Bank of Baroda has increased interest rates of fixed deposits (FD) for amounts less than Rs 2 crore. The bank has hiked fixed deposit interest rates by up to 35 basis points (bps) across tenors. The new interest rates are effective from July 28, 2022, according to the Bank of Baroda website.
BOB fixed deposit interest rates
The bank raised the interest rate on fixed deposits maturing in 7 days to 45 days from 2.80 percent to 3.00 percent. The bank now offers 4 percent on term deposits maturing in 46 days to 180 days from 3.70 percent.
will now offer an interest rate of 4.65 percent, up from 4.30 percent, a 35-basis point increase, on deposits maturing in 181 days to 270 days, and an interest rate of 4.65 percent, up from 4.40 percent, a 25-basis point increase, on deposits maturing in 271 days and above and less than a year.
Deposits maturing in 1 year will now earn an interest rate of 5.30 percent, up from 5 percent earlier. While the interest rate on term deposits maturing in more than three years and up to 10 years has increased from 5.35 percent to 5.50 percent.
Fixed deposits maturing in more than 1 year to 2 years are kept unchanged and will continue to earn an interest rate of 5.45 percent.
Senior Citizen FD interest rate
Bank of Baroda offers 3.50 percent to 6.50 percent interest rate for senior citizens.
Note: (* incl. additional ROI 0.50%, ** incl. additional ROI of 0.50%+0.50%, # incl. additional ROI of 0.50%+0.15%)
The asterisk indicate that deposits maturing in the next seven days to three years will receive an additional rate of 0.50 percent, deposits maturing in the next three to five years will receive an additional ROI of 0.50 percent plus 0.15 percent, and deposits maturing in the next five to ten years will receive an additional ROI of 0.50 percent plus 0.50 percent.