According to a report , public sector lender, Oriental Bank of Commerce has decided to cut interest rates on deposits less than 1 crore.
The rate will be cut in the range of 0.25 percent to 0.5 percent with effect from coming Monday.
The BSE filing said that “the bank has revised interest rate on term deposits across various maturities with effect from March 28, 2016.
The new interest rate for maturities ranging from one year to less than two years, the new interest rate will be 7.5 percent from 7.75 percent , two years to less than three years by 0.25 percent to 7.25 percent.
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