FD Interest Rate: Bank of Baroda raised the interest rates on fixed deposits below Rs 2 crore by up to 0.20 per cent. The new rates have come to effect from September 13, 2022. The one-year tenor domestic and NRO (Non-Resident Ordinary) term deposit will offer an interest of 5.50 per cent, up from 5.30 per cent earlier, the bank said on Wednesday. Deposits for above 400 days to 3 years will earn an interest of 5.50 per cent, up from 5.45 per cent. For above 3 years to 10 years, the new rate is 5.65 per cent, up by 0.15 per cent. (Allso Read: State Bank of India Hikes Interest Rates On Loans; EMIs Set To Go Up)
For senior citizens, there will be a higher rate of interest for one-year deposits at 6 per cent from 5.80 per cent earlier.
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Likewise for other tenors applicable on resident senior citizens, the new rates will range in 6-6.65 per cent as against 5.95-6.50 per cent.
Bank of Baroda: FD Interest Rates
| Tenors | FD Interest Rate in % (Below Rs 2 crore) |
| 7 days to 14 days | 3.00 |
| 15 days to 45 days | 3.00 |
| 46 days to 90 days | 4.00 |
| 91 days to 180 days | 4.00 |
| 181 days to 270 days | 4.65 |
| 271 days & above and less than 1 year | 4.65 |
| 1 year | 5.50 |
| Above 1 year to 400 days | 5.50 |
| Above 400 days and upto 2 Years | 5.50 |
| Above 2 Years and upto 3 Years | 5.55 |
| Above 3 Years and upto 5 Years | 5.65 |
| Above 5 Years and upto 10 Years | 5.65 |
| Above 10 years | 5.10 |
Source: Bank of Bardoa
Among others, the bank has also raised the interest on 'Baroda Tax Savings Term Deposit' for 5 to 10 years tenor to 5.65 per cent, up by 0.15 per cent. For senior citizens, the deposits will earn up to 6.65 per cent.
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The lender has also hiked the savings rate on Baroda Advantage Fixed Deposit of Rs 15 lakh and less than Rs 2 crore for domestic, NRO and NRE (Non-Resident External) account holders to up to 5.80 per cent from 5.65 per cent.
Baroda Tiranga Deposit Scheme, which is available in two tenor buckets -- offering interest rates of 5.75 per cent per annum for 444 days and 6 per cent per annum for 555 days -- continues to be available till 31st December, 2022.
Also Read: State Bank of India Hikes Interest Rates On Loans; EMIs Set To Go Up
Senior citizens earn an additional interest rate of 0.50 per cent per annum, while Non-Callable Deposits get 0.15 per cent per annum more, said the lender.
(With PTI inputs)
