Bank of Baroda’s new FD rates apply to domestic term deposits, including NRO deposits below Rs 3 crores. For short-term deposits ranging from 7 to 14 days, residents will earn 4.25%, while senior citizens will receive 4.75%.
Bank of Baroda has revised its fixed deposit rates, effective from October 3, 2024, offering attractive options for both the general public and senior citizens.
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The new rates apply to domestic term deposits, including NRO deposits below Rs 3 crores. For short-term deposits ranging from 7 to 14 days, residents will earn 4.25%, while senior citizens will receive 4.75%.
As the tenure increases, the rates also rise, with senior citizens benefiting from higher returns across various tenors. For example, deposits between 1 and 2 years now yield 7% for residents and 7.50% for senior citizens.
The revised rates include additional interest for senior citizens, with up to 0.50% extra for deposits up to 3 years and higher rates for longer tenors. This move aims to enhance savings opportunities for all customers, especially senior citizens, encouraging them to invest in fixed deposits.
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Key Points:
Effective Date: October 3, 2024.
Short-Term Deposits:
7 to 14 days: 4.25% (Residents), 4.75% (Senior Citizens).
15 to 45 days: 4.50% (Residents), 5.00% (Senior Citizens).
Longer Deposits:
1 year: 6.85% (Residents), 7.35% (Senior Citizens).
Above 5 years to 10 years: 6.50% (Residents), 7.50% (Senior Citizens).
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Additional Interest for Senior Citizens: Up to 0.50% for deposits up to 3 years, plus more for longer tenors. Take a look at this below table:
| Tenors | Residents / General Public | Resident Indian Sr. Citizen |
| 7 days to 14 days | 4.25 | 4.75* |
| 15 days to 45 days | 4.5 | 5.00* |
| 46 days to 90 days | 5.5 | 6.00* |
| 91 days to 180 days | 5.6 | 6.10* |
| 181 days to 210 days | 5.75 | 6.25* |
| 211 days to 270 days | 6.25 | 6.75* |
| 271 days & above and less than 1 year (except 360 Days) | 6.5 | 7.00* |
| 360 Days (bob360) | 7.1 | 7.60* |
| 1 year | 6.85 | 7.35* |
| Above 1 year to 400 days | 7 | 7.50* |
| Above 400 days and upto 2 Years | 7 | 7.50* |
| Above 2 Years and upto 3 Years | 7.15 | 7.65* |
| 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* |
This revision by Bank of Baroda in fixed deposit rates shows a commitment to provide better financial options for customers, particularly senior citizens.
