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