Oriental Bank of Commerce offers quite decent interest rates for fixed deposits. Starting from the highest interest rate it gives 6.75 percent flat for any period between 1 to 10 years (certainly on maturity). Coming down from this period, it gives 6.50 percent interest rate for a period over 9 months and 8 percent from 6-9 months.
Below this period, the rates drop significantly and therefore it would be unwise on your part to invest for any period before 6 months, the lowest period being 7-14 days. Check out short table for OBC interest rates for yearly interval.
For sum of money over one crore or even more than 5 crore (for which interest rates are exactly same), the interest rates are different than below-one-crore amount.
Also Read: Federal bank Fixed Deposit Interest rates
The variation lies with the period up to 45 days i.e. 7-14 days, 15-30 days and 31-45 days in the terms that for these periods of time, the interest rate is more for above-one-crore amount than below-one-crore investment. For the amount below 1 crore, OBC fixed deposit interest rates are given below.
Besides these periods, the Oriental Bank of Commerce interest rates are same for all the three categories of investment – below-one-crore, above-one-crore and above 5 crore investments. An extra half percent interest is always there for senior citizens but it is not for amount over one crore. Below rates are effective from 18 November, 2016.
Rate of interest rate on obc fixed deposits:
|Time Period||Interest Rate For Amount Below 1 Crore (% p.a.)||Interest Rate For Amount Above 1 Crore (% p.a.)|
|7 – 14 Days||4.00||4.00|
|15 – 30 Days||4.00||4.00|
|31 – 45 Days||5.00||4.00|
|46 – 60 Days||5.50||4.50|
|61 – 90 Days||5.50||4.50|
|91 Days – 180 Days||6.00||5.01|
|181 Days – 270 days||6.50||5.21|
|271 Days – 1 year||6.75||5.21|
|1 Year – 2 Years||7.00||5.31|
|2 Years – 3 Years||6.75||5.31|
|3 Years – 5 Years||6.50||5.31|
|5 Years – 10 Years||6.75|
OBC NRE Fixed Deposit Interest Rates:
|Maturity Time||Amount below 1 crore|
| Amount above 1 crore|
Table Updated: 19 January, 2017
Maturity value calculator
- Additional .50% interest rate payable to Senior Citizen for Deposit below 1 crore only.
- Additional interest rates are not applicable for NRO deposits.
Here is official link to get more details – https://www.obcindia.co.in/obcnew/site/inner.aspx?status=R1&menu_id=13