The Oriental Bank of Commerce has its headquarters at Gurgaon. It is one of the leading financial institutions in India. Through its array of services and banking products, it has been catering to a large number of customers across India. This is also a bank that has tiled over many highs and lows.
The bank had to be closed down after the partition of Pakistan as the headquarters was at Lahore in Pakistan. The registered office was then moved to Amritsar from Lahore.
The Bank was amalgamated with the Global Trust Bank which was one of the leading private sector banks. After this acquisition, the number of branches increased to 1092 and from there on the steady growth of the bank ensued.
Savings account, balance, and charges
All citizens of India who are major are eligible to open an account at Oriental Bank of Commerce. The saving bank account types and the minimum balance that has to be maintained are as follows.
=> Basic Savings Bank deposit account– The minimum balance you will have to maintain for the basic savings account at OBC in the rural, urban and metropolitan regions are Nil.
=> Pension or senior citizens Saving Bank account– The minimum balance to be maintained for accounts without checkbook is RS. 100/- while of that with the checkbook is Rs.250/- But the charges for non- maintenance of minimum balance is nil.
=> Savings Bank Account- General– the minimum balance for rural and semi-urban areas without checkbooks is RS.50/-, with the checkbook is RS.100/-. Similarly, for urban and metros without cheque book is Rs 100/- and for checkbook facility is Rs.200/-. However, there are no penalty charges for not maintaining the minimum balance.
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