The Bank of Baroda expanded loan fees on retail term deposits under Rs 2 crore by up to 0.20 percent. Since September 13, 2022, the new rates have been active.
Domestic and NRO (Non-Resident Ordinary) term deposits with a one-year maturity will currently pay an interest rate of 5.50 percent, up from the past pace of 5.30 percent, the bank declared on Wednesday.
Deposits for over 400 days to 3 years will procure an interest of 5.50 percent, up from 5.45 percent. For over 3 years to 10 years, the new rate is 5.65 percent, up by 0.15 percent.
For senior residents, there will be a higher pace of revenue for one-year deposits at 6% from 5.80 percent prior.
The new rates will run in 6-6.65 percent as against 5.95-6.50 percent for different occupants pertinent on inhabitant senior residents.
The bank has additionally raised the premium on ‘Baroda Tax Saving Term Deposit’ to 5.65 percent, up by 0.15 percent for 5 to 10 years. For senior residents, the deposits will procure up to 6.65 percent.
Also, the loan specialist raised the reserve funds rate on Baroda Advantage Fixed Deposits for domestic, NRO, and NRE (Non-Resident External) account holders from 5.65 percent to up to 5.80 percent for aggregates between Rs 15 lakh and Rs 2 crore.
The Baroda Tiranga Deposit Scheme, which has two tenor pails and offers interest rates of 5.75 percent yearly for tenors of 444 days and 555 days, is still active as of December 31, 2022.
Senior residents procure an extra interest rate of 0.50 percent per annum, while Non-Callable Deposits get 0.15 percent per annum more, said the bank.
