Bank of Baroda Introduces Baroda Tiranga Plus Deposit Scheme

Offers Maximum 7.50% p.a. for 399 Days

Hyderabad, November 2, 2022: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the launch of the Baroda Tiranga Plus Deposit Scheme, offering higher interest rates up to 7.50% p.a. for 399 days with effect from 1st November 2022, which includes 0.50% p.a. for senior citizens and 0.25% for non-callable deposits. The scheme is applicable on retail term deposits below Rs 2 crore.

The Bank has also increased the premium on Non-Callable Retail Term Deposits from 0.15% p.a. to 0.25% p.a. Hence, non-callable deposits will now receive 0.25% p.a. extra.

Baroda Tiranga Plus Deposit Scheme w.e.f. 01.11.2022

Callable

Non-Callable

(Rs 15.01 lakh to less than Rs 2 crore)

Tenor

General/NRE/NRO

Senior Citizens

General/NRE/NRO

Senior Citizens

399 days

6.75% p.a.

7.25% p.a.

7.00% p.a.

(6.75 + 0.25)

7.50% p.a.

(6.75 + 0.25 + 0.50)

Shri Ajay K. Khurana, Executive Director, Bank of Baroda said, “In a rising interest rate environment, we are pleased to offer a higher interest rate to consumers so that they earn more on their savings. The Baroda Tiranga Plus Deposit Scheme offers higher interest rates and assured returns. On our Non-Callable Deposits, the Bank has also decided to increase the Non-Callable Premium from 0.15% to 0.25% on retail term deposits, providing further benefits to customers.”

By increasing the Non-Callable Premium from 0.15% p.a. to 0.25% p.a., the interest rates on the Bank’s Baroda Advantage Retail Term Deposit Scheme (Non – Callable) have increased by 10 basis points.

Baroda Advantage Fixed Deposit (Domestic including NRO, NRE (TD)) Accounts (Non-Callable – Additional 25bps over Callable rates) – Rs 15.01 lakh to less than Rs 2 crore

Tenors

Old Rates

Revised Rates

(w.e.f. 01.11.2022)

Revised Rates for Senior Citizens

(w.e.f. 01.11.2022)

1 Year

5.65

5.75

6.25

Above 1 Year to 400 Days

5.65

5.75

6.25

Above 400 Days to 2 Years

5.65

5.75

6.25

Above 2 Years to 3 Years

5.70

5.80

6.30

Above 3 Years to 5 Years

5.80

5.90

6.55

Above 5 Years to 10 Years

5.80

5.90

6.90

444 Days

5.90

6.00

6.50

555 Days

6.15

6.25

6.75