#1
23rd November 2016, 04:19 PM
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Home Loan By Oriental Bank Of Commerce
I want to apply for Home Loan in Oriental Bank Of Commerce so can you tell me the criteria and the limit of the loan?
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#2
23rd November 2016, 05:46 PM
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Re: Home Loan By Oriental Bank Of Commerce
Oriental Bank Of Commerce provide Home Loan to Cutomers for Purchase of land and construction of a house. Home Loan Purpose Purchase of land and construction of a house thereon. Construction of house, where in the plot/land already owned by the applicant. To buy built up / semi built up house or flat. To Extend/improve/repair, the existing house or flat. Criteria - Individuals or group of specified individuals (co-borrowers) having an assured source of regular income viz. salaried / self-employed persons, professionals, businessmen, farmers etc.(including Staff & NRIs ) Minimum age 18 years as on date of application Maximum age For salaried(with pension) & other Individuals upto 70 year For Salaried ( Non Pensionable) upto 60 years or superannuation, which is earlier Maximum Loan limit- Housing Loan ---No upper ceiling (*conditions apply). The maximum permissible Bank finance can be calculated on the basis of income of individual as well as joint borrower, as the case may be. Home furnishing Loan --Maximum Rs. 15.00 Lacs (restricted to 30% value of existing house), Margin Upto Rs. 30.00 Lacs 10% Above Rs. 30.00 Lacs & Upto Rs. 75.00 Lacs 20% Above Rs. 75.00 Lacs 25% For Home furnishing 25% of total cost of renovation/furnishing Net Take Home Income Fross Annual income minus all existing deductions including IT deduction & Proposed loan installment) with details as under: Gross Annual Income Net Take Home Upto Rs. 5 lacs 50% Above Rs. 5 Lacs to Rs. 10 Lacs 40% Above Rs. 10 Lacs 30% Customer service: 1800 180 1235 |