Oriental Bank of Commerce on Wednesday revised lending rates on two-wheeler loans, bringing them on par with interest rates on car loans.
For repayment period of less than three years, two-wheeler loans will now be available at 10.75 per cent a year.
The lending rate has been pegged at 11 per cent a year for two-wheeler loans where repayment period is beyond three years, S.L.Bansal, Chairman & Managing Director, OBC, told
OBC has also made a 25 basis point cut in interest rate on personal and consumer durable loans from 12.75 per cent to 12.50 per cent for Government employees.
For others, the lending rate has been reduced from 13.75 per cent to 13.50 per cent.
In the case of commercial financing of four-wheelers (taxis), the lending rate has been reduced from 12.25 per cent to 12 per cent.