IDBI Bank and Oriental Bank of Commerce, on Wednesday, hiked the deposit rates by up to 1.50 percentage points in select maturities.
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IDBI Bank, which also modified its maturity offering, will now pay 8.50 per cent for a deposit of 46 days to 200 days, which is higher than the earlier rate of 7 per cent for the 46-90 days basket and 7.25 per cent for the 91 days to less than six months basket, it said in a statement.
It also hiked its interest rate in two other baskets by 0.25 percentage point. Oriental Bank of Commerce hiked its offering by 0.25 percentage point in the one-year to less than two-year maturity bucket, it said in a filing with the stock exchanges.
IDBI Bank’s interest rate revision is effective August 16, while the same for OBC is from August 12.
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