Bank of Baroda hikes retail fixed deposit rates by 30 bps on select tenors

Down on Retail Fixed Deposit 2 crore, the bank is offering a rate of 7.05% with effect from May 12 as compared to 6.75% earlier. This is for a tenure of 2 years to more than 3 years. For the same, senior citizens will earn 7.55% from 7.25% earlier.

Meanwhile, in case of deposits below 2 Crore, the interest rate is 7.25% (General category) and 7.75% (Senior Citizens under Baroda Tiranga Plus – 399 days plan). Earlier, the rates were 7.05% and 7.55% respectively.

Apart from this, the bank said, interest rates on Baroda Tricolor Plus Deposit Scheme have also been hiked.

The 399-day Baroda Tricolor Plus Deposit scheme now offers an interest rate of up to 7.90% per annum, which includes 0.50% per annum for senior citizens and 0.15% for non-refundable deposits.

Under Baroda Advantage Fixed Deposit, which includes minimum deposit amount Below 15.01 Lakh 2 crore, the interest rate for the general category is 7% to 7.30% earlier, while senior citizens earn 7.50% to 7.80% earlier on tenures of 2 years to more than 3 years.

for deposits from Below 15.01 Lakh 2 crore, in Baroda Tiranga Plus plan – 399 days, general category and senior citizens now earn 7.40% and 7.90% — as compared to 7.80% and 7.40% earlier.

According to the bank, existing and new customers of Bank of Baroda can open FDs through any branch of the bank across India. Existing customers can also open FD online through the Bank’s Mobile App (Bob World) / Net Banking (Bob World Internet).

Earlier, the bank had increased the fixed deposit rates in March and December 2022 this year.

BoB serves its global customer base of over 150 million through over 46,000 touchpoints spread across 17 countries across five continents.