Home Business Bank of Baroda Launches Independence Day Special FD Scheme; Check Interest Rates Here

Bank of Baroda Launches Independence Day Special FD Scheme; Check Interest Rates Here

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Bank of Baroda Launches Independence Day Special FD Scheme; Check Interest Rates Here

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Bank of Baroda Special FD: To mark 75 years of India’s independence, several banks have been launching special schemes. Jumping into the bandwagon, public sector lender Bank of Baroda on Tuesday launched a special fixed deposit scheme, the Baroda Tiranga Deposit Scheme. Under this, the Bank of Baroda will offer two tenor buckets of 444 days and 555 days, where investors will get up to 6 per cent interest rates.

“The Baroda Tiranga Deposits are available in two tenor buckets – offering interest rates of 5.75 per cent p.a. for 444 days and 6.00 per cent p.a. for 555 days. The scheme opens on 16th August up till 31st December, 2022 and is applicable on retail deposits below Rs 2 crore,” said Bank of Baroda in a statement.

Senior citizens will earn 0.50 per cent interest rates over this, while non-callable deposits will get 0.15 per cent extra interest.

“As India marks 75 years of independence, we are delighted to give consumers one more reason to celebrate. The Baroda Tiranga Deposit Scheme offers a higher rate of interest and the flexibility to choose from two tenures, backed by one of India’s leading and most trusted banks,” Ajay K. Khurana, Executive Director, Bank of Baroda, said in the statement.

The lender had recently hiked its fixed deposit interest rates on general tenors.

Here are the general interest rates (per annum) on fixed deposits below Rs 2 crore at the Bank of Baroda effective from July 28:

7 days to 14 days – For General Public: 3.00 per cent; For Senior Citizens: 3.50 per cent

15 days to 45 days – For General Public: 3.00 per cent; For Senior Citizens: 3.50 per cent

46 days to 90 days – For General Public: 4.00 per cent; For Senior Citizens: 4.50 per cent

91 days to 180 days – For General Public: 4.00 per cent; For Senior Citizens: 4.50 per cent

181 days to 270 days – For General Public: 4.65 per cent; For Senior Citizens: 5.15 per cent

271 days & above and less than 1 year – For General Public: 4.65 per cent; For Senior Citizens: 5.15 per cent

1 year – For General Public: 5.30 per cent; For Senior Citizens: 5.80 per cent

Above 1 year to 400 days – For General Public: 5.45 per cent; For Senior Citizens: 5.95 per cent

Above 400 days and up to 2 years – For General Public: 5.45 per cent; For Senior Citizens: 5.95 per cent

Above 2 years and up to 3 years – For General Public: 5.50 per cent; For Senior Citizens: 6.00 per cent

Above 3 years and up to 5 years – For General Public: 5.50 per cent; For Senior Citizens: 6.00 per cent

Above 5 years to up to 10 years – For General Public: 5.50 per cent; For Senior Citizens: 6.00 per cent

Above 10 years (MACT/ MACAD Court Order schemes only) – For General Public: 5.10 per cent; For Senior Citizens: 5.60 per cent.

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