Bank of Baroda (Bank), one of India’s leading public sector banks, announced an increase in interest rates on Domestic Retail Term Deposits, including NRO and NRE Term Deposits, by 25 basis points on select tenors. These rates are applicable on deposits below Rs 2 crore, with effect from March 17, 2023.
Interest rates have also been hiked on the Baroda Tax Savings Term Deposit as well as Baroda Advantage Fixed Deposit, a Non-Callable Retail Term Deposit Scheme. Bank of Baroda has earlier increased retail term deposit interest rates in December 2022 by up to 65 bps and in November 2022 by up to 100 bps.
Existing and new customers of Bank of Baroda can open a FD through any of the Bank’s branches across India. An online FD can also be opened by existing customers via the Bank’s Mobile app (bob World)/ Net Banking (bob World Internet).