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OBC
reduces housing loan rates
Our Banking Bureau
 17
December 2001
Mumbai: Oriental Bank of Commerce (OBC) has reduced the
interest rates on housing loans to 11.5 per cent for loan amounts
up to Rs 10 lakh and to 12 per cent for amounts more than Rs 10
lakh. The new rates are applicable for fresh and existing loans.
 The
equated monthly installments for a loan of Rs 1 lakh with a
repayment period of 15 years will be Rs 1,160, which according to
the bank are the lowest in the industry. Besides housing loans,
OBC also provides free housing and accident insurance cover.
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