Bank of Baroda hikes FD rates, offering 7.5 percent return on THESE fixed deposits; Check return calculator

Bank of Baroda Fixed Deposit Interest Rate 2022: Public sector lender Bank of Baroda (BoB) has not only hiked its fixed deposit interest rates but is also offering a return of up to 7.5 per cent under its special fixed deposit. The BoB has increased its fixed deposit interest rates by up to 100 basis points with effect from November 14. The bank has hiked fixed deposit interest rates on deposits below Rs 2 crore as well as on bulk saving deposits. The rates have also been hiked for senior citizen fixed deposits. 

For deposits below Rs 2 crore, the bank is now offering 3 per cent (3.5% for senior citizens) return on fixed deposits with a maturity tenure of 7 days to 45 days, 4.5 per cent (5% for senior citizens) on FDs for 46 days to 180 days, 5.25 per cent (5.75% for senior citizens) on FDs for 181 days to 270 days, 5.5 per cent (6% for senior citizens) on FDs for 271 days and less than one year, 6.1 per cent (6.6% for senior citizens) on FDs for one year to two years, 6.25 per cent on fixed deposits for a tenure of above 2 years to up to 3 years and 6.1 per cent on FDs for above 3 years to 10 years and more. Senior citizens will get an additional interest of 0.5 per cent on the fixed deposits. 

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However, senior citizens will get an interest rate of 6.75 per cent for FDs with a maturity tenure of 2 years to 5 years and 6.9 per cent on FDs for 5 years to 10 years.

Under the Bank of Baroda Tiranga Plus Deposit Scheme, the bank is offering a maximum return of 7.5 per cent on non-callable fixed deposits of 399 days to senior citizens while a 7.25 per cent return is being offered on callable fixed deposits for the tenure of 399 days. For the general public, the rate of interest is 6.75 per cent on callable deposits and 7 per cent on non-callable deposits for 399 days. Callable deposits allow premature withdrawal while non-callable cannot be withdrawn before the maturity tenure.

Bank of Baroda FD Interest Rates Calculator 2022
If you are a senior citizen and plan to invest Rs 2 lakh in Tiranga Plus Deposit, you will earn a return of Rs 18,000 and the maturity amount will be around Rs 2,18,000. If you invest in a normal fixed deposit plan for one year, you will earn a return of Rs 13,530 and the maturity amount will be Rs 2,13,530.