Bank of Baroda hikes interest rates on FDs: Check details here

Public sector lender, Bank of Baroda (BOB) has increased interest rates on fixed deposits below Rs 2 crore. The new rates come in effect from today, July 28, 2022, the bank's official website informed on Thursday.

The bank increased the interest rate on fixed deposits maturing in 7 days to 45 days from 2.80 per cent to 3.00 percent, and on term deposits maturing in 46 days to 180 days from 3.70 per cent to 4.00 percent. In case of deposits maturing from 181 days to 270 days, BOB will offer an interest rate of 4.65 per cent, up from 4.30 percent, a hike of 35 basis points and BoB will now offer an interest rate of 4.65% which was earlier 4.40% a hike of 25 bps on deposits maturing in 271 days & above and less than 1 year, the website mentioned.

The public lender will continue to provide an interest rate of 5.50 percent on fixed deposits maturing in more than two years and up to 3 years, while the interest rate on term deposits maturing in more than 3 years and up to ten years has increased from 5.35 percent to 5.50 percent.

Further, the bank has also increased interest rates on a range of tenors. Now the FD interest rate will range from 3.00 percent to 5.50 percent for the general public and 3.50 percent to 6.50 percent for senior citizens.

Shares of Bank of Baroda on Thursday closed 0.55 per cent lower at Rs 117.55 apiece on BSE.