Bank of Baroda fixed deposit rates latest

Bank of Baroda fixed deposit rates latest: Bank of Baroda FD Intrest: If you have got fixed deposit (FD) in banks to secure your savings, then there is news of work for you. A public sector bank has announced to increase in the interest rates on FD, which has surprised the customers. It is still considered the safest to get Fixed Deposits (FDs) in banks for safe savings. The reason for this is the good interest available on FDs, which motivates people to invest money in it.

Now good news has come out for those who have made FD in the bank. The public sector Bank of Baroda has announced a hike in interest rates on fixed deposits.

Bank of Baroda fixed deposit rates latest
Bank of Baroda fixed deposit rates latest

Bank of Baroda hikes interest rates on FDs

Let us tell you that the Reserve Bank of India (RBI) has recently increased the repo rate. Since then, banks have also started increasing interest rates. Banks are now increasing the interest rates on loans as well as increasing the rates on deposits in them. That is, if you are incurring some loss due to increasing interest rates, then there is also some benefit. In this episode, now Bank of Baroda has also announced an increase in the interest rates on FD. According to the announcement made by BoB, now interest will be available at the rate of 5.30 percent on FDs that are completed in 1 year.
At the same time, interest on FD of 1 to 2 years will continue to be available at the rate of 5.45 percent as before. If we talk about FD of 2 to 3 years, then there will be a discount of 5.50 percent on it. Whereas the interest rate on FDs with a tenure of 3 to 10 years has been increased from 5.35 percent to 5.50 percent.

Will get more interest on short-term deposits

The bank has also announced to increase in interest rates on short-term FDs. Now the interest rates of FDs maturing in 7 to 45 days have been increased from 2.80 percent to 3.00 percent. At the same time, the interest rates of FDs which are to be completed in 46 to 180 days have been increased from 3.70 percent to 4.00 percent. Apart from this, the bank will now pay interest at the rate of 4.65 percent instead of 4.30 percent from 181 days to 270 days on fixed deposits. At the same time, deposits of 271 days to 1 year will also get interested at the rate of 4.65 percent.

Bank of Baroda hiked interest rates from July 28

According to the announcement of the Bank of Baroda (BoB), the increased interest rates of FD have come into effect from Thursday, July 28. The bank has increased these interest rates for FDs with deposits less than Rs 2 crore. According to the announcement of the bank, now it is giving interest rates from 3 to 5.50 percent for the general public and 3.50 percent to 6.50 percent for senior citizens. Let us tell you that before the Bank of Baroda, many other banks including Punjab and Sind Bank, Indian Overseas Bank, Axis Bank, SBI, and IDBI have also announced to increase their FD interest rates.

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