 "Bank of Baroda special FD scheme 2022 for senior citizens: Know interest rates, other details")
Bank of Baroda (BoB), the largest lender in the public sector, launched the ‘Baroda Tiranga Plus Deposit Scheme’ which provides higher standard interest rates of upto 7.5 percent per annum for 399 days. The scheme became effective from 1 November. This scheme also provides 0.5 percent per annum for senior citizens and 0.25 percent for non-callable deposits. Ajay K. Khurana, Executive Director, Bank of Baroda, stated that in an increasing interest rate environment, they are glad to offer consumers a higher interest rate so they can earn more on their investments. In addition to higher interest rates, the Baroda Tiranga Plus Deposit Scheme guarantees returns.
To further benefit clients, the bank has also decided to hike the Non-Callable Premium on retail term deposits from 0.15 percent to 0.25 percent. BoB will give an interest rate of 6.75 percent for the general public and 7.25 percent for senior citizens on the Baroda Tiranga Plus Deposit Scheme of 399 Days under the callable option. Under the non-callable option, the general public, NRE/NRO depositors are going to earn an interest rate of 7 percent and senior citizens will get an interest rate of 7.5 percent.
As a result of boosting the Non-Callable Premium from 0.15 percent per annum, the interest rates on the Bank’s Baroda Advantage Retail Term Deposit Scheme (Non-Callable) have risen by 10 basis points to 0.25 percent per annum.
The plan has two different tenors, which are 444 days and 555 days. BoB is currently providing an interest rate of 5.75 percent to the general public on callable deposits maturing in 444 days and 6.25 percent for senior citizens. Callable deposits maturing in 555 days would receive a normal interest rate of 6 percent and 6.5 percent for senior individuals.
Bank of Baroda is an Indian state-owned international banking and financial services firm, and it is headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It was established by Maharaja Sayajirao Gaekwad III, the Maharaja of Baroda, on 20 July, 1908. Along with 13 other major commercial banks of India, Bank of Baroda was nationalised on 19 July, 1969 by the Government of India.
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