OBC hikes interest rates on term deposits by 25 bps

New Delhi, Aug 1 (UNI) Oriental Bank of Commerce (OBC) today hiked its interest rates by 25 basis points on its term deposits (domestic), following a hike by the Reserve Bank of India (RBI) in the reverse and reverse repo rate last month.

The interest rates have been hiked in maturity buckets of one year to less than 2 years, 2 years to less than 3 years, 3 years to less than 5 years and 5 years to less than 8 years by 25 basis points, a bank statement said.

Further the bank has also introduced a new maturity bucket of 8 years to 10 years at 8.25 per cent.

The revised rates are effective from today.

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