Bank of Baroda launches new special FD scheme offering higher interest rates; Check details

FD interest rate up to 7.9%: Bank of Baroda launches new special FD scheme offering higher interest rates; Check details The bank offers FD interest rate between 4.25% to 7.25% for general citizens on tenure between 7 days to 10 years for amounts below Rs 3 crore for callable deposits

Bank of Baroda has launched a new special fixed deposit scheme with higher interest rates known as bob Monsoon Dhamaka Deposit Scheme. The bank has also revised its fixed deposit interest rates.

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bob Monsoon Dhamaka Deposit Scheme details

The bob Monsoon Dhamaka Deposit Scheme is available in two tenor buckets – offering interest rates of 7.25% per annum for 399 days and 7.15% for 333 days. The scheme opens on 15th July, 2024 and is applicable on retail deposits below Rs 3 crore.

According to a Bank of Baroda press release issued on July 15, 2024, “Senior citizens will earn an additional interest rate of 0.50% p.a. – 7.75% p.a. for 399 days and 7.65% p.a. for 333 days. Further, Non-Callable Deposits will get 0.15% extra (applicable on minimum deposits above Rs 1 crore to less than Rs 3 crore). The bob Monsoon Dhamaka Deposit Scheme offers a maximum interest of 7.90% p.a for 399 Days, which includes 0.50% p.a. for senior citizens and 0.15% for non-callable deposits.”

bob Monsoon Dhamaka Deposit Scheme w.e.f. 15.07.2024
	Callable		Non-Callable
			(Deposits above Rs 1 crore to less than Rs 3 crore)
Tenors	Residents/General Public/NRO/NRE*	Resident Senior Citizens	Residents/General Public/NRO/NRE*	Resident Senior Citizens
399 days	7.25% p.a.	7.75% p.a.	7.40% p.a.	7.90% p.a.
			(7.25 + 0.15)	(7.25 + 0.50 + 0.15)
333 days	7.15% p.a.	7.65% p.a.	-	-

*NRE customers can avail the 399 Days bob Monsoon Dhamaka Deposit Scheme and Non-Callable Deposits less than Rs. 2.00 crore only.

Latest Bank of Baroda FD interest rate

The bank offers FD interest rate between 4.25% to 7.25% for general citizens on tenure between 7 days to 10 years for amounts below Rs 3 crore for callable deposits.

enors	Residents / General Public	Resident Indian Sr. Citizen
7 days to 14 days	4.25	4.75*
15 days to 45 days	6	6.50*
46 days to 90 days	5.5	6.00*
91 days to 180 days	5.6	6.10*
181 days to 210 days	5.75	6.25*
211 days to 270 days	6.15	6.65*
271 days & above and less than 1 year (except 333Days and 360 Days)	6.25	6.75*
333 Days (bob Monsoon Dhamaka Deposit Scheme)	7.15	7.65*
360 Days (bob360)	7.1	7.60*
1 year	6.85	7.35*
399 Days (bob Monsoon Dhamaka Deposit Scheme)	7.25	7.75*
Above 1 year to 400 days	6.85	7.35*
Above 400 days and upto 2 Years	6.85	7.35*
Above 2 Years and upto 3 Years	7.15	7.65*
Above 3 Years and upto 5 Years	6.5	7.15 #
Above 5 Years and upto 10 Years	6.5	7.50**
Above 10 years (MACT/MACAD	6.25	6.75*
Court Order schemes only)

This story originally appeared on: India Times - Author:Faqs of Insurances