Bank of Baroda hikes retail term deposits by up to 65 bps

 

• These rates will be applicable from December 26, 2022.



Public sector lender Bank of Baroda on Monday said retail fixed deposit interest rates. These rates are applicable for deposits below ₹2 crore with effect from Bank of baroda.

"Interest rates have also been increased on the special scheme Baroda Tricolor Plus Deposit Scheme. The 399-day Baroda Tricolor Plus Deposit Scheme now offers an interest rate of up to 7.80% per annum, with 0.50% per annum for senior citizens and non- -Includes 0.25% for redeemable .deposit," according to a statement by the bank.

"In addition, the bank is offering interest rates of up to 7.50% per annum, including 0.50% per annum for senior citizens and 0.25% for non-callable deposits, for tenures up to 1 year and 3 years. Bank of Baroda has increased the retail term deposit interest rates for the second time this quarter, including a hike of up to 100 bps in November 2022," Bank of Baroda said in its statement.

Bank of Baroda FD Rates

The bank will give an interest rate of 5.75% on deposits of 211 and 270 days and 271 days and above and less than 1 year. Deposits with maturities of one year, 1 year, 1 year to more than 400 days, 400 days to 2 years and 2 years to 3 years will now fetch 6.75% interest.

Bank of Baroda has increased the interest rate on deposits maturing in more than three years and up to ten years from 6.25%.

Under the Baroda Tiranga Deposit Scheme, Bank of Baroda also offers an interest rate of 6.75% per annum. 444-day and 555-day on deposit.

senior citizen rates

"For retail fixed deposits with tenor of 3 years to more than 5 years, senior citizens will get 65 bps extra. For retail fixed deposits with tenor more than 5 years to 10 years, senior citizens will get 100 bps extra." the release said.


For deposits from 1 year to 3 years, the bank will give an interest rate of 6.75%. Earlier the interest rate was 6.10% which means a hike of 65 bps will be seen.

From 3 years to 10 years, the bank will give an interest rate of 6.25%, which was earlier 6.10%.

Under the Baroda Tiranga Deposit Scheme, Bank of Baroda also offers an interest rate of 6.75% per annum. 444-day and 555-day on deposit.