Oriental Bank of Commerce is a government-owned bank in India that offers savings accounts, loans, and payment services

Oriental Bank of Commerce (OBC) is a public sector bank owned by the Government of India. It operates across India with branches in most cities and towns, offering standard banking products: savings and current accounts, fixed deposits, personal loans, home loans, agricultural loans, and digital payment services. If you have an account there or are considering opening one, you are dealing with a bank regulated by the Reserve Bank of India (RBI) and covered by deposit insurance through the Deposit Insurance and Credit may provide Corporation (DICGC).

OBC merged with Punjab National Bank (PNB) in April 2023. This means OBC no longer operates as a separate bank. Existing OBC account holders were automatically transferred to PNB, and their accounts continue to function under PNB's systems and terms. If you held an OBC account before the merger, your money is still protected, but you now deal with PNB for customer service, branch access, and account management.

Key Takeaways

  • Oriental Bank of Commerce merged with Punjab National Bank in April 2023, so OBC no longer exists as an independent bank.
  • If you had an OBC account before the merger, it was transferred to PNB automatically and your deposits remain insured by DICGC.
  • OBC offered the same core products as other Indian public sector banks: savings accounts, loans, fixed deposits, and digital payment services.
  • You can no longer open a new account directly with OBC, but you can open one with PNB at any former OBC branch location.

What OBC offered before the merger

Before it merged with PNB, OBC provided savings accounts with interest rates set by the bank (not fixed by the government), current accounts for businesses, recurring deposit accounts, and fixed deposits with terms ranging from 7 days to 10 years. Interest rates on savings accounts were typically in the range of 3% to 4% annually, though this varied based on account type and balance. The bank also offered overdraft facilities, debit cards, and online banking access.

For borrowing, OBC offered personal loans (unsecured loans for general purposes), home loans, auto loans, and agricultural loans targeted at farmers. Loan approval timelines and interest rates depended on your credit history, income, and collateral. OBC also provided services like locker facilities, foreign exchange services, and bill payment options through its branches and digital platforms.

How the merger with Punjab National Bank affects you

If you held an OBC account before April 2023, your account was transferred to PNB without any action required on your part. Your account number, balance, and transaction history moved to PNB's systems. You can still access your money through ATMs, online banking, and PNB branches. Your deposits remain insured up to 5 lakh rupees per depositor per bank under DICGC coverage, the same protection that existed under OBC.

Going forward, you will interact with PNB for all banking services. This means PNB's interest rates, fees, and policies now apply to your account. If you need to update your account details, request a loan, or resolve issues, you contact PNB customer service or visit a PNB branch. Many former OBC branch locations continue to operate as PNB branches, so physical access to banking services usually remains unchanged.

Deposit insurance and account safety

Money held in an OBC account (now transferred to PNB) is protected by the DICGC, a body established by the RBI. This insurance covers up to 5 lakh rupees per depositor per bank. If PNB were to fail—an extremely rare event for a government-owned bank—your deposits up to that limit would be repaid by the DICGC. This protection applies to savings accounts, current accounts, and fixed deposits held in your name.

The 5 lakh limit applies per bank, not per account. If you hold multiple accounts at PNB (such as a savings account and a fixed deposit), the total coverage across all your accounts at that bank is 5 lakh rupees. If you hold accounts at different banks, each bank's coverage is separate, so you could have 5 lakh rupees covered at PNB and another 5 lakh at a different bank.

Opening a new account after the merger

You cannot open a new OBC account because the bank no longer exists as a separate entity. If you want to open an account at a former OBC branch location, you now open it with PNB. The process is the same as opening any PNB account: you visit a branch with proof of identity (Aadhaar, passport, or driver's license), proof of address (utility bill or rental agreement), and a completed account opening form. Some branches also offer online account opening through PNB's website or mobile app.

PNB offers the same types of accounts that OBC did: savings accounts, current accounts, and fixed deposits. Interest rates and account features may differ from what OBC offered, so compare PNB's current rates and terms before opening an account. You can also contact PNB customer service to ask about account options and which branch locations are most convenient for you.

How to access your OBC account now

If you have an existing OBC account that transferred to PNB, you can access it through PNB's digital channels. Log into PNB's online banking portal or mobile app using your account number and password. If you do not remember your login details, you can reset them through the PNB website or by visiting a PNB branch with your identification. Your debit card issued by OBC continues to work at ATMs and merchants that accept it, though PNB may issue you a new card when your current one expires.

For in-person banking, visit any PNB branch. You can withdraw cash, deposit checks, request account statements, or discuss loans and other services. Customer service phone numbers for PNB are available on the PNB website. If you have questions specific to your transferred account, mention that it was previously an OBC account—branch staff are familiar with the merger and can help you navigate any transition issues.

Frequently Asked Questions

Is my money safe in a transferred OBC account now that it is with PNB?

Yes. Your deposits are insured by DICGC up to 5 lakh rupees, the same protection that existed when your account was with OBC. PNB is a government-owned bank regulated by the RBI, so your account is as safe as it was before the merger.

Can I still use my OBC debit card?

Yes, your OBC debit card continues to work at ATMs and merchants. When it expires, PNB will issue you a new card. You can also request a new card sooner by visiting a PNB branch or contacting PNB customer service.

What if I need a loan from my bank now?

Contact PNB to discuss loan options. You can visit a PNB branch, call PNB customer service, or use PNB's online banking portal. PNB offers personal loans, home loans, and other products. Approval depends on your credit history and income, just as it did with OBC.

Do I need to do anything to keep my account active after the merger?

No action is required. Your account was automatically transferred and remains active. However, if your account has been inactive for a long time, PNB may freeze it according to banking regulations. Check your account status by logging into online banking or visiting a branch.

Where can I find a PNB branch near me?

Visit the PNB website and use the branch locator tool, or search "PNB branch near me" online. Many former OBC branch locations now operate as PNB branches, so your nearest banking location may not have changed.