This bank has increased the interest rates on Fixed Deposit ie FD. After this increase, ordinary citizens will get up to 7.25 percent interest on FD.
New Delhi. Many banks have increased their interest rates on FDs. Due to this, the attraction of people towards FD has also increased. If you are also planning to get FD in a government bank, then this news is useful for you. Public sector lender, Bank of Baroda has increased interest rates on domestic fixed deposits by up to 30 bps for select tenors. This also includes NRO and NRE Fixed Deposits (FD). Also, the bank has increased the interest rates on its Baroda Tiranga Plus Deposit Scheme (Baroda Tiranga Plus Deposit Scheme), whose tenure is 399 days.
On fixed deposits of less than Rs 2 crore, the bank is paying 7.25% interest to common citizens and 7.75% to senior citizens. Earlier these rates were 7.05% and 7.55% respectively. The new rates have come into effect from May 12. Earlier, the bank had increased the fixed deposit rates in March and December 2022.
Know how much interest is being received on FD now
The bank is offering 3 percent interest rate on deposits maturing in the next 7 to 45 days. FDs maturing in 46 to 180 days will get interest at the rate of 4.5 per cent. The bank is paying 4.5 percent interest on FDs maturing between 181 to 210 days. Fixed deposits with maturity of 211 days or less will get interest at the rate of 5.75 per cent. The bank will pay interest at the rate of 6.75 per cent on fixed deposits with maturity between one and two years.
Interest rate for senior citizens
The bank offers an interest rate of 3.5 per cent to senior citizens on deposits maturing between 7 to 45 days. 5 percent interest rate will be paid on FDs maturing in a period of 46 to 180 days. Deposits maturing in a period of 181 to 210 days will be given interest at the rate of 5.75 percent. Senior citizens will get interest at the rate of 6.25 per cent on deposits maturing in 211 days or less. On fixed deposits with maturity between one and two years, senior adults are eligible for an interest rate of 7.25 per cent.
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