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Bank of Baroda Hikes Interest Rates On FDs of Less Than Rs 2 Cr (W.e.f. 22.03.2022)
Bank of Baroda (BoB), a public sector lender, has raised interest rates on fixed deposits of less than Rs 2 crore for a variety of tenors. The bank announced the change on March 22, 2022, and as a result, the bank is now offering an interest rate of 5.20 percent, up from 5.1 percent before, on deposits maturing in more than one year and up to three years, a hike of 10 basis points (bps) will be granted to the general public. Previously, the bank offered a 5.25 percent interest rate on deposits maturing in three years and up to ten years; however, the interest rate will now be 5.35 percent, an increase of 10 basis points. Except for the tenors mentioned above, the bank has held interest rates on the rest of the tenors constant.
Bank of Baroda FD Rates For The General Public
On domestic term deposits of less than Rs 2 Cr, regular customers would receive the following interest rates as of 22.03.2022.
| Tenors | Interest rates p.a. in % |
|---|---|
| 7 days to 14 days | 2.8 |
| 15 days to 45 days | 2.8 |
| 46 days to 90 days | 3.7 |
| 91 days to 180 days | 3.7 |
| 181 days to 270 days | 4.3 |
| 271 days & above and less than 1 year | 4.4 |
| 1 year | 5 |
| Above 1 year to 400 days | 5.2 |
| Above 400 days and upto 2 Years | 5.2 |
| Above 2 Years and upto 3 Years | 5.2 |
| Above 3 Years and upto 5 Years | 5.35 |
| Above 5 Years and upto 10 Years | 5.35 |
| Source: Bank Website |
Bank of Baroda FD Rates For Senior Citizens
On deposits maturing in 7 days to 5 years, resident Indian senior citizens will continue to get an additional rate of 0.50 percent. Senior citizens will receive a 6.35 percent interest rate on deposits maturing in more than 5 years and up to 10 years, which is a 1% additional over and above the regular rate. Senior citizens previously received a 5.6 percent interest rate on deposits maturing in more than one year to three years, but now they will receive a 5.70 percent interest rate, a 10 basis point increase. The interest rate on deposits maturing in more than 3 years and up to 5 years was previously 5.75 percent, but now elderly people will receive 6.00 percent, an additional ROI of 0.50+0.15.
| Tenors | Interest rates p.a. in % |
|---|---|
| 7 days to 14 days | 3.3 |
| 15 days to 45 days | 3.3 |
| 46 days to 90 days | 4.2 |
| 91 days to 180 days | 4.2 |
| 181 days to 270 days | 4.8 |
| 271 days & above and less than 1 year | 4.9 |
| 1 year | 5.5 |
| Above 1 year to 400 days | 5.7 |
| Above 400 days and upto 2 Years | 5.7 |
| Above 2 Years and upto 3 Years | 5.7 |
| Above 3 Years and upto 5 Years | 6 |
| Above 5 Years and upto 10 Years | 6.35 |
| Source: Bank Website |
