The Business Bytes
TBB BUREAU
MUMBAI, AUGUST 16, 2022
Bank of Baroda on Tuesday announced the launch of the Baroda Tiranga Deposit Scheme, a special term deposit product offering higher interest rates. The Baroda Tiranga Deposits are available in two tenor variants – offering interest rates of 6 per cent per annum for a period of 555 days, and 5.75 per cent per annum for a period of 444 days.
The scheme which opened for subscription today, will continue till December 31, 2022. The scheme is applicable for retail deposits below Rs 2 crore.
Further, the scheme offers an additional 0.50 per cent per annum to senior citizens, making the effective rate for callable deposits 6.25 per cent per annum, while Non-Callable Deposits will be given 0.15 per cent extra per annum, BoB said in a statement.
“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.
Bank of Baroda customers can open an online FD through Mobile using bob World.
