OBC hikes deposit, lending rates by 0.25-1%

Oriental Bank of Commerce today announced 0.25-1% increase in term deposit rates and 0.25% increase in prime lending rate.

The hike in deposit rates would be effective from December 26, 2006, while the increase in PLR would be effective from January 15, 2007, the bank said in a statement.

The prime lending rate has been raised from 11.5 % to 11.75%.