Bank of Baroda hikes fixed deposit (FD) interest rates: Check new rates

Bank of Baroda has increased the interest rates on its fixed deposits (FDs) of up to Rs 2 crore. Following the change, the FD interest rates can go up to 7.25 per cent for the general public. Bank of Baroda hikes fixed deposit (FD) interest rates: Check new rates.

Senior citizens can earn up to 7.75 per cent on fixed deposits in the Bank of Baroda. The revised interest rates on fixed deposits are effective from May 12, 2023. Bank of Baroda (Bank), recently announced an increase in interest rates on fixed deposits (FDs), by up to 30 basis points on select tenors.

These rates are applicable on deposits below Rs 2 crore, with effect from May 12, 2023. Interest rates have also been hiked on the Baroda Tiranga Plus Deposit Scheme. The 399 Day Baroda Tiranga Plus deposit scheme now offers interest rates up to 7.90% p.a., which includes 0.50% p.a. for senior citizens and 0.15% for non-callable deposits.

After the latest hike, the Bank of Baroda offers an interest rate ranging from 3% to 7.25% to general customers and 3.5% to 7.75% to elderly people.

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SBI fixed deposits interest rates:

SBI FDs between 7 days to 10 years will give 3% to 7.1% to general customers. Senior citizens will get 50 basis points (bps) extra on these deposits. The interest rate offered by India’s largest lender State Bank of India on deposits of one year to less than two years is 6.8 per cent.

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SBI’s interest rate on deposits of two years to less than three years is 7 per cent. These rates are effective from 15 February 2023.