Bank of Baroda hikes FD interest rates: Senior citizens can earn up to 7.55%
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After the hike, the bank will now offer interest rate between 3% to 7% to regular citizens for tenure ranging from 7 days to 10 years.
Bank of Baroda FD Rates
The bank offers a 3.00% interest rate on fixed deposits maturing in 7 days to 45 days, and a 4.00% interest rate on term deposits maturing in 46 days to 180 days. Bank of Baroda will now give an interest rate of 5.25% on deposits maturing between 181 and 270 days, and an interest rate of 5.75% on deposits maturing in 271 days & above and less than 1 year.
Deposits maturing in one year to 3 years will now earn 6.75%, while fixed deposits maturing in two years or more will continue to earn 5.45%. The interest rate on term deposits maturing in more than three years and up to ten years has climbed from 6.25% at BoB.
Under the Baroda Tiranga Deposit Scheme, Bank of Baroda also provides interest rates up of 6.75% p.a. on 444-day and 555 Day deposits. BoB offers 7.05% on 399 days tenure for regular citizens.
Source: Bank website
Senior citizen FD rates
After the hike, the bank will now offer interest rate between 3.5% t0 7.55% to regular citizens for tenure ranging from 7days to 10 years.
According to the Bank of Baroda website, for senior citizens * incl. additional ROI 0.50%, # incl. additional ROI of 0.50+0.15, ** incl. additional ROI of 0.50%+0.30%, *** incl. additional ROI of 0.50%+0.50%.
As per the website, “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).”