Bank of Baroda Fixed Deposit Interest Rate Hike 2023: Senior citizens and other depositors will now get 25 bps more interest on fixed deposits of various tenors offered by Bank of Baroda (BoB).
Bank of Baroda Fixed Deposit Interest Rate Hike in 2023: Senior citizens and other depositors will now get 25 bps more interest on fixed deposits of various tenors offered by Bank of Baroda (BoB). The public sector bank today said it has increased interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by 25 basis points on select tenors. The new rates will be applicable on deposits below Rs 2 crore with effect from March 17, 2023.
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BoB has also increased interest rates on the Baroda Tax Savings Term Deposit as well as Baroda Advantage Fixed Deposit, a Non-Callable Retail Term Deposit Scheme.
The public sector bank had earlier increased retail term deposit interest rates by up to 65 bps and in November 2022 by up to 100 bps.
In a statement, the Bank of Baroda said that its existing and new customers can open a FD through any of the Bank’s branches across India. An online FD can also be opened by existing customers via the Bank’s Mobile app (bob World)/ Net Banking (bob World Internet).
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Senior citizens and other depositors will now get 25 bps more interest on fixed deposits of various tenors offered by the Bank of Baroda (BoB). The public sector bank today said it has increased interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by 25 basis points on select tenors.
The new rates will be applicable on deposits below Rs 2 crore with effect from March 17, 2023.
BoB has also increased interest rates on the Baroda Tax Savings Term Deposit as well as Baroda Advantage Fixed Deposit, a Non-Callable Retail Term Deposit Scheme.
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The public sector bank had earlier increased retail term deposit interest rates by up to 65 bps and in November 2022 by up to 100 bps.
In a statement, the Bank of Baroda said that its existing and new customers can open an FD through any of the Bank’s branches across India. An online FD can also be opened by existing customers via the Bank’s Mobile app (bob World)/ Net Banking (bob World Internet).
New Bank of Baroda Fixed Deposit Interest Rates (for deposits below Rs 2 crore)
Fixed Deposit of above 3 years to 5 years: The bank is now offering 6.5% interest to the General Public and for NRO accounts. Resident Senior Citizens can get a 7.15% interest rate.
Fixed Deposit of above 5 years to 10 years: The bank is now offering 6.5% interest to the General Public and for NRO accounts. Resident Senior Citizens can get a 7.50% interest rate.
NRE Term Deposits (callable) below Rs 2 crore for above 3 years and up to 5 years: The bank is now offering 6.5% interest.
NRE Term Deposits (callable) below Rs 2 crore for above 5 years and up to 10 years: The bank is now offering 6.5% interest.
Baroda Tax Savings Term Deposit: The bank is offering 6.5% interest on FDs of 5 years and up to 10 years to general depositors. Resident Senior citizens can get 7.15% on a 5-year tax saving deposit and 7.5% interest on tax saving deposits above 5 years to up to 10 years.
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Baroda Advantage Fixed Deposit (Domestic including NRO, NRE(TD) Accounts) (Non-Callable): The bank is now offering 6.75% on deposits of above 3 years to 5 years. Senior citizens can get 7.4% interest. On deposits of above 5 years to 10 years, the bank is offering 6.75% interest to all general depositors while resident senior citizens can get 7.75% interest. Under this scheme, the minimum single deposit that can be made is Rs 15.01 lakh and below Rs 2 Crore).
