OBC hikes interest rate on non-resident deposits | india | Hindustan Times
Today in New Delhi, India
Oct 21, 2017-Saturday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

OBC hikes interest rate on non-resident deposits

Oriental bank of Commerce has hiked interest rates on Foreign Currency Non Resident (FCNR) deposits on all maturities terms.

india Updated: May 05, 2006 18:26 IST

Oriental bank of Commerce has hiked interest rates on Foreign Currency Non Resident (FCNR) deposits on all maturities terms.

FCNR for dollar deposits hade been increased to 5.33 per cent on a maturity period of 1-2 years, to 5.34 per cent for 2-3 years, 5.53 per cent for 3-4 years, 5.39 per cent for 4-5 years and 5.43 per cent for 5 years, a release from the bank said here today.

The rates have also been increased on pounds, euro, Australian and Canadian dollars deposits.

The bank has recently hiked its Prime Lending Rate by 0.5 per cent to 11.5 per cent.