Fixed Deposit (FD) schemes are offered by Bank of Baroda at competitive interest rates ranging from 3% for the general public to 6.60% for senior citizens with terms of 7 days to 10 years. According to Bank of Baroda website, these rates are valid from November 14, 2022. In addition, Bank of Baroda raised interest rates for both senior persons and the general category on bulk savings deposits as well as fixed deposits under Rs. 2 crores. The interest rates for BoB's Tiranga deposit and tax-saving programs have also changed.
Updated FD Rates Of Bank of Baroda
In this article, we will breakdown the different updated rates for various tenures offered by the Bank of Baroda.
For 7 – 14 days, the interest rate is calculated at 3% per annum for the general public and a 3.50% per annum for senior citizens.
For 15 – 45 days, the interest rate is calculated at 3% per annum for the general public and a 3.50% per annum for senior citizens.
For 46 – 90 days, the interest rate is calculated at 4.50% per annum for the general public and a 5% per annum for senior citizens.
For 91 – 180 days, the interest rate is calculated at 4.50% per annum for the general public and a 5% per annum for senior citizens.
For 181 – 270 days, the interest rate is calculated at 5.25% per annum for the general public and a 5.75% per annum for senior citizens.
For 271 days and above and less than a year, the interest rate is calculated at 5.50% per annum for the general public and a 6% per annum for senior citizens.
For 1 year, the interest rate is calculated at 6.10% per annum for the general public and a 6.60% per annum for senior citizens.
For above a year and 400 days, the interest rate is calculated at 6.10% per annum for the general public and a 6.60% per annum for senior citizens.
For above 400 days and up to 2 years, the interest rate is calculated at 6.10% per annum for the general public and a 6.60% per annum for senior citizens.
For above 2 years and up to 3 years, the interest rate is calculated at 6.25% per annum for the general public and a 6.75% per annum for senior citizens.
For above 3 years and up to 5 years, the interest rate is calculated at 6.10% per annum for the general public and a 6.75% per annum for senior citizens.
For above 5 years and up to 10 years, the interest rate is calculated at 6.10% per annum for the general public and a 6.90% per annum for senior citizens.
For above 10 years (MACT/MACAD - Court order schemes only), the interest rate is calculated at 6.10% per annum for the general public and a 6.60% per annum for senior citizens.
Note: Additionally, according to BoB's website, the additional 50 bps previously paid to senior citizens for deposits with tenors between 5 and 10 years has been reduced to 30 basis points in accordance with the decisions made at the most recent ALCO meeting. As a result, senior citizens will now receive 80 basis points (50 basis points plus 30 basis points) starting on November 14, 2022.
Also read: HDFC Bank Hikes Fixed Deposit (FD) Interest Rates By Up To 35 Bps
Disclaimer: The interest rates mentioned in this article are recorded at the time of writing and are subject to change. BQ Prime does not endorse any of the fixed deposits mentioned above. Please invest at your own discretion.
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