OBC Interest Rates on FD, Oct 2016

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Last Updated 27th Oct 16

TenureInterest Rate
30 Days4.50%
45 Days 5.50%
60 Days 6.00%
90 Days 6.00%
120 Days 6.25%
6 Months 7.00%
9 Months 7.00%
12 Months 7.30%
18 Months 7.30%
2 Years 7.25%
3 Years 7.25%
4 Years 7.25%
5 Years 7.25%
7 Years 7.25%
10 Years 7.25%

OBC FD Interest Rates

  • OBC offers FD interest rates upto 7.30% per annum.
  • Interest on deposits with OBC is typically compounded quarterly.
  • OBC accepts deposits starting at Rs. 1000 for various tenures.
  • For senior citizens (age more than 60 years), OBC offers 0.50% higher interest rate over and above rates mentioned below.

OBC Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, OBC pays 1% lower ROI than that applicable for actual duration of deposit.

Loan against OBC FD

  • OBC offers loan upto 90% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

OBC Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with OBC, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of OBC in your city - Find OBC Branches here

About OBC

Oriental Bank of Commerce (OBC) was started in Lahore, Pakistan in 19th February of the year 1943, made a modest beginning under its Founding Father, Late Rai Bahadur Lala Sohan Lal. OBC is a public sector bank engaging in monetary intermediation of commercial banks, saving banks and discount houses. In the year 1951, the registered office was relocated to Delhi. It was nationalized in April of the year 1980. In the year 1992, the merchant banking division of the bank was set up and the bank was authorized to act as a category-I merchant banker by SEBI. In the year 1997 two banks namely Punjab Co-operative Bank and Bari Doab Bank were amalgamated in OBC. Immediate next year the bank collaborated with Citibank to launch a co-branded credit card. In 1999 it set up special branch and asset recovery branch in Mumbai and Delhi. In 2002 OBC set up a specialized branch, exclusively for women entrepreneurs. In same year it tied up with Corporation Bank to share their ATM network. In 2008 it entered into distribution tie up with Kotak Mahindra Asset Management Company. The bank network covers more than 2129 branches spread over 22 states in India and 2414 ATMs across the country. The bank reported 3.16% growth in net profit of Rs. 364.54 crore in June 2014 against Rs.353.38 crore in FY 2013. Total assets for year 2014 stood at Rs 214783.24 crore.

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News - Oct 2016
27th Oct 16 Punjab National Bank reduces lending rates by 0.05 percent from November 1st, 2016
Punjab National bank has reduced their Marginal Cost Lending Rates (MCLR) by 0.05 percent. The one year MCLR has reduced to 9.25 percent. The three and five year MCLR has reduced to 9.40 percent and 9.55 percent. Similarly, the overnight and three months MCLR has reduced to 9 percent and 9.15 percent. These rates will be effective from 1st November, 2016.
27th Oct 16 Kotak Mahindra Bank net profit in second quarter rises by 43 percent, NPA reduces marginally
Kotak Mahindra Bank reported an increase in its net profit by 43 percent to Rs. 813 crore in the June to September quarter as compared to the net profit of Rs. 570 crore during the same corresponding period a year ago. The gross non performing assets are reduced to 2.49 percent in September as compared to 2.50 percent in June.
26th Oct 16 HDFC Bank net profit in second quarter rises up by 20.4 percent, asset quality remains stable
HDFC Bank reported an increase in its net profit by 20.4 percent to 3,455.3 crores for July to September quarter as compared to Rs. 2,869.5 crore in the corresponding period a year ago. The increase in profitability is to due to the increase in net interest income, other income, and operating profit. Net interest income grew by 19.6 percent to Rs.7,993 crores in July to September quarter. The asset quality remained stable but net interest margin declined sequentially.
26th Oct 16 State Bank of Mysore posts loss in second quarter, bad loans surges three times
State Bank of Mysore reported a loss of Rs. 183.5 crore in the second quarter ended on September 30 as compared to net profit of Rs. 131 crore during the July to September quarter in FY16 due to rise in the bad loans. Total income of the bank in the second quarter also declined to Rs. 1,947.63 crore from Rs. 1,969.96 crore in corresponding period a year ago.
25th Oct 16 Axis Bank Q2 net profit down by 21.3 percent, bad loans rise
Axis Bank reported a downfall in its net profit by 21.3 percent to Rs. 1,555 crore for June to September quarter due to high rise in bad loans. The number of bad loans spiked to 88.7 percent. The net profit of the bank was Rs. 1,978 crore during the corresponding period in the last fiscal year.