OBC raises fixed deposit rates by up to 0.75%

Oriental Bank of Commerce (OBC) raised fixed deposit rates by up to 0.75 per cent across select maturities on account of tight liquidity situation.

In a statement, OBC said that the bank raised interest rate on domestic term deposits maturing between 91-179 days to 8.50 per cent from 7.75 per cent up 0.75 per cent.

For deposits maturing between 270 days to less than one year interest rate has been increased by 0.25 per cent to 8.50 per cent from existing 8.25 per cent, it said.

However, 180-269 days term deposit would earn 8.50 per cent from existing 8 per cent.

The new rates would be effective from tomorrow, it added.

Read more about: oriental bank of commerce
Story first published: Thursday, July 25, 2013, 9:21 [IST]
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