Oriental Bank cuts interest rates on select maturities by 0.25 per cent

Oriental Bank of Commerce has slashed interest rates on term deposits of Rs 5 crore and above on select maturities by 0.25 per cent.

The state-owned lender has slashed interest rates on maturities of 180-269 days to 8 per cent from 8.25 per cent earlier.

"For maturities of 1 year to less than 2 years; and between 2 years to less than 3 years the new deposit rates will be 8.50 per cent each," the bank said in a statement.

Shares of the bank were trading at Rs 201.10 apiece on the BSE, up 2.26 per cent from the previous close.