Minimum lending rate
State-owned Oriental Bank of Commerce (OBC) today cut home loan rate by 0.5 percent to 10.25 percent. The bank has reduced the interest rates on home loans of above Rs 75 lakh by 0.5 percent from 10.75 percent to 10.25 percent, OBC said in a statement. Now, all home loans irrespective of loan amount are [...] Continue Reading »
New Delhi- Oriental Bank of Commerce has slightly reduced interest rate on home loans of up to Rs 30 lakh by 0.1 percent. Home loans will now be available 10.40 percent with an EMI of as low as Rs 937 per lakh. The state owned bank has announced this offer as a new year gift [...] Continue Reading »
Cost of borrowing has gone up, as a consequence sectors sensitive to interest rates are likely to be affected relatively more than others. To tame inflationary pressure, the Reserve Bank has hiked key policy rates 11 times since March 2010 by a cumulative 325 basis points. This led to a rise in borrowing cost which [...] Continue Reading »
