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Business News/ Industry / Bank of Baroda to reduce interest rates of some of its deposit baskets
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Bank of Baroda to reduce interest rates of some of its deposit baskets

The interest rates will be revised for various maturities between six months to up to 10 years

Following the revision, deposits maturing between three years and up to five years will yield 8.50%. Photo: Pradeep Gaur/MintPremium
Following the revision, deposits maturing between three years and up to five years will yield 8.50%. Photo: Pradeep Gaur/Mint

Public sector Bank of Baroda has decided to reduce interest rates of some of its deposit baskets by 15-30 basis points, effective Monday.

One basis point is a hundredth of a percentage point.

The interest rates will be revised for various maturities between six months to up to 10 years, the bank said in a notification to the exchanges. Following the revision, deposits maturing between three years and up to five years will yield 8.50%, the highest offered by bank.

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Published: 25 Apr 2015, 12:32 AM IST
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