Bank of Baroda customers will get more benefit, will get more interest on FD

Bank of Baroda customers will get more benefit, will get more interest on FD

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Bank of Baroda FD rates: Bank of Baroda has revised the interest rates on fixed deposits. Senior citizens get an additional interest of 0.50 percent on domestic fixed deposits.

Public sector lender Bank of Baroda (Bank of Baroda-BoB) has revised interest rates on fixed deposits with effect from February 25. After this amendment, the new FD interest rates of Bank of Baroda have gone up from 2.80 percent to 5.25 percent for maturity between 7 days to 10 years.

Bank of Baroda offers 2.80 percent interest on FDs maturing in 7 days to 45 days. In the new rates, interest of 3.7 percent will be available on maturity from 46 days to 180 days and 4.30 percent on maturity from 181 to 270 days. The interest rate on FDs maturing in 271 days or more but less than 1 year is 4.4%

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The interest rate for deposits maturing in one year is 5 per cent. The interest rate on deposits for a period of more than 1 year and up to three years is 5.1 percent. 5.25 percent interest is available on FDs above 3 years and up to 5 years. Bank of Baroda is offering 5.25 percent interest for FDs maturing above 5 years and up to 10 years.

The bank gives higher interest on FDs for senior citizens. Senior citizens get an additional interest of 0.50 per cent on fixed deposits of less than Rs 2 crore for all tenors.

Private banks are giving more interest
Small private banks are giving interest at the rate of 7 percent on three-year FD for senior citizens. These include Bandhan Bank and Yes Bank. In these banks, at present, an interest rate of 7 per cent is available on FDs of three years duration for senior citizens. By investing an amount of one lakh here, your money will increase to Rs 1.23 lakh in three years.

Tags: Bank FD, Bank of Baroda, FD Rates, Fixed deposits

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