OBC revises interest rates
The Oriental Bank of Commerce, a premier Public Sector Bank, headquartered in New Delhi announces changes in offered interest rates for FCNR (B) term deposits and NRE term deposits. Revised interest rates will be effective from November 23. FCNR (B) deposit rates have also been revised on all maturities from 1-5 years for US Dollars, British pounds, Euro, Australian Dollar, Canadian Dollar and Japanese Yen.
USD FCNR (B) deposit rate for 1 to 2 years has increased from 1.94 per cent to 2.19 per cent, GBP deposit rate has increased from 2.76 per cent to 3.01 per cent, EUR deposit rate has increased from 3.08 per cent to 3.33 per cent, AUD deposit rate has increased from 6.02 per cent to 6.27 per cent, CAD deposit rate has increased from 2.71 per cent to 2.96 per cent and JPY deposit rate has increased from 1.55 per cent to 1.80 per cent.
NRE Term Deposit rates have been revised on all maturities from one year to three years. NRE Term Deposit rate for 1 to 2 years have increased from 2.69 per cent to 3.69 per cent.