Oriental Bank of Commerce Cuts Deposit Rates in Select Maturities

New Delhi: Oriental Bank of Commerce (OBC) on Tuesday 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 to the BSE.

The public sector lender has reduced deposit rates by 0.25 per cent, to 7 per cent, for maturities between 91 and 179 days.

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.

Shares in OBC, on Tuesday, ended over 4 per cent higher at Rs 182.15 apiece on the BSE.