bank of baroda fd interest rate bank of baroda hikes fd interest rates by 50 bps know details

New Delhi: The Monetary Policy Committee of the Reserve Bank of India has not made any change in the repo rate. The repo rate remains stable at 6.50 percent. Here, the government sector Bank of Baroda has increased the interest rates on fixed deposits i.e. FD (BOB FD Interest Rate). The bank has announced an increase in interest rates on domestic retail fixed deposits including NRO and NRE fixed deposits by up to 50 basis points over various tenures. According to the official website of the bank, the new FD rates are effective from today i.e. 9 October 2023. These are applicable to deposits of less than Rs 2 crore. The bank had earlier revised its FD rates on May 12, 2023.

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How much interest will you get?

The bank is offering interest rates up to 7.40 percent per annum for general citizens. Whereas senior citizens will get interest up to 7.90 percent. The bank has also changed the interest rates on its Tricolor Plus Deposit Scheme for 399 days. In this, senior citizens will get 7.80 percent interest annually. The bank is offering 3 percent interest rate on FD kept for 7 days to 14 days. The interest rate on FD of 15 to 45 days has been increased by 50 basis points to 3.50 percent. The interest rate on FDs maturing in 46 to 180 days has been reduced to 5 percent. The interest rate on FDs of 181 to 210 days has now been increased to 5.50 percent. At the same time, the interest rate on deposits maturing between 211 to 270 days has been reduced to 6 percent.

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You will get benefit by getting FD

The bank will continue to offer 6.75 percent interest rate on FDs maturing for two years. The bank has increased the interest rate on FDs maturing in two years and three years by 20 basis points. Now the interest rate for this deadline has gone up to 7.25 percent. The bank is offering 6.50 per cent interest rate on deposits for tenures up to 3 years and 10 years.

About Saurabh Dixit

Saurabh Dixit Senior Digital Content Producer

Saurabh Dixit is Senior Digital Content Producer at NavbharatTimes.com. He contributes to the business section here. He has more than 10 years of experience in journalism. He started journalism in 2016 from Hindustan. Initially worked on reporting in Noida and Ghaziabad. During this period he covered business, education, income tax and crime beat. After this, worked in reporting in Amar Ujala and Ghaziabad desk. In the year 2021, he turned online and joined TV 9 Bharatvarsh.Read More

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