it is advisable to minimize your loan amount to the extent possible. Also, based on the EMI you can service, try to opt for lowest tenure of loans as long tenure loans result in huge interest outgo.
  • Review your current obligations: Before taking loan from OBC, it is advisable to do an evaluation of your current monthly expenses including any EMI obligations that you have on your current loans. The assessment will help you to estimate the amount of EMI you can pay comfortably after taking into account other obligations. Once you arrive at the EMI you can service, you can also decide on the right loan tenure.

FAQs

What is the calculation of OBC Business Loan EMI?

Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to OBC against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.

  • Business Loan EMI (or equated monthly installment) is a fixed amount of money paid by you to OBC against the loan taken. This is towards repayment of your loan to the bank. Every month, it is due on a fixed day of the month till your loan is fully paid back.
  • With OBC offering business loan with loan tenure up to 84 months, the loan EMI can be as low as ₹ 1,733 per lakh, to make it more affordable and convenient to meet your business needs. Rate of interest offered by OBC are as low as 11.40%. You can check EMI for other tenures using our OBC business loan calculator.
  • This EMI consists of both interest payment and principal repayment. Though the EMI amount will remain constant, the principal component keeps increasing and on the other hand the interest component keeps reducing.

How does MyLoanCare business loan calculator calculate EMI?

This calculator calculates EMI considering a combination of loan amount, interest rate and loan tenure.

  • This calculator considers “reducing balance basis” and assumes that payment of EMI is made in arrears (means interest is charged for the month preceding the EMI payment date) and not in advance.

Will the OBC business loan EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

Typically, the business loan EMI remains unchanged unless the customer requests for a change and the same is approved by OBC subject to its eligibility conditions (note that nominal charges may apply for effecting a customer initiated change in EMI).

  • In case the floating rate of interest on your business loan increases, OBC will typically keep the EMI constant but increase the loan tenure. So, you will pay the same EMI but for a longer duration. In case the interest rates increase to an extent that the revised loan tenure is more than the maximum permissible by OBC, the bank may increase your EMI amount.
  • For partly disbursed loans availed under tranche EMI scheme, your loan EMI will increase with each disbursement.

Will business loan EMI change in case of prepayment?

OBC allows prepayment at nil charges or penalty in case of floating rate business loans.

  • When you make a prepayment, the outstanding principal amount on your loan reduces. In this case, you may choose to either keep the EMI same and reduce the loan tenure (that is paying off the loan faster) or reduce the EMI and keep the loan tenure same (that is paying lesser amount every month). It is beneficial to keep the EMI constant and reduce the loan tenure as you pay less interest to the bank in this option.

Why should I calculate OBC loan EMI before taking a loan?

In case EMI comes out to be more than your monthly budget, then you have the chance to apply for a lower loan amount which fits your monthly budget and makes EMI easily affordable.

  • If you already know the EMI you have to pay each month, then you can plan your expenses accordingly.
  • Based on the EMI amount, you can opt for making prepayment of your business loan in future when you have surplus amount.

Compare Business Loan EMI of All Banks

OBC Business Loan EMI Calculator Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 0562 - 2158816
Ambala 1800-180-1235
Anand 1800-180-1235
Aurangabad Bihar 1800-180-1235
Bangalore 080 - 25808905
Bhilai 1800-180-1235
Bhilwara 1800-180-1235
Bhiwadi 1800-180-1235
Bhopal 1800-180-1235
Bhubaneswar Cuttack 1800-180-1235
Bikaner 1800-180-1235
Chandigarh 0172 - 2704386
Chennai 044 - 28498899
Cochin 1800-180-1235
Coimbatore 1800-180-1235
Dehradun 1800-180-1235
Delhi 011 - 28751536
Durg 1800-180-1235
Faridabad 1800-180-1235
Ghaziabad 1800-180-1235
Goa 1800-180-1235
Greater Noida 011 - 28751536
Gurgaon 1800-180-1235
Guwahati 1800-180-1235
Gwalior 1800-180-1235
Hyderabad 040 - 23351 - 233
Indore 1800-180-1235
Jabalpur 1800-180-1235
Jaipur 1800-180-1235
Jalandhar 1800-180-1235
Jodhpur 1800-180-1235
Kanpur 1800-180-1235
Karnal 1800-180-1235
Kolhapur 1800-180-1235
Kolkata 1800-180-1235
Kota 1800-180-1235
Kozhikode 1800-180-1235
Lucknow 0522 - 2305764
Ludhiana 1800-180-1235
Madurai 1800-180-1235
Meerut 1800-180-1235
Mehsana 1800-180-1235
Mohali Sas Nagar 1800-180-1235
Mumbai 022 - 43434646
Mussoorie 1800-180-1235
Nagpur 022 - 43434646
Nashik 022 - 43434646
Noida 011 - 28751536
Noida Extn 011 - 28751536
Panipat 1800-180-1235
Patna 1800-180-1235
Pondicherry 1800-180-1235
Pune 020 - 25676464
Raipur 1800-180-1235
Rajkot 1800-180-1235
Ranchi 1800-180-1235
Rohtak 1800-180-1235
Roorkee 1800-180-1235
Salem 044 - 28498899
Shimla 1800-180-1235
Sonipat 1800-180-1235
Surat 1800-180-1235
Trichy 1800-180-1235
Udaipur 1800-180-1235
Vadodara 1800-180-1235
Varanasi 1800-180-1235
Vijaywada 1800-180-1235
Vizag 1800-180-1235

OBC Business Loan News - Jul 2020
  • 2020-01-24 : OBC net profit surged by 39.11%
    Oriental Bank Of Commerce profit increased by 393.11% to Rs 201.66 crores. The total income boosted by Home Loan and Business Loan increased to Rs 5642 crores which was Rs 5127 crores earlier. Further, gross NPA fell to 12.64% from 15.82% in the corresponding period of last year.
  • 2019-05-28 : Srei Equipment joins hand with OBC to offer loans for equipment purchase
    Srei Equipment Finance Limited has joined hands with Oriental Bank of Commerce (OBC) to offer loans for the purchase of equipment under a co-lending arrangement. Under this arrangement, both of the entities would collaborate and widen their respective market share and customer base by sharing each other’s expertise in the relevant field.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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