OBC Home Loan Interest Rate Calculator - Mar 2017

OBC Home Loan Interest Rates

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Last Updated 24th Mar 2017
Interest Rate 8.60% - 8.70%
Check Special Offer
Lowest EMI Rs. 812 per lakh
Max Tenure 25 years
Processing Fee Upto 0.50%
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 18 and Max 60 years for Salaried
Min 18 and Max 60 years for Self Employed
Apply Home Loan Online @8.50%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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OBC Home Loan

OBC offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan OBC

Home loan interest rates offered by OBC depends upon MCLR.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.
OBC offers home loan based on 1 Year MCLR rates which is currently 8.60%.
OBC home loan interest rate depends upon
  • Loan amount: Home loan rate in OBC depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: OBC has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. OBC interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • 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 home loan with Nil prepayment charges
  • Processing Fee - OBC asks for a processing fee of 0.50% of loan amount with applicable service tax

OBC Home Loan EMI Calculator

    Home Loan EMI of OBC is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure
  • Home Loan EMI calculator of OBC helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI
What are the benefits of calculating OBC Home Loan EMI?
  • EMI calculator of OBC helps you to calculate your monthly EMI at different rate of interest
  • OBC Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

OBC Home Loan Eligibility Calculator

Home Loan eligibility criteria OBC
Eligibility of House loan in OBC relies upon different factors but the most important factor is your ability to repay the loan. 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 Home loan to salaried at the age of 18 to 60 years and self employed individuals at 18 to 60 years
  • Income: In case of salaried person, OBC Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from OBC. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your OBC eligibility. If you are working with a reputed company, probability of getting home loan from OBC increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: OBC gives you Home loan depending upon your income. OBC gives you an amount ranging from Rs. 1,500,000 to Rs. 30,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service
  • Estimated eligibility online by using Eligibility Calculator.

    OBC Floating Rate Home Loans

    OBC Home Loan Floating
    Upto Rs. 3,000,000 - 8.60%
    Rs. 3,000,001 - 7,500,000 - 8.60%
    Rs. 7,500,001 - 15,000,000 - 8.60%
    Above Rs. 15,000,000 - 8.60% linked to 1 Year MCLR

    OBC Home Loan Top up, Transfer

    Transfer of Home Loan from another bank to OBC?
    OBC offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of OBC
    You can avail additional top-up home loan from OBC, subject to your eligibility

    Housing Loan OBC documents required

    Home Loan for Salaried employee OBC documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • ITR of last 2 years
    • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

    Home Loan for Self-Employed OBC documents required

    • Filled up loan application form
    • 2 Passport Size Photo
    • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
    • ITR of last 2 years
    • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
    • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

    Frequently Asked Questions

    Why to take home loan from OBC?
    OBC offers home loan at lower rate of interest i.e. at 8.60% with the lowest EMI of Rs. 812 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to OBC.
    What is the maximum loan tenure I can opt under OBC house loan?
    OBC offers you a longer tenure of 25 years to repay your home loan with a benefit of paying less EMI per month.
    Do I get tax benefit on home loan from OBC?
    As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.
    Can I foreclosure my home loan? What are the charges applicable?
    Yes, you can foreclose your home loan with Nil charges.
    Can I transfer my home loan from another bank to OBC?
    Yes, OBC gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to OBC offers you to pay lower EMIs and save money.
    Can I club the income of my spouse with mine and apply for joint home loan?
    You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.
    What is the benchmark applicable for home loan in OBC?
    The benchmark applicable for home loan in OBC is 1 Year MCLR.
    What is the effect of part payments on OBC housing loan EMI ?
    Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.
    How to increase my eligibility on OBC housing loan?
    If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.
    How will interest rate on OBC housing loan change in future?
    • Floating interest rate on OBC housing loan is linked to its 1 Year MCLR Rate, which is currently at 8.60%. So, when OBC offers a home loan at 8.60%, it applies a premium of 0% to its MCLR Rate to arrive at this home loan interest rate.
    • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

    OBC Home Loan in India

    OBC Home 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
    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
OBC Home Loan Interest Rate News - Mar 2017
18th Mar 17 Citibank India cuts processing fees to zero
Citibank India decision to introduce zero processing fees has brought in good news for borrowers. The bank has revised its loan processing fees to nil from 0.50 percent earlier for its home loan and loan against property borrowers. Loan segments including home loan and loan against property.
18th Mar 17 Home loan revives post demonetization
Real estate developers are hopeful to see an increase in the purchase of new house units post demonetization as the banks are flushed with funds and likely to push home loans aggressively. According to a senior ICCI Bank representative, the bank has witnessed a healthy growth in home loan queries after demonetization. Real Estate experts expect the housing sector in India to witness a strong growth in FY18.
18th Mar 17 Axis Bank kept its MCLR for March 2017 unchanged
Axis Bank has kept its marginal cost of lending rate unchanged for the month of March 2017. The bank has kept its overnight and six month MCLR unchanged at 7.90 and 8.15 percent respectively. Similarly, Axis Bank did not change its one year MCLR that stands at 8.25 percent. With the unchanged MCLR, interest rate for home loans continues to be at 8.65 percent.
18th Mar 17 Bad loans of Indian banks rise to Rs. 9.64 trillion
Banking industry is getting increasingly burdened with the rising quantum of bad loans. As per statistics released by Finance Ministry, stressed loans of Indian banks have reached Rs. 9.64 trillion during December, 2016 as compared to Rs. 8.97 trillion in September, 2016.
17th Mar 17 SBI Chief says the merger with associate banks may lead to small rise in costs
Chairman of State Bank of India has stated that the merger of SBI with its associate banks may lead to marginal increase in the costs for the bank, especially till the third quarter of FY18. Post merger, the bank expects to report higher growth in its business across all loan segments including home loan and personal loans.
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