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Oriental Bank raises deposit rates

Oriental Bank of Commerce (OBC) has increased its interest rate on fixed deposits on various maturities, with effect from Aug 20.

05 Dec 2008

Oriental Bank of Commerce (OBC) has  raised the interest rate on fixed deposits on various maturities, with effect from Aug 20. The bank has also launched a new term deposit scheme of 333 days offering interest of 10 percent per annum. Term deposits of 365 days would carry interest rate of 10.05 per cent.

For term deposits with maturities of 1 year to less than 3 years interest rate has been increased to 9.75 percent per annum. Interest on deposits of 3 years to less than 5 years now stands at 9.5 percent. Interest on deposits over 5 years and up to 10 years has been pegged at 9 per cent. Senior citizens would continue to get an additional 0.50 percent per annum on all the maturities.



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