Oriental Bank reduces PLR by 75 basis points to 13.25 pc

Mumbai, Nov 6 (UNI) Oriental Bank of Commerce, one of the leading PSU banks in India, has decided to reduce Prime Lending Rates (PLR) by 75 basis points with immediate effect.

Chairman and Managing Director of the bank Alok K Mishra said ''We are happy to announce a reduction in the PLR by 75 basis points to 13.25 per cent per annum with immediate effect. We have also cut the interest rates on Housing Loans upto Rs 30 lakh and interest rates on Education Loans has been brought down,'' the bank release said.

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