What Is The Rate Of Interest In OBC Bank?

Which type of bank is OBC?

Oriental Bank of Commerce (OBC), a public sector bank established in the year 1943 and headquartered in Gurgaon.

The bank provides various financial and banking services to its customers such as deposit accounts, loans, debit cards, credit cards, insurance, ATMs, internet banking, mobile banking and many more..

What is the interest of 1 lakh in post office?

India Post Office Fixed Deposit Calculator 2020TenureRatesMaturity Amount for ₹ 1 Lakh2 years 1 day to 3 years5.50% to 5.50%₹ 1,11,561 – ₹ 1,17,8073 years 1 day to 5 years6.70% to 6.70%₹ 1,22,081 – ₹ 1,39,4077 days to 1 year5.50% to 5.50%₹ 1,00,105 – ₹ 1,05,6141 more row•Nov 25, 2020

What is the minimum balance in OBC?

OBC Savings Accounts Minimum Balance RequirementsType of Savings AccountMinimum BalanceOBC Diamond Saving Deposit AccountAverage quarterly Balance – Rs. 1 lakhOBC Platinum Saving Deposit AccountAverage quarterly Balance – Rs. 5 lakhsOriental Double Deposit SchemeRs. 10001 more row

Which bank gives highest interest rate on FD for 5 years?

5-Year Fixed Deposits in IndiaBest FD rates for 5 year 2020BankRegular FD Interest Rates (per annum)Senior Citizen FD Interest Rates (per annum)Citibank4.00%4.50%HDFC Bank5.75%6.25%IDFC Bank7.25%7.75%5 more rows

What is the interest for 1 lakh in SBI?

Interest rate on SBI savings bank deposits Currently, the interest rate on savings bank deposits on balance up to Rs 1 lakh is 3.5 per cent. On balance above Rs 1 lakh, the interest rate is 3 per cent per annum, which is set at 2.75 per cent below RBI’s Repo Rate, with a minimum of 3 per cent for the entire balance.

What is platinum deposit scheme in OBC?

Features of OBC Platinum Saving Deposit AccountBankOriental Bank of CommerceInitial Deposit RequirementsNilAverage Quarterly BalanceRs. 5,00,000Debit CardDebit/ATM card is issued free of cost. There are no renewal charges as well.Interest RateThe interest rate is paid with quarterly rests1 more row

How much interest will 5 lakhs earn?

Additionally, if a bank is having an interest rate of 7.25 per cent per annum, (Discounted Rate of Interest of 7.21 per cent), then on a principal amount of Rs 5 lakh, the total interest comes to Rs 1,80,322, which yields Rs 3,005 as the monthly interest amount.

How much interest will I get for 10 lakhs?

Formula of Calculation of EMILoan amountInterest RateEMI per month5 Lakh8.35%Rs. 6,15910 Lakh8.50%Rs. 9,84715 Lakh8.60%Rs. 13,11220 Lakh8.70%Rs. 17,610

What is OBC MPIN?

What is MPIN & How to generate MPIN for SBI, ICICI, PNB, BOB, HDFC, OBC, SBBJ: – MPIN is a 4-digit code used to authenticate your IMPS transactions while doing transactions on National Unified USSD Platform or Bank’s Call to pay service to make bill payments. … The MPIN is used only when we transact through our mobile.

Is OBC a good bank?

ORIENTAL BANK OF COMMERCE is a very good bank, their executive is understanding the customer concern well and ready to help at any cost.

Which is the No 1 bank in India?

HDFC Bank: HDFC Bank has been ranked India’s No. 1 Bank in forbes’ world’s Best bank report. It has 88,253 permanent employees as of 31 March 2018 and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private sector lender by assets.

Which is best private bank?

Housing Development Finance Corporation Limited, popularly known as HDFC Bank, ranks number 1 among the list of best private banks in India….HDFC Bank. … ICICI Bank. … Axis Bank. … Kotak Mahindra Bank. … Yes Bank. … Federal Bank. … IndusInd Bank. … RBL Bank.More items…•

What is new name of OBC bank?

Bank Merger: All branches of Oriental Bank of Commerce, United Bank of India start functioning as PNB branches – The Economic Times.

Is OBC a scheduled bank?

The RBI has excluded six public sector banks, including OBC and Allahabad Bank, from the Second Schedule of the RBI Act following their merger with other banks. The six banks are Syndicate Bank, Oriental Bank of Commerce (OBC), United Bank of India, Andhra Bank, Corporation Bank, and Allahabad Bank.

Which bank gives highest interest rate on FD?

Type of the Depositor: All the banks in India offer a comparatively higher interest rate on senior citizens’ fixed deposits….Fixed Deposit Interest Rates 2020.BanksFD Interest RatesTenureICICI Bank2.50% – 5.50%7 days to 10 yearsAxis Bank2.50% – 5.50%7 days to 10 yearsIDFC First Bank2.75% – 5.75%7 days to 10 years4 more rows•Nov 20, 2020

Is OBC a Nationalised bank?

Oriental Bank Of Commerce In the year 1980, the bank was nationalised. … In the year 1997 two banks namely Punjab Co–operative Bank and Bari Doab Bank were amalgamated in OBC.

How many years FD will double?

To know the time duration in which your FD amount will get doubled, you have to divide 72 with the highest rate. For example, if the highest rate on FD is 6.95%, then the number of years in which your FD will get doubled is 72/6.95= 10.36. Thus, it will take 10 years for your FD to get doubled.

Is OBC Bank merged with PNB?

The amalgamation of Punjab National Bank, United Bank of India and Oriental Bank of Commerce has come into effect from April 1, 2020. The merger will create the second largest nationalized bank of the country – both in terms of business and branch network.