Interest rates at your own government bank have gone up, so you can get more returns with FD. What will be the benefit now?

New Delhi. Many banks have increased their interest rates on FDs. This has also increased people’s attraction to FD. If you are also planning to get FD from a government bank then this news will be useful for you. Public lender Bank of Baroda has hiked interest rates on domestic fixed deposits by up to 30 basis points for select maturities. This also includes NGO and NRE fixed deposits (FD). Also, the bank has increased interest rates on its Baroda Tiranga Plus deposit scheme (Baroda Tiranga Plus Deposit Scheme), which has a term of 399 days.

On deposits of less than Rs 2 crore, the bank pays 7.25% interest to ordinary people and 7.75% to seniors. These rates used to be 7.05% and 7.55% respectively. The new tariffs came into force on May 12th. The bank had previously increased fixed-term deposit rates in March and December 2022.

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Find out how great the interest in FD is at the moment
The bank offers an interest rate of 3 percent for deposits with a maturity of 7 to 45 days. FDs with a term of 46 to 180 days bear interest at 4.5 percent. The bank pays 4.5 percent interest on FDs with maturities between 181 and 210 days. Fixed-term deposits with a term of 211 days or less bear interest at 5.75 percent. The bank pays interest of 6.75 percent for fixed-term deposits with a term of between one and two years.

Interest rate for seniors
The bank offers seniors an interest rate of 3.5 percent on deposits with a maturity between 7 and 45 days. An interest rate of 5 percent is paid for FDs with a term of 46 to 180 days. Deposits with a term of 181 to 210 days bear interest at 5.75 percent. Seniors receive an interest rate of 6.25 percent on deposits with a maturity of 211 days or less. For fixed-term deposits with a term of between one and two years, seniors receive an interest rate of 7.25 percent.

The Bank of Baroda offers an interest rate of 7.25 percent for ordinary citizens and 7.75 percent for seniors under the Baroda Tricolor Plus (399 days) deposit program. The bank offers an interest rate of 6.25 percent for private citizens and 6.75 percent for seniors on FDs with a term longer than 10 years. For FDs longer than five years and up to ten years, the bank offers an interest rate of 6.5 percent for ordinary people and 7.50 percent for seniors. For FDs over 2 years and up to 3 years, the bank offers an interest rate of 7.05 percent for ordinary people and 7.55 percent for seniors.

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Tags: Bank FD, Bank of Baroda, FD prices, fixed deposits