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OBC Slashes Interest Rate on Education Loan

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Oriental Bank of Commerce (OBC) has slashed rates on education loans across the board effective May 15.With the reduction, education loan up to Rs 4 lakh would be cheaper by 25 basis points, while interest rate on Rs 4-7.5 lakh loans has been reduced by 0.5%.

Interest rate on education loan up to Rs 4 lakh would now be available at 13%.The maximum reduction of 1% is on education loans above Rs 7.5 lakh. The rate has been reduced to 13%.

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