Oriental Bank of Commerce holds the solution for all your retail banking needs. It is providing the customers with fixed deposit schemes of different tenures which include short, mid and long-term at attractive returns. The rate of interest is subject to change according to the bank’s market conditions and liquidity requirements.
For the short-term fixed deposit, the bank offers attractive returns and allows the depositor to maintain the liquidity also.
For the tenure of 7-14 days, the rate of interest is calculated at 4% per annum, and it eventually gets increased by 0.5% to 4.5% for the holding period of fifteen days to one month. Furthermore, it gets a sudden boost of 1.5% to 6% per annum for the deposit period of 31-45 days. 6.75% per annum is the interest rate offered by the bank for the holding period of 46 days to three months. Moreover, 8% per annum is the interest levied for the holding period of 3-6 months. On the other hand, the rate remains unchanged at 8% per annum for the deposit period of 6-9 months.
For the mid-term tenure of nine months to one year, the OBC offers 8% per annum on the deposits. However, high returns can be availed for longer tenures. For the holding period of 1-2 years, 8.6% per annum is levied whereas; it is decreased to 8.25% per annum for the holding period of 2-3 years. The interest remains the same at 8.25% per annum for the deposit period of 3-5 years.
For the senior citizens of the country, the bank provides additional 0.5% for standard rates of different tenures.