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OBC Home Loan Calculator

OBC Housing Loan EMI Calculator

Last Updated 03rd Aug 2021

  • OBC home loan EMI per ₹ 1 Lakh is ₹ 729, which is one of the lowest EMI offered by banks. Check Best Offers
  • Housing loan EMI in OBC is calculated based on loan amount, loan tenure and interest rate.
  • It is better to calculate your EMI for OBC home loan before applying. Use an online OBC loan EMI calculator to estimate your EMI.
  • Check OBC home loan EMI for different tenures at the current OBC home loan interest rate of 7.35%
  • Loan Amount10 Year Loan15 Year loan25 Year loan
    ₹ 10 Lakh₹ 11,792₹ 9,185₹ 7,293
    ₹ 20 Lakh₹ 23,584₹ 18,370₹ 14,585
    ₹ 30 Lakh₹ 35,376₹ 27,555₹ 21,878
    ₹ 50 Lakh₹ 58,960₹ 45,925₹ 36,463

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

    Jump to EMI Calculator

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OBC Home Loan EMI Calculator Online

OBC Home Loan EMI is the fixed amount that you need to pay on a fixed date of the month till the end of repayment tenure. The amount is based on your loan amount, tenure and interest rate. You can calculate your OBC housing loan EMI in advance to plan your loan payments and expenses using a OBC home loan calculator. OBC home loan EMI calculator is an online tool that functions on a mathematical algorithm and gives accurate results without hassle.

Why should you use OBC Home Loan EMI Calculator?

  • Calculate the EMI at Different Tenures: OBC offers the lowest EMI per lakh at . To get the lowest EMI on your home loan, you can compare the EMIs with a different loan amount and tenure. However, it is advisable to check with the bank to know the interest rate you will be eligible for OBC home loan.
  • Compare OBC Home Loan EMI: With OBC home loan EMI Calculator, you can also estimate EMI on your home loan from OBC with other leading banks in India at the same loan amount and tenure at varying interest rates.
  • Get Detailed Amortisation Schedule: You can calculate the division of total EMIs into interest and principal repayment on your loan at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance: Finally, you can also calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. If you want to reduce your home loan tenure, you can always consider a home loan balance transfer because other banks may allow you to pay your home loan at low rates.

OBC Home Loan EMI Calculator to estimate the EMI that fits your budget

To calculate your home loan EMI at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on OBC Home Loan EMI calculator. The below-mentioned table shows the calculation of OBC Home Loan at the various combinations of loan amount and years at the lowest rate of 7.35%. Considering this example, if you think you can afford to pay an EMI of in your budget, take an loan for 15 years or loan for 30 years, maybe the right OBC Home loan plan for you.

OBC home loan EMI is calculated for different loan amounts and tenures at 7.35% interest rate
Loan Tenure
Loan Amount (Rs.) 15 years20 years30 years
₹ 25 Lakh ₹ 22,963 ₹ 19,911 ₹ 17,224
₹ 50 Lakh ₹ 45,925 ₹ 39,822 ₹ 34,449
₹ 75 Lakh ₹ 68,888 ₹ 59,733 ₹ 51,673
₹ 1 Cr ₹ 91,851 ₹ 79,645 ₹ 68,897

Benefits of using OBC Home Loan EMI Calculator

OBC Home Loan Calculator is online and gives instant results with 100% accuracy. The best part is that you can calculate and compare multiple EMIs on different combinations of loan amount, interest rate and tenure. Thus, using OBC Home Loan EMI Calculator helps you to choose the right amount of EMI that is affordable and also decide on the right loan amount and loan tenure. Further, if you use the MyLoanCare OBC Home Loan Calculator, you have the option to receive calculated EMIs and amortization schedules for each calculation by mail which can be referred to at a later stage when you are making the final decision to take a loan.

Factors Affecting OBC Home Loan EMI

Home Loan EMI can be calculated using an online Home Loan Calculator which takes into account factors such as loan amount, rate of interest and the tenure for which you are planning to avail the loan.

Loan Amount

If you apply for a higher loan amount, you will have to pay a higher EMI OBC gives a minimum home loan of ₹ 15,00,000 upto a maximum amount of ₹ 3,00,00,000.

Interest Rate

Higher interest rate increases your OBC housing loan EMI which will increase the total cost of the loan. OBC current home loan interest rate starts at 7.35%. Do a complete market research and compare rates and calculate EMI online using OBC home loan calculator before you apply for a home loan.

Loan Tenure

This is the period in which you can repay your home loan in OBC. Your EMI will be lower if you take a 0 years loan from OBC as compared to a loan taken for 5 years. For a longer period, you get to pay a smaller EMI and vice-versa.

OBC Home Loan EMI Calculator Formula

OBC Home Loan Calculator calculates EMI based on the following formula.

P*r* (1+r)^n/([(1+r)^n]-1)

Here is an illustration of how OBC Home Loan EMI calculator formulates EMI:

In above formula,

  • P = Loan amount. OBC home loan amount can range from ₹ 15,00,000 to ₹ 3,00,00,000
  • r = Rate of interest per month. Current OBC housing loan rate 7.35%.
  • n = tenure in month. For OBC, maximum home loan tenure is 360 months

Comparison of OBC Home Loan EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
OBC 7.35% ₹ 6,890 ₹ 20,669 ₹ 34,449
HDFC 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
ICICI Bank 6.70% ₹ 6,453 ₹ 19,358 ₹ 32,264
SBI 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098
LIC Housing Finance 6.66% ₹ 6,426 ₹ 19,279 ₹ 32,131
Axis Bank 6.65% ₹ 6,420 ₹ 19,259 ₹ 32,098

OBC Home Loan Amortization Calculator

OBC Home Loan amortization schedule gives a break up of your monthly EMI into interest and principal repayment. OBC gives you a detailed amortisation schedule with the sanction letter and you can calculate the total interest outgo as well as the pace at which your loan amount will be repaid during the loan tenure.

How to read an amortization schedule

Suppose if you take a Home Loan of ₹ 30 Lakh for 15 years from OBC at an interest rate of 7.35%. EMI calculated for this loan amount is ₹ 27,555 and the total annual EMIs to be paid annually is ₹ 3,30,663. The EMI schedule of loan for 15 years is explained below in the table –

Amortization Schedule for a Home Loan of ₹ 30 Lakh over the 15 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 36,694 ₹ 18,417 ₹ 55,111 ₹ 29,81,583
2022 ₹ 2,15,312 ₹ 1,15,351 ₹ 3,30,663 ₹ 28,66,232
2023 ₹ 2,06,542 ₹ 1,24,121 ₹ 3,30,663 ₹ 27,42,111
2024 ₹ 1,97,105 ₹ 1,33,558 ₹ 3,30,663 ₹ 26,08,553
2025 ₹ 1,86,951 ₹ 1,43,712 ₹ 3,30,663 ₹ 24,64,841
2026 ₹ 1,76,025 ₹ 1,54,638 ₹ 3,30,663 ₹ 23,10,203
2027 ₹ 1,64,269 ₹ 1,66,395 ₹ 3,30,663 ₹ 21,43,809
2028 ₹ 1,51,618 ₹ 1,79,045 ₹ 3,30,663 ₹ 19,64,764
2029 ₹ 1,38,006 ₹ 1,92,657 ₹ 3,30,663 ₹ 17,72,106
2030 ₹ 1,23,359 ₹ 2,07,305 ₹ 3,30,663 ₹ 15,64,802
2031 ₹ 1,07,598 ₹ 2,23,065 ₹ 3,30,663 ₹ 13,41,736
2032 ₹ 90,639 ₹ 2,40,024 ₹ 3,30,663 ₹ 11,01,712
2033 ₹ 72,390 ₹ 2,58,273 ₹ 3,30,663 ₹ 8,43,439
2034 ₹ 52,755 ₹ 2,77,909 ₹ 3,30,663 ₹ 5,65,530
2035 ₹ 31,626 ₹ 2,99,037 ₹ 3,30,663 ₹ 2,66,493
2036 ₹ 9,060 ₹ 2,66,493 ₹ 2,75,553 -₹ 0

In the above illustration, on a OBC Home Loan of₹ 30 Lakh, taken at the lowest interest rate of 7.35, EMI paid is ₹ 27,555 and an annual total of EMIs is ₹ 3,30,663, the interest component is ₹ 2,16,712 while the principal component is ₹ 1,13,951 in year 1 of loan disbursement. You repay only 3.8% of the total principal after paying 12 EMIs during the first year.

OBC Home Loan EMI for ₹ 10 Lakh

The following table shows OBC Housing Loan EMI for ₹ 10,00,000 for different tenures at an interest rate of 7.35%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 7.35% 5 Years ₹ 19,967
₹ 10,00,000 7.35% 10 Years ₹ 11,792
₹ 10,00,000 7.35% 15 Years ₹ 9,185
₹ 10,00,000 7.35% 20 Years ₹ 7,964
₹ 10,00,000 7.35% 0 Years

OBC Home Loan EMI for ₹ 20 Lakh

The following table shows OBC Housing Loan EMI for ₹ 20,00,000 for different tenures at an interest rate of 7.35%

Loan Amount Interest rate Tenure (Year) EMI
₹ 20,00,000 7.35% 5 Years ₹ 39,933
₹ 20,00,000 7.35% 10 Years ₹ 23,584
₹ 20,00,000 7.35% 15 Years ₹ 18,370
₹ 20,00,000 7.35% 20 Years ₹ 15,929
₹ 20,00,000 7.35% 0 Years

OBC Home Loan EMI for ₹ 30 Lakh

The following table shows OBC Housing Loan EMI for ₹ 30,00,000 for different tenures at an interest rate of 7.35%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 7.35% 5 Years ₹ 59,900
₹ 30,00,000 7.35% 10 Years ₹ 35,376
₹ 30,00,000 7.35% 15 Years ₹ 27,555
₹ 30,00,000 7.35% 20 Years ₹ 23,893
₹ 30,00,000 7.35% 0 Years

OBC Home Loan EMI for ₹ 50 Lakh

The following table shows OBC Housing Loan EMI for ₹ 50,00,000 for different tenures at an interest rate of 7.35%

Loan Amount Interest rate Tenure (Year) EMI
₹ 50,00,000 7.35% 5 Years ₹ 99,834
₹ 50,00,000 7.35% 10 Years ₹ 58,960
₹ 50,00,000 7.35% 15 Years ₹ 45,925
₹ 50,00,000 7.35% 20 Years ₹ 39,822
₹ 50,00,000 7.35% 0 Years

Other Loan Calculators Offered by MyLoanCare

FAQs

Will the OBC home loan EMI remain constant or change in future?

No, your OBC Home Loan EMI can change if you have taken a floating rate loan and there is a change in the repo rate to which the home loan rate has been benchmarked. However, if it is a fixed rate loan, the OBC Home Loan EMI will remain unchanged throughout the loan tenure unless you request for a change in tenure or prepay your loan amount.

What happens in case of increase or decrease in OBC interest rate?

OBC offers floating rate home loans only. If you take a floating rate loan from OBC, your interest rate and hence EMI will decrease with a cut in the repo rate and increase with an increase in repo rate on the date of reset. This means that your OBC home loan EMI can keep fluctuating during the loan tenure depending on the changes in interest rates.

Will OBC home loan EMI change in case of prepayment?

OBC allows prepayment at nil charges in case of floating rate home loans. When you make a prepayment, the outstanding balance of the principal amount on your OBC home 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 the same (that is paying a lesser amount every month). It is beneficial to keep the OBC home loan EMI constant and reduce the loan tenure as you pay less interest to the bank in this option. After prepayment, you can calculate your home loan EMI using OBC home loan calculator.

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

It is advised to calculate OBC home loan EMI before taking a home loan. There are several benefits of calculating your OBC housing loan EMI which can be done using OBC loan calculator OBC housing loan EMI calculator as discussed below -

  • 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 make OBC EMI affordable.
  • If you already know the EMI you have to pay each month, then you can plan your spends accordingly
  • Based on the EMI amount, you can opt for making a prepayment of your home loan in the future when you have a surplus amount. You can calculate the aftermaths of prepayment using home loan emi calculator OBC.

What is the EMI for home loan in OBC?

The OBC EMI will vary based on loan amount, tenure, rate of interest and can be calculated using OBC home loan calculator. Based on the lowest rate of 7.35% and maximum tenure of 25 years, the OBC home loan EMI for different loan amount will be:

Loan amount EMI
₹ 10 Lakh ₹ 7,293
₹ 12 Lakh ₹ 8,751
₹ 15 Lakh ₹ 10,939
₹ 30 Lakh ₹ 21,878
₹ 50 Lakh ₹ 36,463

You can compare OBC home loan EMI for different loan amounts and tenure and then choose the loan amount based on your repayment capacity.

How accurate is a OBC Housing Loan EMI calculator?

Online OBC housing loan calculators use technology to calculate the results and hence, if the data entered by you is correct the results should be 100% accurate.The calculator works on a mathematical algorithm based on the formula: P*r* (1+r)^n/([(1+r)^n]-1). Here, P is the loan amount, r is the rate of interest per month and n is the tenure in month. The OBC home loan emi calculator is far better than manual calculations , as chances of error are less.

How to pay your OBC Home loan EMI Online?

To pay the EMI of OBC home loan, you can log in to your net banking account as provided during the time of availing the loan and pay using your savings account or debit/credit card. You can also visit the branch and submit the cheque of your EMI.

How is OBC home loan EMI calculated?

The OBC Home loan EMI calculation formula is as follows:
E = [P x R x (1+R)^N]/[(1+R)^N-1] where
‘E’ means Equated monthly instalments
‘P’ means the principal amount
‘N’ is the number of monthly instalments
‘R’ is the interest rate per month.

What is the EMI for ₹ 10 Lakh home loan in OBC?

You can use a 10 lakh home loan emi calculator OBC, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 7.35% 10 years loan ₹ 11,792
₹ 10 Lakh 7.35% 15 years loan ₹ 9,185
₹ 10 Lakh 7.35% 20 years loan ₹ 7,964

What is the EMI for ₹ 20 Lakh home loan in OBC?

You can use a 20 lakh home loanemi calculator OBC, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 7.35% 10 years loan ₹ 23,584
₹ 20 Lakh 7.35% 15 years loan ₹ 18,370
₹ 20 Lakh 7.35% 20 years loan ₹ 15,929

What is the EMI for ₹ 30 Lakh home loan in OBC?

You can use a 30 lakh home loan emi calculator OBC, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 7.35% 10 years loan ₹ 35,376
₹ 30 Lakh 7.35% 15 years loan ₹ 27,555
₹ 30 Lakh 7.35% 20 years loan ₹ 23,893

What is the EMI for ₹ 50 Lakh home loan in OBC?

You can use a 50 lakh home loan emi calculator OBC, to determine different EMI for different tenures. Let`s understand with examples:-

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 7.35% 10 years loan ₹ 58,960
₹ 50 Lakh 7.35% 15 years loan ₹ 45,925
₹ 50 Lakh 7.35% 20 years loan ₹ 39,822

What is the EMI for a 25 lakhs home loan in OBC and how is it calculated?

EMI for ₹ 25 lakhs will be as follows for three different tenure, as per 25 lakh home loan emi calculator OBC:--

Loan amount Interest rate Tenure EMI
₹ 25 Lakh 7.35% 10 years loan ₹ 29,480
₹ 25 Lakh 7.35% 15 years loan ₹ 22,963
₹ 25 Lakh 7.35% 20 years loan ₹ 19,911

What is the EMI for 12 lakhs home loan in OBC?

A borrower will pay ₹ 12,566 if he/she takes a loan for 12 years at an interest rate of 7.35%. The 12 lakh home loan emi OBC may vary across OBC home loan interest rate.

Compare Home Loan EMI of All Banks


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OBC Home Loan News - Nov 2021
  • 2021-07-15 : OBC & UBI merged with PNB
    After the merger of OBC and UBI with PNB in April 2020, PNB has now updated the IFSC codes of all the branches of PNB and UBI. New IFSC codes have come into effect from July 1, 2021.
  • 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.
  • 2020-01-10 : OBC cuts lending rates by 15 bps
    With effect from 10 January 2020, Oriental Bank Of Commerce revised its MCLR. The one-year MCLR rate stands at 8.15% which was 8.30% in the previous month. The MCLR for overnight period is 7.55%, one-month MCLR is 7.60% and three months MCLR is 7.80%. MCLR for six months stands at 8% which was 8.05% earlier. The revised rates will impact loan against property and home loans.
  • 2019-08-09 : Oriental Bank of Commerce reduces MCLR rates by 5 bps making it home loans cheaper
    Oriental Bank of Commerce (OBC) has slashed its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points, making its home loans and mortgage loans cheaper. The lender has reduced a one-year MCLR rate to 8.55%, earlier the rate was 8.65%. For one-month and three months, the rate has been revised to 8.20% and 8.35% respectively. The rates are effective from August 10, 2019.
  • 2019-07-23 : Oriental Bank of Commerce’s Q1 net profit at Rs. 112 crores on better asset quality
    Public sector lender, Oriental Bank of Commerce has posted a net profit of Rs. 112 crore on the back of better asset quality and fewer provisions. The lender also has plans to achieve significant growth across its retail loan segment, including home loans and fixed deposits.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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