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Hyderabad/ Mumbai, March 17, 2023: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced an increase in interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by 25 basis points on select tenors. These rates are applicable on deposits below Rs 2 crore, with effect from March 17, 2023.
Interest rates have also been hiked on the Baroda Tax Savings Term Deposit as well as Baroda Advantage Fixed Deposit, a Non-Callable Retail Term Deposit Scheme.
Bank of Baroda has earlier increased retail term deposit interest rates in December 2022 by up to 65 bps and in November 2022 by up to 100 bps.
Existing and new customers of Bank of Baroda can open a FD through any of the Bank’s branches across India. An online FD can also be opened by existing customers via the Bank’s Mobile app (bob World)/ Net Banking (bob World Internet).
Bank of Baroda’s Revised Fixed Deposit Interest Rates for the following Time Buckets:
Domestic Term Deposits, including NRO, below Rs 2 crore (Fresh & Renewal) – (Callable) w.e.f. 17.03.2023
Tenors
Resident/ General Public
Resident Indian Senior Citizen
Increase by
Old Rate
(% p.a.)
New Rate
(% p.a.)
(w.e.f. 17.03.2023)
Old Rate
(% p.a.)
New Rate
(% p.a.)
(w.e.f. 17.03.2023)
Above 3 Years to 5 Years
6.25
6.50
6.90
7.15
+25bps
Above 5 Years to 10 Years
6.25
6.50
7.25
7.50
+25bps
For NRE Term Deposits (Rupee) (Callable) ROI for amount below Rs 2 crore (Fresh and Renewal) w.e.f. 17.03.2023
Tenors
Old Rate
(% p.a.)
New Rate
(% p.a.)
(w.e.f. 17.03.2023)
Increase by
Above 3 Years to 5 Years
6.25
6.50
+25bps
Above 5 Years to 10 Years
6.25
6.50
+25bps
Baroda Tax Savings Term Deposit (Fresh & Renewal)
Tenors
Resident/ General Public
Resident Indian Senior Citizen
Increase by
Old Rate
(% p.a.)
New Rate
(% p.a.)
(w.e.f. 17.03.2023)
Old Rate
(% p.a.)
New Rate
(% p.a.)
(w.e.f. 17.03.2023)
For 5 Years
6.25
6.50
6.90
7.15
+25bps
Above 5 Years to up to 10 Years
6.25
6.50
7.25
7.50
+25bps
Baroda Advantage Fixed Deposit (Domestic including NRO, NRE(TD) Accounts) (Non-Callable) ROI in %
(Minimum Single Deposit Rs 15.01 lakh & below Rs 2 Crore) w.e.f. 17.03.2023 (Fresh & Renewal)
Tenors
Resident/ General Public
Including NRO, NRE (TD)
Resident Indian Senior Citizen
Increase by
Old Rate
(% p.a.)
New Rate
(% p.a.)
(w.e.f. 17.03.2023)
Old Rate
(% p.a.)
New Rate
(% p.a.)
(w.e.f. 17.03.2023)
Above 3 Years to 5 Years
6.50
6.75
7.15
7.40
+25bps
Above 5 Years to 10 Years
6.50
6.75
7.50
7.75
+25bps
For details: https://www.bankofbaroda.in/interest-rate-and-service-charges/deposits-interest-rates
About Bank of Baroda:
Founded on 20th July, 1908 by Sir Maharaja Sayajirao Gaekwad III, Bank of Baroda is one of the leading commercial banks in India. At 63.97% stake, it is majorly owned by the Government of India. The Bank serves its global customer base of over 150 million through over 46,000 touchpoints spread across 17 countries in five continents. Through Its state-of-the-art digital banking platforms, it provides all banking products and services in a seamless and hassle-free manner. The recently launched bob World mobile app provides customers with a saving, investing, borrowing, and shopping experience, all under one single app. The app also serves non-customers by enabling account opening through video KYC. The Bank’s vision matches its diverse clientele base and instills a sense of trust and security. It is moving well in that direction and bob World is a testimony of its roadmap towards Digital Transformation.
Visit us at www.bankofbaroda.in
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