One of India’s leading public sector banks Bank of Baroda announced the launch of the Baroda Tiranga Deposit Scheme. This is a special term deposit product which offers higher interest rates on retail deposits below Rs 2 crore.
Available in two tenor buckets of 444 days and 555 days, the Baroda Tiranga Deposits offers an interest rate of 5.75 per cent p.a. in the former duration while it yields 6 per cent interest rate p.a. in the latter tenure. The scheme opens today i.e. August 16, 2022 and will run till December 31, 2022.
Bank of Baroda customers can use bob World application to open an online FD through Mobile. Moreover, senior citizens will earn an additional interest rate of 0.50 per cent p.a., while Non-Callable Deposits will get 0.15 per cent p.a. extra.
“As India marks 75 years of independence, we are delighted to give consumers one more reason to celebrate. The Baroda Tiranga Deposit Scheme offers a higher rate of interest and the flexibility to choose from two tenures, backed by one of India’s leading and most trusted banks,” said Ajay K Khurana, Executive Director, Bank of Baroda.
SBI Utsav Deposit
To mark the country’s 75 Independence Day, largest public lender State Bank of India on Monday rolled out a new term deposit scheme dubbed ‘Utsav Deposit’. This fixed deposit will offer 6.1 per cent interest rate effective from August 15, 2022 and is valid for 75 days that is till October 30, 2022.
Meanwhile, senior citizens will be entitled for an additional 0.50 per cent over and above the standard interest rate.
