OBC cuts interest rates on select maturities by 0.25%

OBC cuts interest rates on select maturities by 0.25% New Delhi: State-owned lender Oriental Bank of Commerce Monday slashed interest rates on term deposits of Rs 5 crore and above on select maturities by 0.25 percent.

The bank has slashed interest rates on maturities of 180- 269 days to 8 percent from 8.25 percent earlier.

For maturities of 1 year to less than 2 years; and between 2 years to less than 3 years the new deposit rates will be 8.50 percent each, the bank said in a statement.

Shares of the bank were traded at Rs 201.10 apiece on the BSE, up 2.26 percent from the previous close.

PTI