BOB Fixed Deposit Rates Increased from June 2022. Watch video for full details
Bank of Baroda has increased fixed deposit interest rates on domestic term deposits, including non-resident ordinary (NRO) and non-resident external (NRE) term deposits of below ₹ 2 crore by up to 40 basis points. Revised rates are applicable with effect from June 15, 2022.
The bank will continue to give a 2.80 % interest rate on deposits maturing in 7 to 45 days, and a 3.70 % interest rate on deposits maturing in 46 to 180 days. Fixed deposits maturing in 181 days to 270 days will earn a 4.30 % interest rate & deposits maturing in 271 days or more and less than a year will get a 4.40 % interest rate. Fixed deposits of one year will continue to get 5.00 % & fixed deposits of one to two years will earn 5.45 %. Bank of Baroda will give an interest rate of 5.50 % on deposits of more than 2 years and up to 3 years. The bank will continue to offer a 5.35 % interest rate on term deposits maturing in above 3 Years and up to 5 Years and above 5 Years and up to 10 Years.
Interest rates have also been hiked on saving deposits of Rs 100 crore and above to less than Rs 200 crore and ₹ 500 crore and above by bank of baroda.
The increase in rates by Bank of Baroda has come after the Reserve Bank of India (RBI) increased the repo rate . RBI had hiked the repo rate by 0.50 % to 4.90 per cent.