Oriental Bank of Commerce NRI Services
|A person of Indian origin may stay outside his or her country for numerous purposes like employment, study and for any other reason. These persons are called NRI or the Non Resident Indians. They may require banking services for numerous purposes like for transferring money to their family, for making remittances for business purposes and many more. In order to serve these Non Resident Indians better Oriental Bank of Commerce NRI Services were introduced. These services are offered in accordance to the lifestyle of the NRI customers. They can transfer funds, open current, savings as well as fixed deposit accounts with the bank.
Oriental Bank of Commerce NRI Interest Rates
The interest rates applicable on the Oriental Bank of Commerce NRI Term Deposit account are given in the below mentioned table.
|Maturity Period||Interest rates (%)|
|7 days to 14 days||4.00%|
|15 days to 30 days||4.50%|
|31 days to 45 days||7.00%|
|46 days to 90 days||7.00%|
|91days to 179 days||8.00%|
|180 days to 269 days||8.50%|
|270 Days to less than 1 year||8.50%|
|1 year to less than 2 year||9.00%|
|2 Years to less than 3 year||9.00%|
|3Years to less than 5 Years||9.00%|
|5 Years to 10 years||9.00%|
Senior citizens do not get any additional interest rate on the term deposits.
Following types of NRI Services is offered by Oriental Bank of Commerce
Remittances to India: OBC bank has tie ups with all the major international banks around the world. The foreign currency accounts enables the NRIs to send remittances to India in all the major currencies including Pound Sterling, US Dollar, Euro, Japanese Yen, Canadian Dollar, Australian Dollars, Singapore Dollar, Swiss Franc, Hong Kong Dollar.
Deposit Accounts: NRIs can also open Foreign Currency Account, Non Resident External Accounts and Non-Resident Ordinary Rupee Accounts with the bank.
Apart from the above mentioned services the bank also offers some special products and services that are given as follows:
- Hedging Facility.
- Loan against Bank Deposits.
- Loan against immovable properties.
- Loan against securities of shares or convertible debentures.
- PIO Card Scheme.
Oriental Bank of Commerce NRI Home Loan
The Oriental Bank of Commerce NRI Home Loan is mainly given for purchase of land, construction of new house or for renovation of existing house. For Businessmen the maximum loan limit is 40 times the gross monthly income. For salaried individual it is 60 times the gross monthly income. All the NRIs from 18 years to 60 years are eligible for the Home Loan. The home loan borrower does not need to submit any collateral security against the Home Loan.
For any sort of queries related to the Oriental Bank of Commerce NRI Services one can either browse the bank’s website or visit the nearest bank branch.