Bank of Baroda (BoB) has increased interest rates on retail fixed deposits by 10 basis points to 125 basis points for different maturity tenures. These rates are applicable from today, December 29, for deposits of less than Rs 2 crore.
The increase in rates is largely focused on shorter-term maturity buckets, specifically those less than 1 year. Increasing interest rates in shorter-term maturities will not only greatly benefit depositors who keep deposits for shorter maturities.
Ravindra Singh Negi, Chief General Manager – Retail Liabilities & NRI Business, Bank of Baroda said, “The decision to increase retail term deposit rates underscores Bank of Baroda’s commitment to offering higher value to our customers, while strategically managing our deposit portfolio. We believe this step will not only attract more customers as they earn more on their savings, but will also help the Bank optimise its cost of deposits, thereby safeguarding our NIM.”
Bank of Baroda latest FD rates
Day FD Rate
7D to 14D 4.25%
15D to 45D 4.50%
46D to 90D 5.50%
91D to 180D 5.60%
181D to 210D 5.75%
211D to 270D 6.15%
271D to less than 1Y 6.25%
1Y 6.85%
Above 1Y to 400D 6.85%
Above 400D to 2Y 6.85%
Above 2Y to 3Y 7.25%
Above 3Y to 5Y 6.50%
Above 5Y to 10Y 6.50%
Above 10Y (MACAD only) 6.25%
399D (Tiranga Plus) 7.15%
Senior citizens FD Rate
Bank of Baroda offers senior citizens an interest rate ranging from 4.75% to 7.75% on deposits maturing in seven days to ten years.
Union Bank hikes FD rates
Union Bank of India hiked interest rates by up to 25 basis points (bps) on its fixed deposits (FDs) on certain tenures for amounts less than ₹2 crore. These rates are with effect from December 27. After the latest hike, the bank is offering an interest rate ranging from 3% 7.25% on FDs maturing in seven days to ten years.
Day FD Rate
7-14 Days 3.00%
15-30 Days 3.00%
31-45 Days 3.00%
46-90 Days 4.05%
91-120 Days 4.30%
121-180 Days 4.40%
181 Days to < 1 year 5.25%
1 year 6.75%
1 year to 398 Days 6.75%
399 Days 7.25%
400 Days to 2 year 6.50%
2 year to 3 Years 6.50%
3 Year to 5 years 6.50%
5 Years to 10 Years 6.50%
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