Bank of Baroda has raised interest rates on domestic retail term deposits, including NRO and NRE term deposits, by up to 50 basis points for tenors up to 3 years. These rates apply to deposits below Rs 2 crore and took effect on October 9, 2023.
Bank of Baroda is offering interest rates of up to 7.4% p.a. for general citizens and up to 7.9% p.a. for senior citizens, including an additional 0.5% p.a. for senior citizens and 0.15% for non-callible deposits. The bank has also realigned interest rates on its Tiranga Plus Deposit Scheme for 399 days, with senior citizens earning 7.8% p.a. on non-callable deposits under the scheme.
Bank of Baroda offers the highest interest rate on fixed deposits for senior citizens in India, compared to SBI and other leading banks. Bank of Baroda is offering senior citizens one of the best interest rates in the industry on fixed deposits with a 2 to 3-year tenor, at 7.90% p.a.
Bank of Baroda's festive campaign "BOB Ke Sang Tyohaar Ki Umang" runs until December 31, 2023, and has received an encouraging response from customers. In addition to the new schemes, customers can now earn higher interest on their deposits, following Bank of Baroda's previous retail term deposit interest rate increases in May and March 2023.
Existing and new Bank of Baroda customers can open a new FD at any branch across India to take advantage of this offer. Existing customers can also open an FD online using the bank's mobile app (bob World) or net banking (bob World Internet).