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BOB launches 'Baroda Tiranga Deposits' offering higher interest rates

The scheme opens for subscription on August 16, 2022, and will remain open till December 31, 2022.

August 16, 2022 2:45 IST | India Infoline News Service
Bank of Baroda announced the launch of the Baroda Tiranga Deposit Scheme, a special term deposit product offering higher interest rates. The Baroda Tiranga Deposits are available in two tenor variants– offering interest rates of 6.00% p.a. for a period of 555 days, and 5.75% p.a. for a period of 444 days.

The scheme opens for subscription on August 16, 2022, and will remain open till December 31, 2022. The said scheme is applicable for retail deposits below Rs 2 crore.

Further, the scheme aims to provide an additional 0.50% p.a. to Senior Citizens, so the effective rate becomes 6.25% for callable deposits. While Non-Callable Deposits will be given 0.15% p.a. extra.

"As India celebrates 75 years of independence, we are delighted to add to this celebration of our consumers," said Ajay K. Khurana, Bank of Baroda’s Executive Director.

He added, “The Baroda Tiranga Deposit Scheme is supported by one of India's leading and most trusted banks. It offers a higher rate of interest and the flexibility to choose between two tenures."

Bank of Baroda customers can open an online FD through Mobile using bob World.

At around 2.48 PM, Bank of Baroda was trading at Rs121.80 down by Rs1.35 or 1.1% from its previous closing of Rs123.15 on the BSE.

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