Oriental Bank of Commerce (OBC) is one bank where you can get a variety of Fixed Deposit (FD) options and great interest rates. The main advantage that this bank offers when compared to others is their diverse range of deposit options.
FD rates can be changed at the bank’s discretion with changes in market rate cycles. This can make it hard for depositors to ascertain the latest rates on offer from the bank and to choose the most beneficial scheme. OBC lets customers deposit savings and extra funds for varying tenures which can be for very short terms to medium, and long terms depending on individual requirements.
The below table lets customers view the latest rates offered by the bank. All changes made by the bank to any of its FD schemes is captured here on a real-time basis.The updated list of OBC Bank FD Rates, for Regular and Senior Citizen, is listed below
| Tenure | Regular FD Rate (per annum) | Senior Citizen FD Rate(per annum) |
|---|---|---|
| 7 days to 15 days | 4.75% | 5.25% |
| 15 days to 1 month | 4.75% | 5.25% |
| Above 1 month to 45 days | 5.00% | 5.50% |
| Above 45 days to 3 months | 5.25% | 5.75% |
| Above 3 months to 6 months | 5.50% | 6.00% |
| 6 months to 9 months | 5.75% | 6.25% |
| 9 months to 12 months | 6.00% | 6.50% |
| 12 months to 24 months | 6.50% | 7.00% |
| 24 months to 36 months | 6.50% | 7.00% |
| 36 months to 60 months | 6.50% | 7.00% |
| 60 months to 120 months | 6.50% | 7.00% |
*The OBC Fixed Deposit rates tend to vary at the discretion of the bank. The rates of interest given here are valid as of 10 January 2020.
| Tenure bracket | Deposit of Rs. 2 crore to Rs. 10 crore (p.a) | Deposit of above Rs. 10 crore (p.a) |
|---|---|---|
| 7 days to 14 days | 4.25% | 4.25% |
| 15 days to 1 month | 4.25% | 4.25% |
| Above 1 month to 45 days | 4.50% | 4.50% |
| Above 45 days to 3 months | 4.50% | 4.50% |
| Above 3 months to 6 months | 5.00% | 5.00% |
| 6 months to 9 months | 5.50% | 5.50% |
| 9 months to 12 months | 5.75% | 5.75% |
| 12 months to 24 months | 6.00% | 6.00% |
| 24 months to 36 months | 5.75% | 5.75% |
| 36 months to 60 months | 5.75% | 5.75% |
| 60 months to 120 months | 5.75% | 5.75% |
*The OBC Fixed Deposit rates tend to vary at the discretion of the bank. The rates of interest given here are valid as of 10 January 2020.
The interest rates for Oriental Bank of Commerce’s fixed deposits under Rs 1 crore have witnessed a cut. The public sector lender in a statement said the rates across maturities will now be from to 0.25%, with effect from Monday March 28, 2016.
For maturities with tenures 31 days to 45 days, the bank has slashed interest rate from 6% to 5.5% for deposits less than Rs 1 crore. In a similar way, for maturity tenures 46 days to 90 days maturity, interest rate is cut by 0.5% to 6%. The new interest rate for maturities 91 days to 179 days has been slashed by 0.5% to 6.25%.
Maturities with tenure one year to less than two years, have the new interest rate at 7.5% from 7.75%; tenures two years to less than three years are now available at 7.25%. Maturities with three years to less than five years term is 7.25%; for maturities with terms ranging from five years to 10 years the current interest rate applicable will be 7.25%.
25 March 2016
Oriental Bank of Commerce (OBC), a public sector bank cut its base rate, or minimum rate, by 0.1%. At the current rate of 9.90%, the EMIs will be lower for borrowers. The slashed base rate from 10 percent to 9.90% came into effect from August 17, 2015.
The bank has also cut the interest rate on fixed deposits by 0.25% which will be applicable on select maturities. The interest rates on term deposits between 91 days to 10 years shall also be reduced by 0.25 % which will be effective from October 5, 2015.
The slashed interest rate cuts are a result of the RBI revising its benchmark repo (short-term lending) rate by 0.50% in its 4th bimonthly monetary policy review.
9 October, 2015
Oriental Bank of Commerce reduced deposit rates for select maturities by 0.25 percent. The change will be with effect from August 5, 2015. The bank has reduced the deposit rates by 0.25 percent to 7 percent for maturities between 91 to 179 days. For deposits maturing in 270 days to less than a year, the interest rate will be 7.5 percent. Oriental Bank of Commerce’s shares closed at Rs.182.15 on BSE, it was up by 4.68 percent.
4 August 2015
State owned lender Oriental Bank of Commerce on Friday cut base rates on Fixed Deposits. Oriental Bank of Commerce reduced interest rate on fixed deposits by up to 0.25% on selected maturities. The new rates will be effective from May 15th 2015. The rate cut comes after RBI’s major rate cuts.
11 May 2015
Public sector banks have apparently begun acting on cues from the country’s largest bank, the State Bank of India.
Oriental Bank of Commerce, a leading public bank, has reduced short-term rates on retail deposits. The cut is specific to its deposit schemes of 46 days to 90 days. The interest rate for this product now stands at 7.5%, signifying a 0.50% reduction from the previous rate of 8.00%. Additionally, a 0.25% rate cut has been effected on its deposit scheme of 91 days to 179 days for amounts up to Rs.1 crore The rate now stands at 8.25%.
Credit growth is at an all-time low over the last decade causing banks to reassess their interest payout structures.
24 October 2014
Responding to cues from SBI, the country’s leading public bank, PNB cut rates on its term bulk deposits for periods up to one year. This got the ball rolling for other PSUs, who were expected to cut deposit rates following SBI’s measure to deal with excess liquidity and poor credit uptake.
The next big PSU bank to go SBI and PNB’s way is OBC who effected a 0.50% reduction on short-term retail deposit schemes of 46 - 90 days. The new rate for this tenor stands at 7.5%. Deposit holdings for 91 - 179 days saw a similar reduction from 8.50% to 8.25% for amounts below Rs.1 crore.
Punjab National Bank brought down rates by 0.25% from 7.50% to 7.25% for holdings between 1 - 3 months and from 8.75% to 8.50% for holdings between 91 days - 1 year.
PNB’s retail deposit rates remain unchanged, offering higher returns than SBI whose rates for terms above 1 year was reduced to 8.75%..
24 October 2014
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