Bank of Baroda hikes rates of interest on 1 to three years of mounted deposits

Bank of Baroda (BoB), a public sector lender, has elevated rates of interest on mounted deposits of lower than ₹2 crore. The financial institution made this declaration on June 15, 2022, and following the adjustment, the financial institution has hiked rates of interest on mounted deposit tenors starting from a couple of to a few years. Domestic & NRO Term Callable Deposits, each contemporary & renewal might be topic to the amended charges.

BoB FD Rates

The financial institution will proceed to present a 2.80 per cent rate of interest on deposits maturing in 7 to 45 days, and a 3.70 per cent rate of interest on deposits maturing in 46 to 180 days. Fixed deposits maturing in 181 days to 270 days will earn a 4.30 per cent rate of interest, whereas deposits maturing in 271 days or extra and fewer than a yr would get a 4.40 per cent rate of interest. Fixed deposits of 1 yr will proceed to gather 5.00 per cent, whereas mounted deposits of 1 to 2 years will earn 5.45 per cent, up from 5.20 per cent earlier than, representing a 25 foundation level improve. Bank of Baroda will now present an rate of interest of 5.50 per cent on deposits of greater than 2 years and as much as 3 years, up from 5.2 per cent beforehand, a 30 foundation level improve. The financial institution will proceed to supply a 5.35 per cent rate of interest on time period deposits maturing in above 3 Years and as much as 5 Years and above 5 Years and as much as 10 Years.

View Full Image

Bank of Baroda FD Rates (bankofbaroda.in)

BoB FD Rates For Senior Citizens

Senior residents will obtain an extra price of 0.50 per cent on mounted deposits of lower than ₹2 Cr maturing in 7 days to three Years, an extra price good thing about 0.50 per cent +0.15 per cent a complete of 65 bps on maturity interval of above 3 Years and as much as 5 Years, and an extra price good thing about 0.50 per cent +0.50 per cent a complete of 100 bps on maturity interval of above 5 years and as much as 10 years. Senior residents will get an rate of interest of three.30 per cent to six.35 per cent on mounted deposits maturing in 7 days to 10 years.

View Full Image

BoB FD Rates For Senior Citizens (bankofbaroda.in)

BoB financial savings account holders also needs to be reminded that the financial institution has elevated rates of interest on financial savings accounts. Savings account rates of interest have been raised by 5 to 10 foundation factors on account of the modification introduced on June 15, 2022.

Subscribe to Mint Newsletters

* Enter a legitimate electronic mail

* Thank you for subscribing to our e-newsletter.

First article