OBC hikes FD rates on select maturities by up to 0.5%

OBC hikes FD rates on select maturities by up to 0.5% New Delhi: State-owned Oriental Bank of Commerce (OBC) Tuesday hiked fixed deposit rates by up to 0.5 percent on the select maturities.

The new rates would be effective from Wednesday, OBC said in a statement.

Term deposits of maturity 91-179 days will earn an interest rate of 8 percent from existing 7.5 percent, it said.

At the same time, interest rate on fixed deposits of Rs 15 lakh but less than Rs 1 crore of the same maturity period has been raised by 0.25 percent. The new rate would be 8.25 percent.

Shares of OBC closed at 336.45, up 1.01 percent on BSE.

PTI