Oriental Bank of commerce is definitely one of the most acknowledged banking systems in the country. With a strong ATM network across India, the bank allows customers to access their money seamlessly and conveniently.
However, from April 1st 2020, this bank has merged with Punjab National Bank. If you are a customer of the oriental bank already, don’t fret out as there will be no alterations in the IFSC code and account number.
This one is a deposit scheme that comes with a variety of tenures for varied customers’ categories, such as:
You can choose according to the category and requirements.
This OBC bank saving account is a basic one that caters to the requirements of those citizens who match the eligibility criteria. Along with an ATM card that comes free of cost, this account also supports a nomination Facility. If you would like to access your account online, then internet banking facility is also available.
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If you sign up for this savings account, you can relish the advantages of 50% concession on locker charges along with personalized multi-city cheque books without any cost. The ATM issued with this account type doesn’t come with any issuance or renewal charges. Not just that, but you also get to have an accident insurance cover worth Rs. 10 lakhs.
Lastly, this diamond savings account is quite a popular choice among the customers, whether you open a single or an OBC bank joint account. You get to have a personalized multi-city cheque book and an ATM card without paying a single penny. If you take a locker on rent, you get to enjoy up to 25% discount on the charges.
The minimum amount that you must keep in your account majorly depends upon the deposit tenure, type of account that you have selected, and several other factors. Below-mentioned is the comprehensive compilation of OBC bank minimum balance 2020 requirements to give you an idea.
|Types of Account||Minimum Balance|
|Basic SB Deposit Account||Nil|
|Oriental Double Deposit Scheme||Rs. 1000|
|OBC Platinum Saving Deposit Account||Average quarterly balance of Rs. 5 lakhs|
|OBC Diamond Saving Deposit Account||Average quarterly balance of Rs. 1 lakh|
For different savings accounts, this bank offers lucrative interest rates to ensure that the customers avail the best out of their services. Here is what you can expect out of OBC saving account interest rate:
To open an account in this bank, you can either download the form from the official portal or visit the nearest branch. You would have to mention all the details as asked in the form, attach required documents, and submit the same to the branch.
As far as the eligibility Factor is concerned, the bank allows the following entities to open up a savings account:
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The importance of a savings account definitely cannot be denied. Not just it instils a habit of saving regularly, but also helps collect enough funds during an emergency. Thus, if you didn’t have such an account yet, open up an oriental bank savings account right away.