Bank of Baroda hikes interest rate on savings and fixed deposits, new rates come into effect from February 25
Bank of Baroda has increased the interest rate on savings and fixed deposits. The new rate has come into effect from February 25.
The interest rates on fixed deposits are in the range of 2.8 per cent to 5.25 per cent.
State Bank Of India ,State Bank of India, HDFC bank ,HDFC Bank) and after ICICI Bank Bank Of Baroda ,Bank of Baroda) has changed the interest rate for fixed deposits. Bank from February 25 fixed deposit ,Fixed Deposits) has increased the interest rate. Now it is in the range of 2.8 per cent to 5.25 per cent. Talking about the tenure, it is applicable for 7 days to 10 years. This is for fixed deposits of less than 2 crores. Apart from this, the interest rate has also been changed for the savings account, which is applicable from 25 February. It ranges from 2.75 per cent to 3.30 per cent.
Talking about the savings account interest rate, 2.75 percent on deposits up to 1 lakh, 2.75 percent from 1 lakh to 100 crores, 2.85 percent up to 100-200 crores, 3.05 percent up to 200-500 crores, 3.25 percent up to 500-1000 crores and 1000 An interest rate of 3.30 percent will be available if it is more than Rs.
Revised Rate of interest on slab wise SB Deposits (wef 25/02/2022) are as under:
| SB deposits outstanding balance | Revised Interest Rates wef 25/02/2022 |
|---|---|
| Up to o/s Rs. 1.00 lakh | 2.75% |
| Above Rs 1.00 Lakh to less than Rs 100 Crores | 2.75% |
| Rs.100 Crore and above to less than Rs.200 Crores | 2.85% |
| Rs 200 crores and above to less than Rs 500 crores | 3.05% |
| Rs 500 crores and above to less than Rs 1,000 crores | 3.25% |
| Rs 1,000 crores and above | 3.30% |
Talking about the latest interest rate on fixed deposits, 2.8 percent for 7-14 days, 2.80 percent for 15-45 days, 3.70 percent for 46-90 days, 3.70 percent for 91-180 days, 181-270 days The interest rate is 4.30 per cent for loans and 2.71 per cent for less than 1 year. 4.40 per cent.
For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) – Below Rs. Two Crore
| Tenors | Below Rs 2 Cr. (wef 25.02.2022) |
|---|---|
| 7 days to 14 days | 2.80 |
| 15 days to 45 days | 2.80 |
| 46 days to 90 days | 3.70 |
| 91 days to 180 days | 3.70 |
| 181 days to 270 days | 4.30 |
| 271 days & above and less than 1 year | 4.40 |
| 1 year | 5.00 |
| Above 1 year to 400 days | 5.10 |
| Above 400 days and upto 2 Years | 5.10 |
| Above 2 Years and upto 3 Years | 5.10 |
| Above 3 Years and upto 5 Years | 5.25 |
| Above 5 Years and upto 10 Years | 5.25 |
| Above 10 years (for MACT/MACAD Court Order schemes only) | 5.10 |
Interest rates on 1-year term deposits are 5 percent, for more than 1 year and up to 400 days, 5.10 percent, for 400 days to 2 years, 5.10 percent, for more than 2 years and up to 3 years, 5.10 percent, 3 years 5.25 percent for more than 5 years, 5.25 percent for more than 5 years up to 10 years and 5.10 percent for more than 10 years.
For Domestic Term Deposits & NRO Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) Rs. 2 Crore to upto Rs. 10 Crore (wef 25.02.2022)
| Tenors | Rs 2 Cr. to upto Rs 10 Cr. |
|---|---|
| 7 days to 14 days | 2.90 |
| 15 days to 45 days | 2.90 |
| 46 days to 90 days | 2.90 |
| 91 days to 180 days | 3.50 |
| 181 days to 270 days | 3.50 |
| 271 days & above and less than 1 year | 3.50 |
| 1 year | 4.25 |
| Above 1 Year and upto 2 Years | 4.00 |
| Above 2 Years and upto 3 Years | 4.00 |
| Above 3 Years and upto 5 Years | 4.00 |
| Above 5 Years and upto 10 Years | 4.00 |
There is an additional benefit in the interest rate for senior citizens. Senior citizens will get an additional interest rate of 0.50 per cent on FDs up to 5 years. An additional interest rate of 1 per cent will be available on fixed deposits of 5-10 years, which is valid till March 31, 2022. This interest rate is for Indian Resident Senior Citizen only.
read this also, Petrol-diesel may be costlier by Rs 6-8 in March as soon as the assembly elections are over
