Bank of Baroda Revises Interest Rates On Savings Account & FDs: Check New Rates

Published: Friday, February 25, 2022, 10:12 [IST]

Bank of Baroda (BOB), a public sector lender, today announced an exclusive modification of interest rates on saving bank accounts and fixed deposits of less than Rs 2 crore. Following the change, the bank now offers a maximum interest rate of 3.30 percent on savings bank deposits and a maximum interest rate of 5.25 percent on term deposits below Rs 2 crore. According to the bank's official website, these rates are applicable as of February 25, 2022.

Bank of Baroda Savings Account Interest Rates

With effect from February 25, 2022, BoB is giving a 2.75 percent interest rate on savings bank accounts with an outstanding balance of up to Rs. 1.00 lakh. The bank is currently giving a 2.85 percent interest rate on outstanding balances ranging from Rs 1.00 lakh to Rs 200 crores. The bank is currently giving a 3.05 percent interest rate on outstanding balances of Rs 200 crores and above that are less than Rs 500 crores. The bank is currently giving a 3.25 percent interest rate on outstanding bank deposits of Rs 500 crores and above but less than Rs 1,000 crores. Bank of Baroda is currently offering savings account customers an interest rate of 3.30 percent on balances of Rs 1,000 crores and above.

SB deposits outstanding Balance	Revised Interest Rates w.e.f 25/02/2022
Up to o/s Rs. 1.00 lakh	2.75%
Above Rs 1.00 lakh to less than Rs 200 crores	2.85%
Rs 200 crores and above to less than Rs 500 crores	3.05%
Rs 500 crores and above to less than Rs 1,000 crores	3.25%
Rs 1,000 crores and above	3.30%
Source: Bank Website

Bank of Baroda Fixed Deposit Interest Rates For Regular Customers

With effect from February 25, 2022, BoB will give a 2.80 percent interest rate on fixed deposits maturing in 7 to 45 days to the general public. On term deposits maturing in 46 days to 180 days, the bank is now giving a 3.70 percent interest rate. The bank is currently offering a 4.30 percent interest rate on deposits maturing in 181 days to 270 days. Deposits maturing in 271 days or more but less than a year will now generate 4.40 percent interest. Fixed deposits with a one-year maturity will now pay 5.00 percent interest. BoB will now pay an interest rate of 5.10 percent and 5.25 percent to the general public on term deposits maturing in the range of one year to three years and three years to ten years. On fixed deposits of less than Rs 2 Cr, BoB is now offering the following interest rates to the general public.

Tenors	Rate of interest in % p.a.
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	5.1
Above 400 days and upto 2 Years	5.1
Above 2 Years and upto 3 Years	5.1
Above 3 Years and upto 5 Years	5.25
Above 5 Years and upto 10 Years	5.25
Source: Bank Website (w.e.f. 25.02.2022)

Bank of Baroda Fixed Deposit Interest Rates For Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% for all tenors up to 5 years. However, the bank also offers a special deposit scheme to senior citizens which comes with a deposit tenor of Above 5 years to up to 10 years. On these deposits, the bank pays an additional rate of 1% resulting in an interest rate of 6.25% to senior citizens. The bank has mentioned on its website "1.00% for "Above 5 years to up to 10 years" tenor and valid till 31.03.2022." Bank of Baroda is currently offering elderly citizens the following interest rates on deposits of less than Rs 2 crore.

Tenors	Rate of interest in % p.a.
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	5.6
Above 400 days and upto 2 Years	5.6
Above 2 Years and upto 3 Years	5.6
Above 3 Years and upto 5 Years	5.75
Above 5 Years and upto 10 Years	6.25
Source: Bank Website (w.e.f. 25.02.2022)