Oriental Bank of Commerce to offer cheaper loans to MSME and priority sector
By Vaibhav Aggarwal
Jun 25, 2012
Print    Email    RSS   
Public sector lender, Oriental Bank of Commerce has announced a cut in interest rates on advances made to agricultural sector and micro small and medium enterprise (MSME). The bank would be offering loans at 1.5-2.0% lower than existing rates.

Mr. SL Bansal,Chairman and MD of the bank also stated , the new rates would only be applicable upto a certain limit of credit availed. For MSME loans ranging from Rs. 1 crore to Rs. 50 crore, the interest charged would be 2% to 3% above the bank's base rate, which is 10.5%. currently the rates charged are 2.75% to 4% above the base rate.

The bank also reduced the rates on agri-loans to agri-food processing units like rice shelling, cotton ginning, loans against warehouses, and overdrafts to commission agents. Agri financing would be cheaer by 100 to 250 basis points.

The bank currently has a MSME loan book of Rs. 20,000 crore.

(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Know about Form 16
Loan upper limit increased for women
How far can new banking licenses be banked...
Bank loans that could glitter for you
Know about Personal loan against fixed...

What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive