Bank Of Baroda Raises FD Interest Rates By 30 Bps
Bank of Baroda (BoB) has hiked its interest rates on fixed deposits (FDs) of up to Rs 2 crore. As the new changes come to effect, the FD interest rate will go up to 7.25 per cent.
According to the new rates, senior citizens can expect up to 7.75 per cent on fixed deposits. Revised interest rates will be effective from Friday 12 May, 2023.
For deposits maturing between seven and 45 days, BoB will offer an interest rate of 3 per cent, while FDs maturing between 46 and 180 days can earn an interest rate of 4.5 per cent.
Meanwhile, the FDs maturing between 181 and 210 days will get an interest of 4.5 per cent. Fixed deposits maturing between 211 days and less than one year will earn an interest of 5.75 per cent.
BoB will offer an interest rate of 6.75 per cent on fixed deposits maturing between one and two years. And it will offer an interest rate of 7.05 per cent on FD tenures of above two years and up to three years. Earlier, the interest rate offered on this tenure was 6.75 per cent.
The bank offers an interest rate of 6.50 per cent on FDs maturing between three and ten years.
BoB’s Baroda Tiranga Plus Deposit Scheme, which has a tenure of 399 days offers the highest interest rate at 7.25 per cent.
Senior Citizens
For senior citizens, deposits maturing between 7 and 45 days bank will bank offer an interest rate of 3.5 per cent. FDs maturing between 46 days and 180 days, will earn an interest rate of 5 per cent and deposits maturing between 181 and 210 days will earn an interest rate of 5.75 per cent.
Meanwhile, senior citizens will earn an interest rate of 6.25 per cent on deposits maturing between 211 days and less than a year. An interest rate of 7.25 per cent can earned on fixed deposits maturing between one and two years.
Also, BoB will offer an interest rate of 7.55 per cent on deposits maturing between two years and up to three years. Earlier, the bank was offering 7.25 per cent interest rate for this tenure.
BoB will offer an interest of 7.15 per cent on FDs maturing between three to five years and 7.55 per cent on FDs maturing above 5 years.
