Oriental Bank of Commerce provides its customers with different kinds of savings accounts. You can choose any type of account according to the requirements and have the maximum advantages from your savings due to the lucrative interest rates offered.
1. Basic Savings Bank Deposit Account
Any eligible person who can have a bank account but cannot afford to maintain the minimum balance in his/her account, can go for this account. The customers are provided with nomination facility and an ATM card free of cost. But the facility of net banking cannot be availed by them.
2. Diamond Saving Deposit Account
This is a popular account among the customers of OBC. They get multi-city cheque books (personalised) and an ATM card (no renewal charges) for free. A concession of 25% is given on the charges for renting a locker.
3. Platinum Saving Deposit Account
Personalised multi-city cheque books and ATM card (no renewal charges) are issued to the customers for free. In case the customer maintains an Average Quarterly Balance (AQB), then a personal accident insurance cover worth ten lakh rupees is provided to him/her free. Customers also get flat 50% discount on renting a locker.
4. Oriental Double Deposit Scheme
In this scheme, different deposit tenures are offered for customers of each category.
The deposit tenures are:
OBC Platinum Saving Deposit Account and OBC Diamond Saving Deposit Account offer interest rate payable at quarterly rests.
The rates of interest offered by Oriental Double Deposit Scheme are between 8.75% and 10.25% per annum. The category of the customer is considered here and the rates differ accordingly.
Requirements for Minimum Balance
There are different requirements of minimum balance for different savings accounts in terms of type and deposit tenure etc. These are as follows:
|Savings Account Type||Minimum Balance to be maintained|
|Basic Savings Bank Deposit Account||None|
|Oriental Double Deposit Scheme||1000 Rs.|
|Platinum Saving Deposit Account||5 lakh Rs.(AQB)|
|Diamond Saving Deposit Account||1 lakh Rs. (AQB)|
Below given entities are eligible for opening an OBC Savings Account as per the KYC guidelines:
Individuals (singly or jointly), members of Hindu Undivided Families (HUFs), Trusts, Associations, societies and Clubs.