On Friday, Bank of Baroda raised interest rates on selected tenors of domestic retail term deposits, including NRO and NRE term deposits, by 25 basis points.
The rates are effective for deposits under Rs 2 crore starting on March 17, 2023, according to a statement from the public sector lender.
The interest rates on the Baroda Tax Savings Term Deposit and Baroda Advantage Fixed Deposit, two non-callable retail term deposit programs, have also increased, according to the institution.
The new rate for deposits older than three years and up to five years is 6.5%; for senior Indian citizens who are residents, it is 7.15%.
For term deposits of 5 years to 10 years, the new rate is 6.5% and for senior persons, it is 7.5%.
Retail term deposit interest rates had already been raised by the Bank of Baroda by up to 65 basis points in December 2022 and up to 100 basis points in November 2022.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.