Friday, February 23rd, 2024

FD of this government bank became more attractive, interest rates increased by 0.50%

Photo:PIXABAY fixed deposit

Making FD in public sector Bank of Baroda has now become more attractive for investors than before. The bank has increased the interest rates on fixed deposits by 0.50 percent. This increase has been made for different periods up to 3 years. New rates (Bank of Baroda FD Interest rate) Rates are applicable for deposits less than Rs 2 crore from October 9, 2023. According to Livemint news, the bank is offering interest rates up to 7.40 percent per annum. Senior citizens can now earn up to 7.90 percent interest on FD.

Change in interest rates on Tricolor Plus Deposit Scheme

According to the news, Bank of Baroda has also changed the interest rates on its Tricolor Plus Deposit Scheme for 399 days. Senior citizens will get 7.80 percent interest annually. Bank of Baroda had earlier increased retail term deposit interest rates in May 2023 and March 2023. Additionally, the Bank has increased bulk deposit interest rates (for deposits ranging from ₹2 crore to ₹10 crore) by up to 1 per cent for various tenures.

Private banks have also made changes
To open FD in Bank of Baroda, existing and new customers can open a new FD in any branch of the bank. Online FD can also be opened by existing customers through the Bank’s Mobile App (BOB World)/Net Banking (BOB World Internet). Private sector banks Yes Bank and HDFC Bank have cut fixed deposit interest rates on select tenures for deposits below ₹2 crore. IndusInd Bank and Punjab & Sind Bank have also changed the FD interest rates on their fixed deposits in October 2023.

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