CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
Oriental Bank of Commerce is a public sector bank in India and provides a lot of products and services like retail loans, Forex, Demat, insurance, mutual funds, digital banking and much more. The customers can contact the bank for getting any information or resolving any queries that they may have regarding any of the above products and services. They can also give their feedback to the bank through the customer care service or by visiting the branch.
About Oriental Bank of Commerce Car Loan Customer Care
The customer care service of the bank is available 24x7 for providing assistance to the customers in any of their banking needs. The customers can contact the customer care in the following manner.
Customers can also contact the following numbers for department-specific queries and complaints.
Inspection and Control Department
Corporate Strategy and Planning Department
Department of IT
PR and Publicity Department
The bank also has virtual assistance facility where the customers can ask their queries to the virtual assistant IRA on a variety of topics like
Oriental Bank of Commerce provides loans for new cars and two wheelers (for commercial/ personal use) as well as used cars (for private use only). The details of the bank’s vehicle loans are mentioned hereunder.
The scheme is applicable to salaried individuals, having a minimum of 1 year of service, professionals, doctors, business entities having minimum 2 years of business, NRIs seeking a loan with eligible resident Indians, agriculturalists (depending on their repaying capacity and land holding).
The bank also requires co-applicants who are close relatives.
The bank requires a minimum gross income of Rs. 10,000 in case of loan for two wheelers and Rs. 30,000 for four wheeler loans.
The amount of loan that can be sanctioned depends upon the income/ take home pay of the applicant among various other factors.
The minimum take home pay or income is considered after all the possible deductions as well as the proposed EMIs for the purpose of calculating the quantum of loan to be disbursed. The bank also allows the income of family (close relatives) to be included to determine the said eligibility.
The maximum amount of loan that can be sanctioned in the case of used cars is Rs. 100 Lakhs.
The bank requires the customers to provide a margin of 15% of the value of the vehicle for new cars and 25% for used cars (25% of market value assessed by valuer or purchase value of the second hand car, whichever is less) and the vehicle so purchased out of the loan is deemed to be the security for the loan and subject to hypothecation. The bank also additionally may require the customers to provide for collateral security (a personal guarantee) in case the gross monthly income is less than Rs. 30,000 for two wheelers and Rs. 40,000 in case of four wheelers.
The bank offers 7 years as repayment tenure for two wheelers and for four wheelers the tenure is 100 months for loan up to Rs. 25,00,000 and 120 months if the loan is more than Rs. 25,00,000. The age limit for salaried individuals is 65 years for non-pensioners, 70 years for pensioners and no age limit for businessmen/professionals.
The repayment schedule for used cars is tabled below:
Rate of Interest –
The grievance redressal process/system of the bank is divided into four stages. The customers can contact the customer care of the bank to report on any issues or queries that they may be facing with their banking transactions or needs. Following are the details of the grievance redressal stages of the bank.
The first level of grievance redressal is the registering of the complaint with the Branch Manager by duly filing the complaint form available at the website of the bank. The customers can also contact the customer care of the bank for any assistance in this regard.
The next level of grievance redressal is the escalation of the complaint or issue to the Assistant General Manager at the complaint cell. The customers can escalate to this level if the response received at the primary level is not satisfactory or is not received in due time.
The customers can contact the Assistant General Manager in the following manner.
Plot No. 5,
Gurgaon – 122001
The customers can further escalate their grievances to the General Manager of the bank in the following manner.
If the customers receive no response from any of the above channels within a month of raising the complaint/grievance or if the response is not satisfactory, the customers can take the said complaint to the Banking Ombudsman appointed by the RBI.
Oriental Bank of Commerce is a public sector bank having its headquarters in Gurgaon, Haryana. The bank has a huge network of 2390 branches and 2625 ATMs across the country.
1. What is the rate of interest applicable for used cars?
The rate of interest applicable for used cars is 1 year MCLR+3.50%.
2. What are the processing charges for vehicle loans?
The processing charges
3. Does the bank charge any prepayment penalty?
The bank has no prepayment charges applicable on the vehicle loans.
4. What is the reimbursement of finance scheme of the vehicle loans?
The customers can get the reimbursement of the finance for four wheelers that are purchased out of the own funds of the applicant from any authorised car dealer. Such reimbursement has to within 3 months of the purchase of the car and such vehicle would be considered a new car loan for the purpose of this scheme.
5. What is the minimum income limit for businessmen/ professionals?
the minimum income criterion for businessmen or professionals is the minimum cash generations that are sufficient to satisfy the proposed EMIs.
Get loans starting from 11.25% interest rate
Know how to improve credit score
FREE credit analysis for 1 year
Andhra Bank Car Loan Customer Care
Axis Bank Car Loan Customer Care
Bank Of Baroda Car Loan Customer Care
Bank Of India Car Loan Customer Care
Bank Of Maharashtra Car Loan Customer Care
Canara Bank Car Loan Customer Care
Central Bank Of India Car Loan Customer Care
Citibank Car Loan Customer Care
City Union Bank Car Loan Customer Care
Corporation Bank Car Loan Customer Care
DCB Bank Car Loan Customer Care
Deutsche Bank Car Loan Customer Care
Dhanlaxmi Bank Car Loan Customer Care
Federal Bank Car Loan Customer Care
HDFC Bank Car Loan Customer Care
HSBC Bank Car Loan Customer Care
ICICI Bank Car Loan Customer Care
IDBI Bank Car Loan Customer Care
Indian Bank Car Loan Customer Care
Indian Overseas Bank Car Loan Customer Care
IndusInd Bank Car Loan Customer Care
Jammu And Kashmir Bank Car Loan Customer Care
Karnataka Bank Car Loan Customer Care
Karur Vysya Bank Car Loan Customer Care
Kotak Mahindra Bank Car Loan Customer Care
Lakshmi Vilas Bank Car Loan Customer Care
Punjab National Bank Car Loan Customer Care
Punjab Sind Bank Car Loan Customer Care
RBL Bank Car Loan Customer Care
SBI Car Loan Customer Care
South Indian Bank Car Loan Customer Care
SVC Bank Car Loan Customer Care
Syndicate Bank Car Loan Customer Care
Tamilnad Mercantile Bank Car Loan Customer Care
UCO Bank Car Loan Customer Care
Union Bank Of India Car Loan Customer Care
YES Bank Car Loan Customer Care
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.