Public sector lender, Bank of Baroda (BoB) has revised interest rates on fixed deposits (FDs) with effect from 10 February. After this revision, Bank of Baroda latest FD interest rates range from 4.50% to 6.25% for maturities between 7 days and 10 years. Bank of Baroda gives interest rate of 4.50% on FDs maturing in 7 days to 45 days. For maturity periods 46 days to 180 days and 181 days to less than a year, BoB gives an interest rate of 5%, 5.50% respectively.
For deposits maturing in one year and above 1 year to 400 days, Bank of Baroda gives an interest rate of 6%. Above 400 days and upto 2 years and above 2 years and upto 3 years, BoB gives 6% interest rate. Bank of Baroda is offering the highest rate of 6.25% on FDs with a tenure of above 3 years and upto 5 years. For FDs maturing in above 5 years and upto 10 years, BoB gives 6% interest rate.
Bank of Baroda latest FD interest rates (below ₹2 crore) for general public
7 days to 14 days 4.50%
15 days to 45 days 4.50%
46 days to 90 days 5.00%
91 days to 180 days 5.00%
181 days to 270 days 5.50%
271 days & above and less than 1 year 5.50%
1 year 6.00%
Above 1 year to 400 days 6.00%
Above 400 days and upto 2 years 6.00%
Above 2 years and upto 3 years 6.00%
Above 3 years and upto 5 years 6.25%
Above 5 years and upto 10 years 6.00%
The bank offers special interest rate on FD for senior citizens. Senior citizens get an additional interest of 0.50% on domestic term deposits of less than ₹2 crore for all tenors.
BoB has reduced marginal cost of funds based lending rate (MCLR) on one-year tenor by 10 bps. In a stock exchange filing today, the bank informed about the reduction in its MCLR with effect from 12 February.
Country's top lender State Bank of India (SBI) also cut its FD rates by 10-50 bps while also slashing bulk term deposit rates, attributing the move to surplus liquidity in the system. The latest SBI FD rates are effective from 10 February.
