City-based Oriental Bank of Commerce (OBC) has increased the deposit rates by up to 2.25% for FDs of short-term maturities. As per the revision, fixed deposit rate for maturities ranging from one-month to 45 days has been raised to 7.25% from 5%. The revised FD rates will be with effect from February 1, 2013.
The lender has kept the deposit rates for maturities of above one year unchanged. The increase has been effected for fixed deposits ranging from one month to one year.
The bank has reported 7.85% fall in its net profit at Rs 326.40 crore for the quarter as compared to Rs 354.22 crore for the same quarter in the previous year. However, total income of the bank has increased by 7.90% at Rs 4846.54 crore for quarter under review as compared to Rs 4491.76 crore for the quarter ended December 31, 2011.
