|Tenure||OBC FD Rates (p.a.)|
|Regular Citizens||Senior Citizens|
|7 days to 14 days||4.50%||5.00%|
|15 days to 30 days||4.50%||5.00%|
|31 days to 45 days||4.50%||5.00%|
|46 days to 90 days||5.25%||5.75%|
|91 days to 179 days||5.50%||6.00%|
|180 days to 269 days||5.75%||5.25%|
|270 days to less than 1 year||5.80%||6.30%|
|1 year to less than 2 years||6.25%||6.75%|
|2 years to less than 3 years||6.25%||6.75%|
|3 years to less than 5 years||6.25%||6.75%|
|5 years to 10 years||6.25%||6.75%|
Note: The Interest rates are applicable with effect from November 22nd, 2019 on deposits below Rs. 2 crore.
OBC FD Rates (on deposits of Rs. 2 crore and above)
|Tenure||OBC FD Rates|
|Days/Years||Deposit of Rs. 2 crore to Rs. 10 crore||Deposit of more than Rs.10 crore|
|7 – 14 days||4.25%||4.25%|
|15 – 30 days||4.25%||4.25%|
|31 – 45 days||4.50%||4.50%|
|46 – 90 days||4.50%||4.50%|
|91 – 179 days||4.75%||4.75%|
|180 – 269 days||5.25%||5.25%|
|270 days to less than 1 year||5.50%||5.50%|
|1 year to less than 2 years||5.75%||5.75%|
|2 years to less than 3 years||5.50%||5.50%|
|3 years to less than 5 years||5.50%||5.50%|
|5 years to 10 years||5.50%||5.50%|
Note: No additional FD interest rate for senior citizens.
NRE Fixed Deposit Interest Rates
|Time Period||Interest Rates (% p.a.) less than ₹ 2 Crore|
|1 year to less than 2 years||6.50%|
|2 years to less than 3 years||6.50%|
|3 years to less than 5 years||6.50%|
|5 years to 10 years||6.50%|
Note: The Interest rates are applicable with effect from October 14th, 2019 on deposits below Rs. 2 crore.
FCNR Deposit Interest Rates
|Deposit Period||Interest Rates|
|1 year to < 2 years||2.72||1.27||0.15||1.39||2.59||0.44|
|2 years to < 3 years||2.83||1.28||0.20||1.35||2.34||0.22|
|3 years to < 4 years||2.81||1.27||0.23||1.37||2.32||0.22|
|4 years to < 5 years||2.82||1.27||0.26||1.50||2.31||0.21|
|5 years only||2.81||1.27||0.28||1.53||2.30||0.22|
Note: The Interest rates are applicable with effect from November 13th, 2019.
Types of FD Schemes Offered by Oriental Bank of Commerce
1. Flexi Fixed Deposit
|Tenure||7 days – less than 1 year|
|Min. Deposit Amount||Rs.1000|
|Rate of Interest||Compounded quarterly; paid half-yearly|
|Rates for Senior Citizens||Additional 0.50% interest (for deposits up to Rs. 1 crore)|
|Premature Withdrawal||Available (after 1 year)|
|Loan against FD||Yes|
2. Tax Saving Term Deposit
|Tenure||5 – 10 years|
|Deposit Amount||Rs. 100 – Rs. 1.5 lakh|
|Rates for Senior Citizens||Additional 0.50% rate of interest|
|Premature Withdrawal||Available after 5 years (except on the event of depositor)|
|Loan against FD||Not Available|
3. Varishtha Samman Deposit Scheme
|Tenure||Minimum 3 years|
Premature Withdrawal Facility
Oriental Bank of Commerce provides the facility to withdraw or cancel the fixed deposit before its maturity date. This facility is termed as premature withdrawal facility. A certain penalty is charged by the bank on exercising this option. Usually, the interest is paid at lower OBC FD rates than what were signed up for at the time of opening the FD. Please check with the bank for further details.
All you need to know Premature withdrawal of Fixed Deposit
OBC Loan against FD
Along with providing customers with competitive OBC FD interest rates for better returns, there is one more facility provided by the bank, i.e. facility to take up loan against the fixed deposit. This lets the customers provide for a financial requirement.
Read more about OBC Loan against FD
Oriental Bank of Commerce FD Calculator
Using the FD calculator available at Paisabazaar.com customers can get the best idea of how much they can benefit monetarily on pooling their money in an FD scheme by OBC. To use the tool enter details like tenure of the FD, prevailing OBC Bank FD rates for select tenure and amount to be deposited. On submission of such details, calculated maturity amount shall be displayed.
Documents Required to Open OBC Fixed Deposit
The following list of documents must be checked in order to open a fixed deposit account with the Oriental Bank of Commerce:
- Application form
- Photo ID proof (PAN card, passport, driving license, etc.)
- Residence proof (Aadhaar card, passport, etc.)
- PAN card or declaration of Form No. 60, whichever maybe applicable
- Passport size photograph(s) of depositor & nominee, if any
Note: This is not an exhaustive list.
How to Apply FD Schemes by Oriental Bank of Commerce?
Customers are required to either download the application form from the official website of the bank or get the same from the nearby branch of Oriental Bank of Commerce. Fill the form properly and get it signed duly (self and nominee, if any). Deposit the same with the preferred choice of branch. Furnish the aforementioned list of documents to complete the process.
Frequently Asked Questions
Q. Is it mandatory to provide PAN?
A. Customers need to either quote PAN or furnish declaration of Form No. 60, whichever is applicable.
Q. What is the highest FD rate for Oriental Bank of Commerce?
A. OBC FD rates keep on fluctuating. Currently, highest FD rate is 6.50% which can be availed by investing for a tenure option ranging from 1 year to less than 2 years.