30 Years loan provided by Oriental Bank. Is it really feasible?

POSTED BY wishy ON January 31, 2014 3:04 pm ONE COMMENT

I saw advertisement today on CNBC that Oriental Bank Of Commerce offers Home Loan upto 30 Years (360 Months). I have not spoken to Bank, but I went to their website, buy couldn’t get enough details except the following :

Repayment Period

For Home Loan -Upto  360 months, including the moratorium period of 18 months subject to age of dwelling unit

Age of swelling unit less than 10 Years -Maximum 30 Years

Age of dwelling Unit Older than 10 Years -Maximum 25 Years

For Home Furnishing Loan-Maximum 120 months

My query is –

1. What is “Swelling Unit” here.

2. Can you plz also let me know If you have any information on necessary “Terms and Condition” on the 30 Years tenure. Is it really possible to get 30 Years home loan??

Many Thanks!

– wishy

One reply on this article “30 Years loan provided by Oriental Bank. Is it really feasible?”

  1. ashalanshu says:
    January 31, 2014 at 4:14 pm

    Dear Wishy, yes almost all PSU banks offer max. term of home loan as 30Y or 360 months.

    Interestingly in the above info shared by you, there is a typo error and S is typed in place of D. Thus making it swelling unit. 🙂

    Thanks

    Ashal

    Reply

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