public sector lender Oriental Bank of Commerce may cut interest rates for deposits of one year by 50 basis points on Tuesday. Advertising "We will take a call on around 50 basis points cut in deposit rates tomorrow at our Assets and Liabilities Committee (Alco) meet," Oriental Bank Executive Director S C Sinha said on Monday.
State Bank of India (SBI), the country's largest public sector lender, has decided to slash the home loan rate by 5 basis points, in wake of the Reserve. the interest rates on the home loans up to Rs 30 lakh from existing 8.75% to 8.7%.. a 0.05% cut in its Marginal Cost of funds based Lending Rate (MCLR).
Bank Name. Rates of Interest. Processing. PNB Housing. 9 % – 9.15 % Fixed For 1 Years Floating After. 8.7 % – 9.6 % Fixed For 5 Years Floating After. 0.5 %.. Oriental Bank.. corporation bank slashed overnight MCLR by 0.1 per cent.
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Oriental Bank of Commerce offers quite decent interest rates for fixed deposits. Starting from the highest interest rate it gives 7.00 percent flat for any period between 1 to 10 years (certainly on maturity). Coming down from this period, it gives 6.50 percent interest rate for a period over 9 months and 8 Percent from 6-9 months.
Syndicate, OBC, Bank of India raise rate by up to 0.15% The hike follows the Reserve Bank this week raising the key lending rate by 0.25 per cent citing inflation concerns on rising oil rates globally.
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OBC slashes one-year MCLR by 5 bps to 8.70% – easyfeezy.com – OBC slashes one-year MCLR by 5 bps to 8.70% Oriental Bank of Commerce June 11 said it has cut marginal cost based lending rate for one-year tenor loan by 5 basis points to 8.70 per cent. The bank has revised the marginal cost based lending rate (MCLR) for three loan tenors with.
Your loan from OBC will be repriced periodically depending upon the tenure of the MCLR to which it is linked. OBC home loan rate is benchmarked to 1 Year MCLR Base Rate which will be repriced after 1 Year. Say, you take a loan from OBC at current 1 Year MCLR rate of 8.65% plus spread of 20 bps. So, the loan will initially be priced at 8.85%.
MCLR : New Lending Rate on Bank Loans w.e.f Apr 2016 – Details, Components & Review Last updated: June 6, 2018 | by Sreekanth Reddy 216 Comments The Reserve Bank of India has issued new guidelines for setting lending rate (on loans) by commercial banks under the name Marginal Cost of Funds based Lending Rate (MCLR) .