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Oriental Bank of Commerce RD Interest Rates 2020

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Oriental Bank of Commerce offer two types of recurring deposit schemes. One is Progressive Deposit General and the other is OBC Aadhaar. The interest offered by the bank on both the RD schemes are attractive.

  • Progressive Deposit General: Under this RD scheme, the minimum instalment is Rs.10. There is no cap on the maximum amount that can be deposited. Individuals are offered the facility of availing loan up to 95% of the amassed amount in the RD account. The tenures provided by the bank under this scheme range from 6 months to 10 years.
  • OBC Aadhaar: An RD account under this scheme can be opened for a period that ranges between 1 year and 10 years. The minimum monthly instalment is Rs.10 and the maximum is Rs.50,000 per month. Under this scheme as well you can avail a loan up to 95% of the amount accumulated in the RD account.

Listed below are the tenures and interest offered by Oriental Bank of Commerce when it comes to recurring deposits:

Deposit Tenure Interest rate for General Citizens (p.a.) Interest rate for Senior Citizens (p.a.)
180 days to 269 days 6.50% 7%
270 days to less than 12 months 6.50% 7%
12 months to less than 24 months 6.85% 7.35%
24 months to less than 36 months 6.75% 7.25%
36 months to less than 60 months 6.70% 7.20%
60 months to 120 months 6.75% 7.25%

*NOTE: The interest rates mentioned above are for deposits less than Rs.2 crore.

Oriental Bank of Commerce Short-Term RD Interest Rates

Short-term recurring deposits are those which have a deposit tenure that ranges between 180 days to less than 12 months. Oriental Bank of Commerce offer general citizens interest of 6.50% p.a. for investing in such RDs while senior citizens are offered 7% p.a.

Oriental Bank of Commerce Medium-Term RD Interest Rates

The interest paid by Oriental Bank of Commerce on medium-term recurring deposits is in the range of 6.70% to 6.85% p.a. Citizens who are above the age of 60 years are offered interest in the range of 7.20% to 7.35% p.a. for opening a medium-term recurring deposit. Medium term RDs are those which has a deposit tenure in the range of 12 months and 60 months.

Oriental Bank of Commerce Long Term RD Interest Rates

On long-term recurring deposits, the interest offered by Oriental Bank of Commerce to general citizens is 6.75% p.a. Senior citizens are offered additional interest of 0.50% by the bank for investing in such RDs. Deposit tenures that range from 5 years to 10 years fall under the bracket of long-term RDs.

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Oriental Bank RD Rates Reviews

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  • Oriental Bank of Commerce Recurring Deposit
    0.5 4.5/5 "Excellent!"
    I am having the recurring deposit account with the Oriental bank of commerce. Rate of interest is around 7.5%, also the response is good one. I would like to say that the minimum tenure is around four years of time. I am really happy with them till now.
    Was this review helpful? 3
    , new delhi
    Reviewed on Jun 06, 2018
  • Oriental Bank of Commerce
    Oriental Bank of Commerce Recurring Deposit
    "Excellent Services"
    0.5 5.0/5 "Blown Away!"
    My recurring deposit is with Oriental Bank of commerce. I am very happy with the services. I been using this account for the last five years. When ever I close it I get the cash within two hours. The process is simple and easy. They offer a good rate of interest too. Overall a good experience.
    Was this review helpful? 3
    , ludhiana
    Reviewed on Nov 23, 2015
  • Oriental Bank of Commerce Recurring Deposit
    "Good one"
    0.5 4.0/5 "Great!"
    I am holding a OBC RD account which is really good. The best part about this RD account is it is a joint account with my wife which is former or survivor. On line access is very much available. I can access all sort of facilitates like suvedha , payment due date, maturity amount , rate of interest etc
    Was this review helpful? 2
    , new delhi
    Reviewed on Apr 16, 2015
  • Oriental Bank of Commerce Recurring Deposit
    "Its fine"
    0.5 3.0/5 "Satisfactory"
    I had a Recurring Deposit with OBC, setting up this account was very simple. I have visited the Branch and I initiated this request. I was earning good interest rate on my RD account. I took it for a period of 6 months , I have closed it on the 5th month itself . I had no issues absolutely and after placing the request for closure with in an hourâ??s time this deposited was closed and the money was transferred back to my account.
    Was this review helpful? 9
    , hyderabad
    Reviewed on Nov 17, 2014
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