Bank of Baroda announces Monsoon Dhamaka Deposit Scheme

Mumbai, July 15, 2024 (TBB Bureau): Public sector lender Bank of Baroda (BoB) has launched the BoB Monsoon Dhamaka Deposit Scheme, a new term deposit product aimed at offering enhanced interest rates. This scheme provides two distinct tenors: 7.25% per annum for 399 days and 7.15% per annum for 333 days, applicable to retail deposits below Rs 3 crore. Senior citizens will benefit from an additional 0.50% per annum, raising their rates to 7.75% and 7.65% respectively. Moreover, non-callable deposits ranging from Rs 1 crore to less than Rs 3 crore will receive an extra 0.15% interest.

Sanjay Mudaliar, Executive Director at Bank of Baroda, highlighted, “We are delighted to introduce the BoB Monsoon Dhamaka Deposit Scheme, offering customers higher interest rates and flexibility with two tenure options. This presents an excellent opportunity for depositors to secure attractive returns.”

Customers can conveniently open accounts for the BoB Monsoon Dhamaka Deposit Scheme either online or at any Bank of Baroda branch.