Banks have increased their interest rates
Bank of Baroda has recently increased its interest rates for fixed deposits of less than Rs 2 crore, as mentioned on the official website of the bank. These revised interest rates will be effective from May 12, 2023.
General customers of the bank can now avail a favorable interest rate of 7.25 per cent on their fixed deposits. On the other hand, senior citizens are entitled to a higher interest rate of 7.75 per cent, which provides them with additional benefits.
getting the interest rate so
Under the Baroda Tiranga Plus Deposit Scheme, Bank of Baroda is offering an interest rate of 7.25 per cent to regular citizens and a higher interest rate of 7.75 per cent to senior citizens on fixed deposits of 399 days. Additionally, for fixed deposits above 10 years, ordinary citizens can avail an interest rate of 6.25 per cent, while senior citizens can avail a higher interest rate of 6.75 per cent.
Bank of Baroda is offering 6.5 per cent interest rate on fixed deposits of more than five years but not more than ten years to regular citizens. In contrast, senior citizens get a higher interest rate of 7.50 per cent for the same tenure. Also, for fixed deposits of two years to three years, ordinary citizens can avail an interest rate of 7.05 per cent, while senior citizens are offered a higher interest rate of 7.55 per cent.