Oriental Bank of Commerce (OBC) has revised its deposit rates upwards and now becomes the only PSU bank to offer interest rate as high as 9.75 per cent per annum.
The Bank has revised its interest rates from today March 4, 2014 and accordingly a deposit of 91-179 days will fetch an interest rate of 9.75 per cent. A 46-90 day deposit on the other hand would fetch an interest rate of 9.25 per cent.
If you are looking to lock money for a longer duration the interest rates offered come down gradually. A 1-3 year OBC fixed deposit will give you only 9 per cent interest rate, while for a 5-10 year deposit OBC is offering an interest rate of 8.75 per cent.
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