Leading public sector lender Bank of Baroda (BoB) launched a new scheme “Baroda Tiranga Plus Deposit Scheme”, with higher standard interest rates of up to 7.5% p.a. for 399 days with effect from November 1. This includes 0.5% for senior citizens and 0.25% for non-callable deposits.
The Executive Director of Bank of Baroda, Shri Ajay K. Khurana 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.
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“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.”
The Baroda Tiranga Plus Deposit Scheme of 399 Days will see BoB offer an interest rate of 6.75% for the general public, 7.25% for senior citizens under callable options and non-callable, the general public, NRE.NRO depositors will get a 7% interest rate and senior citizens will be getting a 7.5% interest rate.
The Bank’s Baroda Advantage Retail Term Deposit Scheme (Non-Callable) has seen the interest rates hiked by 10 basis points due to the raising of Non-Callable Premium from 015% per annum to 0.25% per annum.
According to their official website, the interest rates for BoB’s new Baroda Tiranga deposits have been in effect since November 1 and the scheme comes with two specific tensors of 444 and 555 days. The callable deposits maturing in 444 days will see BoB offering a 5.75% interest rate to the general public and a 6.25% interest rate for senior citizens whereas the callable deposits maturing in 555 days will see standard interest rates of 6.00% and 6.05% for senior citizens.
The non-callable deposits maturing in 444 days will fetch standard interest rates of 6.00% and 6.05% for senior citizens whereas those maturing in 555 days will fetch interest rates of 5.25% for the general public and 6.75% for senior citizens under the old scheme of Baroda Tiranga Deposit at BoB.
Punjab & Sind Bank Savings Account Interest Rates:
Punjab & Sind Bank is offering an interest rate of 2.80% on deposits up to Rs 1 crore in Savings Account. From Rs 1 crore to Rs 100 crore, it is now offering an interest of 2.90%. Apart from this, the interest rate of 4.50% is above Rs 100 crore up to Rs 500 crore, while on the amount above Rs 500 crore, the bank is now giving an interest rate of 5.00%.
Punjab and Sind Bank will now offer an interest rate of 2.80% on FDs maturing in 7 to 30 days. Similarly, the interest rates for FDs of 31 to 45 days will be 3.0%, for 46 to 90 days will be 4.00% and FDs for 91 to 120 days will get an interest rate of 4.20%. Also, the bank is now offering an interest rate of 5.00% on FDs maturing in 270 to 364 days. At the same time, 6.10% for FDs of 1 to 2 years, 6.25% for FDs up to 3 years and 6.10% for FDs maturing in 3 years to 10 years.
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