New Delhi: State-owned Oriental Bank of Commerce (OBC) Wednesday 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 available at uniform rate of 10.25 percent at bank's base rate," it said.
Last week, SBI slashed home loan rate by up to 0.15 percent and removed the slab for advances.
Home loan of any amount is now available at 10.15 percent while for women borrower the rate of interest would be 10.10 percent.
The base rate or the minimum lending rate below which the bank cannot lend is 10 percent.
The country largest lender, SBI, had also removed two home loan slabs -- under Rs 75 lakh and above Rs 75 lakh.
So as per the revised statement, the concessional 0.05 percent interest rate has been maintained for women borrowers provided she is the sole applicant or the first of the co-applicants and also the sole or the first of the co-owners of the property.
