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Business News/ Money / Personal Finance/  Bank of Baroda (BoB) unveils special FD scheme, now offers up to 7.50% return
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Bank of Baroda (BoB) unveils special FD scheme, now offers up to 7.50% return

The leading public sector lender Bank of Baroda (BoB) today launched “Baroda Tiranga Plus Deposit Scheme”, with higher standard interest rates of up to 7.50% p.a. for 399 days with effect from 1st November 2022

The interest rates for Baroda Tiranga Deposit Scheme have also been in effect from 1st November as per the official website of the bank (istock)Premium
The interest rates for Baroda Tiranga Deposit Scheme have also been in effect from 1st November as per the official website of the bank (istock)

The leading public sector lender Bank of Baroda (BoB) today launched “Baroda Tiranga Plus Deposit Scheme", with higher standard interest rates of 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.

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."

Baroda Tiranga Plus Deposit Scheme

On Baroda Tiranga Plus Deposit Scheme of 399 Days, BoB will offer an interest rate of 6.75% for the general public, 7.25% for senior citizens under the callable option, whereas under the non-callable option, the general public, NRE/NRO depositors will get an interest rate of 7% and senior citizens will get an interest rate of 7.50%. The interest rates on the Bank's Baroda Advantage Retail Term Deposit Scheme (Non-Callable) have been hiked by 10 basis points as a result of raising the Non-Callable Premium from 0.15% p.a. to 0.25% p.a.

Baroda Tiranga Plus Deposit Scheme
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Baroda Tiranga Plus Deposit Scheme (bankofbaroda.in)

Baroda Tiranga Deposit Scheme

The interest rates for Baroda Tiranga Deposit Scheme have also been in effect from 1st November as per the official website of the bank. The scheme comes with two specific tenors of 444 days and 555 days. On callable deposits maturing in 444 days, BoB is now offering an interest rate of 5.75% to the general public and 6.25% for senior citizens whereas on callable deposits maturing in 555 Days will fetch a standard interest rate of 6.00% and 6.505 for senior citizens. On non-callable deposits maturing in 444 days, the bank is offering a standard rate of 6.00% and 6.50% for senior citizens whereas those maturing in 555 days will fetch an interest rate of 6.25% for the general public and 6.75% for senior citizens under the old Baroda Tiranga Deposit Scheme at Bank of Baroda.

Baroda Tiranga Deposit Scheme
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Baroda Tiranga Deposit Scheme (bankofbaroda.in)

Interest rates for Baroda Advantage Fixed Deposits of 15 lakh to 2 Cr

On Baroda Advantage Fixed Deposit, the bank has also revised its interest rates on 1st November. On deposits maturing in 1 year to 399 Days, BoB is offering an interest rate ranging from 5.75% to 7.00 for the general public and 6.25% to 7.50% for senior citizens. Baroda Advantage Fixed Deposits maturing in 399 Days will fetch a maximum interest rate of 7.00% for the general public and 7.50% for senior citizens.

Baroda Advantage Fixed Deposits
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Baroda Advantage Fixed Deposits (bankofbaroda.in)

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 02 Nov 2022, 04:27 PM IST
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