Public sector Bank of Baroda (BOB) has changed the interest rates of Fixed Deposit i.e. FD of different tenures. The interest rates have been increased by 1.25 percent from the bank. Earlier, Union Bank had also increased the interest rates.
Public sector Bank of Baroda (BOB) has changed the interest rates of Fixed Deposit i.e. FD of different tenures. The interest rates have been increased by 1.25 percent from the bank. Earlier, Union Bank had also increased the interest rates. Some time ago, State Bank of India (SBI) had also increased the interest rates on fixed deposits by 50 bps i.e. 0.50 percent. These rates have been implemented on FDs of less than Rs 2 crore.
The increase in interest rates is focused on short term FDs. This period is less than 1 year, on which Bank of Baroda has increased the interest rates to some extent by changing them. “The interest rate on fixed deposits up to Rs 2 crore of various tenures has been increased by 0.01 per cent to 1.25 per cent,” Bank of Baroda said in a statement.
New rates applicable from December 29
The new rates have come into effect from December 29, 2023. According to the statement, the maximum increase of 1.25 percent has been made in the period of 7-14 days. The interest rate for these deposits has been increased from 3 percent to 4.25 percent. After this, the interest rate has been increased by one percent to 4.50 percent for the period of 15-45 days.
What are the FD rates of Bank of Baroda?
Bank of Barodi is offering interest ranging from 4.25 percent to 7.25 percent on FD. Let us know how much interest is being given for which period.
- 4.25 percent interest is being given on FD of 7 days to 14 days.
- On making FD for 15 days to 45 days, you will get 4.50 percent interest.
- The bank is giving 5.50 percent interest on FDs of 46 days to 90 days.
- On making FD for 91 days to 180 days, you will get interest at the rate of 5.6 percent.
- Interest of 5.75 percent is being offered on FDs of 181 days to 210 days.
- 6.15 percent interest is being given on FD of 211 days to 270 days.
- If you make FD for 271 days to less than 1 year, you will get 6.25 percent interest.
- The bank is giving 6.85 percent interest on 1 year FD.
- 6.85 percent interest is being given on FD of 1 year to 2 years.
- 7.25 percent interest is being given on FD of 2 years to 3 years.
- You will get 6.50 percent interest on FD from 3 years to 10 years.
- Whereas on tenure of more than 10 years you will get 6.25 percent interest.
- 7.15 percent interest is being given on 399 day FD.
How much interest for senior citizens?
Bank of Baroda is giving interest ranging from 4.75 percent to 7.75 percent to senior citizens. The period for these also ranges from 7 days to 10 years. Senior citizens are being given additional interest of 0.50 percent.
Union Bank has also increased the rates
Earlier, the interest rates had been increased by 25 basis points by Union Bank. These new FD rates have been implemented from December 27, which have been increased for FDs of less than Rs 2 crore. Due to this, the bank is now offering interest ranging from 3 percent to 7.25 percent on FDs of 7 days to 10 years. Senior citizens are being given additional interest of 0.50 percent.
- 3 percent interest is being given on FD of 7 days to 45 days.
- The bank is giving 4.05 percent interest on FD of 46 days to 90 days.
- On making FD for 91 days to 120 days, you will get interest at the rate of 4.30 percent.
- You will get 4.40 percent interest on FD of 121 days to 180 days.
- If you make FD between 181 days to less than 1 year, you will get 5.25 percent interest.
- The bank is giving 6.75 percent interest on 1 year FD.
- 6.75 percent interest is being given on FDs of more than 1 year to 398 days.
- 7.25 percent interest is being given on 399 day FD.
- You will get 6.5 percent interest on tenure ranging from 400 days to 10 years.
