Bank of Baroda FD rates: Bank of Baroda has reexamined the interest rates on fixed deposits. Senior residents get an extra premium of 0.50 percent on homegrown fixed deposits.
Public area moneylender Bank of Baroda (Bank of Baroda-BoB) has updated interest rates on fixed deposits with impact from February 25. After this revision, the new FD interest rates of Bank of Baroda have gone up from 2.80 percent to 5.25 percent for maturity between 7 days to 10 years.
Bank of Baroda offers 2.80 percent premium on FDs maturing in 7 days to 45 days. In the new rates, premium of 3.7 percent will be accessible on maturity from 46 days to 180 days and 4.30 percent on maturity from 181 to 270 days. The interest rates on FDs developing in 271 days or more however under 1 year is 4.4%
The interest rates for deposits maturing in one year is 5%. The interest rates on stores for a time of over 1 year and as long as three years is 5.1 percent. 5.25 percent premium is accessible on FDs over 3 years and as long as 5 years. Bank of Baroda is offering 5.25 percent premium for FDs developing over 5 years and as long as 10 years.
The bank gives higher premium on FDs for senior residents. Senior residents get an extra interest of 0.50 percent on fixed deposits of not as much as Rs 2 crore for all tenors.
Private banks are giving more interest
Some private banks are giving interest rates at the pace of 7% on three-year FDs for senior residents. These incorporate Bandhan Bank and Yes Bank. In these banks, as of now, a interest rate of 7% is accessible on FDs of three years span for senior residents. By contributing a measure of one lakh here, your cash will increment to Rs 1.23 lakh in three years.
