Bank of Baroda (BoB) hikes FD rates, earn as high as 7.05% effective from today
2 min read . Updated: 17 Mar 2023, 02:28 PM IST
Premium- Bank of Baroda has hiked its interest rates on domestic fixed deposits (FDs) of less than ₹2 Cr.
Bank of Baroda has hiked its interest rates on domestic fixed deposits (FDs) of less than ₹2 Cr. The bank is now giving an interest rate range of 3.00% to 6.25% for fixed deposits maturing in 7 days to 10 years for the general public and 3.50% to 6.755 for senior citizens. With its newly introduced Baroda Tiranga Plus Deposit Plan, the bank is giving a maximum interest rate of 7.05% for the general public and 7.55% for senior citizens on a special 399-day term. According to the bank's official website, the revised rates took effect on March 17, 2023.
Bank of Baroda FD Rates
On domestic deposits maturing in 7 days to 45 days, the bank is now offering an interest rate of 3.00% and on those maturing in 46 days to 180 days, Bank of Baroda (BoB) is now offering an interest rate of 4.50%. Bank of Baroda (BoB) is now offering an interest rate of 5.25% on a deposit tenor of 181 days to 210 days and an interest rate of 5.75% on a deposit tenor of 211 days to less than 1 year. Deposits maturing in 1 year to upto 3 years will now fetch an interest rate of 6.75% and those maturing from above 3 years to 10 years will fetch an interest rate of 6.50%.
BoB is offering special fixed deposit schemes of 444 Days (Baroda Tiranga Deposit Scheme) and 555 Days (Baroda Tiranga Deposit Scheme) on which the general public will get an interest rate of 6.75% and senior citizens will get an interest rate of 7.25%. Also, the bank is providing a unique deposit of 399 Days (Baroda Tiranga Plus Deposit Scheme), the general public will get an interest rate of 7.05% and senior citizens will get an interest rate of 7.55%.
“Additional 30bps over & above 50bps being paid to Senior Citizens for Retail Term Deposits of tenor Above 5 Years to 10 years has been increased to 50bps as per ALCO Meeting deliberations dated 22.12.2022 and accordingly will be paid 100bps (50bps+50bps) w.e.f. 26.12.2022 (Fresh & Renewals)," Bank of Baroda has mentioned on its website.
On Baroda tax savings fixed deposit of 5 years, the general public will get an interest rate of 6.50% and senior citizens will get an interest rate of 7.15% and on tax saving deposits maturing from above 5 years to up to 10 years, non-senior citizens will get an interest rate of 6.50% while senior citizens will get an interest rate of 7.50%.
“Sr.Citizen Rate is applicable only for "Resident Indian Sr. Citizen", Resident Staff & Senior Citizen Retired resident staff as per Deposit Policy," according to Bank of Baroda.