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Everything you need to know about OBC zero balance account

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Oriental Bank of Commerce (OBC) is a public sector bank established in 1907 with a vision of welfare and better banking services. After more than 100 years of efficiently satisfying its customers, it merged with Punjab National Bank from 1st April,2020. One can easily open an account and avail the various benefits with OBC now.

OBC zero balance account

The zero balance account is a basic saving account. This account can be beneficial for people who cannot afford to open a normal bank account. This account can be opened with minimum balance and there is no restriction to keep any amount of balance in your account. This is a deposit account and can be beneficial for people from the lower strata of people who are salaried under Pradhan Mantri Jan Dhan Yojana (PMJDY).

Features of OBC zero balance account

  • No minimum balance : There is no restriction on keeping a minimum balance in your savings account. You will not be penalised for not having any balance in your account.
  • Initial deposit : One can open a bank account for only ₹10. That’s the least amount of deposit needed in a zero balance Account.
  •  No charges for fund transfer : With your zero balance bank account, you don’t have to pay any charges for any fund transfer. All your transfers can be made absolutely free of cost.
  • Free ATM card : You don’t have to pay for your ATM card anymore with an OBC zero balance Account. You can avail the facilities of using an ATM without actually paying for it
  • Free cheque book : Along with a free ATM, one can also get a free cheque book with 25 cheque leaves.
  • Free from credit restrictions : There is absolutely no restriction on the number of credits from this one account and also no problem of having a maximum balance in the account.
  • Free withdrawal : The bank offers 6 free withdrawals for a period of one month. After 6 withdrawals, ₹5 will be charged for every extra w withdrawal.
  • No internet banking : The OBC Bank has not yet permitted the usage of internet banking for zero balance accounts.
  • Complimentary passbook : A passbook is given at the time of opening a bank account without any charges. This can help to keep a track of the transactions.
  •  Special benefits by the government : People who are salaried under the PMJDY can also get additional benefits from the government through their bank accounts.

Benefits of OBC zero balance account

  • Save money by depositing it into your account as well as earn interest from your money.
  • With a zero bank account, you can also issue cheques for payment. There’s no restriction for that.
  • Debit cards are issued for free and can be used for purchases and withdrawals.
  • People can open their accounts based on occupation, income or status
  • There is no restriction on minimum or maximum balance.

Eligibility to open a zero balance Account with OBC

  • Nationality : The owner of the account must be a residential indian.
  • Occupation : Salaried under Pradhan Mantri Jan Dhan Yojana, Self-employed.
  • Must have an identity proof and an address proof
  • Issued to beneficiaries of social security schemes of the Indian government
  • BPL beneficiaries can avail this benefit.

How to open a zero balance Account?

 

  1.  Visit your nearest branch of OBC Bank (or Punjab National Bank).
  2. Enquire about the zero balance Account
  3. The concerned facility will hand out a bank account detail form.
  4. Fill it duly, attach the attested copies of your identity and residential proof.
  5. Submit the form with your signature
  6. You might need to make a deposit of ₹10

After verification, your account will be shortly opened.

Don’t have a bank account yet ? Visit OBC and with bare minimum balance open a zero balance account and enjoy the amazing banking services.

OBC Mortgage Loan: Features, Advantages, Eligibility Criteria and Interest Rate

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Oriental Bank of Commerce (OBC), established on 19th February,1943 is a nationalised bank. It was created to provide enhanced banking financial services. From 1st April,2020 OBC Bank has merged with Punjab National Bank (PNB). The Oriental Bank of Commerce offers a variety of services to its customers ranging from banking services to insurance policies and lending loans. It’s headquarter is located in Gurgaon, Haryana.

OBC Mortgage Loan: Loan Against Property

OBC loan against property

Your property is your biggest and your most valued asset. Raising a loan against your property, solves all sorts of monetary problems. You can use your property, your own land to borrow money without having to sell it. The Loan against property is also known as “Home equity loans”.

OBC is one of the most trustworthy centralised banks and gives you a desired loan against your property. Obtaining a loan from OBC is a cakewalk. It is easy, swift and simple. The loans are offered at an affordable price and are made available to everyone. Individuals can avail loans upto 60% value of their property.

Features of OBC Mortgage Loan

Loan Amount: Borrower can take a loan upto ₹10 crores, from the bank against their property. 60% value of the property is offered by OBC Bank for any land.

Interest charged: The Bank charges interest rates upto 10.60% which makes the loans affordable and easily accessible.

Purpose: OBC aims to give monetary support to individuals going through a financially tough time by providing loans against their property. It accepts both commercial and residential property.

Repayment of loans: The repayment of loans is no more an uphill battle. It is made easier by giving the individuals the choice to pay their loan in EMI amounts in their selected time period.

Loan clearance: With OBC banks, the loans get approved within 3 days of applying for it which makes it more convenient to get loans. There are no extra charges in getting a loan.

Overdraft: An overdraft option is offered by OBC Bank for loan against property, sometimes also known as OBC Loan against property overdraft. This way an individual has to pay for only the amount of loan that they have used.

Processing charges: 0.5% + GST is charged for processing of the loan amount.

Comfortable services: The Bank offers doorstep facilities and services, making the banking experience of a customer satisfactory.

How to apply for OBC Mortgage Loan? 

The individual can apply for OBC Loan against Property either online or offline:

Visit a nearby OBC (PNB now) branch and enquire about the loan and the interest rates for property. Respected bank staff from the loan department will help you understand the loan process better and guide you through the entire procedure.

Apply online by visiting the official site of OBC. Browse the loan section and search for loans against property. Fill the application form and submit it. A bank staff will soon get in touch with you for the further process.

Eligibility for OBC loan against property

Employment: Self-employed or salaried individuals can avail this loan.

Age: 18-65 years.

Documents required:

  • Salaried people: Application form, Proof of identity, Proof of residence, Bank statement, Salary statement, Passport size photo of the candidate, and The property document photocopies.
  • Self-employed people: Application form, financial statements for the past 3 years, Proof of residence, Proof of identity, Bank Statement, and The property document photocopies.

Advantages of OBC Mortgage Loan

OBC Mortgage Loan

Lower Interest rates: OBC offers attractive rates of interest to facilitate the purpose of the individuals. One can easily access loans without worrying about high burdening interest rates.

Long tenures: The Bank gives the individuals the opportunity to choose the time period for the repayment of loans. Longer tenure period implies lesser EMI payments and vice versa.

Uncomplicated process: Getting a loan from OBC is a simple and easy process. The complications are almost nil.

Quick allocation of loans: It takes only 3 days to pass the loans after filing the important documents.

Pre-closing facility: The customer can close its home loan account before the tenure period if they don’t need it anymore.

If you are looking for a loan with very less interest, visit your nearest Oriental bank of Commerce. OBC mortgage loan is the best option for you.

Let us know under comments, if you have any questions.

OBC e-mudra loan: Definition, How to apply, Eligibility, Loan Types, Interest and Tenure

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Oriental Bank of Commerce (OBC) is a public sector bank established in 1943. In April 2020, it merged with Punjab National Bank (PNB). It’s main purpose is to provide quality banking services that aim at customer satisfaction. It offers a wide range of services and is widespread all over the country. Punjab National Bank became the second largest bank after its merge with OBC.

OBC e-mudra loan

What is a e-MUDRA Loan ?

Mudra loan offer is an initiative by the Indian Government. This scheme offers upto ₹10 lakhs loan to individuals without expecting any collateral security. Micro Units Development and Refinance Agency (MUDRA) is a scheme under Pradhan Mantri MUDRA Yojana (PMMY) which was launched in 2015. E-mudra loan refers to applying for a MUDRA Loan online through the bank website.

How to apply for MUDRA Loan in OBC?

This loan is given to new and old businesses to start, grow, develop or expand the same. Follow the given instructions to get an online MUDRA Loan :

  1. Visit the official site of dialabank.com (a leading partner of OBC Bank).
  2. On the official site, browse the loan section.
  3. Find the MUDRA Loan option and click on the same.
  4. Check the eligibility for getting the loan amount.
  5. Fill the application form for the loan.

After filling the important details, a bank staff will soon get in touch with you regarding the further process.

Why are OBC e-Mudra loans offered?

The OBC Bank offers MUDRA Loan for various purposes :

  • Vehicle : Loans are provided for purchase of vehicles used for consumer satisfaction.

Eg: Trucks for transportation of goods, auto-rickshaw, 3-wheelers, etc.

  • Social or personal service: Offering social or personal services through gyms, salons, parlours, medical shops, stationery, boutiques, etc. are encouraged via these loans
  • Food making sector : Making various food products including jam, butter, pickles, bread, biscuit, sweets, junk foods,etc are also offered on loan. The small vendors selling food items can also avail these loans.
  • Textiles: Khadi activity, handloom, embroidery, dyeing, painting, knitting, stitching, designing, furnishing, accessorizing,etc. are textile activities and are eligible for taking loans.
  • Agriculture: Poultry, fishing, agro-process, beehiving and other such agricultural activities are also supported by Mudra loan.

MUDRA loan by OBC: Loan Types, Rate of Interest and Tenure

OBC has always aimed to excel in providing customer satisfaction. OBC offers an interest rate of 11.2% – 12.95%. The loan is offered for a tenure of 1-5 years and OBC allows it’s customers a tenure of 3-5 years for repayment of loan.

The MUDRA scheme is divided into three parts:

  • SHISHU Loan: This scheme offers loan upto ₹50000. This encourages start-ups, establishment of business and new shops. This can be availed at MUDRA Shishu Loan Scheme.
  • KISHOR Loan: This scheme offers loans from ₹50000 – ₹500000. This loan is given for growing or developing business models. This loan is available at MUDRA KISHOR Loan Scheme.
  • TARUN Loan: This scheme offers loans from ₹500000 – ₹1000000. This type of loan is given for expanding or branching out businesses. The same is available at MUDRA TARUN Loan Scheme.

Eligibility for MUDRA Loan

  • The candidate must generate a minimum revenue to borrow a loan.
  • The loan can be given to any shopkeeper, vendor, trader, business enterprise, manufacturing units, etc.
  • Age : 18-65 years old can avail this loan
  • The candidate must have a good credit history.
  • To avail the loan, the customer must not have any criminal records.
  • Documents required :
  1. A self formed business plan
  2. A filled application form
  3. 2 passport size photos
  4. Any proof of identity : Aadhar card/Pan card
  5. Proof of business : Bank Statement/financial reports
  6. Income statement
  7. Income tax returns statement

Grow your business with e-MUDRA loans. Let us know under comments if you have any more questions related to OBC e-mudra loan. 

OBC Kisan Credit Card (KCC) loan: What is KCC, Eligibility Criteria, Loan Application Process

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A kisan credit card is an initiative by the Indian Government and provided by the Oriental Bank of Commerce (OBC) to give financial assistance to the farmers. The scheme was launched in 1998 with an aim to eliminate the financial crisis faced by the farmers and to solve the problem of debt faced by them. This was initiated by the National Bank for Agriculture and Rural Development (NABARD). The kisan credit card rescues farmers from their burden and makes their lives easier.

Who are eligible to get the OBC KCC Card?

  • The Kisan Credit Card can be provided to farmers who are owners or cultivators of agricultural land.
  •  It can also be issued to a self-help group of farmers.
  • Tenant farmers can avail this card
  • Fishermen who have agricultural business can get this card.
  • Dairy farmers can get this credit card.

 The following documents are to be produced for eligibility

  • The candidate needs to fill an application or form provided by the Bank in order to avail the facility.
  • An address proof is to be submitted (Aadhar card, PAN card)
  • A proof of address like voter card or Aadhar card is to be submitted.

The Kisan Credit Card is offered by various banks such as State Bank of India(SBI), Bank of India and Axis Banks.

How to apply for OBC Kisan Credit Card?

The applicant or farmer can visit a nearby branch of an Oriental Bank of Commence bank. They can enquire about the card and the bank staff will guide them with the application form and further details. With proper documents and if eligible, the farmer can avail the OBC Kisan Credit Card.

Alternately, you can visit the official site of the OBC bank (now Punjab National Bank)  Look for a Kisan credit card and download the application form. Duly fill the application form and submit it to your nearest bank branch. The credit card will be dispatched and sent to you after proper inspection.

Can you get Loan on Kisan credit card From OBC?

  • Farmers are offered Loans at low interest to enhance their banking experience. Furthermore they following features define loan on KCC.
  • There is no limit on the loan that can be borrowed using this credit card. But the credit history of a farmer is also kept in mind while giving out a loan.
  • The farmers have to provide some security against a loan. They can’t take a loan without giving the bank some sort of assurance. The security provided can range from crops, good and services, or their agricultural land.
  • Rate of interest on the loans availed are really less. They range from 2.25% to 3.50%.
  • The farmers can avail loan upto 3 lakhs under this scheme.
  • The repayment of loans are made easier by setting the time for repayment around harvesting or marketing period for the crop.

Like any other bank, you can opt for OBC Kisan Credit Card Loan. For that, you will need to visit Punjab National Bank and apply for one.

What are the Benefits of KCC?

  1. The rate of interest offered by the banks for Kisan credit cards are attractive and low. They are easily affordable.
  2. Distribution of loans and money to farmers has been easier since then. The lending and sending money through a credit card has encouraged more farmers to use this card.
  3. Repayment of loans is easy now and can be done without any complications.
  4. The credit limit for an account can be increased based on income or special request.
  5. The Kisan Credit Yojna also provides insurance against damage of crops which ensures that the farmers don’t go into debts.

Should You take a OBC KCC Loan?

You should definitely consider taking a OBC KCC loan if you need one. As per this Central Government scheme, you are given a loan at a very small interest. Apply for OBC KCC loan today.

UCO Bank Share Price – Everything You Needs to Know.

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You must come across this article looking for information about UCO Bank Share Price. Luckily, you are in the right place. UCO Bank, formerly known as United Commercial Bank was launched in 1943, and the headquarter of this bank is located in Kolkata, India. It is one of the famous government-owned commercial banks in India.

Honestly, during the year 2020-21 the total business of this bank was around 3.24 Lakhs Crore. All are under observation by the Ministry of Finance. There is no doubt that UCO Bank is doing great in terms of providing banking services such as UCO Net Banking to customers. 

But, in this article, all we gonna talk about is the UCO Bank Share Price. We will be adding all the related and possible information in this article that will help the people deciding the stocks. Let’s have a look.

UCO Bank Share Price 

The current share price of the stock is around Rs 13.70. There is no doubt. It is under the declining factors but soon it gonna rise above the market. It all depends on the circumstances happening in the bank and the stock or share price is depend on many things.

UCO Bank Share Price

It is not possible to predict a perfect future, but recently UCO Bank raises Rs 3000 in FY21 to Shareholders’ stacks. Let’s have a piece of deeper information.

UCO Bank raises Rs 3000 in FY21 to Shareholders’ stacks

Recently, the state-owned UCO Bank has confirmed officially that it will raise Rs 3000 crore in the year 2020-21 during the financial crisis through various modes. However, it is subject to requisite approval by the bank.

The funds will be raised through various modes like follow on public offer (FPO), qualified institutional placement (QIP), preferential issue, etc.

For instance, the board of directors (BOD) of this bank decided to approve the 3000 Rs crore stacks in the market on Thursday, 20 July 2020.

This drastically affected the share price of UCO Bank. The previously closed shares of UCO Bank were sold at around 14.15 Rs.

What’s next?

If you are holding any of your stocks in UCO Bank share. Then, we will generally suggest you wait until the UCO Bank share price goes up again.

We cannot predict anything, but the current pandemic will drastically affect everything including the share prices of companies and banks. Thus, it is better to have patience and wait until the market gets up. 

Official Website: https://www.ucobank.com

Bottom Line

Here we come at the end. There is no doubt. UCO Bank, formerly known as United Commercial Bank is one of the popular and formerly known government banks in India. This bank is doing great in terms of providing services to its customers and employees.

However, apart from the praises. This article is only added to provide some live information about UCO Bank Share Price. For instance, we have added everything that you need to know about it. We hope it helps. If there is anything else to ask? Do not hesitate to ask us in the comments section.

SBI Rewardz – How to Earn SBI Credit Card Reward Points?

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The State Bank of India is one of the best government-owned banks in India. This bank is having more branches than any other bank. Honestly, the State Bank of India is having a lot to offer its customers. In this article, we are going to talk about SBI Rewardz Points.

SBI has a lot to offers its customers. The State Bank of India offers reward points to every credit card user. But, it is essential to choose the right credit card to earn maximum reward points. For instance, we are adding this article to let people know about the SBI Rewardz points and a guide about redemption.

Let’s have a look in depth.

How to Earn SBI Credit Card Reward Points?

You can earn maximum reward points by spending at retail stores and online payments. You can get the most out of your rupee spends in online stores and retail payments. You can exchange the reward points for various merchandise and cash.

SBI Rewardz

However, the reward points depending on the credit card you choose. Thus, one needs to complete the application and choose the credit card wisely. For instance, a normal savings credit card will give you 2 reward points for every 100 Rs transaction. It depends on the credit card and how often they change the reward points facility for the customers. 

Generally, you can apply for a savings credit card and earn 2 points for every 100 rs spent on offline transactions and 4 points for every 100 rs spent on online transactions. This may vary on various credit cards.

Transactions are not valid for reward points –

  • E-Wallet loading transactions
  • Cash withdrawal
  • Balance transfer
  • Disputed transactions
  • Purchases at petrol pumps or service stations
  • Encash or Dial-a-draft facility

How to Redeem SBI Rewardz Points?

You can redeem your SBI Rewardz points of credit card using the internet banking option. There is nothing difficult in this process. You only have to log in to the net banking portal. For instance, you can follow the steps that are given below.

  • First, one needs to visit the online portal of SBI Bank. You can visit by clicking here.
  • After that, you need to login into the internet banking portal. Just enter the customer id and password to continue.
  • After that, just select the credit card option from the dashboard.
  • You now have to choose the credit card and select the reward points option.
  • After that, check out how many reward points you are having.
  • You now have to redeem it according to the convenience.
  • You can redeem it for various options available there.
  • Just choose and redeem the SBI Rewardz Points.

You may also like to read, SBI Net Banking – A Reliable and Smart Banking Experience

Conclusion

Here we come at the end. The State Bank of India offers reward points to every credit card user. You can apply for the SBI Credit Card online and choose various options. 

Anyway, we are adding this article to let people know about the SBI Rewardz points. We have added every information that one needs to know about. If there is anything else to ask? You can always ask us in the comments section.