Bank of Baroda Increases Interest Rates on Retail Term Deposits by up to 30 basis points on select tenors
Interest Rates hiked on the Baroda Tiranga Plus Deposit Scheme as well – Baroda Tiranga Plus now offers up to 7.90% p.a. for 399 Days
Bank of Baroda (Bank), one of India’s leading public sector banks, today announced an increase in interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by up to 30 basis points on select tenors. These rates are applicable on deposits below Rs 2 crore, with effect from May 12, 2023.
Interest rates have also been hiked on the Baroda Tiranga Plus Deposit Scheme. The 399 Day Baroda Tiranga Plus deposit scheme now offers interest rates up to 7.90% p.a., which includes 0.50% p.a. for senior citizens and 0.15% for non-callable deposits.
Bank of Baroda has earlier increased retail term deposit interest rates in March 2023 and in December 2022.
Existing and new customers of Bank of Baroda can open a FD through any of the Bank’s branches across India. An online FD can also be opened by existing customers via the Bank’s Mobile app (bob World)/ Net Banking (bob World Internet).
Bank of Baroda’s Revised Fixed Deposit Interest Rates for the following Time Buckets:
| Domestic Term Deposits, including NRO, below Rs 2 crore (Fresh & Renewal) – (Callable) w.e.f. 12.05.2023 | |||||
| Tenors | Resident/ General Public | Resident Indian Senior Citizen | Increase by | ||
| Old Rate (% p.a.) | New Rate (% p.a.) (w.e.f. 12.05.2023) | Old Rate (% p.a.) | New Rate (% p.a.) (w.e.f. 12.05.2023) | ||
| Above 2 Years to 3 Years | 6.75 | 7.05 | 7.25* | 7.55* | +30bps |
| Baroda Tiranga Plus – 399 Days | 7.05 | 7.25 | 7.55* | 7.75* | +20 bps |
| (* incl. additional ROI 0.50%) |
| For NRE Term Deposits (Rupee) (Callable) ROI for amount below Rs 2 crore (Fresh and Renewal) w.e.f. 12.05.2023 | |||
| Tenors | Old Rate (% p.a.) | New Rate (% p.a.) (w.e.f. 12.05.2023) | Increase by |
| Above 2 Years to 3 Years | 6.75 | 7.05 | +30 bps |
| Baroda Tiranga Plus – 399 Days | 7.05 | 7.25 | +20bps |
| Baroda Advantage Fixed Deposits (Domestic including NRO, NRE (TD) Accounts (Non- Callable)) ROI in % (Minimum Single Deposit ₹15.01 lakh & below ₹ 2 Crore) w.e.f. 12.05.2023 [Fresh & Renewal | |||||
| Tenors | Resident/ General Public | Resident Indian Senior Citizen | Increase by | ||
| Old Rate (% p.a.) | New Rate (% p.a.) (w.e.f. 17.03.2023) | Old Rate (% p.a.) | New Rate (% p.a.) (w.e.f. 17.03.2023) | ||
| Above 2 Years to 3 Years | 7.00 | 7.30 | 7.50* | 7.80* | +30bps |
| Baroda Tiranga Plus – 399 Days | 7.30 | 7.40 | 7.80* | 7.90* | +10bps |
| (* incl. additional ROI 0.50%) |
