Oriental Bank cuts interest rate on FDs

Oriental Bank of Commerce (OBC) has cut fixed deposit (FD) rates across various maturities with effect from January 20, 2015.

FD rates for deposits for 46 to 90 days have been cut to 6.75 per cent from 7 per cent.

For deposits ranging from 91 days to 179 days, the bank's new rate stands at 7.75 per cent against 8 per cent earlier.

For deposits ranging from 5 years to 10 years, 3 years to 5 years and 2 years to 3 years, the new rate stands at 8.25 per cent against 8.75 per cent earlier.