Bank of Baroda FD Rates: There is good news for those who keep their hard earned money in the bank. Actually, there is a chance to earn more interest with Bank of Baroda. This government bank has increased the interest rates of fixed deposits.
New Delhi. After the increase in the repo rate by the Reserve Bank of India (RBI), banks have also started increasing the interest rates of loans. Apart from increasing the interest rate on loans, interest rates on bank deposits have also started increasing. Meanwhile, the public sector Bank of Baroda has increased the interest rates on fixed deposits i.e. FD, giving a gift to its customers.
New rates will be effective from September 13, 2022
According to the official website of the bank, Bank of Baroda has increased the interest rates by up to 0.20 percent. The bank has increased the interest rates for FDs below Rs 2 crore. The new interest rates of the bank have come into effect from September 13, 2022. The bank offers fixed deposits for tenors ranging from 7 days to 10 years, in which customers get interest ranging from 3 per cent to 5.65 per cent. Bank of Baroda gives 0.50 percent additional interest on FDs to senior citizens.
Bank of Baroda FD Rates (FDs below Rs 2 crore) –
7-14 days FD-3.00%
15-45 days FD-3.00%
46-90 days FD-4.00%
91-180 days FD- 4.00%
181-270 day FD-4.65%
271-1 FD less than
1 year-4.65% 1-year FD-5.50%
1 to 400 day FD- 5.50%
400 days to 2 year-5.50%
2 to 3-Year FD-5.55%
3 to 5-Year FD-5.65% 5-10
Year FD-5.65%
Recently, RBI had increased the repo rate by 0.5 percent to 5.4 percent.
Significantly, recently the Reserve Bank of India increased the repo rate by 0.5 percent to 5.4 percent. RBI has increased the policy rate repo by 1.40 percent in the last 3 monetary policy reviews.
Many banks have increased the rates of fixed deposits,
Let us tell you that recently Punjab National Bank, Federal Bank, HDFC Bank, Karud Vysya Bank, IndusInd Bank, ICICI Bank etc. have also increased their FD rates. This process of increasing the rates has started after the increase in the repo rates by the RBI.
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