Bank of Baroda (BoB) has raised its fixed deposit interest rates while also offering a return of up to 7.5 percent under its special fixed deposit. With effect from November 14, the Bank of Japan raised its fixed deposit interest rates by up to 100 basis points. Fixed deposit interest rates on deposits less than Rs 2 crore, as well as bulk saving deposits, have been raised by the bank. Senior citizen fixed deposit rates have also been raised.
For deposits less than Rs 2 crore, the bank is now offering a 3% return on fixed deposits with a maturity period of 7 days to 45 days, 4.5 percent on FDs with a maturity period of 46 days to 180 days, 5.25 percent on FDs with a maturity period of 181 days to 270 days, 5.5 percent on FDs with a maturity period of 271 days and less than one year, 6.1 percent on FDs with a maturity period of one year to two years Senior citizens will receive an additional 0.5% interest on fixed deposits.
Senior citizens, on the other hand, will receive an interest rate of 6.75 percent on FDs with maturities ranging from 2 to 5 years, and 6.9 percent on FDs with maturities ranging from 5 to 10 years.maturities ranging from 5 to 10 years.
The Bank of Baroda Tiranga Plus Deposit Scheme offers a maximum return of 7.5 percent on non-callable fixed deposits of 399 days to senior citizens, while callable fixed deposits of 399 days earn a 7.25 percent return. For 399 days, the general public can earn 6.75 percent on callable deposits and 7.5% on non-callable deposits. Callable deposits allow for early withdrawal, whereas non-callable deposits cannot be withdrawn before the maturity period.
Bank of Baroda FD Interest Rates Calculator 2022
If you are a senior citizen and plan to invest Rs 2 lakh in Tiranga Plus Deposit, you will earn Rs 18,000 in return and the maturity amount will be approximately Rs 2,18,000. If you invest in a standard fixed deposit plan for one year, you will earn Rs 13,530 in interest and Rs 2,13,530 at maturity.