Bank of Baroda Hikes FD Rates, Now Senior citizens To Get Up To 7.55% & General Public Up To 7.05%

Published: Friday, March 17, 2023, 20:58 [IST]

Bank of Baroda (BoB), a leading public sector lender, hikes the interest rates of its fixed deposits below Rs 2 crore. After the hike, now, the bank offers interest rates on FD up to 7.05% for the general public and 7.55% on fixed deposits for Senior citizens. According to the bank's official website, the revised interest rates on fixed deposits are effective from March 17, 2023.

The bank is now giving an interest rate range of 3.00% to 7.05% for fixed deposits for the general public and 3.50% to 7.55% for senior citizens on FD maturing in 7 days to 10 years (Including the Baroda Tiranga FD scheme). The bank has introduced the Baroda Tiranga Plus Deposit Plan, under the scheme, the bank offers 444 days FD, 555 days FD and 399 days FD. Under this scheme, the bank offers a maximum interest rate of up to 7.05% for the general public and up to 7.55% for senior citizens.

Bank of Baroda Hikes FD Rates, Now Senior citizens To Get Up To 7.55%

Domestic Term Deposits including NRO Deposits below Rs 2.00 Crores

Tenors	General Public (in%)	Resident Indian Sr. Citizen (in%)
7 days to 14 days	3	3.50*
15 days to 45 days	3	3.50*
46 days to 90 days	4.5	5.00*
91 days to 180 days	4.5	5.00*
181 days to 210 days	5.25	5.75*
211 days to 270 days	5.75	6.25*
271 days & above and less than 1 year	5.75	6.25*
1 year	6.75	7.25*
Above 1 year to 400 days	6.75	7.25*
Above 400 days and upto 2 Years	6.75	7.25*
Above 2 Years and upto 3 Years	6.75	7.25*
Above 3 Years and upto 5 Years	6.5	7.15 #
Above 5 Years and upto 10 Years	6.5	7.50***
"Above 10 years (MACT/MACAD
Court Order schemes only)"	6.25	6.75*
444 Days (Baroda Tiranga Deposit Scheme)***	6.75	7.25*
555 Days (Baroda Tiranga Deposit Scheme)***	6.75	7.25*
399 Days (Baroda Tiranga Plus Deposit Scheme)	7.05	7.55*

(* 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%)

Note - 1. Preferential Rate is applicable only for Resident Indian Sr. Citizen, Resident Staff & Resident Senior Citizen Retired staff as per Deposit Policy.
2. 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).

Source - www.bankofbaroda.in

Story first published: Friday, March 17, 2023, 20:58 [IST]

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