OBC revises interest rates for FCNR(B)

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New Delhi, Jun 2 (UNI) Oriental Bank of Commerce (OBC) today announced the changes in interest rates for FCNR(B) and EEFC Term Deposits which is effective from June 1, 2008.

FCNR (B) deposit rates have been revised on all maturities from one to five years for US dollars, British pound, Euro, Australian dollar and Canadian dollar.

US dollar FCNR(B) deposit rate for 1-2 years has increased to 2.41 per cent as against 2.33 per cent, British Pound deposit to 5.40 per cent from 5.06 per cent, Euro deposit to 4.34 per cent from 4.21 per cent, Australian dollar deposit to 7.66 per cent from 7.51 per cent and Canadian dollar deposit to 2.92 per cent from 2.91 per cent.

EEFC Term Deposit interest rates for US dollar, British Pound and Euro have also increased for different maturities.

EEFC US dollars deposit rate for 1-3 months is 2.21 per cent, British Pound 5.21 per cent and Euro 4.21 per cent.

For three months and above but up to October 31, 2008, EEFC US dollar deposit rate is 2.68 per cent, British Pound 5.87 per cent and Euro 4.86 per cent.

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