State-owned Oriental Bank of Commerce (OBC) has reduced interest rate on education loans by up to 100 bps.
Now, 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 50 bps, he said. Interest rate on education loan up to Rs 4 lakh would be 13 per cent. The maximum reduction of 100 bps is on education loans above Rs 7.5 lakh.
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