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OBC Loan Against Property EMI Calculator

OBC Mortgage Loan EMI

Last Updated 01st Mar 2021

Get monthly EMI as low as ₹ 1,375 per lakh on OBC loan against property. Mortgage loan EMI in OBC depends upon type of property (residential, commercial, industrial), occupation (businessmen, self employed, salaried), loan amount, loan tenure and interest rate.

Loan Amount5 Year Loan7 Year loan10 Year loan
₹ 20 Lakh₹ 43,435₹ 34,192₹ 27,493
₹ 30 Lakh₹ 65,152₹ 51,288₹ 41,240
₹ 50 Lakh₹ 1,08,587₹ 85,481₹ 68,734

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

    Apply for Loan Against Property @ 7.20%* Get upto ₹ 1,000* Cashback
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    Loan Against Property EMI Calculator OBC

    Use the above quick and easy tool to easily calculate and compare monthly EMI on OBC Loan Against Property.

    OBC Loan Against Property Amortization Calculator

    The amortization schedule breaks the month-wise calculation of principal and interest amount you will be paying in the form of your EMIs. In simple words, with each month’s EMI, the share of interest and the principal amount keeps changing, while the former keeps on reducing the later keep on increasing. That’s why if you decide to prepay your loan in the first few years you will find out that you have paid a very small proportion of the principal sum. Let us understand this better with the help of an illustration.

    Illustration: How to read an amortization schedule

    Suppose you borrow a Loan Against Property of ₹ 15 Lakh from OBC for 15 years at an interest rate of 10.95%, the EMI calculated for this loan amount would be ₹ 17,002 and the total annual EMIs to be paid annually is ₹ 2,04,023. The OBC Loan Against Property EMI schedule for 15 years is explained below in the table –

    Amortization Schedule for a Loan Against Property of ₹ 15 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 ₹ 1,22,075 ₹ 30,942 ₹ 1,53,017 ₹ 14,69,058
    2022 ₹ 1,58,628 ₹ 45,394 ₹ 2,04,023 ₹ 14,23,664
    2023 ₹ 1,53,401 ₹ 50,622 ₹ 2,04,023 ₹ 13,73,042
    2024 ₹ 1,47,571 ₹ 56,452 ₹ 2,04,023 ₹ 13,16,590
    2025 ₹ 1,41,069 ₹ 62,953 ₹ 2,04,023 ₹ 12,53,637
    2026 ₹ 1,33,819 ₹ 70,203 ₹ 2,04,023 ₹ 11,83,433
    2027 ₹ 1,25,734 ₹ 78,289 ₹ 2,04,023 ₹ 11,05,145
    2028 ₹ 1,16,718 ₹ 87,305 ₹ 2,04,023 ₹ 10,17,840
    2029 ₹ 1,06,663 ₹ 97,359 ₹ 2,04,023 ₹ 9,20,481
    2030 ₹ 95,451 ₹ 1,08,572 ₹ 2,04,023 ₹ 8,11,909
    2031 ₹ 82,947 ₹ 1,21,076 ₹ 2,04,023 ₹ 6,90,833
    2032 ₹ 69,003 ₹ 1,35,019 ₹ 2,04,023 ₹ 5,55,814
    2033 ₹ 53,454 ₹ 1,50,569 ₹ 2,04,023 ₹ 4,05,245
    2034 ₹ 36,113 ₹ 1,67,909 ₹ 2,04,023 ₹ 2,37,336
    2035 ₹ 16,776 ₹ 1,87,247 ₹ 2,04,023 ₹ 50,089
    2036 ₹ 917 ₹ 50,089 ₹ 51,006 ₹ 0

    Each OBC Loan Against Property EMI consists of both amounts of interest as well as the principal repaid. The interest component of EMI goes down while the principal component goes up in both cases while doing the calculation.

    As you assess the amortization table, you will find that by the end of 1st year 20.5% of your EMI has been used to repay the principal amount. This means that the remaining 79.5% of the EMI went into interest payment. Thus, you end up paying only 2.79% of the loan amount of ₹ 15 Lakh after paying 12 EMIs in the first year to OBC.

    In year 15, the interest component of OBC EMI is around 5.69%, while the principal component is around 94.31%. Upto 15 years, you have cumulatively repaid 100% of your total OBC Loan Against Property.

    How to process for Loan Against Property EMI moratorium in OBC?

    After the announcement of RBI on 22nd May 2020, OBC has extended the loan moratorium for the term loans and interest of working capital loans to next three months till August 2020. As a borrower, you have the option to opt-in or opt-out of the moratorium by informing OBC. The interest will continue to accrue on the principal outstanding during this moratorium and the accumulated interest would be added to the principal amount resulting in the extension of loan tenure except in cases where the tenure extension is not possible will increase EMI amount. The moratorium on payment of Loan Against Property EMI’s will not be treated as default and will not have any negative impact on the borrower’s credit score. To know more about the moratorium option, you may contact OBC customer care or its nearest branch.


    Will the OBC Loan Against Property EMI remain constant or change in future? What happens in case of increase or decrease in interest rate?

    OBC Loan against property may change as per the borrower’s financial ability or in case of floating rate of interests offered by the lender. The consequences of the change in SBI LAP EMI are listed as follows:

    • Typically, the Loan Against Property 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 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 the extent that the revised loan tenure is more than the maximum permissible by OBC, the bank may increase your EMI amount.

    Will Loan Against Property EMI change in case of prepayment?

    Similar to all loans, Loan against property also offers the prepayment facility to the loan borrowers. Prepayment of loan leads to certain changes as listed below:

    • When you make a prepayment, the outstanding principal amount on your property loan reduces. You may choose to either keep the EMI the same and reduce the loan tenure (enabling you to pay off the loan faster) or reduce the EMI and keep the loan tenure unchanged (thus paying a 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.
    • Note that OBC may levy prepayment charges except on floating rate property loans sanctioned to individuals.

    How does Loan Against Property EMI calculator, calculate Loan Against Property EMI?

    Loan against property is a reliable and time-saving tool to calculate the LAP EMI. It functions as follows:

    • EMI is calculated using a combination of the loan amount, loan tenure and interest rate.
    • OBC mortgage loan calculator calculates EMI on a reducing balance basis and assuming payment of EMI in arrears (that is interest is charged for the month preceding the date of EMI payment on EMI date) and not in advance.

    How much loan can I get against my property from OBC?

    You can avail of a maximum loan of ₹ 10 Cr, depending on the value of the property. However, the loan amount cannot be more than 60% of the property value. OBC assesses the property before approving your mortgage loan application.

    OBC Loan Against Property News - Apr 2021
    • 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.
    • 2019-07-11 : OBC retail loans to get cheaper, lender slashes its MCLR rates by 5-10 bps across various tenures
      The retail loans offered by Oriental Bank of Commerce (OBC) will get cheaper now as the lender has reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 to 10 basis points across various tenors with immediate effect. The lender has reduced the one-year MCLR to 8.65% as against 8.70% earlier. While for one month and three months, the rate stands at 8.25% and 8.45% which is down by 10 basis points and 5 basis points from earlier rates. The rates are effective from July 11, 2019.
    • 2019-06-13 : Oriental Bank of Commerce revises one-year MCLR by five bps
      Oriental Bank of Commerce (OBC) has cut its Marginal Cost of Funds Based Lending Rate (MCLR) across all loan tenure for June. The move is supposed to make customer loans like home, auto, and personal loans cheaper. For a one-year tenor loan by five basis points to 8.70% from 8.75% earlier. For one-month tenor, the MCLR now stands at 8.35% which is down by ten bps from the earlier rate. While for six-month tenor, the new MCLR stands at 8.60% from 8.70%, down by ten bps. The revised rates are effective from June 11, 2019.
    • 2019-06-12 : Oriental Bank of Commerce revises MCLR rates across loan tenures
      Oriental Bank of Commerce (OBC) has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenure for June. Now the retail loans, including home loans and mortgage loans, would become cheaper. Now for overnight and one month, the rate stands at 8.30% and 8.35% respectively. For 3 months, the rate has been revised to 8.50%. While for 1 year, the rate stands at 8.70%. The revised rates are effective from June 11, 2019.
    *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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