Oriental Bank hikes certain deposit rates

Oriental Bank of Commerce has hiked interest rates on certain term deposits with short maturities. For term deposits of less than Rs 15 lakhs, interest rates have been revised upwards from 7.5 percent to 8 percent in respect of maturity period of 91 days to 179 days. In the same maturity period, interest rates have been hiked from 8 percent to 8.25 percent for term deposits of Rs 15 lakh and above but less than Rs 1 crore. For term deposits of Rs 1 crore and above but less than Rs 5 crore, the interest rate has been hiked from 5 percent to 7 percent for maturity period of 7 days to 30 days. The interest rate on similar deposits with maturity of 31 days to 90 days stands hiked to 8 percent from 7 percent. Similar rate increases have been effected for term deposits of Rs 5 crore and above for these two maturities.