OBC Business Loan Interest Rate Dec 2018

Last Updated 07th Dec 2018

OBC Business Loan Interest Rates India

OBC offers Business Loan starting at interest rate of 11.40%. The rates vary by loan amount, occupation and type of loan availed. Check Best Offers

OBC Business Loan Features
OBC Business Loan Rate
Loan for Self Employed Features
Processing Fee 0.50% of Loan Amount
Tenure From 12 months to 84 months
Lowest EMI per lakh Rs. 1,733
Loan Amount Max Rs. 2 Cr
Part Prepayment, Charges Nil Prepayment Charges
Early Foreclosure, Charges Nil Prepayment Charges
Apply for Business Loan @ 13.50%*
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OBC Business Loan

OBC offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from OBC:

  • You can prepay part of your loan anytime after paying 1 % prepayment charges
  • You can foreclose your entire Business loan anytime after paying 0 EMI's at foreclosure charges - Nil Prepayment Charges
  • OBC has over 2,118 branches in India where you can avail service

OBC Business Loan Interest Rate Calculator

There are multiple factors on which basis bank calculates your interest rate. Some of these factors are -

  • Loan amount: Business loan rate in OBC depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate. Bank gives loan of minimum Rs. 0 to upto Rs. 2 Cr. Interest rate for high loan amount can be lower resulting in lower EMIs.
  • CIBIL Score: OBC offers loan at higher interest rate if your CIBIL score is low or vice versa. However, to get loan from OBC, your CIBIL score should be atleast 700. Higher the CIBIL Score, higher the chances of getting a loan at lowest business loan interest.
  • Revenue: OBC will offer you loan at lower interest rate if you have higher monthly revenue. Bank gives loan to the borrowers whose annual turnover is at least Rs. 0 .
  • Time in Business: OBC offers loan at lower rates if you have significant business experience. Minimum business existence to get loan from OBC is 0 months.

OBC Eligibility Criteria

Bank have a detailed criteria to determine the eligibility of a borrower for business loans. Some of the key criteria are:

Eligibility Criteria Description
Age: 25 to 65 years
Minimum Turnover Rs. 0
Business Existence (in months) 0 months
ITR (months) 24 months
Loan Amount Rs. 0 to Rs. 2 Cr
Loan Tenure 84 months
Owned House or Place of Work Not Required
CIBIL Score 750 and above

OBC Business Loan Eligibility Calculator

Eligibility of Business loan in OBC relies on two important factor:

1.Your ability to repay the loan and
2.Your past track record in repayment of loans.

The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. OBC offers loan to those who are at least 25 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Loan Amount: Based on the loan amount eligibility, bank gives you loan ranging from Rs. 0 to Rs. 2 Cr. To improve chances of approval, apply for a loan amount that you can comfortably service.
  • Profitability and Revenue: Loan eligibility significantly depends upon profitability on your turnover, revenue and profitability. OBC requires profit for minimum 2 years and minimum business turnover of Rs. 0 .
  • Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. OBC requires minimum business track record of 0 months. The bank will also look for minimum growth in sales for the last three year. A decline in sales for a certain period or below a certain limit might impact your eligibility to get loan.
  • ITR and Banking: Bank gives loan only after checking your income tax return and bank statements. Your ITR details for minimum 24 months and bank statement for minimum 6 months will be required by OBC.
  • CIBIL Score: When checking loan eligibility, OBC will look at the complete CIBIL report. OBC will check your repayment history for all current and past loans and credit cards. Bank advise you to maintain a score of 750 and above to get loan approval.

OBC Business Loan EMI Calculator

OBC Business Loan EMI is a fixed amount that you pay each month towards the repayment of your loan till the end of tenure. Lowest EMI offered by OBC is Rs. 1,733 per lakh loan amount. EMI of OBC depends on factors like:

  • Interest Rate: Higher the interest rate, higher will be the EMI. For a 84 months loan from OBC at an interest rate of 11.40% per annum, EMI will be Rs. 1,733 per Rs. one lakh loan amount. At an interest rate of 12.40% for the same loan, the EMI will be Rs. 1,787 .
  • Loan tenure: Longer the loan tenure, lesser your smonthly EMI. At interest rate of 11.40% per annum, the EMI on OBC business loan would range from Rs. 8,857 to Rs. 1,733 for loan tenure ranging from 12 to 84 months.
  • Amount Borrowed: OBC Loan EMI will be high if you apply for a high loan amount. For amount borrowed Rs. 0 , the EMI at 11.40% for 84 months would be Rs. 0 . Similarly for amount borrowed Rs. 2 Cr, the EMI at 11.40% for 84 months would be Rs. 3.47 Lakh.
What are the benefits of calculating business loan EMI?
  • Business loan EMI calculator of OBC helps you to calculate your monthly EMI at different rate of interest
  • OBC EMI calculator helps you to know your capacity to repay the loan after meeting your regular monthly expenses
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly
Business Loan Products

OBC offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

Laghu Udhami Credit Card Oriented business Card Scheme

Description

  • Get maximum loan up to Rs. 10 lakhs
  • Oriental Business Card is valid for 3 years
  • Flexible repayment tenure of 5 years
  • To meet credit requirements of small businesses.
  • No collateral required

Who is eligible?

  • Self employed involved in small business units, retail traders, artisans, village industries can apply for this loan
Other Charges

In addition to interest rates, business loan also carry some other charges which include:

  • Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. OBC allows prepayment of loan after paying 0 EMI’s with prepayment charges - Nil Prepayment Charges
  • Processing Fee- OBC asks for a processing fee of 0.50% of Loan Amount with applicable service tax
Documents required
  • Address proof of individual: Aadhaar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills
  • Identity proof of individual: Passport, Driving License, PAN Card, Aadhaar Card, Voter’s ID Card
  • Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI
  • Copy of Income Tax PAN for 24 months
  • Bank statement of last 6 months

Compare OBC Business Loan with other banks

FAQs on Business Loan OBC

Why to take business loan from OBC ?

Bank offers loan at 11.40% rate with the lowest EMI of Rs. 1,733 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your loan to OBC.

What is the interest charged on OBC business loan?

Interest rates on Business loan in OBC are very attractive starting from 11.40% to 12.40%. Bank offer various offer for self employed professionals to get loan at very low rate of interest.

What is the lowest EMI per lakh on business loan from OBC ?

If you apply for loan from OBC, your lowest EMI per lakh will be Rs. 1,733 .

What is the minimum and maximum tenure of business loan in OBC?

These loans are shorter tenure loans. You can repay your loan in a flexible period of minimum 12 months to maximum 84 months.

How much business loan amount I can borrow from OBC?

OBC offers you loan if you need a minimum amount of Rs. 0 to a maximum amount of 2 Cr.

What is the processing fee charged by OBC on business loan?

OBC charges a processing fee of 0.50% of Loan Amount with applicable tax.

Is age an eligibility factor to get loan for business from OBC ?

Yes, age is an important eligibility factor to get loan as you should be at least 25 years old at loan approval time and 65 years old at loan maturity time.

What are the prepayment charges on business loan from OBC?

Bank charges a fee in case you want to repay your entire loan amount before the end of tenure period. The fee charged by OBC is Nil Prepayment Charges .

OBC Business Loan Customer Care Number, Email, Application Status, Branches
City Customer Care Number
Agra 0562 - 2158816
Ambala 1800-180-1235
Anand 1800-180-1235
Aurangabad 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
Gandhinagar
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
Sonepat 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

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