Bank of Baroda Increases Interest Rates again on Retail Term Deposits by up to 65 basis points
- Interest Rates hiked on the Baroda Tiranga Plus Deposit Scheme as well –
- Baroda Tiranga Plus now offers up to 7.80% p.a. for 399 Days
MUMBAI, India, Jan. 13, 2023 /PRNewswire/ — Bank of Baroda (Bank), one of India’s leading public sector banks, today announced an increase in interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by up to 65 basis points across various tenors. These rates are applicable on deposits below Rs 2 crore, with effect from December 26, 2022.
Interest rates have also been hiked on the special scheme Baroda Tiranga Plus Deposit Scheme. The 399 Day Baroda Tiranga Plus deposit scheme now offers interest rates up to 7.80% p.a, which includes 0.50% p.a. for senior citizens and 0.25% for non-callable deposits.
Further, the Bank is offering interest rates up to 7.50% p.a, which includes 0.50% p.a. for senior citizens and 0.25% for non-callable deposits, for a period of 1 year and upto 3 years.
Bank of Baroda has increased retail term deposit interest rates for the second time this quarter, including up to 100 bps hike in November 2022.
Existing and new customers of Bank of Baroda can open a FD through any of the Bank’s branches across India. An online FD can also be opened by existing customers via the Bank’s Mobile app (bob World)/ Net Banking (bob World Internet).
Bank of Baroda’s Revised Fixed Deposit Interest Rates for the following Time Buckets:
|
Domestic Term Deposits including NRO below Rs 2 crore (Fresh & Renewal) – (Callable) w.e.f. 26.12.2022 |
|||||
|
Tenors |
Resident/ General Public |
Resident Indian Senior Citizen |
Increase by |
||
|
Old Rate (% p.a.) |
New Rate (% p.a.) (w.e.f. 26.12.2022) |
Old Rate (% p.a.) |
New Rate (% p.a.) (w.e.f. 26.12.2022) |
||
|
211 to 270 days |
5.25 |
5.75 |
5.75* |
6.25* |
+50bps |
|
271 days to less than 1 Year |
5.50 |
5.75 |
6.00* |
6.25* |
+25bps |
|
1 Year |
6.10 |
6.75 |
6.60* |
7.25* |
+65bps |
|
Above 1 Year to 400 days |
6.10 |
6.75 |
6.60* |
7.25* |
+65bps |
|
Above 400 days to 2 Years |
6.10 |
6.75 |
6.60* |
7.25* |
+65bps |
|
Above 2 Years to 3 Years |
6.25 |
6.75 |
6.75* |
7.25* |
+50bps |
|
Above 3 Years to 5 Years |
6.10 |
6.25 |
6.75# |
6.90# |
+15bps |
|
Above 5 Years to 10 Years |
6.10 |
6.25 |
6.90** |
7.25*** |
+15bps (+35bps for senior citizens) |
|
Above 10 Years |
6.10 |
6.25 |
6.60* |
6.75* |
+15bps |
|
Baroda Tiranga – 444 Days (Scheme ends on 31.12.22) |
6.10 |
6.75 |
6.60* |
7.25* |
+65bps |
|
Baroda Tiranga – 555 Days (Scheme ends on 31.12.22) |
6.10 |
6.75 |
6.60* |
7.25* |
+65bps |
|
Baroda Tiranga Plus – 399 Days |
6.75 |
7.05 |
7.25* |
7.55* |
+30bps |
|
(*incl. additional ROI 0.50% , #incl. additional ROI of 0.50+0.15, **additional ROI of 0.50% +0.30%, ***incl. additional ROI of 0.50% + 0.50%) |
|||||
For Retail Term Deposits of tenor above 3 years to 5 years, Senior Citizens will get 65 bps extra. For Retail Term Deposits of tenor above 5 years to 10 years, Senior Citizens will get 100 bps extra.
|
For NRE Term Deposit (Rupee) (Callable) ROI of amount below Rs 2 crore (Fresh and Renewal) w.e.f. 26.12.2022 |
|||
|
Tenors |
Old Rate (% p.a.) |
New Rate (% p.a.) (w.e.f. 26.12.2022) |
increase by |
|
1 Year |
6.10 |
6.75 |
+65bps |
|
Above 1 Year to 400 days |
6.10 |
6.75 |
+65bps |
|
Above 400 days to 2 Years |
6.10 |
6.75 |
+65bps |
|
Above 2 Years to 3 Years |
6.25 |
6.75 |
+50bps |
|
Above 3 Years to 5 Years |
6.10 |
6.25 |
+15bps |
|
Above 5 Years to 10 Years |
6.10 |
6.25 |
+15bps |
|
Baroda Tiranga – 444 Days (Scheme ends on 31.12.22) |
6.10 |
6.75 |
+65bps |
|
Baroda Tiranga – 555 Days (Scheme ends on 31.12.22) |
6.10 |
6.75 |
+65bps |
|
Baroda Tiranga Plus – 399 Days |
6.75 |
7.05 |
+30bps |
|
Baroda Tax Savings Term Deposit (Fresh & Renewal) |
|||||
|
Tenors |
Resident/ General Public |
Resident Indian Senior Citizen |
increase by |
||
|
Old Rate (% p.a.) |
New Rate (% p.a.) (w.e.f. 26.12.2022) |
Old Rate (% p.a.) |
New Rate (% p.a.) (w.e.f. 26.12.2022) |
||
|
For 5 Years |
6.10 |
6.25 |
6.75# |
6.90# |
+15bps |
|
Above 5 Years to up to 10 Years |
6.10 |
6.25 |
6.90** |
7.25*** |
+15bps (+35bps for Senior Citizens) |
|
(#incl. additional ROI of 0.50+0.15, **incl. additional ROI of 0.50% +0.30%, ***incl. additional ROI of 0.50% + 0.50%) |
|||||
Baroda Advantage Fixed Deposits (Domestic including NRO, NRE(TD) Accounts (Non-Callable) ROI in % (Minimum Single Deposit Rs 15.01 lakh & below Rs 2 Crore) w.e.f. 26.12.2022 (Fresh & Renewal) |
|||||
|
Tenors |
Resident/ General Public Including NRO, NRE (TD) |
Resident Indian Senior Citizen |
increase by |
||
|
Old Rate (% p.a.) |
New Rate (% p.a.) (w.e.f. 26.12.2022) |
Old Rate (% p.a.) |
New Rate (% p.a.) (w.e.f. 26.12.2022) |
||
|
1 Year |
6.35 |
7.00 |
6.85* |
7.50* |
+65bps |
|
Above 1 Year to 400 days |
6.35 |
7.00 |
6.85* |
7.50* |
+65bps |
|
Above 400 days to 2 Years |
6.35 |
7.00 |
6.85* |
7.50* |
+65bps |
|
Above 2 Years to 3 Years |
6.50 |
7.00 |
7.00* |
7.50* |
+50bps |
|
Above 3 Years to 5 Years |
6.35 |
6.50 |
7.00# |
7.15# |
+15bps |
|
Above 5 Years to 10 Years |
6.35 |
6.50 |
7.15** |
7.50*** |
+15bps (+35bps for Senior Citizens) |
|
Baroda Tiranga – 444 Days (Scheme ends on 31.12.22) |
6.35 |
7.00 |
6.85* |
7.50* |
+65bps |
|
Baroda Tiranga – 555 Days (Scheme ends on 31.12.22) |
6.35 |
7.00 |
6.85* |
7.50* |
+65bps |
|
Baroda Tiranga Plus – 399 Days |
7.00 |
7.30 |
7.50* |
7.80* |
+30bps |
|
((*incl. additional ROI 0.50%, #incl. additional ROI of 0.50+0.15, **additional ROI of 0.50% +0.30%, ***incl. additional ROI of 0.50% + 0.50%) |
|||||
Under Baroda Advantage Fixed Deposits (Non-Callable), for Retail Term Deposits of tenor above 3 years to 5 years, Senior Citizens will get 65 bps extra and for Retail Term Deposits of tenor above 5 years to 10 years, Senior Citizens will get 100 bps extra.
For details: https://www.bankofbaroda.in/interest-rate-and-service-charges/deposits-interest-rates
About Bank of Baroda:
Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touchpoints spread across 18 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.
- Visit us at www.bankofbaroda.in
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Contacts: For further information, please contact:
Bank of Baroda:
Phiroza Choksi
corp.pr@bankofbaroda.com
0265-2316792
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