Bank of Baroda has hiked fixed deposit (FD) interest rates on selected tenors for deposits below Rs 2 crore. The bank has also revised lending rates. According to the bank’s website, these rates are applicable effective from June 15, 2022.
Big banks including
have already hiked FD interest rates after RBI hiked repo rates by 40 basis points in its monetary policy meet.
The bank has hiked FD interest rate between tenor above 1 year to 3 year. The bank now offers an interest rate of 5.45 percent on tenor above 1 year to 2 years. For tenor above 2 years and upto 3 years, the interest rate has been hiked to 5.50 percent.
For Domestic & NRO Term Deposits [Per Annum] [Fresh & Renewal] [Callable] (ROI in %) – Below Rs 2 crore
For Domestic Term Deposits Below Rs 2.00 Crores – Resident Senior Citizens [Fresh & Renewal] [Callable]
Source: Bank of Baroda website
The bank has revised the Baroda Repo Linked Lending rate (BRLLR) for retail loans to 7.45 percent with effect from June 15, 2022 (current RBI repo rate: 4.90 percent + markup/base spread 2.55 percent), according to the bank website. Earlier, the bank revised repo rates on June 9, 2022.