Oriental Bank of Commerce offer Car and Vehicle Loans for the procurement of new vehicles like
scooters, jeeps, motorcycles and cars. The vehicles must be private vehicles meant for non-commercial
usage. The maximum ceiling for two wheelers is fixed at up to 90% of the cost of two wheeler including
registration charges, insurance and road taxes. For new car, the ceiling is up to Rs10 lakh. Bank charges
a processing fee at 0.50% of loan amount with minimum of Rs. 500/-.
| New Car | Used Car | |
| Loan Type | Term Loan | Term Loan |
| Ex-Showroom/On Road | On Road | On Road |
| Loan Amount | Maximum allowable loan amount is Rs.100 lacs | maximum loan amount -7.50 lacs |
| Tenure | Min. - 36 months. Max. - 84 months. | Min. - 12 months. Max. - 84 months. |
| Interest Rate | 10.75 % | 13.25 % |
| Time to Process Loan | 7 days | 7 days |
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