Canara Bank, Oriental Bank of Commerce cut lending rates by up to 0.25%

interest rateThe state-owned lenders Canara Bank and Oriental Bank of Commerce (OBC) cut base rates to 10 per cent, which will lead to lower EMIs for their loan consumers.

“The bank has reduced the base rate or minimum lending by 0.20 per cent to 10 per cent for loans and advances with effect from May 11,” Canara Bank said in a statement.

OBC revised downward its base rate to 10 per cent from 10.25 per cent, effective May 15.

“The bank has reduced interest rate on fixed deposit by up to 0.25 per cent on select maturities,” OBC said in a statement.

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.