Leading public sector banker, Bank of Baroda (BoB) has increased its retail fixed deposit interest rates by a maximum of 100 basis points with effect from November 14. BoB has increased the rates on Bulk Savings Deposits with Fixed Deposits as below. 2 crores for both senior citizens and general category. Apart from this, the interest rates have been revised in the Tiranga Deposit and Tax Savings schemes of BoB.
Check out the latest interest rates:
BOB Savings Deposit:
As of November 14, BoB is now available for wholesale . is offering a rate of 2.75% on savings deposit until 1 lakh and below 50 crore, while the rate has been fixed at 3% on deposits between less than 50 crores 200 crores.
on savings deposits between less than 200 crores 500 crores, the rate is set at 3.05%. Whereas the interest rate on deposits is 3.35% from from 500 crores 1,000 crores and above.
FD below 2 Crore for General Category:
From Monday, BoB is offering 6.10% rate on tenure from 1 year to 2 years and another set of tenures from 3 years to 10 years. Also offered at 6.10% rate FD Above 10 years however they are MACT/MACAD court order scheme only.
BoB is offering 6.25% rate—which is highest for general category–on tenure of 2 years to 3 years.
Further, tenure above 271 days and less than 1 year has an interest rate of – 5.50%, while tenure between 181 days to 270 days has a rate of – 5.25%.
On tenure of 46 days to 180 days, the interest rate has been fixed at 4.50%. Whereas in the short term ranging from 7 days to 45 days, the rate is around 3% per annum.
FD below 2 crore for senior citizens:
Senior citizens get higher rates on their FDs below 2 crores. The highest rate for tenure of 5 years to 10 years will be 6.90%, while the rate from 2 years to above 5 years has been fixed at 6.75%. The bank is offering 6.60% on tenures ranging from 1 year to 2 years. Also, the bank is offering 6.60% rate on the above 10 years tenure (MACT/MACAD – Court Order Schemes only).
In addition, the bank is offering the rate of 6% on 271 days to less than 1 year, 5.75% on 181 days to 270 days and 5% on 46 days to 180 days. Also, the rate is 3.50% on tenures of 7 days to 45 days.
Also, Bank of Baroda said on its website that the additional 50 basis points being paid to senior citizens for term deposits above 5 years to 10 years and 50 basis points beyond the deliberations of the last ALCO meeting. has been reduced to 30 bps and will accordingly be paid at 80 bps (50bps+30bps) with effect from November 14, 2022.
Baroda Tricolor Deposit Scheme:
The bank is offering a callable rate of 6.10% on tenures of 444 days and 555 days for the general category under this scheme, while the rate for senior citizens on these tenures is 6.60%.
The non-callability rate on these tenures is 6.35% for general category and 6.85% for senior citizens.
It needs to be noted that, premature withdrawal is not allowed in this scheme. Also, the minimum deposit is 15.01 lakhs to max 199.99 lakhs.
Baroda Tax Savings Fixed Deposit:
For general category, the bank is offering 6.10% for a tenure of 5 years from November 14 and from 5 years to 10 years.
For senior citizens, the rate is 6.75% for a tenure of 5 years; and 6.90% for 5 years to above 10 years.
Premature withdrawal is not allowed before completion of 5 years except in case of death of the subscriber.
FCNR Rates:
It needs to be noted that the bank has stated on its website that the Foreign Currency Non-Resident Deposit – FCNR (B) latest rates are effective from October 16 to November 15, 2022. FCNR rates vary from 0.10% to 4%. And depend on world currencies. A revision in FCNR rates can be expected on 15th November.
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