Bank of Baroda (BoB), one of the biggest public sector banks, has revised its fixed deposits (FDs) interest rates. The public lender has announced that the new FD interest rates will be applicable from February 10, 2020. As per the new rates, the customers will get 4.50% to 6.25% interest rates on FDs maturing between 7 days and 10 years. The interest rate for FDs maturing in 7 days to 45 days has now been set at 4.50 per cent.
If you opt to park your money for 46 days to 180 days, you will get 5 per cent interest rate while the same has been set at 5.50 per cent for a period between 181 days and less than a year. For deposits maturing in one year and above 1 year to 400 days, Bank of Baroda gives an interest rate of 6 per cent. The highest interest rate is being offered for the tenure between 3 years and up to 5 years. The return for this period has been set at 6.25 per cent.
For deposits maturing in one year and above 1 year to 400 days, Bank of Baroda gives an interest rate of 6%. Above 400 days and up to 2 years and above 2 years and up to 3 years, BoB gives a 6% interest rate. Bank of Baroda is offering the highest rate of 6.25% on FDs with a tenure of above 3 years and up to 5 years. For FDs maturing in above 5 years and up to 10 years, BoB gives 6% interest rate.
7 days to 14 days 4.50%
15 days to 45 days 4.50%
46 days to 90 days 5.00%
91 days to 180 days 5.00%
181 days to 270 days 5.50%
271 days & above and less than 1 year 5.50%
1 year 6.00%
Above 1 year to 400 days 6.00%
Above 400 days and up to 2 years 6.00%
Above 2 years and up to 3 years 6.00%
Above 3 years and up to 5 years 6.25%
Above 5 years and up to 10 years 6.00%
The bank offers a special interest rate on FD for senior citizens. Senior citizens get an additional interest of 0.50% on domestic term deposits of less than ₹2 crores for all tenors.
Country’s top lender State Bank of India (SBI) also cut its FD rates by 10-50 bps while also slashing bulk term deposit rates, attributing the move to surplus liquidity in the system. The latest SBI FD rates are effective from 10 February.