Bank of Baroda on Monday, January 15, launched bob 360 Deposit Scheme, a special short-term retail deposit scheme offering interest rates up to 7.60% per annum for 360 days, which includes 0.50% per annum for senior citizens.
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The rate is applicable on retail deposits below ₹2 crore.
Joydeep Dutta Roy, Executive Director, Bank of Baroda said, “bob 360 will help the bank increase its share of short-term retail term deposits and manage its cost of deposits effectively.”
Existing and new customers of Bank of Baroda can open bob 360 through any of the bank’s branches across India, while an online FD can also be opened via the bank’s net banking (bob World Internet) platform.
Existing customers can also open an online FD through the Mobile app (bob World), Bank of Baroda said.
Last month, the lender announced an upward revision in the interest rates on domestic retail term deposits, including NRO term deposits, from 10 basis points to up to 125 basis points on various maturity buckets.
For retail term deposits maturing between seven days to 14 days, the Bank of Baroda offers interest rates starting from 4.25%.
Here are the latest FD rates offered by Bank of Baroda across different tenures:
| Tenors | Residents / General Public | Resident Indian Senior Citizen |
|---|---|---|
| 7 days to 14 days | 4.25% | 4.75% |
| 15 days to 45 days | 4.50% | 5.00% |
| 46 days to 90 days | 5.50% | 6.00% |
| 91 days to 180 days | 5.60% | 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 | 6.25% | 6.75% |
| 360D (bob360) | 7.10% | 7.60% |
| 1 year | 6.85% | 7.35% |
| Above 1 year to 400 days | 6.85% | 7.35% |
| Above 400 days and up to 2 Years | 6.85% | 7.35% |
| Above 2 Years and up to 3 Years | 7.25% | 7.75% |
| Above 3 Years and up to 5 Years | 6.50% | 7.15% |
| Above 5 Years and up to 10 Years | 6.50% | 7.50% |
| Above 10 years (MACT/MACADCourt Order schemes only) | 6.25% | 6.75% |
| 399 Days (Baroda Tiranga Plus Deposit Scheme) | 7.15% | 7.65% |
(Source: Bank of Baroda)
(Edited by : Anshul)
First Published: Jan 15, 2024 2:38 PM IST
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