Bank Of Baroda Increases Interest Rates On Fixed Deposits by up to 20bps

After dropping from its peak of 7.8% on April, 22 to 6.71% on July 22, the inflation rate is again seeing a hike to 7% in August 22. The Reserve Bank Of India (RBI) consistently increases the repo rate to control the inflation hike.

The hike in the interest rates by RBI has led to increased interest rates of Fixed Deposits (FDs) by many different banks. In the previous months, many public and private sector banks have increased their interest rates significantly.

Recently Bank Of Baroda, a leading public sector bank in India, has increased the interest rates for fixed deposits by 20 basis points (bps) on the maturity period of 1 year across the tenors. For tenors on maturity periods of 1-2 years, the interest rates have increased by 0.5 basis points from 5.45 to 5.50.

Here are the revised interest rates on fixed deposits of Bank Of Baroda for domestic term deposits below the amount of Rs. 2 Crores.

Tenors	Interest rates (in %)
7 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 to less than a year	4.65
1 year	5.50
Above one year to 400 days	5.50
Above 400 days to 2 years	5.50
Above 2 years to 3 years	5.55
Above 3 years to 5 years	5.65
Above 5 years to 10 years	5.65

The interest rates mentioned above are applicable for the fixed deposits after September 13, 2022.