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OBC Loan Against Property EMI Calculator

OBC Mortgage Loan EMI 2021

Last Updated 15th Jul 2021

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

  • Use OBC mortgage loan calculator to evaluate your EMI before applying for a loan.
  • Check OBC property loan EMI for different tenures at the current rate of 10.95%
Loan Amount5 Year Loan7 Year loan10 Year loan
₹ 10 Lakh₹ 21,718₹ 17,096₹ 13,747
₹ 25 Lakh₹ 54,294₹ 42,740₹ 34,367
₹ 40 Lakh₹ 86,870₹ 68,385₹ 54,987

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.

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Loan Against Property EMI Calculator OBC

You can calculate your OBC loan against property EMI in advance to plan your expenses using a OBC mortgage loan calculator. OBC loan against property EMI calculator is an online tool that gives accurate results without hassle.

Why should you use OBC Loan Against Property EMI Calculator?

  • Calculate the EMI at Different Tenures : With OBC LAP EMI Calculator, you can compare the EMI on your loan against property with different loan tenures and loan amount. However, you must check the interest rate on OBC loan against property to calculate the EMI. As per the current rates, OBC offers the lowest EMI per lakh of ₹ 1,375 at 10.95 %
  • Compare OBC LAP EMI : You can also get a precise estimate on your loan against property compared to other banks at the same loan amount and tenure by using OBC loan EMI Calculator. On the basis of OBC Loan against property EMI, you can choose the most affordable offer.
  • Get Detailed Amortisation Schedule : OBC Loan against EMI Calculator helps you to calculate the division of total EMIs into interest and principal repayment at different periods throughout the loan tenure.
  • Calculate the Outstanding Balance : Finally, you can also use OBC EMI Calculator to calculate the remaining loan tenure for the outstanding balance at any period of the loan tenure. Thus, it can help you reduce your loan tenure by prepayment or foreclosure or to avail loan at a lower rate with balance trasnfer.

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

To calculate the EMI against OBC EMI loan against property at different rates and tenure, enter different loan amounts and tenure at the eligible interest rate on the OBC Loan against property EMI calculator. The table below shows the OBC EMI calculation at the various combinations of loan amount and years at the lowest rate of 10.95%.

OBC Loan against property EMI is calculated for different loan amounts and tenures at 10.95% interest rate

Loan Tenure
Loan Amount (Rs.)10 years15 years20 years
EMI on ₹ 15,00,000 ₹ 20,620 ₹ 17,002 ₹ 15,432
EMI on ₹ 25,00,000 ₹ 34,367 ₹ 28,336 ₹ 25,720
EMI on ₹ 40,00,000 ₹ 54,987 ₹ 45,338 ₹ 41,152
EMI on ₹ 60,00,000 ₹ 82,480 ₹ 68,008 ₹ 61,727

Factors Affecting OBC Property Loan EMI

You can calculate OBC EMI for your loan against property using an online LAP EMI Calculator, which considers 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 on loan against property. You can avail of OBC loan against property for an amount ranging between ₹ 5,00,000 to ₹ 10,00,00,000.

Interest Rate

A higher interest rate increases your OBC loan against property EMI, increasing the total cost of the loan. As per the current rates, OBC provides loan against property at rates starting at 10.95%. Before applying for a loan, you must compare LAP rates and calculate EMI online using OBC loan against property loan calculator.

Loan Tenure

Your EMI will be lower if you avail mortgage loan for a maximum tenure of 10 years, and similarly, you will have to pay a higher EMI if your tenure is shorter.

Comparison of OBC Loan Against Property EMI with other Banks

Bank Name Interest rate Loan Amount of ₹ 10 Lakh Loan Amount of ₹ 30 Lakh Loan Amount of ₹ 50 Lakh
OBC 10.95% ₹ 13,747 ₹ 41,240 ₹ 68,734
Lakshmi Vilas Bank 11.00% ₹ 13,775 ₹ 41,325 ₹ 68,875
Corporation Bank 11.35% ₹ 13,974 ₹ 41,922 ₹ 69,869
Piramal Housing Finance 11.50% ₹ 10,664 ₹ 31,993 ₹ 53,321
IDFC First Bank 11.80% ₹ 11,873 ₹ 35,620 ₹ 59,367
Central Bank of India 13.75% ₹ 15,377 ₹ 46,130 ₹ 76,883
Allahabad Bank 14.15% ₹ 16,422 ₹ 49,265 ₹ 82,108

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 ₹ 20 Lakh from OBC for 10 years at an interest rate of 10.95%, the EMI calculated for this loan amount would be ₹ 27,493 and the total annual EMIs to be paid annually is ₹ 3,29,921. The OBC Loan Against Property EMI schedule for 10 years is explained below in the table –

Amortization Schedule for a Loan Against Property of ₹ 20 Lakh over the 10 years

Year Interest paid during the year Principal repaid during the year Total amount paid during the year (Interest + Principal) Outstanding Principal
2021 ₹ 1,08,219 ₹ 56,741 ₹ 1,64,961 ₹ 19,43,259
2022 ₹ 2,06,726 ₹ 1,23,196 ₹ 3,29,921 ₹ 18,20,063
2023 ₹ 1,92,538 ₹ 1,37,383 ₹ 3,29,921 ₹ 16,82,680
2024 ₹ 1,76,716 ₹ 1,53,205 ₹ 3,29,921 ₹ 15,29,474
2025 ₹ 1,59,072 ₹ 1,70,849 ₹ 3,29,921 ₹ 13,58,625
2026 ₹ 1,39,396 ₹ 1,90,526 ₹ 3,29,921 ₹ 11,68,099
2027 ₹ 1,17,453 ₹ 2,12,468 ₹ 3,29,921 ₹ 9,55,632
2028 ₹ 92,984 ₹ 2,36,937 ₹ 3,29,921 ₹ 7,18,695
2029 ₹ 65,697 ₹ 2,64,224 ₹ 3,29,921 ₹ 4,54,471
2030 ₹ 35,268 ₹ 2,94,653 ₹ 3,29,921 ₹ 1,59,818
2031 ₹ 5,143 ₹ 1,59,818 ₹ 1,64,961 ₹ 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 35.36% of your EMI has been used to repay the principal amount. This means that the remaining 64.64% of the EMI went into interest payment. Thus, you end up paying only 5.83% of the loan amount of ₹ 20 Lakh after paying 12 EMIs in the first year to OBC.

In year 10, the interest component of OBC EMI is around 5.69%, while the principal component is around 94.31%. Upto 10 years, you have cumulatively repaid 100% of your total OBC Loan Against Property.

OBC Loan Against Property EMI for ₹ 10 Lakh

The following table shows EMI on OBC loan against property for ₹ 10,00,000 for different tenures at an interest rate of 10.95%

Loan Amount Interest rate Tenure (Year) EMI
₹ 10,00,000 10.95% 5 Years ₹ 21,718
₹ 10,00,000 10.95% 10 Years ₹ 13,747
₹ 10,00,000 10.95% 12 Years ₹ 12,506
₹ 10,00,000 10.95% 10 Years ₹ 13,747

OBC Loan Against Property EMI for ₹ 25 Lakh

The following table shows OBC loan against property EMI for ₹ 25,00,000 for different tenures at an interest rate of 10.95%

Loan Amount Interest rate Tenure (Year) EMI
₹ 25,00,000 10.95% 5 Years ₹ 54,294
₹ 25,00,000 10.95% 10 Years ₹ 34,367
₹ 25,00,000 10.95% 12 Years ₹ 31,265
₹ 25,00,000 10.95% 10 Years ₹ 34,367

OBC Mortgage Loan EMI for ₹ 30 Lakh

The following table shows OBC loan against property EMI for ₹ 30,00,000 for different tenures at an interest rate of 10.95%

Loan Amount Interest rate Tenure (Year) EMI
₹ 30,00,000 10.95% 5 Years ₹ 65,152
₹ 30,00,000 10.95% 10 Years ₹ 41,240
₹ 30,00,000 10.95% 12 Years ₹ 37,518
₹ 30,00,000 10.95% 10 Years ₹ 41,240

FAQs

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 OBC 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 OBC Loan Against Property EMI change in case of prepayment?

Similar to all loans, OBC 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 EMI calculator calculate OBC Loan Against Property EMI?

OBC Loan against property emi calculator 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 ₹ 10,00,00,000, 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.

How to pay your OBC Mortgage loan EMI Online?

You can pay the OBC mortgage loan EMI by logging in to your net banking account as provided when availing of the loan using your savings account or debit/credit card. You can also visit the OBC branch to submit the cheque of your EMI.

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

To determine different EMI for different tenures, you can use a 10 lakh loan against property EMI Calculator. Consider this example for a better understanding.

Loan amount Interest rate Tenure EMI
₹ 10 Lakh 10.95% 5 years ₹ 21,718
₹ 10 Lakh 10.95% 10 years ₹ 13,747
₹ 10 Lakh 10.95% 12 years ₹ 12,506
₹ 10 Lakh 10.95% 10 years ₹ 13,747

How is OBC loan against property EMI calculated?

You can calculate OBC LAP EMI using the mathematical formula mentioned below or using an online OBC LAP EMI Calculator.

  • 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 ₹ 20 Lakh Loan against property in OBC?

To determine different Loan against property EMI OBC for different tenures, you can use a 20 lakh loan against property Calculator, as reflected in the table below:

Loan amount Interest rate Tenure EMI
₹ 20 Lakh 10.95% 5 years ₹ 43,435
₹ 20 Lakh 10.95% 10 years ₹ 27,493
₹ 20 Lakh 10.95% 12 years ₹ 25,012
₹ 20 Lakh 10.95% 10 years ₹ 27,493

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

To determine different OBC EMI for different tenures, you can use a 30 lakh loan against property EMI Calculator.

Loan amount Interest rate Tenure EMI
₹ 30 Lakh 10.95% 5 years ₹ 65,152
₹ 30 Lakh 10.95% 10 years ₹ 41,240
₹ 30 Lakh 10.95% 12 years ₹ 37,518
₹ 30 Lakh 10.95% 10 years ₹ 41,240

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

To estimate OBC EMI for different loans against property tenures, you can use a 50 lakh mortgage Calculator. The results are mentioned as follows:

Loan amount Interest rate Tenure EMI
₹ 50 Lakh 10.95% 5 years ₹ 1,08,587
₹ 50 Lakh 10.95% 10 years ₹ 68,734
₹ 50 Lakh 10.95% 12 years ₹ 62,530
₹ 50 Lakh 10.95% 10 years ₹ 68,734


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OBC Loan Against Property News - Jul 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.
  • 2020-01-10 : 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.
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