Bank of Baroda introduces Baroda Tiranga Plus Deposit Scheme offers maximum 7.50 per cent p.a. for 399 days

 

Hyderabad, November 2, 2022: Bank of Baroda (Bank), one of India’s leading public sector banks, today announced the launch of the Baroda Tiranga Plus Deposit Scheme, offering higher interest rates up to 7.50% p.a. for 399 days with effect from 1^st November 2022, which includes 0.50% p.a. for senior citizens and 0.25% for non-callable deposits. The scheme is applicable on retail term deposits below Rs 2 crore.

 

The Bank has also increased the premium on Non-Callable Retail Term Deposits from 0.15% p.a. to 0.25% p.a. Hence, non-callable deposits will now receive 0.25% p.a. extra.

 

 

Ajay K. Khurana, Executive Director, Bank of Baroda said, “In a rising interest rate environment, we are pleased to offer a higher interest rate to consumers so that they earn more on their savings. The Baroda Tiranga Plus Deposit Scheme offers higher interest rates and assured returns. On our Non-Callable Deposits, the Bank has also decided to increase the Non-Callable Premium from 0.15% to 0.25% on retail term deposits, providing further benefits to customers.”

 

By increasing the Non-Callable Premium from 0.15% p.a. to 0.25% p.a., the interest rates on the Bank’s Baroda Advantage Retail Term Deposit Scheme (Non – Callable) have increased by 10 basis points.

 

Baroda Advantage Fixed Deposit (Domestic including NRO, NRE (TD)) Accounts (Non-Callable – Additional 25bps over Callable rates) – Rs 15.01 lakh to less than Rs 2 crore
Tenors	Old Rates	Revised Rates (w.e.f. 01.11.2022)	Revised Rates for Senior Citizens (w.e.f. 01.11.2022)
1 Year	5.65	5.75	6.25
Above 1 Year to 400 Days	5.65	5.75	6.25
Above 400 Days to 2 Years	5.65	5.75	6.25
Above 2 Years to 3 Years	5.70	5.80	6.30
Above 3 Years to 5 Years	5.80	5.90	6.55
Above 5 Years to 10 Years	5.80	5.90	6.90
444 Days	5.90	6.00	6.50
555 Days	6.15	6.25	6.75