Oriental Bank of Commerce (OBC) has liberalised certain terms in its retail loans and deposit schemes as a new year gift to its customers. It has reduced the rate of interest on home loans (of up to Rs 30 Lakh) by 10 bps. The same will now be available @10.40 per cent with an EMI as low as Rs 937 per lakh rupees. The margin for home loans above Rs. 20 lakh has been reduced to 20 per cent. For home loans below Rs 20 lakh, margin will be 15 per cent. The housing loan portfolio constitutes 45 per cent of Oriental Bank of Commerce’s retail loans. The bank has also waived the penalty on premature withdrawal on its deposit schemes for all maturities across all slabs.