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Oriental
Bank launches Equity
Our Banking
Bureau
6 October 2004
 New
Delhi: Oriental
Bank of Commerce (OBC) has launched Equity, a loan to
buy IPO shares. Through this, OBC will offer a maximum
amount of Rs 10 lakh.
The
loan will be extended at nine per cent per annum. The
margin to be contributed by the customer is 40 per cent.
The
bank has said that no charge will be levied for demat
account opened for availing the loan.
 However,
a fee of Rs250 and service charges applicable will have
to be borne by the customer. The security for the loan
would be pledge of the shares to be allotted.
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