NEWS & ADVICE : FIXED DEPOSITS
Deposit rates for short term deposits increased by OBC
By Neelima Shankar
Nov 7, 2013
Print    Email    RSS   

On Friday, Oriental Bank of Commerce has increased the deposit rates for short term deposits to 50 base points. This followed after the Reserve Bank of India decided to hike the rates of the key policy.

Effective November 4, the increase in the rates were applicable. For deposits which are going to mature or have a maturity date anywhere between 180 days to a year, the rates have been increased by 50 basis points by the bank. On the other hand, the deposits which have 91-179 day maturity tenure, the interest rates are now increase by 25 basis points, which means that the rate of interest would be 8.75%. The basis point is nothing but one hundredth of the percentage point.


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Carnival of Indian Personal Finance Blogs #1
Fetch higher interest rate on your savings...
Do you know what led banks to calibrate...
Things to know before retirement
Recurring deposit facility by IDBI Bank


NANGAL: CaℒL Giℛℒ In Una 09855660911 Escoℛt...
Chandigarh@CaℒL Giℛℒ In Rajpura +O9855660911...
If I invest 100000 rupees deposit for 2 year , how...

NEWS THIS WEEK
Federal Bank launched V connect for its customers Feb 12, 2015
Andhra Bank on expansion mode Feb 11, 2015
Dena Bank earned a profit of 13%. Feb 9, 2015
Banks expected to cut down the rates Feb 5, 2015
RBI kept the rates unchanged Feb 4, 2015
News Archive