Bank Of Baroda Launches New Scheme Offering Higher Interest Rates

Bank of Baroda (BoB) has announced the launch of a new scheme with a special term deposit product offering higher interest rates. 

The Baroda Tiranga Deposit Scheme is available in two tenor buckets offering interest rates of 5.75 per cent per annum for 444 days and 6 per cent per annum for 555 days.

The scheme will be open till 31 December, 2022 and is applicable on retail deposits below Rs 2 crore.

Senior citizens can earn an additional interest rate of 0.50 per cent per annum, while Non-Callable Deposits will get 0.15 per cent per annum extra under this scheme.

In a statement, Ajay K. Khurana, Executive Director, Bank of Baroda, said, “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.”