OBC REDUCES ROI ON MSME ADVANCES

·        Oriental Bank of Commerce has reduced Rates of Interest applicable to MSME sector advances (Manufacturing as well as Services) w.e.f. 01.12.2013.

·        Under Micro & Small Enterprises

A.  Reduction in Rates of Interest ranges from 25 bps to 75 bps for advances above Rs.25 lacs & upto Rs.1.00 crore

B.  Reduction in Rates of Interest ranges from 50 bps to 200 bps for advances above Rs.1.00 crore.

·        Under Medium Enterprises

A.  Reduction in Rates of Interest ranges from 25 bps to 150 bps for advances upto Rs.1.00 crore

B.  Reduction in Rates of Interest ranges from 50 bps to 150 bps for advances above Rs.1.00 crore.

·        The revised Rate of Interest shall be applicable to all the existing as well as fresh advances sanctioned to MSME under manufacturing as well as service sector.

·        With this revision,  the rates of interest now offered by Oriental Bank of Commerce to MSME advances are most competitive in the industry.

Andy

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