FD Rates: Bank of Baroda is giving up to 7.80% interest on FD, who can avail?

highlights

Bank of Baroda increased the interest rate of the special scheme up to 7.80 percent.
Only senior citizens will be able to get the benefit of this interest rate.
The maximum interest rate for the common people has reached 7.50 percent.

new Delhi. Bank of Baroda (BOB) has increased the interest rate on FDs to senior citizens by up to 65 basis points. Now the bank is giving up to 7.8 per cent interest on FDs of less than Rs 2 crore to senior citizens. However, this interest is being received on its special FD ‘Baroda Tricolor Plus Deposit Scheme’. Senior citizens are being given a maximum of 7.55 percent interest on common FDs and 0.25 percent additional interest on non-callable FDs. This scheme of the bank is for 399 days. The bank has increased the interest rates on common FDs in all tenors.

The increased interest rates have come into effect from 26 December 2022. The bank is now giving a maximum interest of 6.75 per cent to the common people on FDs of less than Rs 2 crore. Significantly, the maximum interest rate is available in the Tricolor Plus scheme. This is a limited period FD scheme. It has three tenors. 444 days, 555 days and 399 days. Maximum interest is being given only on FDs of 399 days.

read this also- Taking loan from LIC Housing Finance will be expensive, increased interest rates on home loans

Tiranga Scheme Interest Rates
Common people are getting 6.75 and senior citizens are getting 7.25 percent interest on the 444-day tenor scheme. The same interest rates are applicable on FD of 555 days. At the same time, common people are getting 7.05 percent interest and senior citizens are getting 7.55 percent interest on 399-day tricolor scheme FD. If this FD is made non-callable, then common people are getting 7.30 percent interest and senior citizens are getting 7.80 percent interest on the 399-day tricolor scheme. The bank has given this information on its website.

Normal FD interest rates
On normal FDs, the bank is giving interest ranging from 3% to 6.25% to common people and 3.50% to 6.75% to senior citizens. In normal FDs, maximum interest is available on FDs of 1 year, more than 1 year and 400 days, more than 400 days to 2 years and more than 2 years to 3 years. On these tenors, the bank is giving 6.75 per cent interest to common people and 7.25 per cent to senior citizens. The bank had increased its FD interest rates by 100 basis points or 1 per cent only last month.

Tags: Bank FD, Bank of Baroda, business news, earn money, FD Rates, Fixed deposits

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