PSU Bank Launches Special FD With Higher Interest Rate Only For Limited Period

Leading Public Sector Lender Bank of Baroda has launched special fixed deposit scheme known as Baroda Tiranga Deposit Scheme. The Special FD scheme was launched on the special occasion of India's 75th Independence Day.

The scheme will remain available for customers in two separate tenor buckets for 444 days and 555 days. If you opt for 444 days scheme, you can fetch an interest rate of 5.75% p.a while if you choose the 555 days scheme, the interest rate will be higher at 6.00% p.a.

The scheme will remain available only for a limited period. It will become available from August 16 till December 31, 2022. The scheme will be available on retail deposits below Rs 2 crore.

According to Bank of Baroda, "The Baroda Tiranga Deposits are available in two tenor buckets - offering interest rates of 5.75 per cent p.a. for 444 days and 6.00 per cent p.a. for 555 days. The scheme opens on 16th August up till 31st December, 2022 and is applicable on retail deposits below Rs 2 crore."

There is additional benefit for senior citizens under this scheme. They can fetch an additional interest rate of 0.50% p.a. under this scheme. It is worth noting that there will additional 0.15 interest rate for non-callable deposit.

According to Ajay K. Khurana, Executive Director, Bank of Baroda, "As India marks 75 years of independence, we are delighted to give consumers one more reason to celebrate. The Baroda Tiranga Deposit Scheme offers a higher rate of interest and the flexibility to choose from two tenures, backed by one of India's leading and most trusted banks."

The bank revised the interest rate on July 28, 2022 on FDs For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) - Below Rs. 2 Crore. Check the rates below:

Tenors	Below Rs 2 Cr. (w.e.f. 28.07.2022)
7 days to 14 days	3
15 days to 45 days	3
46 days to 90 days	4
91 days to 180 days	4
181 days to 270 days	4.65
271 days & above and less than 1 year	4.65
1 year	5.3
Above 1 year to 400 days	5.45
Above 400 days and upto 2 Years	5.45
Above 2 Years and upto 3 Years	5.5
Above 3 Years and upto 5 Years	5.5
Above 5 Years and upto 10 Years	5.5
Above 10 years (MACT/MACAD	5.1
Court Order schemes only)

The bank revised interest rates for Domestic Term Deposits Below Rs 2.00 Crores for Resident Senior Citizens [Fresh & Renewal] [Callable] on July 28, 2022. Check the rates below:

Tenors	Below Rs 2 Cr. (w.e.f. 28.07.2022)
7 days to 14 days	3.50*
15 days to 45 days	3.50*
46 days to 90 days	4.50*
91 days to 180 days	4.50*
181 days to 270 days	5.15*
271 days & above and less than 1 year	5.15*
1 year	5.80*
Above 1 year to 400 days	5.95*
Above 400 days and upto 2 Years	5.95*
Above 2 Years and upto 3 Years	6.00*
Above 3 Years and upto 5 Years	6.15#
Above 5 Years and upto 10 Years	6.50**
Above 10 years (MACT/MACAD - Court order schemes only)	5.60*