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Oriental Bank Savings Account

Oriental Bank of Commerce is a public sector bank. It has its headquarters in Gurgaon. The Bank focuses on credit delivery to women. It has five designated branches dedicated to women entrepreneurs.

Types of OBC Savings Accounts

Basic Savings Bank Deposit Account: This account is meant for those Indian citizens who fulfill all eligibility criteria to open a bank account, but cannot afford to comply with the financial obligation of maintaining the required minimum balance in the savings account. This account offers nomination facility to the customers and also a free ATM card. These account holders cannot enjoy the internet banking facility.

OBC Diamond Saving Deposit Account: OBC’s Diamond Saving Deposit Account is a popular account among the bank’s customers. The account offers a free ATM card which has no charges for renewal or issuance. The customers also receive personalized multi-city cheque-books for free as well as a discount of 25% on locker rental charges.

OBC Platinum Saving Deposit Account: This account gives a whopping discount of 50% on locker rental fees to the account holders apart from a free personalized multi-city cheque-book and an ATM card without any renewal or issuance charges. If the account holders can maintain the stipulated average quarterly balance, they receive a personal accident insurance cover worth Rs.10 lakhs for free.

Oriental Double Deposit Scheme: The Double Deposit Scheme by Oriental bank has different deposit tenures for various categories of customers.

Category

Deposit Tenure

General public

99 months

Senior citizens

93 months

Staff

87 months

Ex-staff senior citizens

84 months

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OBC Savings Accounts Minimum Balance Requirements

Type of Savings Account

Minimum Balance

OBC Diamond Saving Deposit Account

Average quarterly Balance - Rs.1 lakh

OBC Platinum Saving Deposit Account

Average quarterly Balance - Rs.5 lakhs

Oriental Double Deposit Scheme

Rs.1000

Basic SB Deposit Account

No minimum balance is required

Get your free Credit report that cost Rs 1200 for FREE

1. Build your Credit Score

2. Reduce your Current Borrowing / EMI Costs

Eligibility 

These are the eligibility criteria for Savings Accounts: 

  • Resident Indian
  • Hindu Undivided Families
  • Trusts, associations, government bodies, religious institutions, clubs, etc. 

Documents Required to Open a Savings Account

  • Identity Proof: Passport, driver’s license with validity, Permanent Account Number (PAN) card, Voter ID card, Aadhaar Card, Government-issued photo identity card, NREGA Card, etc. 
  • Address Proof: Passport, driver’s license, Passbook of another bank, Electricity or phone bills, Ration card, etc. 
  • Passport sized photographs
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