According to a recent press report Oriental Bank of Commerce has announced 0.50 per cent concession in the interest rates for this festival season.
Reports said that usually the customers would like to get some property during the festival season and the bank has planned to make use of these seasons and introduce new attractive offers. It said that the hike in the interest rates by the RBI has an impact on the Home loan and vehicle loans and so the bank has reduced the interest rates for those loans to attract more customers in this festival season.
Additionally the bank has offered 50 percent reduction in the processing fee for these loans; the oriental bank also provides life insurance cover on their home loans.
Reports said that the interest rates vary according to the amount and tenure, say for 30 lakhs ROI 10.75 percent for 5 years and for car/vehicle loans up to 3 years the ROI is 12.25 percent.
To know more about the festival offers the customers can call to their toll free number, additionally they can visit the Website www.obcindia.co.in.
The OBC along with SBI has introduced the credit cards, and it is going to focus more on the urban and semi-urban areas. The card is having EMV chip it provides security for the customers both in India and abroad.