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Oriental Bank of Commerce hikes interest rate on term deposits

Oriental Bank of Commerce (OBC) hikes interest rate on their deposits for 400 days to 9.75 per cent.

27 Jun 2008

Oriental Bank of Commerce (OBC) hikes interest rate on their deposits for 400 days to 9.75 per cent.

For other depositors, the rate of interest will be 9.25 per cent.

The interest is paid quarterly. In cases where the depositors intend to withdraw on maturity the annualized return would be10.11 per cent for senior citizens and 9.57 per cent for others.

The bank charges no premature payment penalty on FDR up to Rs 5 lakh.



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