[ccpw id="5"]

[ccpw id="5"]

HomeBusinessGood news for Bank of Baroda customers, interest rate increase on retail...

Good news for Bank of Baroda customers, interest rate increase on retail time deposits, know how much you will earn money moguls


New Delhi. There is good news for those who have put their hard earned money in the bank. Actually, there is a chance to earn more interest with the public sector Bank of Baroda. Bank (BoB) has increased interest rates on domestic retail time deposits by 25 basis points. The new rates came into effect on March 17, 2023.

Bank of Baroda has increased interest rates on selected term deposits. Deposits on which interest rates have increased include non-resident ordinary account (NRO) time deposits and non-resident external time deposits (NRE). The bank said in a statement that these fees would apply to deposits of less than Rs 2 crore.

The interest rates of these schemes also increased
Interest rates have also been increased on the Bank of Baroda Tax Savings Time Deposit and the Baroda Advantage Fixed Deposit. The interest rate on deposits for a period of 3 years to 5 years will now be 6.5 percent. In the case of the elderly Indian resident, it is 7.15 per cent. The interest rate on term deposits for a term of 5 to 10 years will be 6.5 percent while for the elderly it will be 7.5 percent.

The bank had also raised interest rates on retail time deposits in December.
Let us tell you that Bank of Baroda had previously increased interest rates on retail time deposits by 65 basis points in December 2022 and by 100 basis points in November 2022.

read this too- Explanation: Which FD is better to invest in fixed or floating rate? In what and why will you get more profit?

The repurchase rate may increase again
Point out that from May 2022 to February 2023, RBI has increased the repo rate by 2.50 percent. The RBI is expected to raise the April MPC by 0.25 percent.

Tags: bank of baroda


Please enter your comment!
Please enter your name here


New threat to SBI-HDFC Bank customers! Scammers send such a link, they are forced to click, and money is lost from the account. ...

New Delhi. Cases of cyber fraud are increasing day by day in the country, in such a situation it is very important that you be...

CBDC adoption surges in Nigeria amid cash crunch money moguls

Nigeria is witnessing increased CBDC adoption roughly 18 months after launching its national CBDC amid acute cash shortages. The value of Einara's transactions has risen to...

Gorakhpur Link Expressway: Gorakhpur will soon be connected to Purvanchal Expressway, the journey to Lucknow will be completed in 3.5 hours money moguls

reflexesNow waiting 9 months for Gorakhpur Link Expressway62% of the work on the Link Expressway has been completedLink Expressway will pass through 4 districts of...

Will the new MakerDAO changes restore trust in DAI? Checking in… money moguls

MakerDAO has a new proposal to introduce changes to its PSM operations. DAI supply has declined since the decoupling of the USDC due to a lack...

Most Popular