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Lower rate for GTB customers
NEW DELHI,
AUG. 23.
In a move that could provide succour to existing customers of troubled Global Trust Bank, its acquirer Oriental Bank of Commerce today said lending rates would eventually come down in line with the PSU bank.
"Lending rate of GTB was higher than the market average. In order to retain and rope in more customers, we will bring it (GTB rates) down to the OBC rate level," OBC Chairman, B. D. Narang, told PTI.
OBC's benchmark prime lending rate is at about 11 per cent while it's floating home rate is at 7.5 per cent and 8 per cent for fixed rate for a five-year maturity.
He also said interests of GTB depositors would be fully taken care of by OBC.
— PTI
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