Oriental Bank cuts deposit rates by 0.25% in select maturities

Public sector player Oriental Bank of Commerce (OBC) today reduced deposit rates for select maturities.

“Oriental Bank of Commerce has…revised interest rate on term deposits across two maturities w.e.f. August 5, 2015,” it said in a filing on BSE.

The bank has reduced deposit rates by 0.25 per cent, to 7 per cent, for maturities between 91-179 days.

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Also, for deposits maturing in 270 days to less than one year, the new interest rates will be 7.5 per cent, down 0.25 per cent from earlier.

OBC shares closed at Rs 182.15, up 4.68 per cent, on the BSE.